Credit Authorization
The business identified in this application hereby authorizes all banks, financial institutions, trade reference sources, credit reporting agencies, and others to release credit information as requested.
Payment Terms
Payment terms will be assigned based on the creditworthiness of the applicant and may include COD (Cash on Delivery), Net 15, or Net 30. The agreed-upon terms will be specified in writing at the time of account approval.
- Invoices: are due in full according to the assigned terms as evidenced by the monthly statement.
- Late Payments: Any amount not paid within the agreed term will be considered delinquent and subject to a finance charge of 1.5% per month (18% annually) on the unpaid balance.
- Returned Checks: If any check is returned unpaid, the applicant agrees that we may debit their account for the amount of the check plus a processing fee of up to $25, as permitted by law. Payment by check constitutes acceptance of these terms.
Credit Suspension and Cancellation:
Any amount unpaid past the original due date shall be grounds for cancellation of credit privileges. We reserve the right, without liability and without prejudice to other remedies, to:
- Suspend performance
- Decline shipment
- Stop any work in progress
until all outstanding amounts are paid in full.
Collection Costs:
In the event of legal action or collection efforts to recover delinquent amounts, the customer agrees to pay all costs, including the delinquent balance, accrued interest, collection fees, and reasonable attorney’s fees.
Acknowledgment
It is hereby warranted the terms and conditions above have been read and understood and that application information provided is accurate. Furthermore, I represent that the applicant herein indicated has the financial ability and willingness to pay all invoices within the established terms. I understand you may retain the application whether or not approved, or withdrawn.
We reserve the right to retain this application whether approved, declined, or withdrawn.
