Business Credit Application
1. Credit terms: Net 30 DAYS/ OR ACCORDING TO WRITTEN AGREEMENT.
2. A financial charge of 2% per month will be charged on all past due balances (26.8% annually), or the maximum Legal interest rate.
3. The merchandise sold to the CLIENT shall remain the properly of the «COMPANY» until complete payment thereof.
4. Any return of merchandise will only be upon written approval by the «COMPANY» and is thereof liable by the CLIENT to handling and restocking charges of up to 25% of the merchandise value. The "Company" will issue a credit note for the remaining value of the returned merchandise.
5. The «COMPANY» and the CLIENT herein elect domicile in the judicial district of Quebec and all legal proceedings are pursuant thereto.
6. In the event of default by the CLIENT in making any payment pursuant to the Supply of merchandise or services hereafter, the CLIENT agrees to pay, in addition to amounts owed in principal, interest and costs, 20% of the said total amount due as liquidated damages for mere delay in performance of the obligation, without prejudice to the «COMPANY» further rights and claims.
7. The CLIENT hereby authorizes that the «COMPANY» employees, representatives or agents obtain, and/or exchange information pertaining to are present credit request and agree to this authorization not being limited in lime.
8. The CLIENT hereby agrees that the present credit application may be signed and transmitted by means of fax and that any facsimile copy hereof shall be binding upon the party or parties so signed.
9. The CLIENT has read the conditions and terms herein and agrees to them. If the CLIENT is a company, I(we) jointly and severally guarantee the payment of all due amounts to the «COMPANY» and I(we) abdicate the right to division and discussion and further state and recognize that the herein provided guarantee is not pursuant to any function held with said company.
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