CONDITIONS FOR THE EXTENSION OF CREDIT
For the purposes of obtaining an extension of credit, I/we (“Applicant”) state that all of the information contained in this application is true and correct. The parties hereby agree that services are rendered subject to the following terms and conditions:
- All invoices are due and payable on terms granted. An NSF charge of $25.00 shall be assessed for returned checks.
- Amounts past due are subject to a finance charge of 1.5% (or highest rate allowed by law) each month (18% per annum) until the balance is paid in full.
- If any collection action is undertaken, Team Pride Athletic Apparel, LLC, All Star Lettering, Macs Worldwide, and GS Sports Ventures shall be entitled to recover collection costs, a reasonable attorney’s fee, all court costs, and all legal interest accrued on past due principal amounts.
- I/we hereby authorize banks and creditors listed above to release information needed to establish our credit.