As an authorized representative of the company, I acknowledge and accept the following, and grant authorization to establish an account for our compnay:
1. The payments will be made in accordance with terms stated on each invoice, which are Net 30 unless otherwise agreed upon in advance and in writing by the Credit Department.
2. Failure to pay invoices according to agreed-upon terms could result in order delays or suspension of the account.
3. Cash discount, if offered, will be forfeited if any invoices are outstanding beyond terms. Cash discounts cannot be applied to payments made by credit card. Cash discounts are not permitted if payment received more than 15 days after invoicing, unless prior approval is granted.
4. Applicant agrees that a monthly service charge of 1.5% may be applied to invoices past due 30 or more days (18% APR). While we general do not charge finance charges or late fees as a couretsy to our valued customers, we reserve the right to do so when accounts become past due or risk of loss increases beyong our risk tolerance.
5. In the event of non-payment and the initiation of legal proceedings, the person, firm, or corporation to whom open account credit was extended agrees to bear the expense of all legal proceedings plus attorney’s fees equal to 20% of the outstanding balance owed.
6. Customer will promptly notify B&D Industrial of any change of management control of business or any change in the Customer’s legal entity status.
7. Permission is granted as evidenced by my (our) signature(s) below for B&D Industrial, or its agents to contact references, or any source for the purpose of obtaining credit information. Credit and bank references are granted our permission to release credit information to B&D Industrial and its subsidiaries.
8. Applicants will be charged the current legal amount for returned checks, plus applicable returned-item fees.
9. For companies with an asset sze of $25M or less, officers grant a persona gaurantee for payments, and agree to cooperate as needed to ensure payments to B&D Industrial and its subsidiary divisions are received.
10. B&D Industrial shall not be liable for any loss or damage resulting from detention or delay in delivery of goods sold by B&D Industrial caused by circumstances beyond B&D Industrial’s control. Receipt of B&D Industrial’s goods by Customer upon delivery constitutes a waiver of all claims for detention or delay. Under no circumstances shall B&D Industrial be responsible for, nor shall Customer be entitled to recovery from B&D Industrial, any special incidental or consequential damages arising out of or owing to any such detention or delay.
11. Exclusion of warranties: Goods manufactured by others and distributed by B&D Industrial carry the manufacturer's warranty, if any. B&D Industrial makes no other warranty of any kind whatsoever expressed or implied. All implied warranties of merchantability or fitness for a particular purpose, are hereby disclaimed by B&D Industrial and excluded from this agreement.
12. Customer shall inspect all goods hereunder immediately upon delivery. Customer’s failure to give notice to B&D Industrial of any claim for cause within fifteen (15) days from the date of delivery shall constitute a waiver by Customer of all claims with respect hereto. No goods may be returned without written consent.
13. Cancellation by Customer of goods must be made in writing and is subject to a handling and restocking fee equal to a minimum of twenty percent (20%) of the price set forth on the invoice. Any goods returned must be in a first class, saleable condition, returned freight prepaid, in its original container, subject to inspection by B&D Industrial. Goods failing to so confirm will not be subject to any refund, whatsoever.
14. This agreement shall be governed by and construed in accordance with the laws of the State of Georgia, and constitutes the entire agreement between B&D Industrial and Customer. In the event that any of the terms and conditions of sale set forth above shall be deemed unenforceable or void, such provision shall be deemed stricken from this agreement and have no effect upon the validity of the remaining terms and conditions.