As authorized agents for the Owner, we, by execution of this agreement, specifically acknowledge, understand and agree that all arrangements for the acquisition of Goods and/or Services with Vendors and Suppliers
will be made directly by the Owner with the respective Vendors and/or Supplier, and that Management Company and PAS shall have absolutely no obligation whatsoever for any claims, losses, obligations, liabilities, or causes of action of any kind or character with respect to Owners purchase of Goods and/or Services from the respective Vendors and Suppliers.
If credit is granted, we understand that the terms of the sale are net 30 days. In the event the account is in default, the Supplier may charge interest on any past due balance at the maximum rate allowed by law with said interest being calculated from the date of default. In the event that the account is placed with a third party for collection, the Owner may be charged all costs including reasonable attorney fees, court costs, and finance charges.
As authorized agents for the Owner, we authorize the Supplier to investigate our credit history, bank references and any information deemed necessary to extend credit. On behalf of the Owner, we agree to (1) reasonably notify the Supplier and/or PAS in writing of any change in ownership, form of business, or address or the termination of a persons authority to incur charges under the account on behalf of the applicant; and (2) indemnify the Supplier for any loss incurred thereby as a result of our failure to provide said written notice. This agreement shall remain in full force and effect until written notice of revocation
is received by the Supplier.