CREDIT
AGREEMENT - TERMS AND CONDITIONS
(Mandatory
for all new accounts)
1. Broad Bay
Cotton Company™, “Broad Bay Cotton™”, and the applicant, "Customer",
agree to enter into a business relationship whereby Customer desires to
purchase goods and services from Broad Bay Cotton™ and Customer agrees in consideration thereof
to be bound by the terms and conditions stated in this agreement.
2. Broad Bay
Cotton™ will extend credit to Customer based upon the information provided in
this application. Customer authorizes “Broad Bay Cotton™” to check the
applicant's credit background. Customer
agrees to pay any and all invoices, charges, and costs which Customer or
authorized buyer (working on behalf of customer) incurs on Customer’s account
with Broad Bay Cotton™.
3. Customer
agrees to notify Broad Bay Cotton™ in writing of any error found in any invoice
within (25) days after the date of
that invoice. Failure to notify Broad
Bay Cotton™ obligates Customer to pay all charges for the goods as rendered as
specified on the invoice. Customer shall
pay all sums owing to Broad Bay Cotton™ in accordance with the terms and
conditions on Broad Bay Cotton’s™ invoices.
In the absence of specified terms and conditions, terms shall be Net 30
days. All sums past due shall bear interest charges of 1.8% per month. All
returned checks will have a $20 charge added to your account and terms will be
changed to pre-pay or COD (cash or money order) only. Invoices 30 days past due
may result in terms changed to pre-pay or COD (cash or money order) only.
4. If payments
are not received by Broad Bay Cotton™ within the terms granted to Customer’s
account, Customer shall pay for all expenses incurred by Broad Bay Cotton™ in
connection with attempts made to obtain payment, including fees charged by a
collection agency or attorney. If Broad
Bay Cotton™ refers this agreement to an
attorney for enforcement, including collection of amounts which are past due,
Customer agrees to pay Broad Bay Cotton™
actual attorney's fees and costs incurred thereby, whether or not formal
proceedings are brought to remedy Customer's breach of this agreement.
5. Customer
agrees that any financial documents provided to Broad Bay Cotton™ are true and
correct and will be provided to Broad Bay Cotton™ upon request. Customer
represents to Broad Bay Cotton™ that it
is solvent as of the date of this agreement and that any financial statement
attached accurately reflects the present financial condition of customer
in accordance with generally accepted accounting principles as of the date
noted.
In
Consideration of Broad Bay Cotton Company™ continuing or granting credit to the
applicant (I, we, they) agree to the following: (1) to pay all collection costs
including attorney’s fees of 33- 1/3% of the delinquent balance owed; (2) that
this agreement and the account established by this agreement shall be construed
and enforced according to the laws of Virginia; that any action in regard
hereto or arising out of the terms or conditions of this agreement and the
account established by this agreement shall be instituted and litigated in the
General District Court or the Circuit Court of the City of Virginia Beach of
the State of Virginia and in no other; and in accordance herewith, the
applicant submits to the jurisdiction of the courts of the State of Virginia
and appoints the Secretary of the Commonwealth of Virginia as agent for service
of process
Upon
Broad Bay Cotton Company™ acceptance, this agreement embodies the entire
agreement of the parties. No promise, representation of agreement made prior to
or subsequent to the execution and delivery hereof, by either hereof, and no
revocation, partial or otherwise, or change amendment, addition, alteration or
modification shall be valid unless the same be in writing signed by all the
parties hereto, or by their duly authorized agents.
THE
UNDERSIGNED CERTIFIES THAT THE INFORMATION FURNISHED IN THE APPLICATION IS TRUE
AND CORRECT, AND THAT THE UNDERSIGNED HAS READ AND AGREES TO ALL TERMS AND
CONDITIONS OF THIS AGREEMENT NOTED ON THE FRONT AND REVERSE PAGES OF THE
APPLICATION.
Date:
Company Name:
Signature:
Title:
By visiting or shopping at this web site, you accept the following terms and conditions. Please read them carefully.