STANDARD TERMS AND CONDITIONS OF SALE

TERMS OF SALE:  All credit sales are due net, 30 days following sale, unless otherwise negotiated.  A finance charge of 1% per month (12% per annum) on all open balances will be charged to all accounts past due, with a seven-day grace period following the last day of the stated credit term.  Arrangements for credit more than the agreed upon credit term must be approved prior to sale date.  All new accounts, while establishing credit, will be required to pay on delivery.

 

              CREDIT LIMITS:  Credit limits are established per customer and may be changed periodically based on customer payment history and growth.

 

              REQUIREMENTS:  All new customers are required to fill out and return credit application.  No credit will be given until application is returned and approved.  In the event of default, in addition to the finance charges stated above, the applicant agrees to pay all attorney’s fees or collection fees, court costs and other expenses reasonably incurred.

 

              AUTHORIZATION:  I/We the applicant hereby authorizes an examination of the credit references listed or not to release any and all information which LAUGFS USA, LLC may request.

 

              I/We individually and where applicable, also as officers of the above named business entity, acknowledge acceptance of the above credit arrangement and guarantee the prompt payment of all sums now or hereafter due from the above named individuals or business entity.  I/We understand that the addition of a corporate title signature does not alter the individual nature of this guarantee.