Shipping Information — if different from billing address
Shipping charges will be added to your order (prepay and add) unless you provide carrier info and instructions.
Credit Application Agreement & Signature
1. Open Account Privilege: IP reserves the right to approve or deny credit in its sole discretion and may limit or expand credit on customer's account at any time without notice or advance notice, subject to timely payment of any and all invoices, charges, fees and costs incurred on customer's account.
2. Import Fees: IP reserves the right to charge any new orders-in-process for changes occurring at time of import. IP credit customers shall be deemed to accept this policy upon submitting any order. In some circumstances, we may request financial documentation from you directly or through your other creditors.
3. Customer's Representations: Credit will be extended by IP to customer based on the information provided in this credit application. Customer represents and warrants that information provided is true and accurate. IP may share your credit information from this form to verify credit with your creditors directly or from a third-party credit agency. In some circumstances, we may request financial information from you directly or inquire directly with your creditors. In some circumstances, we may request a copy of your most recent financial statements.
4. Default: Failure to make timely payment on any account will result in all charges on customer's account, including any new orders-in-process, becoming immediately due and payable. In addition, IP reserves the right to terminate or suspend any or all existing or upcoming orders until payment in full is received. Customer shall be liable for and shall pay any and all collection fees, costs and reasonable attorneys' fees incurred by IP in collecting any past due amounts.
5. Net 30 Payment Terms: Approved credit accounts are extended Net 30 payment terms. Payment in full is due within 30 days of the invoice date. Industrial Products Limited, LLC reserves the right to assess a late fee of 1.5% per month (18% per annum) on any outstanding balances not paid within terms. Net 30 terms are subject to ongoing credit review and may be modified or revoked at IP's sole discretion based on payment history or changes in the customer's credit profile.
Personal Guarantee — Sole Proprietors & Single-Member LLCs
In consideration of credit being extended by Industrial Products Limited, LLC to Applicant, the undersign confirms that they are an executive, partner or owner of the business applying for credit and understands that they will be held liable for payment to IP in the event that the business defaults on their obligation. It is understood and agreed that this guarantee shall be a primary, absolute, continuing and irrevocable guarantee and indemnity for such indebtedness and will not be subject to any counterclaims, offsets, other deductions or defenses. I / We hereby waive notice of default, non-payment or non-performance, dishonor, protest, presentment, diligence, promptness, creation, renewal, accrual, extension, proof or reliance and agree to be bound by all applicable terms and conditions set forth in this Application, including the Terms and Conditions. This Guarantee will not be released, discharged, terminated, modified, affected or impaired by all occurrences or circumstances whatsoever, including without limitation, any insolvency, bankruptcy, reorganization, or other similar proceeding affecting Applicant or its assets or any negotiations or course of dealing between IP and Applicant. This guarantee shall be binding upon the heirs, administrators, successors and assigns of the undersigned.
