Our firm is financially able to meet any commitments we have made or will make and we expect to pay your invoices according to your terms.
I/We agree that if payment is delayed 30 days or more past terms, to pay a delinquency charge for unexpected delay in payment, not to exceed 1-1/2 (one and one half) percent per month on all balances 30 days or more past due. I/We also agree to pay for costs of collection, including attorney's fees for all delinquent accounts sent for collection.
I/We realize that you are expected to investigate my/our credit. I/We authorize you to obtain, if you desire, a written or oral credit report. I/We further authorize any bank with whom I/we am/are doing any type of business to give any and all necessary information to you which will assist you in your credit investigation, and release any claim I/we have for breach of contract or invasion of privacy because of information furnished to you. If you should act adversly on my/our credit application, I/we have the right, within 30 days after such action, to request you in writing to give reasons for such action. Any records on which a credit decision is based need not be retained for more than 90 days, unless within that period I/we request in writing that you retain the records for 25 months.
I/We agree that any dispute arising hereunder shall be venued in the County of Minnehaha, State of South Dakota, Circuit Court for the Second Judicial Circuit, and that this document may be plen as a bar to any suit or proceeding brough in another jurisdiction or any other Court or tribunal.
I/We agree that should I/we choose to request an extension of credit at any affiliated company that this agreement will be fully binding on behalf of and assignable by said company and fully enforceable hereunder. I/We understand that this shall not be read as requiring any affiliated company to extend credit hereunder.
In consideration of the extenstion of credit by this vendor, the Applicant agrees as follows:
I/We, by submitting this application, attest that we are persons with a financial interest in the company/corporation/partnership/firm and agree to pay jointly or severally the obligations of the company/corporation/partnership/firm and hereby guarantee the prompt payment and performance of the obligation of the company/corporation/partnership/firm, under this Agreement, or any other agreement with North American Truck and Trailer, including payment of all the above costs and delinquency charges.