CUSTOMER ACCOUNT SERVICES
CREDIT APPLICATION
TERMS & CONDITIONS
These Terms & Conditions apply to applications for commercial credit with 4R Waterworks Inc.
In consideration of being permitted to effect purchases on the Applicant’s account(s) up to a credit limit which will be determined by 4R Waterworks Inc. at its sole discretion, the undersigned Applicant(s) (collectively, the “Applicant”) agrees to the following Terms & Conditions:
01
The Applicant shall pay all invoices in accordance with the terms agreed upon. Accounts not paid within such terms shall be deemed to be overdue and the Applicant agrees to pay administration charges of 2% per month (24.0% per annum) on the amount of any overdue balance from the date such balance becomes overdue.
02
The Applicant acknowledges that 4R Waterworks Inc. may, at its sole discretion, reduce, refuse or suspend all credit privileges on the Applicant’s account(s) at any time for any reason.
03
he Applicant will provide all financial information regarding the Applicant and any related persons or companies as requested by 4R Waterworks Inc. from time to time. Upon request from 4R Waterworks Inc., the Applicant will cause to be provided to 4R Waterworks Inc. such guarantees from any related persons or companies or otherwise as are required by, and acceptable to, 4R Waterworks Inc.
04
The Applicant agrees that every invoice and statement of account shall be deemed and treated as authorized and correct, unless a written notice to the contrary is received by 4R Waterworks Inc. within ten (10) days from the date of such invoice or statement.
05
The Applicant hereby agrees to pay all costs of collection and/or legal fees incurred by 4R Waterworks Inc. in connection with the collection or recovery of any amount owed by the Applicant to 4R Waterworks Inc.
06
All changes in the Applicant’s legal structure and/or ownership will be immediately reported to 4R Waterworks Inc. in writing.
07
The Applicant hereby authorizes 4R Waterworks Inc. to conduct or cause to be conducted all credit investigations on the Applicant and any related persons or companies as 4R Waterworks Inc. deems necessary, and to divulge credit references to other creditors as requested, with regards to credit line established and history of payments on account.
08
The Applicant hereby authorizes the Applicant’s bank and/or its employees, at any time, upon receipt of a written request from either 4R Waterworks Inc. or its representative, to provide a written credit report or reference which details the nature and extent of the Applicant’s credit dealings with the Applicant’s bank.
09
Title to all goods sold or delivered by 4R Waterworks Inc. shall remain in 4R Waterworks Inc. until such goods have been fully paid for and the Applicant hereby grants to 4R Waterworks Inc. a continuing security interest and purchase money security interest in all such goods and their proceeds to secure payment by the Applicant of all of its obligations to 4R Waterworks Inc.
10
The Applicant consents to 4R Waterworks Inc. obtaining and disclosing personal information about the Applicant and/or its principals and related persons, for the purpose of deciding whether to extend credit to the Applicant (the “Purpose”). The Applicant represents and warrants that it has the authority to grant such consent on behalf of such principals and related persons. 4R Waterworks Inc. may obtain such information from, or disclose such information to, any credit reporting agency, credit bureau, collection agency, personal information agency, financial institution, bank, any party with whom the Applicant or its principals and related persons have had or may have financial relations, or any other party on a need-to-know basis for the Purpose. 4R Waterworks Inc. shall keep such information as long as is necessary for the Purpose or as required by law.
This Application may be executed and delivered by email transmission and, if so executed and transmitted, this Application will be for all purposes as effective and binding as if an originally executed document was delivered.
Any signatory to this Application expressly warrants that he/she is duly authorized and has full authority to execute the Application on behalf of the Applicant without limitation and that by such execution the Applicant is bound by the terms, conditions and stipulations contained herein.
The Applicant certifies that the information set out in the Application for Credit is true and correct, knowing it is being relied on by 4R Waterworks Inc. for the purpose of granting credit and the sale of goods and services.