The applicant hereby authorizes their bank to release information regarding their account to Oakland Pallet Co., Inc. This information will be held in the strict of confidence and used solely to establish and maintain as open line of Credit with Oakland Pallet Co., Inc
Applicant here specifically agrees that in the event credit is extended to applicant, Oakland Pallet Company (sometimes herein after referred to as seller) reserves the right at any time to suspend or alter credit terms, in whole or in part, when in it's the opinion of the financial condition or business practices or the applicant warrants. In such case, in addition to any other remedies, cash payment or satisfactory security may be required before shipment or delivery. Failure by applicant to pay invoices at maturity makes all subsequent invoices immediately due and payable irrespective of terms should Seller so elect and seller may withhold all subsequent deliveries until the full amount due is settled. Acceptance by seller of less than the full payment due shall not be waiver of any of its rights and no waiver by either party of any default shall be demand a waiver of any subsequent default. Applicant further agrees that should it become necessary to place applicants account for collection, applicant shall pay all costs thereof, including reasonable attorney's fees.
Applicant agrees to pay all purchases of goods and/or services according to the terms of Seller. No terms of conditions of purchase orders different from the terms of Seller will become part of any sales agreement, purchase order, or other document unless specifically approved in writing by seller. Applicant hereby agrees to pay late payment charges of 1.25% per month or as allowed by law on all overdue accounts. All charges are payable according to the terms of Seller's invoices unless otherwise pre-arranged with Seller's credit department. Should it become necessary for Oakland Pallet Co. to file suit to enforce payment of any charges, applicant agrees hereby that such suit may be brought in the state of California. At Seller's option Seller shall be entitled to court costs, attorney's fees and inters at the rate of 10% per annum on all amounts found to be due and payable. Applicant further agrees that, upon written request by Oakland Pallet Co. and as a condition to continued extension of credit herein applied for, a guaranty concerning all indebtedness of liability incurred in the name of Applicant, executed by persons of entities and in a form acceptable to Oakland Pallet Co., will be provided within the time specified in such request.
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