SECTION 6 - TERMS AND CONDITIONS OF BUSINESS CREDIT
This Application, including all of the information contained herein, is a request for one or more extensions of business credit to defer payment for purchase of construction materials by Applicant from Smyrna Ready Mix Concrete, LLC. By submitting this Application to Smyrna Ready Mix Concrete, LLC, Applicant hereby agrees to these Terms and Conditions.
Applicant hereby agrees to pay Smyrna Ready Mix Concrete, LLC for each purchase made hereunder, as follows: (Net 30) Applicant agrees to pay Smyrna Ready Mix Concrete, LLC a monthly late charge equal to the lesser of 1.5% or the maximum amount permitted by State Law. Applicant agrees that each individual sale shall be subject to these Terms and Conditions, the terms and conditions set forth in Smyrna Ready Mix Concrete, LLC quotation, including the General Terms and Conditions which form a part thereof, and, if applicable, any terms and conditions relating to the delivery or shipment of construction materials by truck which are provided by Smyrna Ready Mix Concrete, LLC to Applicant.
Applicant authorizes Smyrna Ready Mix Concrete, LLC from time to time to obtain one or more credit reports from any reporting agency and to obtain information regarding Applicant from any creditor of Applicant, including, but not limited to, each of the credit references listed in Section IV. Applicant further authorizes each of the creditors to give to Smyrna Ready Mix Concrete, LLC from time to time any and all necessary information that will aid Smyrna Ready Mix Concrete, LLC in its credit investigation. Applicant further authorizes Smyrna Ready Mix Concrete, LLC to reinvestigate credit status from time to time as Smyrna Ready Mix Concrete, LLC deems necessary. Smyrna Ready Mix Concrete, LLC reserves the right to limit, terminate, or change the terms of any extension of credit to Applicant at its sole discretion. Applicant authorizes Smyrna Ready Mix Concrete, LLC to act as a credit reference for Applicant by responding to inquiries from other creditors or potential creditors of Applicant regarding transactions or experiences with Applicant.
Each of the undersigned does hereby certify that he/she is authorized to sign this Application on behalf of Applicant; that the information contained herein is true, accurate, and complete in all respects; and that all purchases made by Applicant will be made in the ordinary course of business of Applicant for business purposes and that no credit is sought or will be obtained for the personal, family, or household purposes of any individual. Applicant will advise Smyrna Ready Mix Concrete, LLC in writing at the address referenced on its invoices of any changes which occur in respect to any of the information included in this Application (including, but not limited to, any of the information provided in Section II or III) or any other information which may affect ability to pay, and until such time, Smyrna Ready Mix Concrete, LLC may continue to rely on this information. Any changes in legal status or the information provided in Section II or III must be communicated at least five business days in advance by certified mail. The original Applicant will remain liable until such time as Smyrna Ready Mix. LLC has been given a reasonable period of time to respond to any notice regarding changes in legal status. Applicant further agrees that these Terms and Conditions are governed by the laws of the state where the shipments originated and that if any provision hereof is held invalid, illegal or unenforceable, then no other provision shall be affected or impaired thereby.
Applicant will pay all costs of collection, including, but not limited to, attorneys fees equal to the greater of 25% of the amount of the outstanding indebtedness, or the maximum allowable under state law, should all or any part of this account be placed for collection. Applicant further waives the right to a jury trial in the event Smyrna Ready Mix Concrete, LLC is required to institute suit for collection of any sums due hereunder. Applicant agrees that any and all claims arising out of or relating to any sale or extension of credit by Smyrna Ready Mix Concrete, LLC, including, but not limited to, any action by Smyrna Ready Mix Concrete, LLC to collect on account, may be filed in Federal or State court where the shipments originated, and Applicant specifically consents to the exercise of non-exclusive personal jurisdiction over Applicant by a Federal or State court where the shipments originated, and to extraterritorial service of process, if necessary.
Applicant agrees that any claims concerning quality control, or compliance with product specifications, shall be waived unless written notice of such claim shall be delivered to Smyrna Ready Mix Concrete, LLC, by certified mail at the address found on its invoice, within 30 days of receipt of such products by Applicant.
Smyrna Ready Mix Concrete, LLC may at any time, assign its right for payment hereunder.
