Any misrepresentation in this application will be considered evidence or fraud, since this information is the basis for extending credit. As a requirement to grant credit, the undersigned warrants that the information is true and correct. You are authorized to investigate the credit reference and principals listed.
In consideration for the extension of credit, said business promises to pay for all purchases within the terms agreed (e.g NET 30 DAYS) and agrees to pay a service charge per month 1-1/2% per month (18% annual percentage rate) on all past due balances. In the event any third parties are employed to collect any outstanding monies owed by said business the undersigned agrees to pay reasonable collection costs, including attorney fees, whether or not litigation has commened, and all costs of litigation incurred. The undersigned represents that he/she has the authority to execute this credit agreement on behalf of the business identified.