CREDIT APPLICATION TERMS:
Buyer/Applicant authorizes Valtorc International and its representatives to inquire into Buyer’s/Applicant’s credit history and to contact Buyer’s/Applicant’s references given, in addition to any other person, corporation or other entity, for the purpose of determining the credit worthiness of the Buyer/Applicant.
As a requirement of extending the credit privilege to Buyer/Applicant and in consideration for any extension of credit, Buyer/Applicant agrees to abide and be bound by Valtorc Internationals Terms and Conditions and incorporated herein by reference, applicable to each and every transaction between Valttorc and the Buyer/Applicant regarding the Sales of Valtorc's products. Buyer/Applicant further agrees to execute from time to time any and all documentation reasonable requested by Valtorc to satisfy Valtorc that its “Terms and Condition of Sale” shall be controlling.
All invoices are DUE IN NET 30 DAYS. Invoices NOT paid within 30 days are PAST DUE.
All invoices, which are not paid in NET 30 DAYS are subject to a Service Charge of 1-1/2% interest PER MONTH, commencing with the 31st day and continuing until the funds are received by Valtorc.
Should the customer be a corporation, the undersigned agrees that by execution hereof, he/she or they are authorized to commit the customer for payment of all indebtedness or liabilities incurred pursuant to this agreement, demand for payment and notice of indebtedness and default are expressly waived.
Should it become necessary for Valtorc to retain an attorney to make demand upon or collect any past due invoices or statements, the customer agrees to pay all recording fees and court cost, incurring by Valtorc through all appeals, and bankruptcy proceedings, if any. Valtorc and the customer agree Valtorc shall choose the venue of any action brought to collect past due invoices or statements, or enforce any provision of this agreement.