SALES TERMS/CREDIT CONDITIONS OF SALE
Terms of sale call for payment in full of all accounts thirty (30) days from date of invoice unless otherwise specified, in writing by Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited.
Default of payment will result in a 1 ½% monthly interest charge (18% per annum) on all past due amounts.
The enterprise promises to inform Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited in writing of any major changes that can affect his solvency, especially, dissolution, stockholders or associates change, legal status or address modification.
In the event of an N.S.F. Cheque, a $25.00 fee will be charged
The enterprise authorizes Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited to gather information concerning his credit and solvency and authorizes his creditors to grant such information to Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited. It is understood that the information supplied will be confidential and will be exclusively used for credit approval or internal administration thus relieving his creditors of any responsibilities for the information supplied.
By signing the credit application, the authorized person hereby consent and grant permission to Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited and its officers, directors, employees, agents and professional advisors pursuant to the provisions of the Personal Information and Protection and Electronic Documents Act (the “act”) to undertake all such searches and due diligence asthey in their unfettered discretion deem necessary, appropriate and reasonable in the circumstances against the corporation and all of its principals in order to assess the grant of credit to the corporation and the terms of such extension of credit if soinclined. The corporation and principals hereby acknowledge and agree that they will execute any reasonable documents as may be required to implement and facilitate the due diligence efforts of your firm.
For valuable consideration of the extension of credit by Earle M. Jorgensen Canada (“EMJ”), A Division of Reliance Metals Canada Limited, the authorized signatory hereby covenant to pay and be liable for all sums, balances and accounts which may be due by the corporation to EMJ plus any expenses incurred by EMJ to enforce its rights and remedies herein, including but not limited to legal fees and expenses on a substantial indemnity basis, without any benefit of division, discussion, set-off or counterclaim that the authorized signatorymay have against EMJ and notwithstanding any change in the form of such indebtedness, renewals or concession which may be granted by EMJ to the corporation.
Pursuant to the Act, it is understood that Earle M. Jorgensen Canada, A Division of Reliance Metals Canada Limited and its officers, directors, employees, agent and professional advisors will keep all information confidential at all times, save andexcept for sharing such information at industry credit meeting or in response to inquiries for trade references in respect of the corporation or its principals.