Any misrepresentatin in this application will be considered evidence of fraud, since this information is the basis for the extending of credit. As an inducement to grant credit, the underisgned warrants that the information submitted is true and correct. You are authorized to investigate the credit references and principals listed.
In condideration for the extension of credit, said business promises to pay for all purchased within the terms agreed (Net 30 days) and agrees to pay a service charge of 1-1/2& per month (18% annual percentrage 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 of not litigation has commenced, 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.
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