This credit application is given to secure open account credit. The information contained therein is correct, complete and true. In consideration of the extension of credit by seller, the undersigned does jointly and severally personally guarantee to pay and be responsible for payment of all sums, balances, and accounts due seller by buyer.
It is the responsibility of the buyer to inform the seller of any changes to personnel who are the buyers “authorized purchasing agents“. The buyer agrees to be liable for the purchase price of all items from the seller by any individual whom the buyer has designated, in writing or otherwise, to be an “authorized purchasing agent“, until such time as the seller receives a written notification from the buyer that such individual is no longer authorized to be an “authorized purchasing agent“ for the buyer. The buyer does understand that if a change of ownership or any bulk transfer is completed all outstanding balances must be paid by the original buyer, or all parts returned to seller.
I/we as applicant(s) for credit authorize you to obtain such information, personal and business, as you may require from the bank and trade references given in the above application which is furnished by me/us for the purpose of obtaining credit, and I/we certify that this application has been accurately completed and represents current data.
If this application is approved and credit is extended to me by Car Parts Warehouse Inc., I/we agree to pay according to the terms of net 10 prox. I/we agreed to pay service charge at the rate of 2% per month (i.e. 24% per annum) should my/our balance exceed 30 days and pay all cost of collection including reasonable attorney's fees.