Whereas the applicant has requested an open account from Challenger Motor Freight Inc. and/or Challenger Logistics Inc., Challenger Logistics International Inc., and Elgin Motor Freight Inc. (hereinafter the “Seller”) for the purpose of purchasing transportation/ warehousing services on credit, the following terms and conditions shall apply:
1. Terms are net 30 days.
2. All invoices shall be payable net and all arrears and overdue accounts will bear interest at the minimum rate of 2% per month or 24% per annum. Any applicable discounts will be forfeited on overdue accounts.
3. Cancellation: The seller reserves the right to cancel this credit facility at any time without prior notice to the Applicant.
4. Credit Investigation: The Applicant and undersigned shall provide to the Seller on an ongoing basis such financial information as may be requested and consents to the verification of all information contained in the application or further information which may subsequently be provided in the future and such personal information as may be deemed necessary. All credit reference indicated are authorized to provide whatsoever information may be requested by the Seller or its Agent.
I, the undersigned, declare that all the information supplied in this Credit Form is true and accurate and I am authorized to request a charge account at Challenger Motor Freight Inc. and/or any of its affiliates including Challenger Logistics Inc., Challenger Logistics International Inc., Elgin Motor Freight Inc. Furthermore, by signing this Credit Form below, I agree and consent to authorize Challenger Motor Freight Inc. and/or any of its affiliates to obtain from any credit reporting agency or any other source, such information as Challenger Motor Freight Inc. and/or any of its affiliates may deem appropriate, at any time in connection with the credit hereby applied for.