7 STAR CREDIT APPLICATION & AGREEMENT TERMS
The term “Applicant” includes the entity requesting credit on the following pages of this form, its owners or principals who supply credit information, and all guarantors to this Agreement. The term “7 Star” shall mean 7 Star Brokerage, S & R Brokerage, LLC, and any entity affiliated with or related to S&R Brokerage, LLC from which Applicant obtains credit, services, or incurs liability to, at any time, whether now or in the future. All services are governed by the Terms and Conditions contained in 7 Star's invoices, rate cons, price sheets, bills of sale, bills of lading or shipping documents, and this Agreement.
1. Prices are subject to the price in effect at the time of service. All services are subject to credit approval at the time of sale. Applicant agrees that under no circumstances will 7 Star be liable to Applicant for consequential, indirect, special, exemplary or punitive damages, including without limitation, loss of use, loss of business opportunity, or loss of profit or revenue, as a result of 7 Star's performance or non-performance of its obligations under this Agreement, 7 Star's invoices, rate cons, price sheet, bills of sale, bills of lading or shipping documents. In no event will 7 Star be liable to Applicant for more than the value of services rendered to Applicant by 7 Star.
2. Applicant grants 7 Star permission to investigate and verify references and credit information. Applicant and its agent(s) authorize any banks, financial institutions, and other credit reporting agencies to furnish credit information to 7 Star. This authorization continues until 7 Star is paid in full for all obligations incurred by the Applicant to 7 Star. Applicant agrees that its references and credit information are representations to 7Star on which 7 Star will rely in extending credit. 7 Star is under no obligation to grant credit and may revoke any future credit at any time without notice.
3. By signing this Agreement, Applicant agrees it will pay when due to all sums due for services rendered, credit extended, and obligations incurred according to this Agreement, 7Star's invoices, rate cons, price sheets, bills of sale, bills of lading, or shipping documents.
4. Applicant agrees that the amount invoiced to Applicant is the cash price. In the event the Applicant doesn't pay the cash price within 45 days of the invoice, 1% per month will be added as a time price differential. In the event the account is placed for collection, Applicant agrees to pay all expenses of collection, including court costs and reasonable attorney fees.
5. This Agreement shall be governed and enforced under the laws of the State of Michigan. The parties consent to the jurisdiction and venue of the Courts located in Ingham County, Michigan. The parties agree that 7 Stars does business in Ingham County and that by making this application, Applicant has done business in Ingham County
