Applicant agrees that all payments shall be made within 10 days EFT and all past due invoices will bear and administration fee on the unpaid balance at the rate of 10% per month or $500, whichever is less. If this account is placed for collection, applicant further agrees to pay all collection costs incurred by Bumgarner Oil Co., Inc., including attorney’s fees, court costs, and any contingency for a collection agent. Applicant agrees that the validity and interpretation of this agreement will be governed by the laws of the State of North Carolina. Applicant further agrees that in the event legal action becomes necessary, jurisdiction and venue shall, at Bumgarner Oil Co., Inc.’s option, remain in North Carolina.
Applicant further agrees that any line of credit desired or approved is not a limitation of liability, and applicant expressly agrees that applicant will be responsible for valid charges in excess of a line of credit either desired or approved. Furthermore, applicant agrees that Bumgarner Oil Co., Inc. has the right to refuse future extensions of credit to applicant if applicant fails to comply with any terms or conditions applicable to any sale to applicant.
Applicant consents to the verification by Bumgarner Oil Co., Inc. of the information supplied in this application and to the exchange of credit information about the applicant now and in the future. Applicant agrees to allow Bumgarner Oil Co., Inc. to run a consumer credit report from one of the national credit reporting agencies in order to make a determination of extending credit terms. Applicant hereby knowingly consents to the use of such credit report consistent with the Federal Fair Credit Reporting Act.
Applicant agrees that all of the information supplied herein is correct to the best of their knowledge, and that the applicant understands that all goods or services purchased from Bumgarner Oil Co., Inc. are subject to the terms and conditions contained in this application and agreement and all other terms and conditions contained on any of Bumgarner Oil Co., Inc.’s invoices. Applicant further agrees that all purchases made on this account by its employees or by any other person with actual or apparent authority to make a purchase on this account shall be governed by these terms. Bumgarner Propane is a wholly owned subsidiary of Bumgarner Oil Company Inc. All transactions, agreements, and obligations pertaining to Bumgarner Propane are governed by the same terms and conditions as those of Bumgarner Oil Company Inc.
