As part of the consideration for any sales and purchases which may take place between FLORITE INTERNATIONAL INC (FLORITE) and the undersigned, it is expressly agreed that all sales, orders and shipments are non-cancelable/non-returnable (NCNR), and are subject to the terms and conditions stated on FLORITE invoices and/or those terms and conditions as follows:
1. FINANCE CHARGE: All orders are based on a net 30 day basis and Florite’s shipping terms are fright-on-board (FOB), customers will receive an invoice for goods and services ordered upon release of goods to the transportation carrier. Any past due accounts in which funds have not been received and are over 30 days will have an automatic finance charge applied to the customers account. Finance charges are calculated as (number of days past due) (daily rate) (outstanding invoice amount) for each overdue invoice. Calculations based on an annual rate of 18%. Any charges incurred in the collection process will be borne by the customer including, but not limited to court costs and attorney fees.
2. FREIGHT: All prices are Free On Board (FOB) Woodland Hills, California, USA, with a 10% of freight handling charge on all prepaid and add (PP&A) shipments.
3. WARRANTY: FLORITE warrants that the goods manufactured by FLORITE shall remain free from defects in workmanship or materials for a period of two years from the date the goods are shipped to Buyer; and that the goods, subject to customary industry tolerance, conform to the specifications and other descriptions which may be referred to on the face thereof.
4. CLAIMS: All claims for shortages, defective merchandise or invoicing errors must be reported to FLORITE within ten (10) days of receipt of goods. Claims for damaged or lost shipments must be made against the carrier.
5. VENUE: Venue shall be in the County of Los Angeles, State of California, the laws and decisions of the State of California shall govern all transactions taking place between FLORITE and Buyer.
6. COLLECTION COSTS: Should it become necessary for FLORITE to commence collection proceedings or retain an attorney to enforce any of the transactions which may arise between the parties pursuant hereto, the undersigned agrees to pay attorney’s fees and collection costs.
7. INVOICE TERMS: Applicant agrees to be bound by the foregoing terms and conditions of sale together with the complete terms and conditions of sale of FLORITE which Applicant acknowledges are contained on the invoices of FLORITE. Applicant certifies that the facts set forth in the above credit application are true and complete to the best of his knowledge.
I/We sign this credit application on behalf of Applicant, and as an individual (s) personally agree to be bound by all of the terms and conditions of sale set forth herein and contained in the invoices of FLORITE INTERNATIONAL INC. I/We guarantee payment of all present and future indebtedness of Applicant to FLORITE and waive all notices from FLORITE and waive the right to require FLORITE to proceed against Applicant. I/We also agree that our personal liability hereunder shall not be deemed to be released or discharged by any extension of time or by any other modification, substitution, settlement, or compromise granted to Applicant, or by any change in the legal from of ownership of Applicant. Liability under this Guaranty shall not be released or terminated by the failure of FLORITE to exercise diligence in enforcing its rights against Applicant.
This is an absolute and continuing Guaranty.