I/we authorize BGS and its credit investigation agency to contact and receive information from any source regarding my business and /or personal credit. It is understood this information will be held in the strictest confidence and used only by BGS' credit department or in the event collection efforts are required against us and the Guarantor. In the event you are denied credit under this Application, you will receive a notice containing information about the credit reporting agency providing us with a report. That notice will outline your rights to obtain a report from that agency and your right to obtain the specific reasons for your denial. BGS does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age or because any part or all of your income derives from public assistance or because you have, in good faith, exercised any rights under the Consumer Credit Protection Act.
I/we certify that the within information is true and correct and that the account will be paid in accordance with BGS' credit terms which are NET 30 days from statement date. The undersigned understands and recognizes that if there is a default in payment of any amount due, that BGS will be required to expend money, manpower and overhead in the collection, billing, supervision and solicitation of the past due amounts and in consideration therefore, I/we agree that the amount past due shall be subject to a finance charge rate of 1-1/2% per month (18% per annum). In the event that BGS is required to retain an attorney and/or agency to collect the past due amount referred to herein, then the undersigned shall pay all costs of collection, in addition to the sums otherwise due to BGS. I/we agree to be responsible for any purchases made by any and all representatives of myself or my company unless I/we advise you in writing of any purchase restrictions. I/we also agree to be responsible for materials ordered for a job site where said materials are delivered without the owner, contractor or subcontractor available for signature, in which case, I/we agree to accept BGS as an authorized agent for any required signature. If I/we fail to notify BGS in writing within 7 days after receipt of confirmation of delivery, the delivery will be deemed authorized and accurate. I/we agree to pay a 3% administration charge if payment on my/our account is made Visa, Master Card, American Express or Discover Card.
BGS reserves the right to revoke your credit at any time for any reason, other than an unlawful reason, upon written notice, including without limitation upon receipt of revocation of guarantee by guarantor(s).
The Applicants and Guarantors signing this Credit Application and Guarantee of Credit expressly agree that all claims, disputes, demands, issues and /or controversies involving amounts due to BGS and/or arising out of, by virtue of or resulting from this Credit Application and Guarantee of Credit may, at the option of BGS, be decided and resolved by binding arbitration administered by the American Arbitration Association pursuant to the Association's Construction Industry Arbitration Rules then in effect. If arbitration is selected by BGS, said selection shall apply to all claims and defenses available to the parties, including but not limited to those based upon common law, statutes and/or administrative regulations (including but not limited to the Consumer Fraud Act and any regulations promulgated thereunder). The signatories to this Credit Application and Guarantee of Credit expressly waive their right of access to the court and/or jury trial and agree to have all claims and defenses decided in binding arbitration if so selected by BGS. Applicant agrees that any arbitration of disputes arising from this Application and Guarantee shall be conducted in Monmouth County, New Jersey. Any disputes not arbitrated shall be subject to the jurisdiction of the Courts of the State of New Jersey, Monmouth County. This Application shall be governed by the laws of the State of New Jersey without regard to its conflict of law principles.
NOTE: If corporate account, all stockholders must sign. If partnership, all partners must sign. If LLC, all members must sign.
For valuable consideration and to induce BGS to offer credit to Applicant, the undersigned personally and unconditionally guarantees payment of all amounts due BGS from Applicant, including but not limited to costs, counsel fees, service charges, interest and any other sums which BGS may be found entitled to. This is an absolute, unconditional and continuing guarantee which applies to all past, present and future credit BGS may extend to Applicant, and may not be revoked except in a written notice sent by Guarantor to BGS via certified mail return receipt requested or by personal delivery, which notice shall become effective upon BGS’s receipt, except that Guarantor’s revocation will not apply to any purchase made by Applicant prior to BGS’s receipt of the written revocation, regardless of whether the delivery of the goods or materials were made after BGS’s receipt of the revocation. Guarantor hereby waives receipt from BGS of any notice of default by Applicant and BGS shall be under no obligation to pursue collection against the Applicant prior to any efforts to enforce this Guarantee. In the event there is more than one Guarantor signing this Guarantee of Credit, each shall be jointly and severally liable. This Guarantee of Credit shall be binding upon the successors, heirs and assigns of the Guarantor(s). BGS reserves the right to terminate this agreement and revoke the Applicant’s credit upon notice of the revocation of this Guarantee by Guarantor(s). Guarantor authorizes BGS and its credit investigation agency to contact and receive information from any source regarding my business and/or personal credit. It is understood this information will be held in the strictest confidence and used only by BGS’ credit department or in the event collection efforts are required against Guarantor.
* Additional credit beyond the amount initially requested may be granted at BGS discretion. If granted, the terms of this application and guarantee shall apply to all purchases.
**Please attach a copy of your loan commitment or name & address of the Bank and Personal contact.