We require five credit references from active accounts – climbing vendors are preferred. Incomplete applications will not be processed.
THIS AGREEMENT was made and entered into as of Wednesday, September 23rd, 2020 by and between Nicros, Inc., a Minnesota corporation ("Nicros", "PM Climbing Systems"), and [Company/Organization], a Please select region, state or province [Type of Business] (the "Customer").
Whereas, the Customer desires to purchase certain goods from Nicros, Inc. on the credit terms set forth herein (the "Open Account"); and
Whereas, Nicros, Inc. is willing to sell goods to the customer upon the Open Account terms contained in this writing (this "agreement");
NOW, THEREFORE, in consideration of the mutual covenants set forth below, the parties hereby agree as follows:
(1) Open Account
Subject to the provisions in this Agreement, Nicros, Inc. hereby extends credit to the Customer for the purpose of purchasing goods from Nicros, Inc. The amount of credit shall be determined by Nicros, Inc. from time to time in its sole discretion. The payment terms shall be Net 30 days from the date of Nicros, Inc. invoice. Please contact Nicros/PM Climbing Systems to increase credit limit subject to approval.
Nicros, Inc. reserves the right, from time to time, to take the following actions in its sole discretion:
A. Right to Alter Terms.
Nicros, Inc. may alter the Open Account credit terms at any time, and for any reason, but only with respect to the unused portion of the Open Account. Nicros, Inc. shall give the Customer prior written or oral notice of any such decision in this regard.
B. Right to Revoke.
Nicros, Inc. may also revoke the Open Account credit at any time, and for any reason, but only with respect to the unused portion of the Open Account. Nicros, Inc. shall give the Customer prior written or oral notice of any such decision in this regard.
(3) General Terms and Conditions
The General Terms and Conditions are incorporated herein by reference and made a part of this Agreement. The parties have read these General Terms and Conditions and agree to the incorporation into this Agreement of each of them.
(4) Signature Authority
Each person signing below represents that (1) he or she has full authority to execute the Agreement on behalf of the party for which he or she has signed; and (2) the Agreement shall be a binding obligation of such party as soon as the Agreement is so executed by him or her.