Credit Terms and Conditions
1. Payment Terms. ALL INVOICES ARE PAYABLE AT NET30 TERMS FROM THE DATE OF INVOICE UNLESS OTHERWISE APPROVED IN WRITING. CREDIT APPROVAL IS REQUIRED.
2. Late Payment. If Applicant fails to make any payment when due, Applicant agrees to pay Creditor late charges at the rate of ten percent (10%) per week on all past due, unpaid amounts to include late fees. If for any reason the rate of ten percent (10%) is found to be unenforceable, Applicant agrees to pay Creditor late charges at the maximum rate then permitted by West Virginia State law. Applicant agrees to pay all costs of collection including legal expenses and reasonable attorney fees incurred by Creditor to collect any amounts due to Creditor from Applicant which are not paid on time if said account is turned over for collection.
3. Credit Limit. Creditor reserves the right to approve, deny, or revoke the credit of any Applicant/Customer. If the Creditor revokes a Customer/Applicants credit limit, all invoices will be due immediately. The Creditor may exercise these rights at any time with or without notice.
4. Notices. The Business Credit Application and Agreement shall continue in full force and effect until such time as one party shall receive from the other party (by regular mail delivery or by certified or electronic e-mail) written notice of revocation and/or change of status. Such notice shall be delivered or sent to the party at its address/email address listed on the Business Credit Application. Notice of Revocation and/or Change in Status shall not in any way relieve the applicant from liability for any indebtedness incurred prior to the actual receipt of such notice. Moreover, receipt by Creditor of a check(s), or correspondence showing a different name than the name on the account shall not constitute written notice of a change of status.
5. Jurisdiction. The parties hereby agree that they submit to the personal jurisdiction of any state district court in West Virginia for any matters relating to this Agreement or with respect to goods purchased by Applicant from Creditor. The parties further agree that in the event a dispute or claim should arise, both Creditor and Applicant stipulate that such a claim shall be venue in the state district courts of West Virginia.
6. Construction. This Agreement shall be construed on the rights and obligations of the parties hereunder and shall be governed by the laws of the State of West Virginia.
7. Credit Worthiness. Credit worthiness is determined by many factors. If the applicant is denied an extension of credit, creditor reserves the right to either extend credit on a case by case basis or to require applicant to prepay all charges. At no time will the applicant be able to pay on a C.O.D. basis unless credit is revoked.
8. Claims. Applicant affirms that a broker and a carrier are two separate entities. Under the Carmack Amendment to the Interstate Commerce Act a carrier is liable for damage or loss incurred during a shipment of goods but a broker who only arranges the transportation is not liable for a claim. Applicant also affirms that all claims must be made against the Carrier in possession of the physical freight and the Broker will help facilitate a claim against the carriers insurance company. Any denial or approval of any claim is not made by the Broker. Customer affirms that any legal action will be brought against the carrier and not the broker for any damage claims. This includes LTL carriers and LTL shipments.
9. Theft. Applicant/Customer agrees that they have insured their product against theft and that broker is absolved from claims or damages due to freight theft.
10. LTL Classes and NMFC. Applicant/Customer agrees that they are required to provide all NMFC classifications for any freight shipped. If a re-classification happens due to the NMFC not being used or an incorrect NMFC was used, the Applicant/Customer agrees to be responsible for any applicable re-class/re-weigh charges.
11. Denial of Credit. By signing below, applicant agrees that if a denial of credit is provided, the reasons, nor a letter explaining the decision will be required to be provided to the Applicant by the Creditor.
12. Refrigerated LTL: Please note with refrigerated LTL; our carriers may ship between 33° to 40° and -10° to 0°. Clients affirm they ship at their OWN RISK. StarKing will facilitate claims but we will not be liable for any LTL claim or damage due to temperature, shipment damage, or carrier negligence.
13. Our rate confirmations require our carriers to invoice within 30 days of delivery. If they do not, they do not get paid for the load. This is part of our contract with them to protect our credit with factoring companies. If this happens, it does not waive your requirement to pay for our invoice. You will still be required to pay us even if we do not pay the carrier.
14. Modification. This writing is intended as the entire Agreement between the parties and a complete and exclusive statement of the terms and conditions of their Agreement which will only be modified or rescinded as expressly provided for hereby or in writing signed by both parties..