A division of Belron Incorporated (hereinafter "Belron")
** Registered name (Hereinafter "CLIENT")
Financial information: CLIENT authorizes Belron to obtain at all times from third parties any and all financial information pertaining to CLIENT and authorized any such third parties to provide said information. BELRON is authorized to disclose to any third parties financial information of the CLIENT.
Sale on instalment basis: Any goods sold by BELRON to the CLIENT remains the exclusive property of BELRON until full and complete payment thereof. If goods sold and delivered are repossessed, BELRON shall keep any sum paid by the CLIENT as liquidated damages. Any amount paid by the CLIENT shall be applied firstly to pay for those goods whereof payment has been outstanding the longest time.
Terms of sale: Terms net 30 days
Interests: Amounts remaining unpaid after 30 days from invoice date shall bear interest at the rate of 2% per month (25% per-Annum)
Damages: In the event Vanfax/Belron retains the services of an attorney / collection agency to pursue the collection of any delinquency on the CLIENT's account(s), the CLIENT will pay all attorney/collection fees, expenses and court costs incurred by Vanfax/Belron in connection with a trial or appeal of, if a lawsuit is not filed, all attorney/collection fees and expenses incurred by Vanfax/Belron Canada related to the final collection of the account.
Election of domicile: CLIENT declares that he elects domicile in the judicial district of Montreal and that procedure of any nature whatsoever must be instituted in the said judicial district of Montreal.
Right of refusal: This credit application to open an account is subject to approval by BELRON. If approved, the latter reserves the right to refuse additional credit to the CLIENT without any notice.
Declaration: I, the undersigned, duly authorized representative of the CLIENT, declare having read this credit application and consent to the clauses mentioned above. The CLIENT expressly revokes the nullity of any clauses included in this credit application as a result of being incomprehensible, illegible or abusive. The CLIENT certifies that all information submitted in this credit application is accurate and true.
PERSONAL GUARANTEE
The undersigned (individually or collectively, hereinafter called “GUARANTOR”, understand, agree and accept the following terms and conditions, which shall apply to any and all credit extended by “Belron Canada and/or it’s subsidiaries” (hereinafter called the “COMPANY”) to, «_____________», (hereinafter called the “CLIENT”);
- The GUARANTOR hereby guarantees jointly and severally with the CLIENT payment of any and all amounts due by the CLIENT to the COMPANY, including interest at 2% per month, 24% annually, as well as all collection and legal costs incurred by “Belron Canada”, should collection proceedings be necessary due to the Client’s default as per the terms and conditions of the credit facilities extended to the CLIENT. Where there is more than one guarantor, such guarantors shall be held jointly and severally liable without having a right to plead the benefit of division and of discussion to this effect.
- The GUARANTOR hereby expressly renounces to any benefit of discussion, division and subrogation. The present guarantee shall remain in force indefinitely for the benefit of the COMPANY and the GUARANTOR waives the right to terminate this guarantee unilaterally. The present guarantee shall also be applicable to any and all amounts due by the CLIENT to the COMPANY even if said amounts are in excess of any established credit limit.
- The GUARANTOR expressly authorizes the COMPANY to obtain and/or to update as the case may be, from specialized companies, trade references, credit agencies and/or financial institutions all personal information on the GUARANTOR, in order to permit the COMPANY to provide and to continue to provide credit facilities to the CLIENT. It is understood that should the GUARANTOR become insolvent or bankrupt, the COMPANY may suspend or cancel the CLIENT’s credit privileges, without further notice, delay or indemnity.
- The GUARANTOR acknowledges receipt of a duly executed copy of the “Credit Application” which forms an integral part thereof, and declares itself entirely satisfied with the terms and conditions therein accepting all of the CLIENT’s obligations as its own.
- The GUARANTOR declares having been given the opportunity to seek independent legal advice prior to signing this document and that same was negotiated in good faith by both parties without which the COMPANY would not have accepted to extend credit facilities to the CLIENT.
- This guarantee shall bind the GUARANTOR’s heirs, successors, and legal assigns.
- Any litigation between the parties shall be referred to the courts having jurisdiction within the judicial district of Montreal, Province of Quebec.
- With the exception of “CLIENT/GUARANTOR” from the province of ALBERTA, the undersigned recognizes that should this guarantee be transmitted by fax, the facsimile of the signature below shall be as valid as if forwarded to the COMPANY in original form.
- For all CLIENT/GUARANTOR from the province of ALBERTA, in order to comply with the “GUARANTEES ACKNOWLEDGEMENT ACT,” the “CLIENT/GUARANTOR” providing the “Personal Guarantee” must appear before a notary public. The notary public, after being satisfied by examination of the “CLIENT/GUARANTOR” entering into the obligation that the “CLIENT/GUARANTOR” is aware of the contents of the guarantee and understands it, shall issue a certificate under the notary public’s hand and seal of office in the prescribed form.
