2020.01.28 CC Packet - Laserfiche WebLink

Home Browse Search

Rev. 0002 _____|_____ Buyer Seller Initial Initial 5 9. BUYER CREDIT REPRESENTATIONS. Buyer agrees that Seller may investigate Buyer’s credit and contact credit references to confirm Buyer’s ability to pay the amounts due under this Contract. Buyer’s signature on this Contract attests to Buyer’s financial responsibility, ability and willingness to pay in accordance with the terms of this Contract. Buyer represents to Seller that Buyer has no plans to file bankruptcy or seek other protection from Buyer’s creditors; that all the information in this Contract is correct; and that Buyer has read and understands this Contract. If requested, the Buyer will provide Seller with Buyer’s written authorization for Buyer’s lender and/or other credit references to communicate with the Seller. Seller reserves the right to determine if and under what circumstances credit will be extended to Buyer, including reserving the right to require payment in advance of shipment of the Product or supply of Work. 10. NONPAYMENT. 10.1. Interest. If Buyer fails to make any payment due under this Contract, interest will accrue on all unpaid amounts at the rate of 2% per month, or the highest amount allowed by law, whichever is less. 10.2. Attorney’s Fees. If Seller is required to incur costs or attorneys’ fees to enforce this Contract’s payment terms, such amounts will be added to the amounts owed by Buyer to Seller. 10.3. Suspension of Work for Non-payment. If Buyer fails to make any payments due to Seller under this Contract’s terms, Seller may stop work without further notice. Buyer will be liable to Seller for all payments due up to the time work is stopped, and for all losses sustained by Seller on materials, machinery, equipment or tools, overhead, profit, soft costs and damages. Seller will only restart work after Buyer has paid all money due to Seller and Seller is satisfied that Buyer has the ability to pay for the remaining work. 10.4. Other Installer Remedies for Non-payment. If Buyer fails to make progress payments or other amounts due to Seller under this Contract, Seller will have the right to (1) terminate this Contract, (2) retain all deposits, fees and progress payments Buyer has made, (3) place liens upon the Site for payment of any other amounts owed, and (4) foreclose any liens placed on the Site if the amounts due, including costs and interest, are not paid in full. Seller’s exercise of any option shall not preclude the exercise of the other options.