Credit application

CREDIT AGREEMENT

This application, if accepted by Ground Air Co. will constitute the binding agreement between the Applicant and Ground Air Co. pursuant to which Ground Air Co. will extend credit and advance funds on behalf of Applicant for the payment of freight charges, custom duties etc., for consignments handled by Ground Air Co.

PAYMENT OF GROUND AIR CO. INVOICES:

Payment is due upon receipt of Ground Air Co. invoice. Ground Air Co. may charge interest at 3.5% per month on accounts over 30 days.

In the event the shipment dispatched by Applicant is moved on a “collect” or “third party bill to” basis requiring Ground Air Co. to collect the freight charges from the consignee, or from a third party, Applicant agrees to pay the freight charges in the event the consignee or third party fails or refuses to pay said charges after Ground Air Co., at Ground Air Co. sole discretion, makes reasonable efforts to collect the freight charges from the consignee or third party.

CREDIT LINE:

Applicant understands and agrees credit will not be extended by Ground Air Co. unless Applicant’s account is current and the agreed credit line is not exceeded. Ground Air Co. may cancel credit at any time and for any reason, without notice.

FEES:

In the event Ground Air Co. retains legal counsel or other representation to collect the freight charges due from Applicant under the terms of this credit agreement, Applicant agrees to pay, in addition to any amounts otherwise due, all costs, expenses and reasonable attorneys’ fee or representative fees incurred by Ground Air Co. in connection with its collection efforts.

Any check returned for any reason, including but not limited to, due to insufficient funds, will be assessed a fee of $150 and placed for collection.

REFERENCES:

Ground Air Co. is authorized to obtain trade and bank references. GRANTING OF CARRIER’S LIEN:

Ground Air Co. shall have a general and continuing lien on any and all property of Applicant coming into Ground Air Co. actual or constructive possession or control for monies owed Ground Air Co. by Applicant with regard to the shipment on which the lien is claimed, a prior shipment or shipments and/or both.

GOVERNING LAW:

The terms of this credit application shall be governed by the laws of the State of North Carolina and in the event a dispute arises out of the terms of this credit application or in connection with the transportation services rendered by Ground Air Co. the Applicant stipulates and agrees to consent to the venue and jurisdiction of the state and/or federal courts of the State of North Carolina, which shall not be exclusive.

OTHER:

Failure of Ground Air Co. to strictly enforce any of the terms contained herein shall not constitute a waiver of rights on subsequent breaches.