KRAVET INC., CREDIT AGREEMENT
IN CONSIDERATION of Kravet Inc. extending credit to the applicant, in order to facilitate the purchase of Kravet Inc. products, the undersigned applicant/account holder agrees to the following terms and conditions of sale:
CREDIT LIMIT If approved by Kravet Inc., the applicant will be assigned a Credit Limit, which is subject to periodic revisions as Kravet Inc. deems necessary.
SALES TAX By law, Kravet Inc. and its subsidiaries is required to collect sales tax in any state or jurisdiction where we have a corporate office and/or showroom or may otherwise be doing business. Sales tax charges are based on the state or jurisdiction the orders are shipped to, and not the state or jurisdiction the business resides in. Customers who provide us with a valid resale tax certificate are not charged sales tax when goods are shipped into that state. By entering into a Terms and Conditions agreement with Kravet Inc., you acknowledge and agree that you are responsible for being in compliance with all applicable state and federal laws, including responsibility for paying all applicable state and local taxes imposed on the distribution/sales of any applicable products. You also acknowledge and agree that you are required to provide a State Resale Certificate or Exemption form to Kravet Inc. at Salestax@Kravet.com to be considered tax exempt in a specific state or jurisdiction. Kravet Inc. and its subsidiaries is not responsible for those taxes that you are legally required to pay or collect from consumers at the point of sale. Kravet Inc. does not warrant the operation and validity of the resale certificate. It is your responsibility to provide Kravet Inc. with a valid and appropriate “Resale Tax Exemption Certificate”, to demonstrate under applicable law that products sold and delivered to you are delivered for resale in the ordinary course of business and therefore not subject to sales or other applicable tax, if any at the time of sale from Kravet Inc. to you.
RETURNED PAYMENTS- A service charge of $35.00 will be applicable for any returned check or ACH/Electronic Payment transaction.
REVOCABILITY When invoices are past due, or if the applicant’s account has reached its assigned Credit Limit, Kravet Inc., at its own discretion, retains the right to hold shipments pending payment. Kravet Inc. may also place the applicant on Proforma or other cash terms for failure to pay within terms.
LITIGATION In the event of any litigation arising out of this agreement, the applicant agrees to pay all reasonable attorney fees and other costs of collection.
WAIVER The failure of Kravet Inc. to enforce any provision of this agreement does not waive Kravet Inc.'s rights to enforce the remaining provisions of this agreement.
STATE LAWS This Credit Agreement will be governed by the laws of the State in which credit is extended.