BUSINESS CREDIT TERMS & CONDITIONS

 

Miter Brands and all its subsidiaries, divisions, or brands, to include but not limited to, Anlin Windows-Doors, CGI Windows and Doors, Inc., CGI Commercial, Milgard Windows & Doors, MI Windows and Doors, PGT Innovations, Sunrise Windows and Doors, Western Window Systems, and WinDoor, (collectively, “MITER”)

For the purpose of inducing MITER to extend credit for merchandise, materials, parts, and services, the undersigned business applicant (“Applicant”) certifies that all information provided in the credit application is true and correct.  Applicant agrees to the following Credit Terms:

 

  1. The Business Credit Terms incorporate by reference, and each transaction is subject in its entirety to, the respective MITER Terms and Conditions of Sale to Customers (the “Terms and Conditions of Sale”) or Dealer Agreement.  Additional terms and conditions not stated herein are also included in MITER’s Customer Price Book.  Applicant acknowledges receipt of and agrees to be bound by the Terms and Conditions of Sale, MITER’s Customer Price Book, Dealer Agreement, and any other sales document.

 

  1. All Applicants (new or existing) seeking credit terms with MITER must complete and submit a credit application.  The submission of a credit application does not guarantee approval of credit terms.  Except where prohibited by law, MITER may, in its sole discretion, decline to accept the Credit Application for any reason or no reason.  Any changes in the ownership of the Applicant may, at MITER’s discretion, require a new credit application.              

 

  1. Credit approval is subject to review of the credit application and assessment of the Applicants creditworthiness by MITER’s credit department.  To determine creditworthiness, it may be necessary at the discretion of MITER’s credit department to obtain additional information on the applicant.  This information may include, but is not limited to, commercial and/or consumer credit reports, financial statements, and industry credit group experiences.  Approval of credit terms will be communicated to the Applicant by phone or in writing by email.  MITER reserves the right to require a deposit or advance payment for orders from Applicants with insufficient credit history or poor payment records.

 

  1. Upon approval, each Applicant will be assigned a credit limit.  MITER reserves the right at any time to suspend the credit approval and revise the stated credit terms provided herein or withhold deliveries when MITER in its sole discretion deems such action necessary to protect its interests. 

 

  1. The standard payment terms for Applicants with approved credit are either 1%10N30 or Net 30 Days from the date of the invoice.  Exceptions will be at the sole discretion of the MITER credit department and sales management.  Payment must be made in full within the specified timeframe unless otherwise specified by MITER.

 

  1. If any account held by Applicant becomes delinquent, MITER reserves the right to suspend credit privileges, revoke or modify terms of the Terms and Conditions of Sale or Dealer Agreement, place all future orders on hold, place and foreclose on property liens, or seek any other remedy available at law or equity.  Release from credit hold will commence after payment is received to the satisfaction and sole discretion of MITER.   Should it be necessary, in MITER’s sole discretion, to assign the account balance to a collection agency or attorney for legal action, all subsequent collection charges and legal fees, including principal, interest and reasonable attorneys’ fees and costs shall be paid by applicant to the extent permitted by applicable law. 

 

  1. A late fee may be applied to any payment not received by the due date.  Interest will accrue on the outstanding balance at a rate not to exceed that which is permissible by law in the applicant’s state of residence.

 

  1. Any disputes regarding invoiced amounts must be communicated to MITER in writing within 30 days of the invoice date.  Failure to dispute an invoice within this timeframe may be construed as acceptance of the charges.

 

  1. MITER may report payment performance and account status to credit reporting agencies or trade group credit organizations.  Timely payment of invoices can positively impact the Applicant’s credit profile, while late payment may have adverse effects.

 

  1. MITER reserves the right to avail itself of all protection afforded under the Applicants state of residence Construction Lien Laws or such similar applicable law under the United States Uniform Commercial Code.  By accepting credit terms, and as a requirement determined by MITER to grant credit, it may be necessary for the Applicant to sign a security agreement in support of such credit requirement. 

 

  1. MITER’s failure to require performance of any provision hereof shall not affect MITER’s right to require performance at any time thereafter, nor shall a waiver of any default of this agreement constitute a waiver of any subsequent breach or default.

 

  1. Applicant represents and warrants that MITER’s extension of credit to Applicant is solely for the Applicants business purposes, and such extension of credit is not primarily for personal, family, or household purposes.

 

  1. Except where prohibited by law, if Applicant uses a credit card to make a payment due to MITER, MITER may charge Applicant a surcharge to cover the transaction processing fees incurred by MITER because of that transaction.

 

  1. Applicant shall not transfer or assign this agreement without expressed prior written consent by MITER.

 

  1. These credit terms and conditions may be amended by MITER at any time with written notice to the customer.  Continued engagement in business with MITER following such notice constitutes acceptance of the amended terms.

 

  1. All financial information exchanged between MITER and the Applicant shall be treated as confidential and used solely for the purpose of conducting business.

 

  1. Except as otherwise required by applicable law, this agreement will be construed and interpreted in accordance with the laws of Florida and the exclusive venue for legal action hereunder shall be in Sarasota County, Florida.

 

 

 

 

Printed Name of Applicant: ____________________________________________                  Title: __________________________

 

Signature of Applicant: ________________________________________________                  Date: _________________________

(MUST BE SIGNED BY OFFICER/PRINCIPAL)

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