Confidential Credit Application & Agreement

(“the company”) applies for the extension of credit by Shipyard Supply and submits the following information as a basis for SHIPYARD SUPPLY consideration. SHIPYARD SUPPLY IS HEREBY AUTHORIZED TO UNDERTAKE ANY INVERSTIGATIONS OR MAKE ANY CONTACTS NECESSARY TO VERIFY THIS INFORMATION.
Trade References
The Company is able to meet its financial commitments and agrees expects to pay SHIPYARD SUPPLY invoices according to the terms and contained thereon. Should payment not be made within the specified time the company agrees to pay a finance charge computed at the rate of 1 1/2% per month on all outstanding balances? This is an ANNUAL PERCENTAGE RATE OF 19%. Should the forgoing interest rate be usurious under applicable state law the Company hereby binds itself to pay the maximum rate permitted by law. Should it be necessary to place this acct.

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