Where possible, you the BUYER shall agree to MX Petroleum Corp.’s Standard Agreement prior to delivery of product from seller’s truck.
Title: Title and risk of loss, including without limitation, risk of damage, deterioration and/or evaporation, passes from MX Petroleum Corp. to you the BUYER when the product passes the flange or spout between MX’s delivery line and your, BUYERS, receiving connection or equipment. Whether truck, rail car, barge or other receiving equipment.
Credit: MX Petroleum Corp. will issue a credit limit at its discretion after receiving and examining references and other which may be requested for the purpose of establishing credit limits. SELLER reserves the right at any time to withdraw or adjust the credit limit. If required by MX Petroleum Corp., you the BUYER will issue security in a form and amount acceptable to MX or provide a Personal Guaranty.
Payments: Credit terms of payment will be set upon completion and review of this application and will be subject to credit limits assigned. To the extent that purchases remain unpaid beyond agreed terms; MX Petroleum Corp. will assess finance charges or interest, whichever is applicable, at the maximum rate allowable under State Law. Payments received will be applied to any finance charges or interest owing on the account first, with any remaining credit to be applied towards the aging balance.
If payment is not received within the allotted terms, MX reserves the right to revoke charge status. If full restitution is not made on purchases within 60 days and no other payment agreement can be reached, MX reserves the right to charge any credit card on file or perform an E.F. T. payment using your, BUYER’S, bank information to secure the balance past due on your account. If this option is not available, MX also reserves the right to proceed with collections through a 3rd party agency or take civil action against you the BUYER in a court of law. Any expense accrued by MX while attempting to collect a debt owed, including but not limited to reasonable attorney’s fees and court costs, must be reimbursed to MX by you the BUYER.
Automatic Payment Terms & Conditions Any customer enrolled in automatic payments with MX recognizes the following: MX desires the flexibility to collect payments for business transactions through the Automated Clearing House Network. The customer agrees to grant MX such flexibility.
Automatic Payment Customers (1) Authorize MX to collect payments for business transactions by their specified method EFT or automatic payment processing to a specified debit/credit card provided, (2) Certify that they have provided MX with a valid depository financial institution, (3) Directs that all such electronic funds transfers or automatic debit/credit card payments be made as specified (4) has provided all necessary documentation to process payments via their selected method.
Customer shall receive notice of invoices and/or debits in such form as requested and at such time as established by MX. If any debit to Customer’s account is dishonored by bank (for whatever reason), MX shall be entitled to recover from the Customer all fees and charges imposed by the bank. Any such occurrence of dishonored items may result in the termination of the customer’s credit status.
Taxes: All taxes, duties, fees or any other charges (collectively “Taxes”) that are imposed or assessed by any Federal, State, County or Local Government or Agency in respect to the purchased product will be paid to MX Petroleum Corp. by you the BUYER. If you the BUYER is exempt from any taxes, fees or charges, it must provide the MX with a proper Exemption Certificate prior to lifting any product. Failure to timely provide the proper Exemption Certificate shall automatically subject you the BUYER to pay such tax, fee or charge, include any applicable interest, penalties, and/or consequential costs or fees imposed upon Seller as a result of such failure.
Force Majeure: Neither MX Petroleum Corp. nor you the BUYER is liable for failure to timely perform any of his obligation under this contract, if failure was due to impediment beyond the party’s control, including but not limited to National and International markets in fuel supply and production. The party-claiming impediment shall give facsimile notice to the other party prior to delivery time and date. The party-claiming impediment shall use all reasonable and diligent efforts and delivery shall be suspended only so long as the impediment remains, unless the parties agree to terminate their mutual obligation.
Claims: Any controversy or claim regarding the quality of purchased product will be Time-Barred unless by you the BUYER in writing to the Seller within ten (10) days of purchase date.
Assignment: You the BUYER cannot assign any of its product contract rights or obligations without the prior written consent of MX Petroleum Corp. MX may assign the product contract rights for the purpose of financing to its banks and/or financial institutions.
Waiver: Any failure of MX Petroleum Corp. to enforce any provision shall not be deemed a waiver of the right to enforce such provisions in the future.
Warranty: Except as to quality, MX Petroleum Corp. makes no warranties, expressed or implied, with respect to the merchantability of product or otherwise. The warranty of fitness for a particular purpose is expressly disclaimed. In no event shall MX be liable for incidental, consequential or punitive damages.
