Where possible, BUYER shall agree to MX Petroleum Corp.’s (Herein referred to as SELLER) 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 seller to BUYER when the product passes the flange or spout between SELLER’S delivery line and BUYER’S receiving connection or equipment. Whether truck, rail car, barge or other receiving equipment.
CREDIT: SELLER 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 SELLER, the BUYER will issue security in a form and amount acceptable to the SELLER 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; SELLER 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, SELLER 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, SELLER reserves the right to charge any credit card on file or perform an E.F. T. payment using BUYER’S bank information to secure the balance past due on your account. If this option is not available, SELLER also reserves the right to proceed with collections through a 3rd party agency or take civil action against BUYER in a court of law. Any expense accrued by SELLER while attempting to collect a debt owed, including but not limited to reasonable attorney’s fees and court costs, must be reimbursed to SELLER by you the BUYER.
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 the SELLER by the BUYER. If BUYER is exempt from any taxes, fees or charges, it must provide the Seller with a proper Exemption Certificate prior to lifting any product. Failure to timely provide the proper Exemption Certificate shall automatically subject 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 the SELLER nor 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.
MX PETROLEUM CORP.
GENERAL TERMS AND CONDITIONS
CLAIMS: Any controversy or claim regarding the quality of purchased product will be Time-Barred unless by the BUYER in writing to the Seller within ten (10) days of purchase date.
ASSIGNMENT: The BUYER cannot assign any of its product contract rights or obligations without the prior written consent of the SELLER. Seller may assign the product contract rights for the purpose of financing to its banks and/or financial institutions.
WAIVER: Any failure of the SELLER 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, SELLER 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 Seller be liable for incidental, consequential or punitive damages.