Open Your KGM Wholesale Account

1. Payment Terms. If approved, Applicant's account will be extended payment terms of Net 15 days from the invoice date. Net 30 day terms may be extended instead to qualifying wholesale or large-distributor accounts, at KGM Wholesale's (“KGM”) sole discretion. KGM may modify, suspend, reduce, or revoke any credit terms or credit limit at any time, with or without notice or cause, at its sole discretion.

2. Late Payment / Finance Charge. Any invoice not paid in full by its due date is subject to a finance charge equal to 2% of the unpaid balance, assessed as soon as the invoice becomes past due, and again for each additional month or partial month the balance remains unpaid — for an effective rate of up to 24% per annum, or the maximum rate permitted by applicable law, whichever is less. Any part of a month in which a balance remains unpaid counts as a full month for purposes of this charge.

3. Costs of Collection. If Applicant's account becomes past due and is referred to a collection agency or attorney, Applicant agrees to pay all reasonable collection costs, attorney's fees, and court costs incurred by KGM in connection with collecting the outstanding balance, to the extent permitted by law, in addition to the unpaid balance and any accrued finance charges.

4. Credit Investigation & Reporting. Applicant authorizes KGM to contact the bank and trade references listed above, to obtain business and/or personal credit reports on the Applicant and the undersigned guarantor(s), and to share payment history with commercial credit reporting agencies, both in connection with this application and on an ongoing basis while the account remains open.

5. Personal Guaranty. The undersigned, signing both in a representative capacity on behalf of the business named above and in their individual capacity, personally and unconditionally guarantees prompt payment of all amounts owed to KGM by the business, including the unpaid principal, finance charges, and collection costs described above, in the event the business fails to pay when due. This guaranty is continuing and remains in effect until KGM receives the guarantor's written notice of revocation; revocation does not relieve the guarantor of amounts owed as of the date notice is received.

6. Authority to Sign; Unauthorized Signature. The individual signing this Application represents and warrants that they are duly authorized to execute this Agreement and to bind the business named above. If the signer did not, in fact, have such authority, the signer, the business, and the business's owner(s) shall nonetheless each be jointly and severally liable, to the same extent as if the signer had been duly authorized, for all amounts owed to KGM under this Agreement, including the personal guaranty described above.

7. Governing Law. This Agreement is governed by the laws of the State of Michigan, without regard to its conflict-of-law provisions. Applicant and guarantor consent to jurisdiction and venue in Wayne County, Michigan for any dispute arising from this Agreement.

8. Accuracy of Information. Applicant certifies that all information provided in this application is true, accurate, and complete to the best of Applicant's knowledge, and understands that KGM is relying on this information in deciding whether to extend credit.

9. Entire Agreement. This Credit Application, together with KGM's standard terms of sale referenced on invoices and order confirmations, constitutes the entire agreement between the parties regarding credit terms and supersedes any prior oral or written agreements on the subject.