Business Credit Application Form

Business Credit Application

This is a 30 day account, balance is due in full by the 25th of the following month.

PRINCIPLE INTERESTED INDIVIDUAL (THIS PERSON AGREES TO BE RESPONSIBLE FOR PAYMENT OF THE ACCOUNT: THIS SECTION MUST BE COMPLETED

YOU GIVE US PERMISSION TO REQUEST CONSUMER CREDIT REPORTING FROM AGENCIES TO CREDIT, AND TO REVIEW OR COLLECT THE ACCOUNT AT ANYTIME. YOU AGREE THAT YOU HAVE REVIEWED THE ATTACHED TERMS AND CONDITIONS OF THIS APPLICATION.

PARTNERSHIPS MUST SIGN THIS DOCUMENT

(NO CREDITS WILL BE GIVEN WITHOUT THIS DOCUMENT COMPLETED

THE NAME OF EACH PARTNER AND THAT PARTNER'S SIGNATURE IS SET FOURTH BELOW. EACH PARTNER IS RESPONSIBLE FOR PAYMENT OF THE ACCOUNT AND SIGNS ON BEHALF OF SELF PARTNERSHIP.
TRADE REFERENCES
REFERENCE 1
REFERENCE 2
CREDIT POLICY

This credit policy is applicable to those patrons for whom credit has been approved.

1. Sioux Valley Cooperative will pay interest on credit balances of $100.00 or more at a competitive interest rate. Interest will be computed daily and will be set by the Board of Directors. We also at our discretion can and will fill fuel or propane tanks when in the area and at our convenience regardless of what credit balances are on patrons accounts. Sioux Valley Cooperative will not accept and payment larger than your last year's purchases. All credits must be used on merchandise unless approved by the Board of Directors.

2. Cash Discounts of $.10 per gallon will be allowed on bulk purchases if your account is current and your purchase is paid within 10 calendar days of delivery, or if you have a credit balance. Discounts may change without notice. Transports loads will be paid in full within 10 days or a $.10 per gallon will be added on to original price product.

3. The closing date of the billing cycle will be on the last business day of the month. All accounts are due and payable in full upon receipts of the monthly statement or by the 25th of that month.

4. All customers must complete credit applications before credit is extended. The CEO or Credit Manager will determine the limit or refusal or credit given.

5. All accounts that are over 30 days old will be put on a cash basis unless arrangements are made with the CEO/General Manager or Credit Manager.

6. Any past due accounts forfeit any or all cash dividends, stocks, or equity within the company as form or payment towards their account.

7. Any check returned from the bank will be forwarded to a collection service and the patrons account will be considered cash only until the check is paid in full. Any fees will be paid by patron.

8. If the amount for which credit is extended is not received before the next closing date, a finance charge will be accessed on the past due balance. The past due balance is computed by deducting all current payments and credits from the previous balance. The finance charge will be computed by applying a periodic rate of 1.67% per month which is equivalent to an annual percentage rate of 20%.

DELIVERY POLICIES

1. Any account not on a KEEP FULL basis must give a 3-day lead notification and be called in during the week (Monday - Friday). Late call-ins Friday - typically after 4 p.m. - will be done the following Monday, unless otherwise specified.

2. With exception to busy times of the year such as planting, harvest, and drying season which require longer hours of service, we would liek to have deliveries made Monday - Friday to help keep costs down.

3. All customers who have contracts shall be considered a KEEP FULL account. Contracts will start with the first fill after the contract date and will continue until the contract is used up or the deadlines date whichever comes first.

4. All first time fills must be paid for the time of delivery unless credit approval has been given prior to delivery.

5. A $.06 cent per gallon discount can be taken, for those without past due balance, or if the charge is paid within 7 business days.

6. All accounts will have the option to prepay contracts or complying with the cash terms credit policy.

7. Rental Properties: There will be no crediting or gallons, by Sioux Valley Coop, to the landlords and tenants. Once the product is paid for it will be up to the landlord to settle with the tenant. Any leased tanks shall be leased to and paid for by the landlord.

8. In order to remain on a keep full basis the customer account must be current.

9. Any orders requiring same day delivery will be assessed an $80.00 minimum delivery charge over and above the regular price of the product delivered. Weekend, holidays or after normal working hour deliveries will pay $120 minimum delivery charge over and above the regular price of the product delivered. Any further services needed will be an additional charge depending on time spent.

10. Summer fill: all past due accounts must be paid in full before receiving summer fill. All summer fills must be paid for prior to first seasonal delivery. No summer fills will be considered part of a prepaid contract.

11. Minimum Orders: anyone wishing to order less than 200 gallons of fuel must give a 3-day lead notification before delivery. If a 3-day notice is not given there will be an $80.00 delivery fee added onto the invoice, Any deliveries made for less than the gallon minimum do not qualify for the cash discount even if the product is paid for in advance or at time of delivery. These charges will be assessed and must be paid for at the time of delivery before any product will be pumped. The fee mentioned will be charged at the discretion of management.

12. We will not go out of our way or make special trips to fill equipment in the field since deliveries are scheduled and on a route.

13. Out-of-Gas Situation: If this situation exists there will also be an additional $50.00 leak check charge assessed. If the customer is not home and prior arrangements have not been made for the leak check to be performed, the delivery will not be made. Further charges may be assessed if another trip must be made. Customers who run out twice in a session will be dropped.

14. Our employees have the right to refuse delivery if an unsafe condition exists.

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Phone: (605) 886-5829