Charge Account Terms and Conditions

COMPANY LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

DATE: {{date}}

CHARGE ACCOUNT TERMS AND CONDITIONS

These Charge Account Terms and Conditions (the 'Agreement') govern the establishment and operation of a credit facility (the 'Charge Account') extended by {{company_name}} (the 'Creditor') to {{customer_name}} (the 'Customer') of {{customer_address}}.

1. APPLICATION AND APPROVAL

1.1. The Customer acknowledges that the creation of a Charge Account is subject to the successful completion of a credit application process and the Creditor's sole discretion.

1.2. The Customer warrants that all information provided in the credit application is true, accurate, and complete in all material respects. The Customer undertakes to notify the Creditor promptly of any changes to such information.

1.3. The Creditor reserves the right to decline any application without providing reasons.

2. CREDIT LIMIT

2.1. Upon approval, the Creditor will set a credit limit for the Charge Account, which will be communicated to the Customer in writing. This limit may be reviewed and adjusted by the Creditor from time to time, at its sole discretion, with prior notice to the Customer.

2.2. The Customer agrees not to exceed the allocated credit limit. Any transactions exceeding the credit limit may be declined or, if processed, will be immediately due and payable.

3. PAYMENT TERMS

3.1. All invoices for goods or services supplied on the Charge Account are due and payable within {{payment_days}} days from the date of the invoice, unless otherwise agreed in writing.

3.2. Payments shall be made in {{currency}} to the Creditor's nominated bank account, details of which will be provided on the invoice.

3.3. The Customer agrees that any amounts unpaid by the due date may accrue interest at a rate of {{interest_rate}}% per annum, calculated daily and compounded monthly, from the due date until full payment is received. The Creditor reserves the right to charge a late payment administration fee of {{late_fee_amount}} for each overdue invoice.

4. STATEMENT OF ACCOUNT

4.1. The Creditor will issue monthly statements of account to the Customer. It is the Customer's responsibility to review these statements and notify the Creditor of any discrepancies within {{discrepancy_days}} days of receipt.

4.2. In the absence of such notification, the statement of account will be deemed correct and accepted by the Customer.

5. DEFAULT

5.1. The Customer will be in default of this Agreement if:

a) The Customer fails to make any payment on the due date.

b) The Customer breaches any other term or condition of this Agreement.

c) The Customer becomes insolvent, bankrupt, or enters into any form of business rescue or liquidation.

5.2. In the event of default, the Creditor may, without prejudice to any other rights or remedies it may have:

a) Immediately suspend or terminate the Charge Account and all credit facilities.

b) Declare all outstanding amounts immediately due and payable.

c) Charge legal costs, including attorney-client costs, incurred in the recovery of overdue amounts.

d) Report the default to relevant credit bureaus.

6. TERMINATION

6.1. Either party may terminate this Agreement by providing {{notice_period}} days' written notice to the other party.

6.2. Termination of the Charge Account will not affect the Customer's obligation to pay any amounts outstanding at the time of termination.

7. GOVERNING LAW AND JURISDICTION

7.1. This Agreement shall be governed by and construed in accordance with the laws of {{country}}.

7.2. The parties consent to the non-exclusive jurisdiction of the courts of {{country}} for any dispute arising out of or in connection with this Agreement.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

9. SIGNATURES

For and on behalf of {{company_name}}:

___________________________

Name: {{creditor_signatory_name}}

Date: {{creditor_signature_date}}

For and on behalf of {{customer_name}}:

___________________________

Name: {{customer_signatory_name}}

Date: {{customer_signature_date}}

Position: {{customer_signatory_position}}