(2%) per month, which is an annual percentage rate of twenty-four percent (24%) will be applied to any past due billings. Date of payment is the date received by Ridderman & Sons Oil Co. Inc. if the account becomes more than 60 days delinquent and is placed in the hands of a collection agent or attorney; customer will pay reasonable collection charges incurred, including attorney fees.
All orders are subject to credit approval by Ridderman & Sons Oil Co. Inc. Credit Department prior to acceptance of the order. Orders may be refused and delivery may be withheld on accepted orders without liability on Ridderman & Sons Oil Co. Inc. part, if in its sole opinion, the customer has demonstrated sufficient financial ability to pay for the product on the terms and conditions of sale.
The undersigned, herby authorizes Ridderman & Sons Oil Co. Inc. or any of its affiliated companies the right to investigate the credit of applicant with any of its suppliers, financial institutions, credit bureaus or credit report agencies. Notwithstanding that this account made in the name of a company, I personally guarantee payment.