COOPERATIVE                 
Credit  09/06/17 3:04:55 PM Departments 

Credit Policy

All accounts that are opened need a credit application filled out.

All accounts are due and payable by the 25th day of the month following purchase. If the amount for which credit is extended is not received before the 25th day of the following closing date, a finance charge will be assessed 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 1.5% per month (periodic rate of .049315% per day) against that part of the past due balance. (Annual percentage rate of 18%).

Any account over 60 days is past due and further credit will not be extended until account is current.

That seller, under its Articles of Incorporation and Bylaws, has a first lien on its Capital Stock or Equities owned by Buyer for any debt due to Seller by Buyer. Seller also has the right to discount and set off said equities. Credit privileges may be revoked from any customer with a past history of credit problems. Such privileges may be reinstated by the General Manager or Credit Manager.


The General Manager or Credit Manager may impose a ceiling on credit being extended to any patron.

The General Manager or Credit Manager reserve the right to deny any applicant the privilege of charging if such applicant is considered a poor credit risk. There will be a $40.00 collection fee on all non-sufficient funds checks received by the Cooperative. All customers who write a non-sufficient check will lose check cashing privileges.

Any special feed mix or fertilizer blend prepared specially for C.O.D. patrons shall not be mixed until the C.O.D. patron has paid for the product in full in advance.

C.O.D. patrons will make payment at the office before petroleum salesman delivers product. No other products may be left on the premises of C.O.D. patron.

Any special ordered item not normally carried in stock that lists at $50.00 or more shall require a 25% minimum deposit before the item is ordered for C.O.D. patrons.

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DISCLOSURE NOTICE
OPEN-END CREDIT PLAN AGREEMENT

In consideration of the extension of credit by this cooperative, the undersigned agrees as follows:

 

  1. THAT THE CLOSING DATE OF THE BILLING CYCLE WILL BE THE 23RD OF THE MONTH.
  2. IF THE AMOUNT FOR WHICH CREDIT IS EXTENDED IS NOT RECEIVED BEFORE THE
  3. SECOND CLOSING DATE AFTER PURCHASE, A FINANCE CHARGE OF 1 1/2 PER MONTH WILL BE ASSESSED ON THE PAST DUE BALANCE. THE PAST DUE BALANCE IS COMPUTED BY DEDUCTING ALL CURRENT PAYMENTS AND CREDITS FROM THE PREVIOUS BALANCE.THAT IF THE AMOUNT FOR WHICH CREDIT IS EXTENDED IS RECEIVED BEFORE THE SECOND CLOSING DATE AFTER PURCHASE, A FINANCE CHARGE WILL NOT BE ASSESSED.
  4. THAT ALL ACCOUNTS OVER 60 DAYS OLD ARE DELINQUENT AND CONSTITUTE THE SUSPENSION OF FURTHER CREDIT.
  5. THAT THIS COOPERATIVE, PURSUANT TO IS ARTICLE OF INCORPORATION AND BY-LAWS, HAS A SECURITY INTEREST OF A FIRST LIEN ON THE CAPITAL STOCK OR EQUITIES HELD BY THE PATRON FOR ANY DEBT DUE BY THE PATRON WHICH IS DEEMED UNCOLLECTIBLE BY THE BOARD OF DIRECTORS OF THIS ASSOCIATION.

THE ACKNOWLEDGED RECEIPT OF A COPY OF THIS INSTRUMENT AND AGREEMENT TO THESE TERMS AND CONSIDERATIONS IS EVIDENCE BY YOUR USE OF THE ACCOUNT AFTER RECEIPT OF THIS NOTICE.

Click here for Personal Credit Applications
Click here for Business Credit Applications
Click here for LP Lease Form
Click herefor LP Schedule Delivery Agreement Form
Click herefor LP  Take Off Keep Fill Form

Click herefor Sales Tax Exempt Form
Clickhere for Gasoline Road Tax Exempt Form
Click herefor ACH Form
Click herefor Cardtrol Card and/or Cash Patronage Card Form
Click herefor Stock Retirement Form
Click here CFA Brochure
Click here for CFA Credit Application

 
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