Riviera Produce Application Agreement
The undersigned represents that he or she is authorized to execute this application on behalf of the applicant and requests Riviera Produce Corporation and any of its subsidiaries (herein “Riviera Produce”) to sell and service the customer on this application, and further certifies that the statements made on this customer application are true, correct, and complete in all material respects. Customer and undersigned authorize Riviera Produce to investigate all references furnished pertaining to credit, including obtaining credit reports on the customer and the undersigned from outside credit agencies. The applicant understands that all purchases are subject to the following terms and conditions:
- All payments are due in accordance with the Perishable Agricultural Commodities Act of 1930 (7 U.S.C. 499e(c)). The seller of these commodities, Riviera Produce, retains a trust claim over these commodities, all inventories of food or other products derived from these commodities, and any receivables or proceeds from the sales of theses commodities until full payment is received. All payments are due in accordance with P.A.C.A. terms.
- All invoices are due and payable upon delivery of the goods and services unless credit terms have been granted. Any and all invoices outstanding are subject to interest rate of 1.5% per month if not within specified credit terms. Applicant also agrees to pay a fee of $50.00 per occurrence for returned checks or ACH’s that are dishonored for any reason.
- In the event of a delinquency in payment, the undersigned agrees that a service charge of 1.5% per month will be imposed on the total balance due. In the event of a default in payment the customer will pay to Riviera Produce all collections costs and an attorney’s fee of 33% of the total amount due which shall be considered sums owing corresponding to the underlying transactions under the P.A.C.A. trust. The undersigned personally guarantees payment in full of all indebtedness of the customer of Riviera Produce now existing or hereinafter incurred including any and all service charges, collection costs and attorney’s fees incurred as specified above, and waive any presentment, demand, protest, and any other notice from Riviera Produce regarding this guarantee of payment. This guarantee covers all sales whether or not the terms requested are COD. For purposes of this agreement the use of electronic medium for signatures shall have the same force and effect as an original signature. The use of corporate titles shall not limit the personal liability of the signatory. This credit application
shall be binding on applicant’s successors and assignees, as well as any personal guarantors.
