"We; us; our" - means the Company that has applied for credit with Pacific Overseas Forwarding Inc..

For the purposes of obtaining credit from Pacific Overseas Forwarding Inc.. we agree as follows:

1. We represent that the information supplied in the Credit Application and Agreement is in all respects complete, accurate and truthful. We agree to notify Pacific Overseas Forwarding Inc.. promptly, in writing, of any substantive changes in the information provided.
2. Pacific Overseas Forwarding Inc.. is authorized to obtain Trade and Bank references and we authorize those Trade and Bank references to release, on a continuing basis, all personal, partnership to corporate credit and financial responsibility information required by Pacific Overseas Forwarding Inc.. to make its' credit decisions. We hereby waive our rights to privacy with respect to all applicable Provincial, State or Federal Privacy Laws.
3. Credit limit and payment terms requested are contingent upon credit department approval. We understand that Pacific Overseas Forwarding Inc.. may cancel credit at any time without notice.
4. We agree to pay in full for all services rendered (without deduction or setoff) on the due date of each billing to Pacific Overseas Forwarding Inc.. at 101, 17637 - 1st Avenue, Surrey, British Columbia, Canada V3S 9S1. Payments made shall be applied by Pacific Overseas Forwarding Inc.. in the following order: on all interest charges, if any, and then, invoices beginning with the earliest in date up to the most recent.
5. We understand that our obligation to pay freight or other charges is governed by tariffs and that statutory compliance extends to us. We shall be unconditionally responsible for all freight or other charges for which credit has been extended pursuant to our Credit Application and Agreement. If the services of a broker, forwarding agent or others (collectively the "Agents") are utilized in connection with the payment of freight or other charges to Pacific Overseas Forwarding Inc, we agree that such Agents act as Shipper's or Consignee's Agents for such purpose and not as Agents to Pacific Overseas Forwarding Inc.. We further specifically agree that in extending credit to us, Pacific Overseas Forwarding Inc.. is relying upon our credit history and upon Pacific Overseas Forwarding Inc..'s lien on goods and not upon the credit of such Agents. We shall be absolutely and unconditionally responsible for payment to Pacific Overseas Forwarding Inc.. of all freight and other charges whether or not funds for payment of such freight and other charges have been advanced by me to Agents. If we provide funds to an Agent to pay freight or other charges due to Pacific Overseas Forwarding Inc.. we do so at our own risk, and in the event such Agent converts such funds to its own use or for any other reason fails to pay them to Pacific Overseas Forwarding Inc.., we shall remain absolutely and unconditionally liable to Pacific Overseas Forwarding Inc.. for the payment of such freight and other charges. In no event shall any demand by Pacific Overseas Forwarding Inc.. upon such Agent for payment constitute a waiver or estoppels of Pacific Overseas Forwarding Inc..'s right to enforce our undertaking herein.
6. Advance payment may be required dependent upon credit limit or if other arrangements have been made. Normal company policy is $1000.00 outlay per shipment. Amounts causing the credit limit granted by Pacific Overseas Forwarding Inc.. to be exceeded are payable in advance. We understand that Pacific Overseas Forwarding Inc.. may charge a disbursement fee for any outlays that are incurred on our behalf.
7. We may be held responsible for carrying costs due to neglecting the agreed upon payment terms or due to the amount borrowed on the client's behalf.
8. All accounts are payable upon receipt of invoice or as stated in the credit approval. Late payments shall be assessed interest at the rate of 24% per annum, 1.808% compounded monthly or the highest rate allowed by law. The failure of Pacific Overseas Forwarding Inc.. to charge interest on our account or pursue any other remedy available to it shall not constitute a waiver of Pacific Overseas Forwarding Inc.. In the event that credit terms are granted, we will make payment by way of cash, cheque, bank draft or electronic transfer.
9. We agree that Pacific Overseas Forwarding Inc.. may set off against monies due from us or any affiliate monies owed by Pacific Overseas Forwarding Inc.. to us or any affiliate. We agree that we will not set off against any amounts due to Pacific Overseas Forwarding Inc.. or claimed to be to due to us from Pacific Overseas Forwarding Inc..
10. We agree to pay all costs of collection (lawyer fees, court costs, collection agency fees, etc.) in the event third party action is required to collect an outstanding amount. We agree to pay a fee of $30 for any cheque returned NSF to Pacific Overseas Forwarding Inc.. Any cash deposits held for security reasons or to offset disbursement fees, will be held in a non-interest bearing account.
11. All disputes must be submitted to Pacific Overseas Forwarding Inc.. no later than 30 days following the date of billing. Any billing not challenged by us within 60 days will be deemed accepted and it is agreed the billing shall not be subject to dispute by us.
12. All business transacted is subject to the current Standard Trading Conditions of the Canadian Society of Customs Brokers (CSCB) for customs services and the Canadian International Freight Forwarders Association Inc. (CIFFA) for freight forwarding services; (copies available upon request or by accessing www.pacificoverseas.ca).
13. If any one or more of the above terms becomes invalid or illegal in any respect, such term or terms shall be waived and the validity, legality and enforceability of the remaining terms shall not be affected.
14. By acting on this Agreement, we understand and agree to be bound by its terms and conditions. Further, we agree that it is the complete and exclusive statement of the Agreement between Pacific Overseas Forwarding Inc.. and us which supersedes all proposals or prior agreements, oral or written and all other communications between the parties relating to the subject matter of this Agreement. We also agree that no amendment can be made to this Agreement unless it is in writing signed by Pacific Overseas Forwarding Inc..