Credit Line Desired $____________     Credit Application

Business Information

Legal Name of Business_______________________________Telephone (    )_______________________

Trade Name_________________________________________Fax (    )___________________________

Civic Address_______________________________________Email_______________________________

Mailing Address_____________________________________City_________________Province________

Postal Code_______________How long at this address__________Location Owned/Rented____________

Mailing address (if different from above)

______________________________City __________________Province_______Postal Code__________

Type of business:___________________________Proprietorship____Partnership_____Corporation_____

If the company is a subsidiary please provide name of parent company:________________________________________________________________________

Ownership Details

Principal Owner/Shareholder____________________________Home Address_______________________

Title______________________________SIN #_______________________________________________

Previous employment if in business less than two years__________________________________________

Other Officers________________________Home Address______________________Title_____________

Other Officers________________________Home Address______________________Title_____________

Name of contact person responsible for this account____________________________Title_____________

Are any of the owners/officers now or in the past 7 years in bankruptcy proceedings? If so, please provide details_________________________________________________________________________________

Is there any litigation against company at this date? If yes, please provide details_____________________ ______________________________________________________________________________________

Credit Information

Name of bank and branch_____________________Are assets pledged? ____Please complete release form

Bank Address_______________________________Contact_____________________________________

Bank Phone #_______________________________Bank Account #______________________________

Major Trade References

Name of Supplier______________________________Address___________________________________

Phone_________________________________Fax______________________________________

Name of Supplier______________________________Address___________________________________

Phone________________________________Fax______________________________________

Name of supplier_______________________________Address__________________________________

Phone________________________________Fax______________________________________

Terms and Conditions in Credit Agreement

This is an Application and Agreement for credit and shall apply to any and all credit extended by Rainbow Net & Rigging Ltd.  The credit applicant understands and agrees to the following terms and conditions of sale:

1. Terms of sale are net 30 days. Agents or representatives of Rainbow Net & Rigging Ltd are not authorized to change or adjust credit terms without written authorization of the credit manager.

2. All Claims against invoices must be made within 30 days after receipt of invoice.

3. Accounts overdue are subject to an interest charge from date of maturity at the rate of 2% per month (24 % per annum) as shown on invoices.

4. Goods may not be returned without prior authorization of Rainbow Net & Rigging Ltd.

5. Goods/merchandise authorized for return will be subject to a minimum 20 % restocking charge.

6. NSF cheques will be subject to a $30.00 charge.

7. Failure to comply with these terms and conditions may result in cancellation of credit privileges without notice. In the event of any default, Rainbow Net & Rigging Ltd may close the account and/or (b) accelerate payment of the full balance.

8. Applicant agrees to bear all costs incurred in collecting any unpaid amounts including but not limited to collection suit fees, legal fees and court costs.

9. The information given in this Application and Agreement is warranted to be true and correct and given for the purpose of obtaining credit.

10. The applicant consents to the obtaining of credit and/or personal information as may be required in connection with the credit line hereby applied for or any renewal or extension thereof and to the disclosure of any trade information concerning the applicant to any credit reporting agency or to any person with whom the applicant has or purposes to have financial relations.

11. Upon determination that customer’s creditworthiness has changes adversely or does not satisfy current credit standards, Rainbow Net & Rigging Ltd may close or lower the credit limit of the account.