CREDIT TERMS AND CONDITIONS, the parties agree to as follows:
1. Applicant authorizes SPI or its agents to conduct a credit investigation on a continuing basis to substantiate and maintain an operating line of trade credit.
2. Applicant shall make payment within 30 days from invoice date. Past due accounts will be assessed a finance charge of 1.5% per month compounded daily (19.72% per annum) after a reasonable grace period.
3. In the event that any account is not paid when due and legal action is commenced, SPI will be entitled to reasonable collection and court costs, including interest, attorney fees and any cost of any appeal.
4. As an arranger of freight services, SPI’s aggregate liability on any load is limited to the total service fee charged for the shipment. SPI will act on the client’s behalf with the carrier on any freight claim. The service carrier will be liable for all losses they are at fault for. Neither SPI nor the carrier are responsible or liable for shipper error or packaging.
5. SPI reserves the right to amend or revoke the operating line of trade credit at any time at its sole discretion.
6. This Agreement shall be governed by the laws of the Province of British Columbia and the parties hereby attorn to the jurisdiction of the courts of the Province of British Columbia in the event of any dispute if the Applicant is domiciled in Canada.
7. This Agreement shall be governed by the laws of the State of Washington and the parties hereby attorn to the jurisdiction of the State of Washington in the event of any dispute if the Applicant is domiciled in the United States of America.