Confidential Application for Credit

B. Terms of Credit

I, (We) the undersigned hereby certify that the information and references provided in this application are true in every respect and further understand and agree to the following terms and conditions of sale:

1. Terms of sale are cash. The extension of credit is conditional upon acceptance by Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts as notified in writing. Once credit is granted the terms are 15th, net 30 days.
2. Finance charges are assessable on past due amounts as determined by the approved terms and conditions of sale. Presently the interest rate is 1.50 % per month compounded (19.56% annually) and is payable without dispute.
3. Any dispute, claim or return of goods from the purchase of products from Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts must be in writing within 30 days of the date of invoice and must be accompanied by the invoice causing the claim.
4. If there is any change in the status of the Customer set forth in part A (ie change of business name or ownership) the Customer shall immediately notify Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts. To the extent that the business is still being carried on by one or more of the same persons under a new name or legal status, the” new business” is jointly liable for sums already owed by the Customer, as well as sums owed on account of delivery of goods or services after the change of name or status. 5. I/We the undersigned, certify that all information given on this application is true, complete, and correct.
6. I, the undersigned authorize and consent to the receipt and exchange of any and all credit information Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts, and I/we guarantee that all balances due will be paid in full. The collection of information may include the sharing and exchange of credit information concerning the Applicant or Shareholders with any credit reporting agency, credit bureau or any person or corporation with whom the Customer (and in the case of a corporation, its shareholder(s)) has or proposes to have financial relations.
7. If, during the course of business, the applicant’s account becomes past due and, in Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts own judgment, comes to represent an unacceptable risk, Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts reserves the right to terminate the supply of product and to place the account in the hands of a Third Party for collection. At this point, the applicant agrees to pay, in addition to the amounts due:

a. All reasonable legal fees incurred by Newmarket Auto Parts Group Inc. O/A Barrie Auto Parts.
b. All court costs relating to the collection action.
c. Any additional costs related to the collection of the account.
d. $40.00 for each and every protested (NSF) cheque.