Credit Terms & Conditions

The Credit Applicant (“Applicant”) applies for credit terms with Impact Rentals LLC (“Creditor”).
In consideration for the extension of credit, Applicant and any Guarantor(s) agree that all credit extended by
Creditor is subject to the following terms and conditions. These terms are automatically incorporated into all
current and future contracts, rental agreements, and transactions between Creditor and Applicant, whether verbal
or written.

1. Extension of Credit

Extension of credit is at the sole discretion of Creditor. Creditor may, without cause, terminate this Agreement,
suspend issuance of credit, or decline to extend further credit at any time. Creditor may establish a credit limit
for Applicant and may increase, decrease, or withdraw that limit at any time.

2. Payment Terms

Payment terms are net 30 days from the invoice date unless a shorter period is stated on the invoice.
A finance charge of 1.5% per month will accrue from the invoice due date on any unpaid balance.

Payment to Creditor is not contingent upon Applicant receiving payment from its customer or any other source.
All payments are due at Creditor’s office listed on the invoice, regardless of where equipment was delivered, picked up,
or used.

If Applicant has multiple accounts or sub-accounts, Applicant must designate in writing which account a payment applies to.
Payments received without designation will be applied first to unpaid accrued interest, then to the oldest unpaid invoice.

If payment is not made when due, Applicant agrees to pay all costs of collection, including reasonable attorneys’ fees and
court costs, if the account is referred for collection or legal enforcement.

3. Purchase Orders

Purchase orders issued by Applicant are for identification purposes only. The terms and conditions in this Agreement and
any rental terms issued by Creditor are the sole governing terms. Creditor is not bound by any terms contained in Applicant
purchase orders.

4. Arbitration

Any claim or dispute arising out of or related to this Agreement, or its breach, shall be resolved by
binding arbitration administered by the American Arbitration Association (AAA) in Atlanta,
Georgia, under the Construction Industry Arbitration Rules then in effect. Arbitration shall be governed by the Federal
Arbitration Act.

Either party may demand arbitration in writing. Any court proceedings shall be stayed pending arbitration. Arbitration shall
be conducted before a single neutral arbitrator knowledgeable in construction industry practices. The arbitrator’s decision
shall be final and may be entered as a judgment in any court of competent jurisdiction.

Arbitration costs, including reasonable attorneys’ and witness fees, shall be awarded to the prevailing party unless otherwise
determined by the arbitrator.

5. Notice to Owner / Preliminary Notice

Creditor may file a Notice to Owner or Preliminary Notice on any project, and Applicant agrees to promptly provide requested
project information.

6. Credit Investigation

Creditor is authorized to investigate Applicant’s creditworthiness and may contact banks, lenders, and other creditors for
credit references.

7. Electronic Copies

A facsimile, email, or PDF copy of this Agreement shall be deemed an original for all purposes.


Personal Guarantee

In consideration of credit being extended to Applicant, each Guarantor personally, jointly, and severally guarantees full and
prompt payment and performance of all obligations of Applicant, whether past, present, or future, under this Agreement and any
related rental agreements.

Guarantor authorizes Creditor to obtain and review personal credit reports in connection with evaluating creditworthiness and may
obtain updated reports periodically.

Any dispute arising from this Personal Guarantee shall be subject to the Arbitration provisions above, which are incorporated here.
Guarantor agrees to pay all reasonable attorneys’ fees, costs, and expenses incurred in enforcing this Guarantee.

Guarantor waives notice of acceptance of this Guarantee, notice of credit extensions, presentment, demand, dishonor, or default.
This is a primary obligation, not secondary, and remains in effect until Creditor receives written notice of revocation. Revocation
applies only to debts incurred after receipt of such notice.


 

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