Terms and Conditions of this Credit Agreement

1. This credit agreement constitutes the full understanding of Horizon Logistics, LLC or any successor, subsidiary or affilliate (Horizon Logistics) and applicant, and the complete and exclusive statement of the terms of this credit agreement.  This credit agreement shall replace and supersede any agreements between Horizon Logistics and applicant that deal with the same subject matter as referenced herein..
2. Receipts issued by Horizon Logistics for all documents received by Horizon Logistics will be signed by Horizon Logistics or on Horizon Logistics behalf by the Agent Horizon Logistics may designate.
3. Full freight to the port of discharge named on the bill of lading or invoice and all advance charges against the goods shall be considered completely earned and due on receipt of the goods by Horizon Logistics, even though the vessel or goods are damaged or lost or the voyage is frustrated or abandoned. All sums payable by applicant to Horizon Logistics shall be paid in full in United States currency.
4. If applicant engages or utilizes the services of an Ocean Freight Forwarder, Logistics Broker, Customs House Broker or other Agent in connection with the payment of ocean freight and / or other related charges to Horizon Logistics on applicant's behalf, applicant acknowledges and agrees that such party acts as applicant's agent and not as the agent of Horizon Logistics.
5. Applicant unconditionally guarantees to Horizon Logistics payment of all ocean freight and related charges due regardless of whether funds for payment have been advanced by applicant to applicant's Ocean Freight Forwarder, Logistics Broker, Customs House Broker or any other Agent of applicant. Further, applicant remains absolutely responsible and unconditionally liable and guarantees payment if applicant's Ocean Freight Forwarder, Logistics Broker, Customs House Broker or any other of the applicant's Agents fails for any reason to make such payments to Horizon Logistics.
6. Applicant agrees to remit payment on all invoices within credit terms specified in Horizon Logistics tariff(s), service contracts, or in the absence of such rules within thirty (30) days from the vessel sail date or invoice date, whichever occurs earlier.
7. Nothing contained herein shall preclude Horizon Logistics from exercising absolute discretion based on creditworthiness to refuse to extend credit or its right, where credit has been extended, to demand and collect payment of all freight and related charges prior to vessel's arrival at port of discharge.
8. If freight and related charges are not paid when due, Horizon Logistics reserves the right to collect such freight and related charges from the applicant or its agents, and any expenses incurred in collecting such freight and related charges due Horizon Logistics, including, but not limited to collection agency fees, reasonable attorney's fees, and court costs at the mediation, arbitration, trial and appellate levels.
9. The applicant agrees that all shipping documents will indicate the correct address to which freight invoices are to be mailed.
10. Horizon Logistics reserves the right not to forward, deliver or release shipments or payments in its possession until all outstanding freight and related charges on delivered / completed shipments is made to Horizon Logistics.
11. The terms of the applicable Horizon Logistics tariff or service contract are incorporated herein by reference and made a part of this credit agreement. If there is any conflict between the terms of this credit agreement and the terms of Horizon Logistics tariff or service contract, the terms of the tariff or service contract shall prevail over the terms of this credit agreement.
12. This credit agreement shall become effective on the date it is signed by both Horizon Logistics and applicant, and shall remain in full force and effect unless suspended or canceled pursuant to the terms of this agreement.  Suspension or cancellation of this credit agreement shall not terminate or otherwise affect any accrued obligations of one party to the other under this agreement which have arisen prior to such suspension or cancellation.  Notwithstanding any other provision of this agreement, either party may cancel this agreement on thirty calendar days' written notice to the other party; provided, however, that Horizon Logistics, in its sole discretion, may suspend or cancel this agreement and all credit privileges extended hereunder effective immediately for applicant's non-compliance with the terms of this agreement.
13. This credit agreement may not be assigned by applicant without the prior written consent of Horizon Logistics.
14. Horizon Logistics reserves the right, based upon a change in the applicant's credit history / performance, to adjust applicant's credit limit accordingly.
15. Applicant authorizes Horizon Logistics to check the provided references and credit reporting companies pertaining to our credit responsibility, and authorizes said references and credit reporting companies to release appropriate credit information to Horizon Logistics.