Credit Application

CorporationPartnershipSole Proprietorship
refined fuels
Annual Percentage Rate for Purchases 18%
Grace Period for Repayment of Balances for Purchases No finance charge will be imposed if you pay within your terms.
Method for Computing the Balance for Purchases We figure the finance charge on your account by applying the periodic rate to the average daily balance of your account. We get the "adjusted balance" by taking the balance at the beginning of the month and subtracting unpaid finance charges and payment and credits received during the month (except that we do not subtract credits attributable to purchases charged to your account during the month).
Minimum Finance Charge There is a minimum finance charge of 50¢ for any month in which a finance charge is imposed.

Credit Policy

The customer is referred to as "you" and Reif Oil Company is referred to as "we". The text in the above box is an integral part of our credit policy.

  • You may buy goods and services from us on credit only up to the credit limit that we have established for you, except that grain purchases cannot be made on credit. We may stop further credit purchases if you are delinquent in paying your credit balance. We may impose conditions on credit extensions, such as personal guarantees and collateral requirements.
  • We will send you a statement showing the balance that you owe as of the end of each month. You agree to pay the entire balance that you owe by the end of the month, and in such a case no finance charge will be imposed for the month. Payments will be applied first to finance charges. If you have not paid the entire balance that you owe within this period, then we may place you on a cash only basis.
  • Under Iowa law, all general partners of a partnership are liable for the debts of the partnership.
  • By making a credit purchase after receiving a copy of this credit policy, you agree to be bound by the terms of this credit policy.

In consideration of the above named company selling merchandise and services to the under-signed, the undersigned agrees to the following credit terms. The disclosures and information are made and given in accordance with the requirements of the Federal Truth-in-Lending Act.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applications on the basis of sex or marital status. The federal agency that administers compliance with this law and its applicability to Reif Oil Company is the Federal Trade Commission, Washington, D.C. 20580.