Credit Policy

RAY-CARROLL COUNTY GRAIN GROWERS, INC.
CREDIT POLICY


Approved by the Board of Directors: June 28, 1999
Effective Date: September 1, 1999


Payment made in full on or before the 20th of the month following the date of the first statement for the items purchased will be allowed a discount according to the following schedule:
FEED AND MERCHANDISE. . . . . . . . . . 3%
FERTILIZER . . . . . . . . . . . . . . . . . . . . . . . . 5%
CHEMICALS  . . . . . . . . . . . . . . . . . . . . . . . 3%
FUELS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3%
PROPANE . . . . . . . . . . . . . . . . . . . . . . . . . 5%

No cash discount on taxes, services, grain, seed, or self-service fuels.

If full payment is not made on or before the end of the month following date of the first statement for items purchased, a finance charge will be charged on the unpaid balance. The effective rate of 1.5% per month (18% per annum) will apply. Minimum finance charge of $.70.

Payment in full must be received not later than 30 days of the date of the statement covering items purchased. If full payment is not received, the purchaser will be required to pay cash for additional purchases until full payment is made.

Customers who continually violate the above policy will be required to pay cash for all of their entire purchases.

If it becomes necessary to take legal action for the collection of an account, reasonable attorney fees and/or court fees will be added to the balance due.

Credit Policy (PDF Version)

 
 
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