By executing this credit application, the above company promises to pay Fantastic Craft Inc. in accordance with terms stated on invoice. All invoices are DUE 30 days from the Date of Invoice. A finance charge of 1.5% per month will be added to all unpaid balances over the specified net period. Overdue accounts and accounts over the approved credit limit will be subject to having orders held until the account has been cleared. Net 30 accounts limit will be subject to a 5.5% surcharge. If collection procedures are necessary, the customer upon default will pay all cost of collection including attorney's fee and collections. For credit claims, replacements and credits must be reported to our Customer Service department within 7 days of receipt of goods. All orders will be shipped prepaid until credit has been approved. Notification will be sent upon credit approval.