Open accounts are earned not given.

1. We will not consider an open account until:

• You have established a clean payment record for a period of one year (no returned check, ect.).
• You do not make unjust claims such as shortages to you shipments
• Your raceway have a consistent record of ordering from us on a weekly or bi-weekly basis.
• There is proof of stable ownership. The owners and/or officers will have to submit to a TRW credit check.

2. The terms for an open account are:

• Net 10 days on orders under $100.00
• 5%/10 days net 15 for orders over $100.00 which means that if your check and post mark are within 10 days of the invoice you receive the additional 5% discount. If you do not take the additional discount your check is due by the 15^th day from your invoice date.
• Your check must be dated and postmarked by the due date to be eligible for the discount. No exceptions
• An finance rate of 1.5% (18% annually) will be assessed starting from the 15^th day.
• Any open account that shows a pattern of late payment will be converted to a COD basis
• Any returned check automatically forfeits your open account status and will be converted to a COD cash basis.
• All open accounts will have a credit limit.
• Open account status can not be transferred. Change of ownership automatically forfeits open account status.