This Customer Agreement with Security Provisions (also known as Commercial Credit Line Agreement) is between a financial institution or other entity (the “Lender”) and an individual/business who desires to open a commercial line of credit (the “Borrower”). A commercial line of credit allows a Borrower to purchase products, property, or services from third parties with funds obtained from the Lender. In exchange for the funds, the borrower promises to pay back such funds with interest and commission at specified times (as designated by the Agreement or drafts made under the Agreement).

This Agreement also includes security and collateral provisions, which provide the Lender with additional protections should the Borrower fail to pay back the funds in a timely fashion. Such protections include rights to property received or shipped under the line of credit.

This Customer Agreement with Security Provisions (also known as Commercial Line Credit Line Agreement) includes:

• Payment: Sets forth that payments are due, upon demand, at the institution's principal office;
• Commission: Sets forth that in addition to interest or other charges, a commission in a specific percentage will be paid;
• Grant of Security Interest: A security interest is granted in all property which is shipped pursuant to this agreement;
• Sale of Collateral: In the event of default, any collateral will be sold without advertisement or notice;
• Licenses: All necessary import, export or other licenses will be procured;
• Signature: This agreement must be signed by both parties in front of a notary public.

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This attorney-prepared packet contains:

1. General Information
2. Instructions and Checklist
3. Customer Agreement with Security Provisions (also known as Commercial Credit Line Agreement)

State Law Compliance: This form complies with the laws of all states