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Euler Hermes is one of the largest private credit insurers and is part of the Euler Hermes Group. Euler Hermes insure accounts receivables and provide coverage against commercial and political risk in more than 160 countries. Our coverage guarantees that your supplier(s) will be paid for goods shipped and services rendered. This guarantee allows our clients to increase credit lines, manage credit risk, supplement existing credit management resources and secure receivables used as collateral for loans.
In order to accurately assess creditworthiness and expedite the decision-making process for our clients, Euler Hermes gathers financial and other information on their client's customer(s) from all available sources including the customer(s) directly. We are aggregating the credit exposure of many companies and as a result it is generally necessary for Euler Hermes to request additional information such as bank reference and/ or financial statements. In many cases, by establishing relationships with our clients' customers, Euler Hermes has been able to establish significantly higher credit lines, which has allowed our clients to sell more to their customers without additional credit risk.
Please Note: That all financial information entered here is forwarded to Euler Hermes. None of this information is retained on the Forest Commodities Board Inc system or data banks.
Upon a credit review by Euler Hermes , a confidential global credit limit will be awarded to the applicant. Euler Hermes will not at any point divulge the extent of the global credit limit to either the "participating sawmills" , the "Forest Commodities Board Inc. “ or "the applicant".
Upon Notification by Euler Hermes to the Forest Commodities Board Inc. that this credit limit is in place. The Forest Commodities Board Inc. will issue the required encrypted passwords to the applicant in order to enter the Forest Commodities electronic exchange. At this point the applicant will have the ability to purchase product from any of the participating sawmills.
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It is hereby certified that I am duly authorized to complete this application for the purpose of inducing Euler Hermes Canada to extend Credit Insurance on behalf of "The Participating Sawmills" (see mill list under the inquiry section) operating on "The Forest Commodities Board" . It is understood and agreed that the applicant(s) will pay all invoices as they become due and payable pursuant to the terms of sale. Terms of payment are:Amount of payment will be deducted by .85% if payment is made prior to 11 days from the date of invoice on which the participating sawmills issue invoices in respect to goods purchased. Discounts are not allowed if payment is postmarked beyond the 10 day discount period.
A service charge will apply on the amount of any overdue account from the date such account becomes overdue. The current rate is 2% per month (26.8% per annum) subject to change on notification from the participating sawmills, the taking of a Judgment or Judgments for payment of the account or performance of the obligations herein shall not operate as a merger or affect the right to service charges at the rate and times aforesaid on any monies owing and that such judgments shall provide that interest thereon shall be computed at the same rate and in the same manner as herein provided until the said Judgment shall have been fully paid and satisfied. It is further agreed, that if credit is extended by the participating sawmills. It becomes necessary for your account to be placed in the hands of an attorney or collection agency, the purchaser will pay any and all costs of collection, including but not limited to attorney fees & court costs necessary to collect the past due balance.
Every transaction indicated or referred to in any notice. Statement confirmation and even statement of account shall be deemed and treated as authorized and correct and as ratified and confirmed by any customer unless participating sawmills receives from the undersigned written notice to the contrary within thirty days upon receipt of such notice, statement, confirmation of other communication forwarded by participating sawmill to the customer. I hereby authorize the firm to whom this application is submitted to obtain such credit reports or other information as may be deemed necessary in connection with the establishment and maintenance of credit account or for any other direct business requirement. This consent is pursuant to any credit reporting legislation that may be applicable to the applicant(s). This contract is deemed m be made in Edmonton, Alberta, Canada and any breach of this contract may at the election of participating sawmill be litigated in any competent Court in the City of Edmonton, Alberta, Canada.
FCB and the USER, FOR CONSIDERATION ACKNOWLEDGED TO BE SUFFICIENT, AGREE AS FOLLOWS:
Through a program provided by FCB, FCB provides User with access to the Board which is an electronic forest commodities trading system that allows the User to purchase product from third parties, a communication forum, download areas and product information (collectively "Services"). The Services, including any updates, enhancements, new features, and/or the addition of any new properties, are subject to the TOU.
Your use of the System is governed by the policies terms and conditions contained in the Agreement Your use of the System indicates your acceptance of the terms of this Agreement. The services that FCB provides to User is subject to the following Terms of Use ("TOU"). FCB reserves the right to update the TOU at any time without notice to User. If the TOU changes the FCB will notify the User within 30 days of the change.
FCB shall have the right at any time to change or modify the terms and conditions applicable to User's use of the Board or any part thereof, or to impose new conditions. Such changes, modifications, additions or deletions shall be effective immediately upon notice thereof, which may be given by means including, but not limited to, posting on, or by electronic or conventional mail, or by any other means by which User obtains notice thereof. Any use of by User after such notice shall be deemed to constitute acceptance by User of such changes, modifications or additions.
User shall be responsible for obtaining and maintaining all computer hardware, software and other equipment needed for access to and use of the Board and all charges related thereto.
The Services may contain email services, bulletin board services, news groups, forums, calendars or other message or communication facilities designed to enable User to communicate with others (each a "Communication Service" and collectively "Communication Services"). User agrees to use the Communication Services only to post, send and receive messages and material that are proper and, when applicable, related to the particular Communication Service. By way of example, and not as a limitation, User agrees that when using the Communication Services, User will not:
FCB has no obligation to monitor the Communication Services. However, FCB reserves the right to review materials posted to the Communication Services and to remove any materials in its sole discretion. FCB reserves the right to terminate User’s access to any or all of the Communication Services at any time, without notice, for any reason whatsoever. FCB reserves the right at all times to disclose any information as it deems necessary to satisfy any applicable law, regulation, legal process or governmental request, or to edit, refuse to post or to remove any information or materials, in whole or in part, in FCB's sole discretion. Materials uploaded to the Communication Services may be subject to posted limitations on usage, reproduction and/or dissemination; User is responsible for adhering to such limitations if User downloads the materials. FCB does not control or endorse the content, messages or information found in any Communication Services and, therefore, FCB specifically disclaims any liability with regard to the Communication Services and any actions resulting from User’s participation in any Communication Services.
User, to register with FCB, has completed the registration process and credit application by providing FCB with current, complete and accurate information as prompted by the applicable registration form. User will choose a password and be provided with a user name. User is entirely responsible for maintaining the confidentiality of User’s password and username. Furthermore, User is entirely responsible for any and all activities that occur under User’s account. User agrees to notify FCB immediately of any unauthorized use of User’s account or any other breach of security. FCB will not be liable for any loss that User may incur as a result of someone else using User’s password or account, either with or without User’s knowledge. However, User could be held liable for losses incurred by FCB or another party due to someone else using User’s account or password. User may not use anyone else's account at any time, without the permission of the account holder.
Any software that is made available to the User (the “Software”) is the copyrighted work of FCB and/or its suppliers. Use of the Software is governed by the terms of this Agreement. The User, by installing any Software that is provided by FCB, agrees to the terms of this Agreement by completing the installation. The Software is made available for download solely for use by the User. Any reproduction or redistribution of the Software not in accordance with the License Agreement is expressly prohibited by law, and may result in severe civil and criminal penalties. Violators will be prosecuted to the maximum extent possible. WITHOUT LIMITING THE FOREGOING, COPYING OR REPRODUCTION OF THE SOFTWARE TO ANY OTHER SERVER OR LOCATION FOR FURTHER REPRODUCTION OR REDISTRIBUTION IS EXPRESSLY PROHIBITED, UNLESS SUCH REPRODUCTION OR REDISTRIBUTION IS EXPRESSLY PERMITTED BY THE LICENSE AGREEMENT ACCOMPANYING SUCH SOFTWARE. THE SOFTWARE IS WARRANTED, IF AT ALL, ONLY ACCORDING TO THE TERMS OF THE LICENSE AGREEMENT. EXCEPT AS WARRANTED IN THE LICENSE AGREEMENT, FCB HEREBY DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO THE SOFTWARE, INCLUDING ALL WARRANTIES AND CONDITIONS OF MERCHANTABILITY, WHETHER EXPRESS, IMPLIED OR STATUTORY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. FOR YOUR CONVENIENCE, FCB MAY MAKE AVAILABLE AS PART OF THE SERVICES OR IN ITS SOFTWARE PRODUCTS, TOOLS AND UTILITIES FOR USE AND/OR DOWNLOAD. FCB DOES NOT MAKE ANY ASSURANCES WITH REGARD TO THE ACCURACY OF THE RESULTS OR OUTPUT THAT DERIVES FROM SUCH USE OF ANY SUCH TOOLS AND UTILITIES. PLEASE RESPECT THE INTELLECTUAL PROPERTY RIGHTS OF OTHERS WHEN USING THE TOOLS AND UTILITIES MADE AVAILABLE ON THE SERVICES.
IN NO EVENT SHALL FCB BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER RESULTING FROM LOSS OF USE, DATA OR PROFITS, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER TORTIOUS ACTION, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF SOFTWARE, DOCUMENTS, PROVISION OF OR FAILURE TO PROVIDE SERVICES, USE OF THE BOARD OR INFORMATION AVAILABLE FROM THE SERVICES.
FCB OR ANY OF ITS EMPLOYEES DO NOT ACCEPT OR CONSIDER UNSOLICITED IDEAS, INCLUDING IDEAS FOR NEW ADVERTISING CAMPAIGNS, NEW PROMOTIONS, NEW PRODUCTS OR TECHNOLOGIES, PROCESSES, MATERIALS, MARKETING PLANS OR NEW PRODUCT NAMES. PLEASE DO NOT SEND ANY ORIGINAL CREATIVE ARTWORK, SAMPLES, DEMOS, OR OTHER WORKS. THE SOLE PURPOSE OF THIS POLICY IS TO AVOID POTENTIAL MISUNDERSTANDINGS OR DISPUTES WHEN FCB’s PRODUCTS OR MARKETING STRATEGIES MIGHT SEEM SIMILAR TO IDEAS SUBMITTED TO FCB SO, PLEASE DO NOT SEND YOUR UNSOLICITED IDEAS TO FCB OR ANYONE AT FCB IF, DESPITE OUR REQUEST THAT YOU NOT SEND US YOUR IDEAS AND MATERIALS, YOU STILL SEND THEM, PLEASE UNDERSTAND THAT FCB MAKES NO ASSURANCES THAT YOUR IDEAS AND MATERIALS WILL BE TREATED AS CONFIDENTIAL OR PROPRIETARY.
FCB shall have the right, but not the obligation, to monitor the content of any forums, to determine compliance with this Agreement and any operating rules established by FCB and to satisfy any law, regulation or authorized government request. FCB shall have the right in its sole discretion to edit, refuse to post or remove any material submitted to or posted on. Without limiting the foregoing, FCB shall have the right to remove any material that FCB, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable.
User agrees to defend, indemnify and hold harmless FCB, its affiliates and their respective directors, officers, employees and agents from and against all claims and expenses, including attorneys' fees, arising out of the use by the User of the Board.
Either FCB or User may terminate this Agreement at any time without notice by the User and 24 hours’ notice by FCB. Without limiting the foregoing, FCB shall have the right to immediately terminate User's Account in the event of any conduct by User which FCB, in its sole discretion, considers to be unacceptable, or in the event of any breach by User of this Agreement.
This Agreement and any operating rules for the Board established by FCB constitute the entire agreement of the parties with respect to the subject matter hereof, and supersede all previous written or oral agreements between the parties with respect to such subject matter.
FCB AND its logos are trademarks of FCB, All rights reserved. All other trademarks appearing on the Board are the property of their respective owners.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners. The example companies, organizations, products, domain names, email addresses, logos, people and events depicted herein are fictitious. No association with any real company, organization, product, domain name, email address, logo, person, or event is intended or should be inferred. Any rights not expressly granted herein are reserved.
The laws of the Province of Alberta and the applicable laws of Canada will govern these terms and conditions and all related transactions. The parties agree to the exclusive jurisdiction of the courts of the Province of Alberta.
No waiver by either party of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. The section headings used herein are for convenience only and shall not be given any legal import. The User agrees that it will not participate in any process which involves manipulation of the prices for the products it sells.
The User shall keep in confidence and shall not use or disclose to any third parties information provided herein or any non-public information disclosed as a result of the Services provided by FCB. This provision shall survive termination of your participation in the Services.
Please NoteAs part of the due diligence performed by Euler Hermes, buyers may be required to provide additional financial information. This confidential information exchange will only occur between Euler Hermes and the buyer. Upon credit clearance by Euler Hermes and notification of such to the Forest Commodities Board Inc., encrypted passwords and user names will be forwarded to the applicants and their designated users within their corporation.
Current Financial Statements Fax to: Euler Hermes Canada Attention: Brad Zingel Fax Number: 1-587-360-0359 Scan Statements and Email to: Brad.Zingel@eulerhermes.com