Agreement Date: [Input during the application on the Downstream Marketplace platform]
​Effective Date: [Input during the application on the Downstream Marketplace platform]
​Issued by: Downstream Systems, Inc.
​For: [Buyer Company Name, input during the application on the Downstream Marketplace platform]
​Address: [Business Address, input during the application on the Downstream Marketplace platform]
​City, State, ZIP Code: [Input during the application on the Downstream Marketplace platform]

This Line of Credit Agreement ("Agreement") is entered into by and between Downstream Systems, Inc., a [State of Incorporation] corporation ("Seller"), and the user completing this application on behalf of [Buyer Company Name], a [Type of Business Entity, input during the application on the Downstream Marketplace platform] ("Buyer"). This Agreement sets forth the terms and conditions for the Buyer’s approved line of credit, with Downstream Systems, Inc. determining payment terms as Due on Receipt, Net 14, or Net 30, based on the Buyer’s creditworthiness.

Downstream Systems, Inc. will determine the payment terms for the Buyer as Due on Receipt, Net 14, or Net 30 based on the outcome of the credit evaluation. The Buyer agrees to pay all invoices issued by Downstream Systems, Inc. within the timeframe specified on each invoice. Payments shall be made in U.S. dollars via an approved payment method. Downstream has full authority to update these payment terms at any time for any reason.

The Buyer will receive consolidated billing and invoicing for all purchases made through the Downstream Marketplace. Each invoice will provide a detailed breakdown of all purchases, the total amount due, and the applicable payment terms.

If the Buyer fails to make a payment by the due date, Downstream Systems, Inc. reserves the right to charge interest at a rate of 1.5% per month, compounded daily, on the outstanding amount until it is paid in full.

Downstream Systems, Inc. may suspend or terminate services or deliveries until outstanding payments are made. The Buyer shall be liable for any costs incurred by Downstream Systems, Inc. due to the suspension or termination of services for late payment.

If any invoice remains unpaid beyond the specified payment term, Downstream Systems, Inc. may, at its discretion, forward the account to a collections agency or pursue legal action to recover the outstanding amount. The Buyer shall be responsible for all reasonable costs and expenses incurred in the collection process.

By accepting this Agreement, the Buyer authorizes Downstream Systems, Inc. to obtain a business credit report from a Credit Reporting Agency of Downstream’s choice, such as Experian, to assess the Buyer’s creditworthiness.

The Buyer authorizes all users associated with their account on the Downstream Marketplace to utilize the approved line of credit, provided that all purchases comply with the "purchasing policies" set by the Buyer’s Company administrators on the Downstream platform.

By accepting this Agreement, the user confirms that they are duly authorized by the Buyer to enter into this Agreement on the Buyer’s behalf and that all information provided during the application process is true and accurate to the best of their knowledge.

This Agreement shall be governed by and construed in accordance with the laws of California. Any disputes arising under this Agreement shall be subject to the exclusive jurisdiction of the courts of California.

By selecting the "I accept the terms" checkbox during the application process, the user acknowledges that they have read, understood, and agreed to the terms and conditions outlined in this Line of Credit Agreement, including the terms regarding payment, credit evaluation, and authorization of company users.

This Agreement is effective upon the user’s acceptance during the application process on the Downstream Marketplace platform.