Merchants Trade Bank (MTB) and the applicant (member) hereby agree as follows: member agrees to sell designated products or services to other MTB members for 100% MTB credit (defined as a receivable due in goods and/or services) in an amount not less than that purchased from other members for 100% MTB credit at prevailing and/or advertised prices. Member agrees to pay a monthly account maintenance fee of $10.00 in cash and $10.00 in MTB credit. Member agrees to pay monthly a cash fee of the gross purchases made from other MTB members within 30 days after billing. Member agrees to pay an application fee of $499 upon acceptance of application for membership by MTB. This agreement becomes effective when approved by MTB branch management. If this application is accepted, the member business and the Principal named agree to assume joint and several responsibility for all purchases and fees outlined in this application and to honor all the terms and conditions of MTB membership. Member certifies that the information provided on this form is true, complete and correct. |
