By executing this agreement, I agree that I have read this application and the terms and conditions associated herewith and that everything stated herein is true and correct to the best of my knowledge. I authorize TRANSURIT to verify any of the information contained herein and to report such information in accordance with the Fair Credit Reporting Act (F.C.R.A.), or any other applicable laws and/or regulations. I understand that the acceptance of merchant status and use of TRANSURIT service will be subject to the terms of this application and merchant agreement and any other agreements provided by any service providers of TRANSURIT. I understand that upon first usage of services that I agree to all terms and conditions of TRANSURIT and its service providers and TRANSURIT may terminate my account at any time. In order to assure continuity of the transaction, TRANSURIT may purchase the item for immediate resale and shall take flash title and possession of the item being sold and shall become and remain the title holder from acceptance of the transaction until such item is signed and delivered to the consigned or purchaser. I also agree to be responsible for all charges incurred according to such terms and in connection with the use of TRANSURIT services. It is understood that no claim for loss can be made to TRANSURIT, its suppliers, insurance companies, carriers, if the account is more than 30 days past Due. All claims for loss are null and void. Your account must be current within the time frame allowed. Furthermore you indemnify and hold harmless TRANSURIT as a result of non payment of your bill of any claim whatsoever. I certify that I am at least eighteen years of age and that I am authorized to enter into this agreement on behalf of the prospective member company. I consent to and authorize TRANSURIT and its affiliates and/or service providers to monitor and/or record my telephone conversations with any of their representatives to better ensure quality service. Acceptance of merchant status depends on certain criteria that may or may not include payment history to others, legal action taken by others and/or law enforcement actions. I hereby grant permission to TRANSURIT to disclose information relating to my account to its affiliates and/or service providers and understand that it is not TRANSURIT policy to release information except for marketing, administration and legal purposes. TRANSURIT will not release any information concerning my account except as provided for by law or as provided for in this agreement. I hereby authorize TRANSURIT to act on my behalf and hereby appoint them as my representative/power of attorney for the purpose of setting and maintaining a business relationship with its/my service providers. I shall also agree to hold harmless TRANSURIT and shall indemnify them in any legal action arising out of third party relationships therewith. As a merchant I agree to indemnify and hold harmless TRANSURIT for any and all 3rd party determinations or actions. I understand that TRANSURIT or its service providers must receive payment for services rendered in connection with my membership in TRANSURIT within 15 days of billing date, unless other such arrangements are made in writing. In such case if payment is not received, I authorize TRANSURIT to debit my credit card or bank account by electronic means or paper draft and I understand that I will be notified if such action is taken. I understand that TRANSURIT may terminate my merchant status at any time for any reason whatsoever. If my merchant status is terminated, I agree to immediately stop using merchant services and will promptly return all materials related to TRANSURIT. If at any time during or after the course of this agreement a dispute arises between TRANSURIT, myself and/or my company, I agree to resolve the matter through arbitration in accordance with the rules of the American Arbitration Association, upon written request by either party. In the even legal action is commenced by either party, the venue shall be decided by TRANSURIT and the prevailing party shall be entitled to an award of reasonable attorney fees and costs.