DISCLOSURE NOTICE & CREDIT POLICY
According to the Federal Truth in Lending Act, all businesses are required to disclose credit terms to customers. The extension of credit costs money. That is why we must impose a finance charge on past due balances. Credit is a privilege, not a right and is provided for convenience purposes only. This Disclosure Notice is being provided to you so that Valley Central Coop will be in compliance with the Truth and Lending Act.

• The closing date of the billing cycle will be the last day of the month and accounts are due and payable in full on the 20^th of each following month.
• If the amount for which credit is extended is not received before the closing date, a finance charge will be assessed on the past due balance. The past due balance is computed by applying Period Rate of 1.5% per month which is equivalent to an annual percentage of 18% with a $5.00 minimum charge.
• Valley Central Coop is to allocate customer’s payment first to any unpaid finance charges and then to the unpaid principal.
• All accounts that are not paid in full when due will be considered past due and may be placed on a cash basis.
• Any account 60 days past due will be subject to cash on delivery, or under manager discretion may have credit discontinued until receive payment on account.
• If your credit has been discontinued for any reason, the old balance must be paid in full before credit will be considered again.
• Valley Central Coop reserves the right to refuse or limit credit to anyone at any time, based on the ability to pay, financial condition, and previous experiences as we see fit.
• ValleyCentral Coop, pursuant to its Articles of Incorporation and By Laws, has the right to seize the patron’s capital stock or equities within the company for any debt due by the patron of which is considered uncollectible.
• I agree that in the event that I have an outstanding bill or money is due and owing to the Valley Central Coop, in the event that the Elevator come into any grain or other product of mine that the Elevator may use and apply said funds towards the amount that I owe to the Elevator. The Elevator will inform me of the same but my permission to seize said money is not necessary and I would waive all of my right to said money or funds.