Terms and Conditions of this Credit Agreement

1. There are two methods to validly sign this credit agreement. Applicant may tender an original signed copy, including a facsimile thereof, executed by a person with authority to bind the entity which is applying with Horizon Lines for credit. Or, you may follow the electronic signature options contained in this credit agreement. To sign this agreement electronically, click on the "Electronic Signature" button on the previous screen. You will be taken to a screen explaining the electronic signature process. Please note that you must have authority to bind the entity seeking to electronically apply for credit as further described on the Electronic Signature screen.
   This credit agreement shall become effective on the date it is signed by both Horizon Lines and applicant, and shall remain in full force and effect unless suspended or canceled pursuant to the terms of this agreement. Suspension or cancellation of this credit agreement shall not terminate or otherwise affect any accrued obligations of one party to the other under this agreement which have arisen prior to such suspension or cancellation. Notwithstanding any other provision of this agreement, either party may cancel this agreement on thirty calendar days' written notice to the other party; provided however that Horizon Lines, in its sole discretion, may suspend or cancel this agreement and all credit privileges extended hereunder effective immediately for applicant's non compliance with the terms of this agreement.
2. This credit agreement constitutes the full understanding of Horizon Lines, LLC. or any successor, subsidiary or affiliate ("Horizon Lines") and applicant, and the complete and exclusive statement of the terms of this credit agreement. This credit agreement shall replace and supersede any agreements between Horizon Lines and applicant that deal with the same subject matter as referenced herein.
3. Receipts issued by Horizon Lines for all documents received by Horizon Lines will be signed by Horizon Lines or on Horizon Lines behalf by the Agent Horizon Lines may designate.
4. Full freight to the port of discharge named on the bill of lading or invoice and all advance charges against the goods shall be considered completely earned and due on receipt of the goods by Horizon Lines, even though the vessel or goods are damaged or lost or the voyage is frustrated or abandoned. All sums payable by applicant to Horizon Lines shall be paid in full in United States currency.
5. If applicant engages or utilizes the services of an Ocean Freight Forwarder, Logistics Broker, Customs House Broker or other Agent in connection with the payment of ocean freight and / or other related charges to Horizon Lines on applicant's behalf, applicant acknowledges and agrees that such party acts as applicant's agent and not as the agent of Horizon Lines.
6. Applicant unconditionally guarantees to Horizon Lines payment of all ocean freight and related charges due regardless of whether funds for payment have been advanced by applicant to applicant's Ocean Freight Forwarder, Logistics Broker, Customs House Broker or any other Agent of applicant. Further, applicant remains absolutely responsible and unconditionally liable and guarantees payment if applicant's Ocean Freight Forwarder, Logistics Broker, Customs House Broker or any other of the applicant's Agents fails for any reason to make such payments to Horizon Lines.
7. Applicant agrees to remit payment on all invoices within credit terms specified in Horizon Lines tariff(s), service contracts, or in the absence of such rules within thirty (30) days from the vessel sail date or invoice date, whichever occurs earlier.
8. Nothing contained herein shall preclude Horizon Lines from exercising absolute discretion based on creditworthiness to refuse to extend credit or its right, where credit has been extended, to demand and collect payment of all freight and related charges prior to vessel's arrival at port of discharge.
9. If freight and related charges are not paid when due, Horizon Lines reserves the right to collect such freight and related charges from the applicant or its agents, and any expenses incurred in collecting such freight and related charges due Horizon Lines, including, but not limited to collection agency fees, reasonable attorney's fees, and court costs at the mediation, arbitration, trial and appellate levels.
10. The applicant agrees that all shipping documents will indicate the correct address to which freight invoices are to be mailed.
11. Horizon Lines reserves the right not to forward, deliver or release shipments or payments in its possession until all outstanding freight and related charges on delivered / completed shipments is made to Horizon Lines.
12. The terms of the applicable Horizon Lines tariff or service contract are incorporated herein by reference and made a part of this credit agreement. If there is any conflict between the terms of this credit agreement and the terms of Horizon Lines tariff or service contract, the terms of the tariff or service contract shall prevail over the terms of this credit agreement.
13. This credit agreement may not be assigned by applicant without the prior written consent of Horizon Lines.
14. Horizon Lines reserves the right, based upon a change in the applicant's credit history / performance, to adjust applicant's credit limit accordingly.
15. Applicant authorizes Horizon Lines to check the provided references and credit reporting companies pertaining to our credit responsibility, and authorizes said references and credit reporting companies to release appropriate credit information to Horizon Lines.
16. This credit agreement shall be governed by and construed in accordance with the applicable laws of the State of North Carolina, without regard to conflicts of law.