SETTLEMENT OF ACCOUNT. Purchaser shall make settlement
within thirty (30) minutes of conclusion of sale session in which
the horse is purchased, for the full sale price. Settlement is
to be in the form of U.S. currency, cashier's check or traveler's
check, unless financial responsibility and clearance for credit
have been approved by Barretts.
FINANCIAL RESPONSIBILITY. Approved credit request or
confirmed Letter of Credit.
CREDIT REQUEST. Page 11/12 is to be presented to Barretts
at least two weeks prior to sale in order that the request can
be verified and approved. If credit is approved, payment must
be made within 15 days or finance charge at maximum legal rate
will be assessed from date of purchase (See Condition Sixth).
LETTER OF CREDIT. Must be issued payable at sight,
irrevocable, and confirmed by:
Bank of America · Trade Finance Services
9350 Flair Drive, El Monte, CA 91731
Telephone (818) 307-6600 · Fax (818) 307-6690
Telex MCI67652
Swift · BOFA US 6S
in favor of:
Barretts Equine Limited, P. O. Box 2010, Pomona, CA, 91769
and payable against the following documents: 1) invoices for
each and every horse purchased, showing full purchase price,
including sales tax and other charges as applicable; and 2) executed
copy of Barretts standard business form "Acknowledgement
of Purchase."
Letter of Credit should expire not less than forty-five (45)
days from last day of sale and be filed with Barretts at least
one week prior to date of sale. For additional information, please
contact the Barretts sales office.
WIRE TRANSFERS. To facilitate settlement for purchases,
U.S. funds only may also be wire transferred as follows:
Bank of America · Pomona Main Branch
444 S. Garey Avenue, Pomona, CA 91766
Account Number 02101-06622
Routing Number 122000661
Beneficiary: Barretts Equine Limited
Transfers must indicate they are for the account of Barretts
and should show purchaser's name and hip number(s) for the horse(s)
in question.
AGENTS. If purchaser is represented by an agent, such
agent must either comply with all provisions with regard to financial
responsibility as if he were the purchaser, or must submit a
letter of authorization (or use form on page 8) signed by purchaser,
addressed to Barretts, which states that the agent is authorized
to purchase at a particular sale for account of purchaser and
that such purchaser has complied in advance with all the provisions
concerning financial responsibility.
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