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Corporation Credit Application Form Page 5
PAYMENT APPLICATION. You agree that your payments will be applied as JDF
determines in its sole discretion. You agree that JDF has this discretion and that JDF
may exercise it to suit its own convenience and interests, without further notice to
you. You also agree that JDF may change how it applies payments at any time
without notice to you. You acknowledge that the exercise of this discretion by JDF
may result in cases in which the application of your payments to your Account
creates higher Finance Charges then other payment application methods and that
this may include payments allocated to balances with lower APRs before balances
with higher APRs and/or to balances with longer promotional periods before
balances with shorter or no promotional periods.
You agree that your payments will be credited as of the date of receipt at the address
on the payment stub of your Monthly Statement if received by 11:00 a.m. Central
Time Monday through Friday (otherwise next business day); but if payment is not
accompanied by the payment stub, is not in the envelope we provided, includes other
items, such as other checks, staples or paper clips, or is not received at that location,
credit may be delayed up to ve days.
If you have been set up for the invoice specic payment application option (Open
Item Billing/Payment by Invoice) and if a purchase made through your account
included, in the transaction information sent to JDF, an invoice number, and you later
send a payment to JDF that you designate to be applied to that transaction,
including the invoice number, that payment will, not withstanding any other
payment application provision on the Agreement, be applied rst to pay any unpaid
balance due on that transaction, provided, however, that if invoices on your Account
are past due, JDF reserves the right to apply any portion of or all of the payment
received to these older invoices, unless JDF receives written notice of a dispute with
this invoice(s) and acknowledges this dispute in writing. JDF further reserves the
right to apply any amount of payment received, even if specic invoices are named,
to nance charges that remain past due. Any remaining payment amount will be
applied as otherwise specied in this Agreement. The application of any payment to
a transaction as described above will not be a waiver of any balance due attributable
to other transactions, any Finance Charges or other charges.
MERCHANT CHARGEBACKS. JDF may charge back to a merchant who sold goods or
services to you on your Account, any part of your Account balance related to those
purchases. In that event, this Agreement will be deemed assigned to the merchant to
the extent of the chargeback. You agree to such an assignment and further agree to
pay the merchant the amount of such chargeback in accordance with the terms of
this Agreement.
DEFAULT. You agree that you will be in default if: (a) you fail to pay the Minimum
Required Payment within 10 days after the Payment Due Date; (b) the value of JDF’s
security interest in any collateral is materially impaired; (c) your ability to repay is
materially reduced by you exceeding your credit limit, by a change in your
employment, by a change in your obligations, by bankruptcy or insolvency
proceedings involving you, or (for community property state residents only) by a
change in your marital status or domicile; or (d) the sole proprietor, a partner or a
personal guarantor of the business holding the Account dies or becomes
incompetent; (e) you have provided JDF false or misleading information relating to
your credit application or Account; (f) you fail to perform any other of your
obligations under the terms of this Agreement as it may be amended; or (g) you are in
default under any agreement you have with JDF or any of its afliates.
If you fail to make the Minimum Required Payment when due, JDF may close your
Account to future purchases. You agree that upon your default, JDF may close your
Account to future purchases and that JDF may demand immediate payment of your
entire Account balance, after giving you any notice and opportunity to cure the
default required by applicable law. In addition, you agree that JDF shall have all the
rights of a secured creditor under the Uniform Commercial Code and other applicable
DELAY IN ENFORCEMENT. You agree that JDF can delay enforcing its rights under
this Agreement without losing them.
ELECTRONIC DISCLOSURE. You agree that any notices and disclosures related to
your Account can be delivered to you in printed form or by electronic means if you
provided an electronic mail address to JDF when you applied for this Account or at a
later date. Until JDF receives notice of a new electronic mail address, JDF may
continue to send such notices and disclosures to the electronic mail address you
most recently provided to JDF.
GOVERNING LAW. This Agreement must be approved, and all charges and payments
to your Account processed by JDF at its ofce in Madison, Wisconsin. Therefore, this
Agreement and your Account will be governed by the substantive law of the United
States and to the extent state law applies to this Agreement the substantive law of
the State of Wisconsin; regardless of whether or not you reside in Wisconsin. The law
of your state of residence will apply to JDF’s recovery of any merchandise or other
collateral located there.
This is the entire Agreement between you and JDF relating to your PowerPlan Account
and no oral changes can be made. Invalidity of any provision of this Agreement shall
not affect the validity and enforceability of the remainder of its terms.
AGREEMENT. You agree that JDF may change this Agreement, including the Finance
Charge Calculation and the APR, at any time, by providing prior notice to you. To the
extent that the law permits and JDF indicates in the notice, the changes will apply to
your existing Account balance as well as to future transactions.
ACCOUNT. To help the government ght the funding of terrorism and money
laundering activities, Federal law requires all nancial institutions to obtain, verify,
and record information that identies each person who opens an account. What this
means for you: When you open an account, you will be asked for your name, address,
date of birth, and other information that will allow JDF to identify you. You may also
be asked to show your driver’s license or other identifying documents.
Your Choice to Limit Marketing
The John Deere Financial companies are providing this notice. They include Deere &
Company, Deere Credit, Inc., John Deere Construction & Forestry Company and
John Deere Financial, f.s.b.
You may limit the John Deere companies, such as the manufacturing, credit, leasing
and insurance afliates, from marketing their products or services to you based on
your personal information that they receive from any John Deere Financial
company. This information may include your income, account history, and credit
Your choice to limit marketing offers from the John Deere companies will apply for
at least 5 years from when you tell us your choice. Once that period expires, you will
receive a renewal notice that will allow you to continue to limit marketing offers
from the John Deere companies for at least another 5 years.
To limit marketing offers, contact us (1-800-634-9661).
PowerPlan is a service of John Deere Financial f.s.b.
CR2110489 Litho in U.S.A. (11-06)
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Corporation Credit Application Form