The following Credit Policy is written and adopted to meet Federal and State Credit Laws.
No Frills Oil Co. Inc. will not discriminate in granting credit on the bases of race, color, religion, national origin, sex, marital status, age; because all or part of the applicants income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.
All bills are due within 14 days.
All account balances, which are unpaid after fourteen (14) days after billing date, are overdue. Terms are net 14, unless requested differently.
Credit to approved accounts only.
Credit is determined via a signed, completed credit application. Upon review of the application, an approval or denial letter shall be sent within 48 business hours.
Late Fee/Finance Charge Terms
All accounts are subject to late charges. A late fee will be added, computed at a periodic rate of 1.5%, which is an annual rate of 18%, calculated for the date of purchases on amounts unpaid for 30 days or more. For propane, after the net 14 days have passed, a finance charge of $0.10 per gallon will be added to customer’s account. For #2 heating oil/kerosene, after the net 14 days have passed, your delivery will be updated to the retail price of the day, on the day of delivery. All statement accounts will be billed on the 1st day of the month and are due by the 14th of each month or the same fees apply as listed above.
Change of Terms.
No Frills Oil Co. Inc. has the right to change terms of this agreement at any time by giving notice as required by law. New terms may apply to balances outstanding at the time the new terms take effect, subject to state law.
Obtaining and Furnishing Credit Data
No Frills Oil Co. Inc. may obtain a credit report on applicants for credit or in connection with an update, renewal, or extension of credit.
Collection costs will be added to all accounts referred to Maine District Court. Cost may include, but not limited to, fees paid to the court, law enforcement agencies, and attorney fees. Copies of all collection costs shall be provided at the customer’s request.
Termination of Account
No Frills Oil Co. Inc. retains the right to cancel or limit use of your account.
Automatic delivery is determined by No Frills Oil Co. Inc. based on credit approval and/or credit history. Consumer must maintain access to property and communicate changes in consumption.
Will Call Delivery
A customer may call when they wish for a product to be delivered. No Frills Oil Co. Inc. shall delivery to will call customers on the next scheduled delivery day without a delivery charge.
Delivery charges, which range from $100-$250, may be applied for an established customer requesting a delivery on a day other than the regularly scheduled delivery day.
C.O.D accounts require payment before or at the time of delivery. A customer requesting C.O.D. must still submit a new account/credit application to open an account.
A customer with a zero balance and approved credit may request a budget account. 11 monthly payments are based on 11 months usage. Accounts failing to remit two (2) consecutive payments will be removed from the budget plan, returned to standard pricing, and placed on previous credit status.
Check/Electronic Check Re-Presentment Policy
Should your check be returned for insufficient funds, your account will be debited for the checks face amount plus a returned check fee of $40.00.