Any and all credit terms offered to the Customer are subject to written credit approval by Gigantic, which may be revoked upon written or verbal notice. Past due amounts may be assessed an accrued interest charge of one and one half percent (1 1/2%) per month (or fraction thereof) or the highest rate permitted by law. Any credit terms offered by Gigantic are available only so long as Customer fulfills all obligations under the terms and conditions herein including, but not limited to, timely payment of invoices within stated terms. Gigantic reserves the right in its sole judgment to require satisfactory security before shipment of products to Customer. Customer grants to Gigantic a security interest in all products and in all proceeds thereof until the complete purchase price and all additional costs are paid by Customer.
Gigantic may, at its option, file documents reasonably required to protect Gigantic’s security interests in the products and Customer agrees to cooperate with Gigantic in taking such actions. If Customer defaults in payments under any order, Gigantic, at its option, may defer further shipment under any order from Customer until Customer re-establishes satisfactory credit, or Gigantic may cancel the unshipped portion of any order without any liability on the part of Gigantic for failure to ship. Customer shall not be entitled to deduct from the price invoiced by Gigantic any claim by Customer against Gigantic. If Gigantic finds it necessary to employ an attorney or third party agent to collect any past due amounts owed, it may collect, in addition to any other sum owed, its reasonable fees expended for such collection services.