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Bumgarner Oil
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Credit Terms of Sale

Home Heating Fuel Purchases

  1. Net if paid in full within 30 days from delivery date.
  2. Equal Payment Plans available payable by the 15th of each month.
  3. All accounts over 30 days are subject to a finance charge of 11/2%   per month (18% per annum)
  4. All balances more than 90 days past due are subject to legal   collection procedures.

Your account is an open end retail credit account as defined in the Federal Truth in Lending Act.

  1. Finance Charges are imposed only if the customer elects not to pay the current charges in full within thirty (30) days from the billing date. If the “new balance” is paid in full within thirty (30) days of the billing date, no Finance Charge is imposed.
  2. Finance Charges are computed and determined as follows:

(a) From the “previous balance”, payments and credits are first deducted.

(b) The Finance Charge is next imposed by applying a monthly “Periodic Rate” to said “Previous Balance” after deducting payments and credits, with no "minimum or transaction charge" imposed. Said "Periodic Rate" of 11/2% per month is an ANNUAL PERCENTAGE RATE OF 18% which applies to all MONTHLY UNPAID BALANCES.

(c) Finally, charges for current month’s purchases of merchandise  and services will be applied in determining the new balance.