Credit Application Form

Credit Application Form

(You can save and continue the application later at the bottom of the page)

  • Part 1 Customer Details

  • Full Business Address عنوان المؤسسة

  • Details of Sponsor(s)/Partner(s)/Director(s) بيانات الملاك/الشركاء/المدراء المفوظين بالشركة

  • (Please attach separate sheets for details of more than 2 Sponsor(s)/Partner(s)/Director(s) (يرجي إرفاق كشف منفصل بالتفاصيل المشار اليها اعلاه اذا زاد عدد الاشخاص عن اثنين)

  • Credit facilities availed from suppliers /bank التسهيلات من الموردين/البنوك

  • Persons authorized to Nominate Candidates الأشخاصالمخولونلتسمية المرشحين

  • Persons authorized to Sign Cheques أسماء المخولين بتوقيع الشيكات

  • Details of Credit Required (Part 2) تفاصيل التسهيلات الائتمانية المطلوبة (الجزء 2 )

  • Annual Turnover of past 2 years حجم المبيعات السنوي على مدى العامين السابقين

  • Bankers بيان بأسماء البنوك

  • Clauses and conditions of the credit facilities

  • First:Polyglot Institute reserves its right to reject/withdraw/reduce the credit facilities to any customer inclusive of benefiters out of these facilities recently or increasing the same due to request by client in writing.
    Second:Services will be provided against purchase orders/letters/faxes/telephone/Email issued by the client. If the client is not acquainted with practices for issue of the same mentioned means, notices of services provisions signed by the authorized representative/employee working with the client, shall be accepted for purpose of receiving invoices denoting that services are requested by the client and under its responsibility.
    Third: If the purchases of the applicant exceed maximum limit of financial facilities above mentioned, this means the company approved and attested action by its authorized personnel.
    Fourth: The overdue amount shall be settled within the credit facility period agreed upon above, and the company reserves its rights to account for a percentage of profit at 1% rate per month for delay to pay dues from date of maturity.
    Fifth:Polyglot Institute has the right to accept or reject any request to postpone a back dated cheque and in case request to postpone such cheque, additional fees will be imposed against delay in the manner decided by the company from time to another, and similarly the company will impose additional fees per each returned cheque.
    Sixth: The credit facility acceptance will be subjected to the personal warranty signed by the local sponsor and other shareholders that will be personally responsible for settlement of deferred overdue in case the company fails to pay. This personal warranty is not conditioned and/or limited and irrevocable or exempt payment of overdue amounts as per the attached text (obligation to all companies).
    Seventh: The credit facilities may be withdrawn or frozen, if amount of any returned cheque will not be settled within seven days.
    Eighth: Polyglot Institute reserves the right to take any legal action according to the regulations valid in the Sultanate of Oman in case of settlement failure and demand recovery of all born losses in this regard from the client.
    Ninth:Polyglot Institute has the right exclusively to transfer any of the rights or obligations resultant from or caused by these credit facilities to its affiliated, sub or friend companies without seeking approval from client.
    Tenth:Polyglot Institute has the right solely, in case of payment defer, to dispose of such money and return it to the deferred party, claiming the difference and any other specified additional administrative fees.
    Eleventh: This credit facility is valid for a period of Two yearsNotice for revision of the terms and conditions shall be providedat least two months prior to expiry date by either parties.
  • Section Break

  • We, ……………………………………….., vide this agree to the above mentioned clauses and conditions and request you to include our name in your approved clients list and confirm that data and information explained in part (1) and (2) of this application are true and correct and we bear full responsibility for any action/process assumed by any of our authorized representatives.
  • Date Format: DD dash MM dash YYYY
  • N.B please attach the following: Copy of owner/partners IDCs Copy of IDC/Passport for signatory/signatories on behalf of the company or those authorized to sign the cheque(s). Copy of IDC/ labor card/Passport of the OIC Updated copy of commercial registry documents Copy of affiliation certificate to OCCI (Oman) Insuring policy covering amount according to demand or as agreed upon
  • Warranty Agreement

  • I, we …………………………….., agree, that due ………….., in the address POB ….. Code ………., Sultanate of Oman (the indebted) and Polyglot Institute LLC in the address POB ….. Code ….., Sultanate of Oman (the debtor) have entered into agreement of credit facilities on …………. According to which, the (indebted) avails the services depicted in credit facilities/purchase orders required and issued by the indebted/invoices issued from the debtor, subject that such amounts against pertinent services shall be in accordance with stated postdated payment period that is already determined in the conditions and provisions of this credit facilities application OR by way of any amounts invoiced that exceed credit limits, as and when requested by the indebted, however also the warrantor/warrantors, jointly or severally, agree that their responsibility coincided with this warranty agreement focuses on being main debtor/main indebted and basically undertake their obligations as such definition and not only warrantor. The warrantor/warrantors confirm irrevocably, without restrictions or conditions, jointly or severally towards debtor, all dues and liabilities accrued, timely as determined by the indebted against all installments or other amounts, whatsoever entitled according to the credit facilities agreement and/or annexure/amendments referred to, or any overriding credit ceiling attributed to demand by the indebted, and in general any other obligations to be settled by the indebted in favor of the debtor, and performing all necessary required duties towards total obligations of the indebted through adherence to conditions of this agreement, and acknowledges without restrictions or conditions together with the indebted to pay on demand all entitled or falling due installments, or that anytime shall be in future entitled or due for payment by the indebted in favor of the debtor pursuant to conditions of credit facilities agreement, add to that the fulfillment on demand towards all obligations and liabilities of the indebted in favor of the debtor, whether eventual or anticipated and whether solely or jointly with another party.
  • Date Format: DD dash MM dash YYYY
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