BORDER STATES COOPERATIVE CREDIT POLICY 

OPEN ACCOUNT

• Credit application must be completed and approved 
• Payment will be due and payable by the 20th of the month following the purchase 
• If your account is not paid in full by the 20th of the month following the purchase, there will be a late payment fee of 5% added to your account on ALL purchases. 
• If your account is not paid in full by the 20th of the month following the purchase, there will also be a 1.5% finance charge (18% annually) assessed on all unpaid invoices. 
• This change will only affect budget billing if you do not make your regular monthly payments by the 20th of the month following the purchase.  It will only affect deferred billings if they are not paid by the 20th of the month they are due in.

ACCOUNTS PAST DUE

• 60 Days Past Due:  Patron will receive a reminder letter. 
• 90 Days Past Due:  Patron will receive a second letter and be placed on a cash-only basis. 
• 100 Days Past Due:  Legal actions will be taken to collect on past due balance.