In this Credit Account Agreement (this "Agreement"), "you" and "your" refer to each client who signs the Credit Account Activation Form (the "Form") and "we", "us", "our" means New Concept Furniture and all current and prospective lending institutions or private individuals both international and domestic.

By signing and returning to us the Form below you agree that the following terms, the information specified in the offer letter, and the information contained on the Form will apply to the amount of credit (the "Loan") and the Credit Account (the "Credit Account") we have established for you. New Concept Furniture IS NOT THE LENDER HOWEVER, A $60.00 APPLICATION AND PROCESSING FEE WILL BE ASSESSED IF YOU ARE APPROVED AND PROVIDED WITH CREDIT.

1. Credit Limit
The maximum amount of the Loan available to you is as set forth in the Offer Letter or such other amount as we may advise you in writing from time to time (the "Credit Limit"). The maximum amount of credit available to you at any time (the "Available Credit") is equal to the Credit Limit minus the amount of the debit balance of the Credit Account.

2. Access to Your Credit Account
You may utilize the Loan by purchasing on the New Concept Furniture website ONLY, no other debits are allowed. Access to your balance and other account information can be obtained via and through the lending institution and set forth in your Offer Letter. New Concept Furniture IS NOT THE LENDER BUT ONLY FACILITATES YOUR LOAN APPLICATION WITH VARIOUS PREFERRED LENDERS. LENDERS MAY BE DOMESTIC OR INTERNATIONAL, PRIVATE OR COMMERCIAL AND SUBJECT TO THE RESPECTIVE LENDER'S TERMS, CONDITIONS, INTEREST RATES AND OTHER FEES.

3. Interest
Your interest rate is comprised of the institutional or lender Prime Rate plus an adjustment factor determined by New Concept Furniture. The institutional Prime Rate may change from time to time. The institutional Prime Rate may be accessed at any time by contacting your respective lender. We may also change the adjustment factor, but we will give you prior written notice of this, stating the effective date of the change. Interest is calculated and accrues daily on the final debit balance in the Credit Account and is debited monthly on the last day of each month (the "Statement Date"). We will send you a statement each month (the "Monthly Statement"). The interest accrued up to and including the statement date is due on the statement date and payable on or up to the 25th day of the following month. Any unpaid interest will be added to your Loan balance for the following month and will accrue interest as set out above.

OTHER CHARGES PAYABLE
The costs of borrowing and credit charges do not include any costs incurred by New Concept Furniture in connection with steps taken to enforce this Agreement or to collect any Indebtedness due (including legal fees on a solicitor-client basis which New Concept Furniture may also debit to your Credit Account). You may also have other expenses (including legal fees) which you may be required to pay directly to your own advisors in connection with advising you in relation to this Agreement which will affect your cost of borrowing. If you choose at your option to purchase other products or services which we may offer from time to time, the cost thereof will also be an additional expense to you and will affect your cost of borrowing.

4. Payments
You will repay all amounts owing by you in excess of the Available Credit and you will repay the "Indebtedness" on New Concept Furniture's and/or your lender's demand. "Indebtedness" on any date means the total amount you owe New Concept Furniture and your lender in respect of the Loan, made up of the debit balance in your Credit Account, including all advances to the Credit Account, interest debited to your Credit Account on the Statement Date, interest accrued but not yet debited to the Credit Account, and any other costs, charges and expenses.

Until demand or the Indebtedness becomes otherwise due and payable, you will, on or before the payment due date (the "Payment Due Date") set out in each Monthly Statement, make a minimum payment as set forth with your respective lender, the outstanding balance owing and as shown on the Monthly Statement.

You may also repay all or any part of the Indebtedness at any time, without notice or bonus. You may not make any repayment by utilizing the Credit Account. Payments will be credited on the date received by New Concept Furniture and applied first to accrued interest, second to costs and expenses incurred by us, and third to principal.

5. Automatic Payment Program
The Form must be signed by you and returned to us with a "void" check drawn on your account with another financial institution in order to evidence your acceptance of the terms of this Agreement, the Offer Letter, the Authorization and the Form and to activate your Credit Account, and to make your Loan available for use.

You acknowledge and agree that your signature on the electronic Form constitutes your written application pursuant to the Agreement for us to establish credit for you up to the Credit Limit as set forth in the Offer Letter. Once you have signed and returned the Form to us this Agreement will remain in force and effect until terminated by us, whether or not you may have terminated the Authorization in accordance with its terms.

You will inform us in writing of any change in the Designated Account information you have provided at least 30 days prior to the next Payment Due Date. You warrant and guarantee that all persons whose signatures are required to sign for the Designated Account have also signed the Form.

6. Termination or Suspension of the Credit Account
We may terminate or suspend your right to use your Credit Account without notice at any time. Termination or suspension shall not release you from any obligation under this Agreement until the Indebtedness has been repaid in full.

7. Default
In addition to New Concept Furniture's rights, if you fail to make any payment when due or to perform any other obligation under this Agreement or any other agreement with New Concept Furniture; or if you die or become insolvent or bankrupt, or take advantage of any law relating to bankruptcy, insolvency or for the relief of debtors, any rights to use the Credit Account will terminate automatically, without notice and you must immediately repay the Indebtedness.

8. Monthly Statements
We will send a Monthly Statement. You must notify New Concept Furniture of any error or omission in a statement within 30 days following the Statement Date. If you do not do so, except for any amount incorrectly credited to the Credit Account, the following shall be deemed conclusively to be established: (a) the statement is complete and accurate; (b) all items debited and credited to the Credit Account are genuine and authorized.

9. Your Other Obligations
You will promptly give New Concept Furniture written notice of any change in your address and agree to provide us with such information concerning your financial circumstances that we may require from time to time in order to keep the information which you provided to us at the time of applying for the Credit Account up to date.

10. Set Off
New Concept Furniture may from time to time offset and debit against any other account or balance you have with us any amount that you are then obliged to pay to us under this Agreement.

11. Amendments
New Concept Furniture may amend this Agreement from time to time on 30 days' notice to you. Notice of amendment will be sent to you in email or will accompany or appear on your Monthly Statement.

12. Agreement Binding; Assignment
This Agreement is binding on you and your heirs, executors, administrators and other personal legal representatives. You remain bound by this Agreement, even if there is no Indebtedness at any particular time, until New Concept Furniture has given you a written release. You may not assign this Agreement.

13. Co-Applicants
If more than one person has been named in the Offer Letter and both execute the Form, each is jointly and severally (that is, both individually and collectively) liable for all obligations under this Agreement, the Offer Letter and the Form, and any one of you may utilize the Credit Account, without the signature or consent of any other person who has signed.

14. Notice
Any statement, notice or other document required or permitted under this Agreement may be sent by email or delivered to you at the most recent postal address you have provided to us. You will be deemed to have received it on the date of delivery or on the fifth day after mailing. If more than one client has been approved for this Credit Account, the statement, notice or other document will be effective and binding on all of you if mailed or delivered to one of you.

15. Disclosures
All interest rates, penalties, and other fees and repayment amounts shall be set by the individual lender and disclosed to you in your Offer Letter and may be amended at any time and according to the terms set forth herein. Additional fees assessed by New Concept Furniture as disclosed herein shall be communicated to you in your Offer Letter and also may change at any time and according to the terms set forth herein.

16. Privacy Code
New Concept Furniture is committed to keeping your personal information accurate, confidential, secure and private. We will never solicit personal or otherwise sensitive information from you via email. All sensitive communications will be conducted via the New Concept Furniture website and secure login. You may be notified from time to time via email that a secure message is waiting for you and direct you to log into your account on the New Concept Furniture website via secure connection. Your account user name and password will be sent to you via postal mail at the address you provide at the time of your Application for credit. Your login credentials may be changed any time by logging into your account ONLY ON THE New Concept Furniture WEBSITE. New Concept Furniture CANNOT BE HELD RESPONSIBLE FOR THIRD PARTY SOLICITATIONS FOR YOU TO DIVULGE SENSITIVE INFORMATION. New Concept Furniture WILL ONLY COMMUNICATE WITH YOU VIA OUR SECURE COMMUNICATIONS CENTER ON THE New Concept Furniture WEBSITE.

17. Exchange of Information
You authorize New Concept Furniture to collect and/or exchange credit and other financial information about you from Credit Bureaus and other financial institutions. New Concept Furniture may, from time to time, update such information in order to evaluate your ongoing eligibility for credit.

18. Language Clause
The parties have requested that this Agreement and any ancillary documents be drafted in the English language (USA).

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Credit Account Authorization Form

This Authorization is given pursuant to the Agreement between the person(s) who sign(s) the Form and New Concept Furniture. The meaning of terms contained herein shall have the same meaning as those found in the Agreement.

You acknowledge that you have received a copy of and shall be bound by the terms, conditions and provisions of the Agreement, the Offer Letter, the Authorization and the Form (which, by signing the Form, you shall be deemed to have signed for the purpose of all applicable law). You understand and agree that the amount of the Payment made pursuant to this Authorization may vary from month to month and will include payment for costs chargeable to you and for additional services offered by us from time to time which you may choose at your option to purchase.

By signing the Form, you also:

1. confirm your understanding and acceptance of and participation in the Automatic Payment Program;
2. acknowledge that this Authorization is provided for the benefit of us and the Other Institution and is provided in consideration of us agreeing to process debits against your Designated Account in accordance with the terms and conditions of the Authorization;
3. acknowledge that the Other Institution is not required to verify that the Payments are authorized by the Authorization;
4. confirm that you understand that you may cancel this Authorization at any time by giving 15 days prior written notice to us; and
5. confirm that all payments are for personal or business purposes and consent to the disclosure of any personal information contained in this Authorization in accordance with payment rules.

You also agree that we may cancel your right to use the Automatic Payment Program i) immediately, if any Payment is not honoured because there are insufficient funds in your Designated Account, or for any other reason which prevents the transfer of funds to us; or ii) on 30 days' written notice to you.