An open charge account allows individuals and businesses to purchase goods or services on credit and pay the balance according to agreed billing terms. A Charge Account Form is the first step in establishing this credit relationship with a supplier or organization.
The form collects applicant identification details including full legal name or business name, mailing address, city, state, zip code, phone number, and fax number. Individual applicants provide a Social Security Number, while business applicants enter their Federal Employer Identification Number (EIN). The desired credit limit and bank account information are also required.
A key section covers credit references. Applicants must list at least three creditors by name, along with their telephone numbers, fax numbers, and addresses. These references help the issuing organization verify the applicant's payment history before approving the account.
Applicants must also answer compliance questions about their payment practices, including whether they pay from invoices, require purchase orders, and pay sales tax. Tax-exempt businesses must attach a signed exempt sales tax certificate with their submission.
The final section of the form is reserved for internal use by the issuing organization and records the credit check results, approval decision, assigned credit limit, and account number.
| Question | Answer |
|---|---|
| Form Name | Charge Account Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | charge account form sample, application charge account form, charge account form online, business charge account application forms |