Open Account Form PVH Corp.

Transcription

1 GLOBAL TRADE FINANCE Open Account Form PVH Corp. This document MUST be completed and attached to all your payment presentations under the PVH program. 1. Failure to complete all sections of this form may delay payment. 2. The supplier requesting payment is solely responsible for ensuring that all instructions on this cover sheet conform to any financing arrangements in place. 3. Options for submission of documents: a. Via to Maximum size of 5 MB per . or b. Send original documents to: Citizens Bank / PVH Processing International Trade Operations Center Mailstop: MMF Cabot Road Medford, MA USA 4. If you have questions about documents or payments, please PVHvendorpayments@citizensbank.com. 5. Presentation Information: Invoice # Invoice Date Invoice Amount (List Currency) USD Total Citizens Bank One Citizens Plaza Providence, RI Citizens Financial Group, Inc. All rights reserved. Citizens Commercial Banking is a brand name of Citizens Bank, N.A. and Citizens Bank of Pennsylvania. Member FDIC.

2 6. Vendor Information Vendor Name: Vendor Address: Vendor Contact Person: Address: Phone Number: Fax Number: 7. Vendor s Payment Information Citizens will pay in accordance with the instructions you provided in your Supplier Checklist. 8. Demand for Payment (Draft/Bill of Exchange) Submission of the below completed and signed draft represents Vendor s request to receive an early discounted payment, net of discount interest charges and Program processing fees (which may occur only upon buyer s approval). The Pay to the Order of (Payee) and the Drawer s Name must both be the name of Vendor. (Note: cannot be made payable to anyone other than Vendor; no third-party drafts will be accepted.) Please sign the endorsement line below thereby endorsing the draft to Citizens Bank, N.A. Please sign on Authorized Signer line (under #8) on page 3 of this form as Vendor s agreement to Draft Discounting program. Notes to completing the Draft: A Date: Enter date that draft is signed (Month day format January 15). B Year: Enter last two digits of current year (17 for 2017). C D E F G H I Days: Enter number of days of payment terms and include the most recent invoice date included with any presentation, e.g., 45 days Sight will equal a maturity date of 45 days from the date PVH has approved your presentation and added their acceptance upon the draft. Pay to the Order of (Payee): Enter your company name (e.g., Vendor, Inc.). Amount: Enter United States Dollar or Canadian Dollar amount in numbers and words (e.g., USD80, Eighty Thousand and 00/100 U.S. Dollars ). Drawer s Name: Enter your company name. Signature: The Authorized Signer(s) of your company must sign the Draft. Endorsement: Have your Authorized Signer(s) sign the endorsement section of the draft and insert your company name. Insert the appropriate buying entity indicated in the Purchase Order and whom you invoiced. The Buyer (PVH Corp.) may increase or decrease the presentation amount. The Draft should equal the Presentation Amount. Page 2 of 5

3 Sample for your Reference Date: A 20 B At C (Insert the Tenor, i.e., 45 ) Days after the Drawee s Acceptance of this Sole Bill of Exchange Pay to the order of D (Insert Vendor Name: Must be the same name as in sections 6 and 8 above) The Sum of E (Amount of Presentation in numbers and words, e.g., USD10.10 USD Ten Dollars and 10 cents ) VALUE RECEIVED AND CHARGE THE SAME TO ACCOUNT OF To: I (PVH Corp. OR PVH Canada, Inc.) *Or Insert the Entity you sold the goods to F (Insert Vendor Name) Drawer s Name G (Vendor signature(s)) Authorized Signature Sample Endorsement: Pay to the order of Citizens Bank, N.A., Boston, MA Date: A Authorized Signer(s):* G (Vendor signature(s)) Company Name: H (Insert Vendor Company Name) * Vendor warrants that the persons signing have the authority to execute this endorsement Page 3 of 5

4 This Bill of Exchange must be completed in accordance with the instructions provided above for payment. Date: 20 At Days after the Drawee s Acceptance of this Sole Bill of Exchange Pay to the order of The Sum of VALUE RECEIVED AND CHARGE THE SAME TO ACCOUNT OF To: *Or Insert the Entity you sold the goods to Drawer s Name Authorized Signature Endorsement: Pay to the order of Citizens Bank, N.A., Boston, MA Date: Authorized Signer(s):* Company Name: * Vendor warrants that the person(s) signing has the authority to execute this endorsement. Page 4 of 5

5 9. If Vendor wishes to participate in the optional Draft Discounting Program, then please complete Section 9 in full and ensure that you ve signed and endorsed the draft. Discounting of Draft: To receive early payment, please complete, sign and endorse the attached bill of exchange ( Draft ) substantially in the form above (inserting as Drawee, the appropriate PVH Corp. entity collectively PVH Corp. ) and submit it to Citizens Bank along with all other required documents. Upon PVH Corp. s acceptance of the Draft, Vendor asks that Citizens Bank purchase such Draft, from Vendor, on a discounted basis, less any Open Account processing fees, subject to applicable laws and regulations, and internal compliance policies. Vendor confirms that the Draft is a true: a. original (if submitted by mail) or b. representation of the original, properly executed and signed and endorsed by one or more of Vendor s authorized signors. Vendor acknowledges and agrees that Citizens Bank s receipt of Vendor s duly completed, signed and endorsed Draft and related documents, whether by or courier, will represent the absolute and irrevocable true sale of the Draft by Vendor to Citizens Bank, and such sale and transfer and conveyance of the Draft hereunder will provide Citizens Bank (or any other purchaser) with the full benefits and burdens of ownership of the Draft. If Citizens Bank, in its sole discretion, agrees to purchase the Draft, then upon Citizens Bank s receipt of payment approval from PVH Corp., Citizens Bank shall pay an amount equal to the face amount of the Draft, less Citizens Bank s discount charge at a rate of relative LIBOR (for USD drafts) plus 1.75% calculated on a 360-day year basis to the bank account provided by the Vendor to Citizens Bank. Vendor agrees that at no time will Vendor permit to exist any lien or other encumbrance on Citizens Bank s rights in respect of the Draft or the transaction to which it relates. Vendor hereby attests that the goods and/or services covered by the Draft relate to one or more commercial trade transactions as evidenced in this presentation. The Draft shall be governed by and subject to the laws of the State of New York. Vendor has been authorized by PVH Corp. and, therefore, the Draft constitutes a bona fide, unconditional, legal, valid and binding payment obligation on of the applicable mentioned PVH Corp. entity, enforceable against it with respect thereto and in accordance with its terms, and no dispute, discount, deduction, claim, offset, defense or counterclaim of any kind exists with respect to the Draft. Sincerely Yours, Authorized Signer Company Name Page 5 of 5