REVOLVING PLAN TERMS AND CONDITIONS
COMMERCIAL USE
This is your Agreement. Please read it and keep it for your records.
NOTICE TO OHIO RESIDENTS. The Ohio laws against discrimination require that all
creditors make credit equally available to all creditworthy customers, and that credit
reporting agencies maintain separate credit histories on each individual upon request.
The Ohio Civil Rights Commission administers compliance with
this law.
NOTICE TO MAINE RESIDENTS. If this application is approved by the creditor, you
will be required to obtain and maintain physical damage insurance on the collateral
securing the debt. You have a right of free choice in the selection of the agent and
insurer through or by which the insurance is placed.
TERMINOLOGY. In this Agreement the words you, your, and yours mean each
person, business or company that applies for and is granted a Revolving Plan Account
(“Account”), and any personal guarantor of your Account. JDF means John Deere
Financial, f.s.b., or any subsequent holder of the Account or any balances arising under
the Account. When the terms “nance charge” and “interest charge” are used in
this agreement and on other documents related to your Account, they have the same
meaning.
CREDIT APPROVAL. This Agreement is not binding on JDF until JDF has approved your
credit and given you notice of approval.
CARD. You request an Account and credit card (“Card”) from JDF. You agree that this
Agreement controls all purchases made on this Account or with use of the Card by
you or any person you authorize to use it. You authorize JDF to honor any purchase
you make by mail, telephone, internet, facsimile transmission (fax) or other electronic
means on your Account. You agree that a signature is not necessary as identication
in such cases. You agree that any authorized use of your Account or Card constitutes
your acceptance of all the terms and conditions of this Agreement, as it may be
amended from time to time. If you submit your application to JDF by internet, facsimile
transmission (fax), or other electronic means, you agree that the application will have
the same effect as a signed original. You agree that you will promptly notify JDF in
writing of any suspected loss, theft, or unauthorized use of your Card. You may be
liable for the unauthorized use of your Card before you notify JDF in writing at,
John Deere Financial, P.O. Box 5327, Madison, Wisconsin 53705-0327 of the
unauthorized use. In any case, your liability will not exceed $50. You consent and
agree that your telephone conversations with JDF may be recorded to further
improve JDF’s customer service. You agree that JDF may place phone calls to you
using any telephone number you have provided to JDF, including using an automatic
dialing-announcing device, and that such calls are not “unsolicited” under state or
federal law. You agree to give JDF prompt notice of any change in your name, mailing
address, telephone number, or business location. You agree that until JDF receives
notice of your new address, JDF may continue to send statements and other notices
to the address you gave JDF on the application for this Account. You agree that, for
the purposes of this Agreement, you will be deemed to “reside” in the state of your
billing address as shown on JDF’s records. If more than one person or entity signed the
application, each is jointly and severally responsible for all obligations, and amounts
due, under this agreement. If Maryland law applies, Subtitle 9 of Title 12 of the
Maryland Commercial Law will apply.
CREDIT LIMITS. JDF will state your credit limit when JDF noties you of credit approval
and issues your Card. You may request a change to your credit limit by writing JDF at
the address listed above. You agree that JDF may increase or decrease any credit
limit at any time, in JDF’s sole discretion, without prior notice to you.
ACCOUNT USE. You can use your Account to purchase authorized goods and services
from participating retailers up to the full amount of your credit limit. You agree you
will owe JDF all amounts charged on your Account, plus interest charges and the other
charges provided for in this Agreement. JDF will allow a purchase of authorized goods
or services from a participating retailer to be made through your account as long as
(1) you are not in default; (2) your nancial condition has not materially or adversely
changed; and (3) JDF has not been provided information by third parties that indicates
serious charge-offs or delinquencies with other of your accounts. You agree to use
your Account primarily to make purchases for commercial use, and not for agricultural,
personal, family, or household use. We will consider your Account to be inactive if no
purchases have been made through your Card, and your Account Balance has been
zero for 6 months or more.
You agree that JDF is not responsible for the refusal of anyone to allow a purchase
to be made through your Revolving Plan Account.
MONTHLY STATEMENT. JDF will send you a monthly statement whenever there is
activity on your Account. Your monthly statement will show your New Balance and
any Late Fees and Interest Charge. In addition, it will show any available credit, an
itemized list of current Purchases, Debits, Payments, and Credits, the Minimum
Required Payment and the Payment Due Date, as well as other information concerning
your Account.
If you think your monthly statement is incorrect, write to JDF on a separate sheet at
the address shown on the back of your billing statement no later than 60 days after
JDF sends you the rst statement on which the error or problem appeared. Describe
the error as best you can and include your Account number in all correspondence. JDF
will send your monthly statements on dates and in intervals determined by JDF. Such
statement shall be deemed correct and accepted by you unless JDF is notied to the
contrary in writing within 60 days of the date of that statement.
PAYMENT. The Payment Due Date is the date the payment is due at the address shown
on the front of your monthly statement. You may at any time pay your entire New
Balance or pay more than the Minimum Required Payment, and you will avoid or reduce
Interest Charges by doing so. Payment of more than the Minimum Required Payment,
while reducing your balance, may also be applied to your future Minimum Required
Payments for up to six months. If your Payment Due Date falls on a Saturday, Sunday
or holiday, the Payment Due Date will not be extended. All payments must be in U.S.
dollars and drawn on funds on deposit in the United States. Payments must be sent to
John Deere Financial, at the address designated on your monthly payment stub, or to
any other payment address JDF later designates on your monthly statement payment
stub. We will not accept any payments at our ofces.
INTEREST CHARGE RATES. Interest Charges on your account for Regular Purchases
may be calculated using a variable rate that will be determined by reference to a
“Base Rate” to which is added a “Spread” to arrive at the current rate with a minimum
ANNUAL PERCENTAGE RATE (APR) of 19.8%. The same Spread will be used for
purchase(s) within your account.
Interest Charges on your account if your account goes into Default, may be calculated
using a variable rate that will be determined by reference to a “Base Rate” to which is
added a “Spread” to arrive at the current rate, with a minimum APR of 22.8%.
The Base Rate from which your variable rates will be determined is the annual
percentage rate of interest announced publicly from time to time by Citibank, N.A. in
New York, New York, as the base rate it uses for interest rate determinations, which
was in effect at the close of business on the fteenth (15th) calendar day of each
month, or the next succeeding business day if the fteenth is not a business day
(“Reference Day”). The Spread added to the Base Rate to determine the APRs that will
apply to your Account will be:
Spread
Regular Purchase Rate 15.0%
Default Rate 18.0%
Rate increases and decreases that result from changes in the Base Rate will take effect
on the rst day of the month, or the next succeeding business day if the rst day is not
a business day, after the Reference Day on which the Base Rate changes.
Changes in your variable rate will apply to your existing Account Balance as well as
to future purchases. An increase in your rate will increase the total Interest Charge
accruing on your Account and the balance on which your Minimum Required Payment
is calculated.
Current effective rates are shown below:
Daily ANNUAL
Periodic Rate(s) PERCENTAGE RATE(S)
————————————————————————————
Regular Purchase Rate
.054247% 19.8%
————————————————————————————
Default Rate
.062466% 22.8%
—
———————————————————————————
The above rates are correct as of the date of printing, May 1, 2017, but are subject to
change after that date.