text: Did any one apply for newegg business account? - Business Credit - CreditBoards
  By ConcordUser, August 7, 2009 in Business Credit
  not yet, waiting to build my file up before I apply with them, I dont think these 4 dinky TLs will help my application.....but I intend to apply with them once I build up a little (hopefully I can fix all my address issues and what not soon). Have you applied with them? There business accounts are fairly new, I think there biz site has been up for a few days only. Does anyone know who backs them up and what reports they pull?
  I keep seeing a reference to their insurance company:
  "A credit line may be decreased or cancelled based on the decision of our receivable insurance carrier (Euler Hermes ACI). For more information about the decision, please contact our Credit Department at 626-271-9700"
  I've been using newegg quite a bit over the past quarter, very solid company, hopefully they will extend me some credit, I've made some pretty good sized purchases with them.
  Edited August 8, 2009 by clintbeastwood
  they do net accounts $25k on up
  if your not gonna purchase high volume, i wouldn't bother applying
  Introduction; Acceptance. Magnell Associate Inc. (dba Newegg.com), its parent and its subsidiaries ("Newegg") sell goods and services, primarily in the computer technology and consumer electronics categories ("Products"), which Customer desires to purchase through an open book account with a revolving line of credit. In consideration of Newegg agreeing to extend credit to Customer, Customer hereby agrees to the following terms and conditions:
  1. Credit Limit. Newegg may, but shall not be obligated to, establish a line of credit ("Credit Line") which Customer agrees not to exceed. This Credit Line may be changed or canceled if, in Newegg's sole discretion, Customer's method of payment, payment history, or financial condition should change in any way.
  2. Payment Term. In the event that Newegg has approved a Credit Line for Customer, the payment term is as stated in any Agreement executed between the parties relating to the purchase and sale of Products. If Newegg and Customer have not executed an Agreement, payment terms are Net 30 days from the date of any Newegg invoice, except that if a Newegg invoice requires an earlier payment date, the payment shall be due upon such earlier date.
  3. Past Due Amounts. Unpaid invoices will be considered past due on the 31st calendar day after any invoice date, except as otherwise required by Newegg. Newegg reserves the right to charge a finance fee of ten (10%) per annum or the maximum amount allowed by law, for any past due payment.
  4. Taxes. Customer will pay all applicable taxes on Products purchased unless an appropriate resale exemption certificate has been provided to Newegg prior to shipment or Newegg agrees in writing that the sale is otherwise exempt.
  5. Returns, Deduction and Offsets. All returns are at Customer's sole cost and expense, and in accordance with Newegg's Standard RMA Procedures. All Products returned for a refund are subject to a 15% restocking fee which Newegg may charge to Customer, or deduct from any refund or offset due to Customer. Credits to Customer will be made within thirty (30) business days.
  6. Purchase Orders. The shipment of any Product by Newegg or payment by Customer for the shipment of any Product shall constitute: (1) Customer's express and irrevocable disclaimer of any contrary terms in the Purchase Order submitted by Customer; and (2) Customer's express and irrevocable acceptance of these Standard Credit Terms and Conditions (the "Terms"). Customer and Newegg hereby expressly object to any additional or different terms contained in any writing, agreement, offer, purchase order or other communication between the parties unless in writing and signed by both Customer and Newegg. These Terms shall apply to all future purchases of goods and products by Customer from Newegg, regardless of the form of purchase used, unless varied by express written agreement signed by both Customer and Newegg.
  7. Purchase Money Security Interest. Customer grants Newegg the option to acquire a security interest in Customer's products and proceeds thereof in which this application or a copy thereof may be used as a security agreement.
  8. Collection Costs and Attorneys Fees. All costs incurred by Newegg, whether inside or outside a court of law in connection with the collection of any amounts owed by Customer, will be charged to Customer and Customer hereby agrees and acknowledges an obligation to promptly pay such costs. Subject to any mandatory and applicable laws, the minimum amount payable by the Customer for extra-judicial costs incurred in collection of amounts unpaid by Customer shall be fifteen percent (15%) of the amount due, without prejudice of Newegg's right to claim the actual costs reimbursement to the extent such actual costs exceed the minimum fixed amount, as determined pursuant to this Section.
  9. Confidentiality. "Confidential Information" means any information disclosed by one party (the "Disclosing Party") to the other party (the "Receiving Party") that is designated as confidential or that should reasonably be considered as confidential, given the nature of the information or the circumstances surrounding its disclosure. Confidential Information includes, any information relating to the Disclosing Party's technology, customers, business plans, promotional and marketing activities, finances and other business affairs, including without limitation, that which relates to research, documentation, data, business policies or practices, and financial statements. Confidential Information does not include information which (a) is publicly known at the time of its disclosure, ( is lawfully received from a third party not under a similar restriction of confidentiality, © is published or otherwise made known to the public by the Disclosing Party, (d) was generated independently by the Receiving Party, or (e) is required to be furnished by law, subpoena or court order, provided that the Disclosing Party shall be given prior written notice of such legal request within a reasonable time to seek a protective order or other appropriate relief with respect to such Confidential Information. The Receiving Party, during the Term of this Agreement and for a period three (3) years after termination of this Agreement, shall hold such Confidential Information in confidence, shall not disclose such Confidential Information except to its officers, advisors, consultants or employees who have a reasonable need to know such Confidential Information, and have executed confidentiality agreements at least as restrictive as those contained in this provision. Each party shall use at least as great a standard of care in protecting the other party's Confidential Information as it uses to protect its own Confidential Information of like character, but in no event less than a reasonable degree of care. Neither party shall disclose Confidential Information to any third party without the prior written approval of the other party, and shall return or destroy all such Confidential Information upon request of the disclosing party.
  10. Complete Agreement. These Terms contain the entire understanding of the parties with respect to the subject matter herein and except as specifically provided herein, supersede any and all prior or contemporaneous understandings, agreements, representations, conditions, warranties and all other communications whether oral or written, actual, implied or otherwise, between the parties relating to the subject matter hereof.
  11. Amendments; Waivers. No modification, amendment or waiver of any term or condition hereof shall be effective unless consented to in a writing signed by Customer and Newegg, which consent shall not be unreasonably withheld or delayed. Unless agreed to by an authorized Newegg officer in writing, Newegg will not be bound to any additional or different terms or conditions hereafter transmitted by Customer and Newegg will not be bound by its silence, course of dealing, usage of the trade or its acceptance of payment for the goods. Customer and Newegg hereby acknowledge and agree that the waiver of any provision hereto at a particular time by Newegg shall not constitute a waiver of such provision or any other provision at any other time, unless so specified in writing by Newegg to Customer.
  12. Assignment. These Terms and Customer's rights, duties and obligations hereunder shall not be assignable by Customer without the prior written consent of Newegg, which consent may be withheld in its sole discretion, but Newegg shall have the right to assign all of its rights and obligations hereunder without Customer's consent.
  13. Headings. Headings used herein are for convenience only and shall not be used for interpretive purpose.
  14. Interpretation and Authorship. In the event an ambiguity or question of intent or interpretation arises, no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of these Terms.
  15. Waiver. A party's failure to act with respect to another party's breach of any provision contained herein does not constitute a waiver.
  16. Severability. If any provision herein is held to be invalid, illegal or unenforceable, in whole or in part, such provision shall be narrowly construed, if possible, so as to be enforceable, or otherwise deemed ineffective and the remaining provisions shall not be affected.
  Governing Law. The rights and obligations of the parties under these Terms shall not be governed by the provisions of the 1980 United Nations Convention on Contracts for the International Sale of goods; rather these rights and obligations shall be exclusively governed in all respects by the laws of the State of California, without regard to conflict of law rules, and as such laws apply to contracts between California residents performed entirely within California. Customer expressly agrees and acknowledges that any dispute, claim or controversy arising out of or relating to these Terms or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this Agreement to arbitrate, shall be determined by arbitration in Los Angeles County, California before one arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude Newegg from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. The arbitrator may, in the award, allocate all or part of the costs of the arbitration, including the fees of the arbitrator and the reasonable attorneys' fees of the prevailing party. Customer agrees not to bring any legal action, based upon any legal theory including contract, tort, equity or otherwise, against Newegg more than one year after the date of the applicable invoice.
  ADDITIONAL PROMISES: If approved, you agree that NeweggBusiness's Terms and Conditions are hereby incorporated by this reference shall apply, without further modification or assent, to all transactions under this program ("Terms"). You acknowledge and agree to have our Terms presented in this manner, that you have read our Terms, and that you have retained a copy for your records. In addition, you agree that:
  (1) Payment terms are net 30 days; and
  (2) NeweggBusiness may, in its sole discretion, cancel or modify your deferred billing program if your method of payment, payment history or financial condition should change. If you default on a payment obligation, you will no longer be able to purchase under this program.
  CONSENT: To obtain deferred billing form NeweggBusiness Inc. ("NeweggBusiness"), you must consent for NeweggBusiness to disclose your information to NeweggBusiness and its advisors.
  AUTHORIZATION AND REPRESENTATIONS: On behalf of your company, you authorize NeweggBusiness to review your company's financial and credit standing in connection with this application. You authorize banks and other referral sources listed to release your information to NeweggBusiness. You represent and certify:
  (i) the content in this application is complete and truthful, along with any other information provided;
  (ii) you have the legal authority to bind your company; and
  (iii) you agree to promptly notify us in writing if there is any material adverse change to your company (financial condition or otherwise).
  Just applied for the net term account they offer asked for a $25,000 loc will let every one know the details when/if im approved
  any idea on who backs their credit? Does their own credit department handle it??
  i will know in 5-7 days if approved asked for/ selected the $25,000 option definitely dont expect that much but maybe will get something
  I know their personal card is backed by CIT. I would think CIT might be backing their business net30 accounts also. I am surprised why they are not accepting BillMeLaterBusiness as one of the payment options. I have $14K CL from CIT for BLMB. I know TigerB2B accepts BLMB, but I would rather use it a newegg if they were to accept the BLMB.
  Well, I got turned down.
  Euler Hermes (ACI), the company we use to review the financial standing of our applicants, has responded in the negative. More information about Euler Hermes (ACI) can be found at: http://www.eulerhermes.us. Should circumstances change in the future, please feel free to resubmit an application.
  I just checked my reports, no pull on Experian Business or any personal (no PG and never asked for SSN, so I didn't expect it) reporting so far.
  I guess doing 60k of CC business with NewEgg over the past 3 years wasn't enough.
  that's why i was like it doesn't make sense to apply for a large net acct like that
  i've had BML/Newegg Preferred personal accts for a few years; they are hidden tradelines
  newegg will give you a large revolving line and you don't have to worry about it reporting on your personal credit
  i've bought a shhhload of computer parts on those lines
  60k per year or over that three year span? Did they pull D&B, equifax possibly???
  over 3 years. I split my inventory purchases up mostly between D&H and NewEgg.
  Revolving Line? We were approved for 25K but one part it says Defferred , and another says Net Term Account; terms Net 30 days.
  did you pg? did you apply with your biz credit?
  No pg ... Business Credit
  What does your biz credit profile look like?
  Yrs Inc. ? Thanks in advance.
  How do your files look? How much business do you do with newegg, and do you know who they pulled??
  Inc in 2006, in Business since 1997
  Not bad, A few slow pays since the economy and sales slowed, we never used newegg prior, they pulled DNB.
  thanks, can you provide some more insight to your DNB file? How many TL's? What kind of balances show up on there? etc.
  Do you do over 10k of transactions with newegg per month???
  was this net30 through regular newegg, or the newegg biz site?
  Edited August 23, 2009 by clintbeastwood
  What business report does newegg pull ?
  It seems to be DNB
  26 TL's reporting, we have never used newegg until now. This is a Net30 from the newegg biz site.
  This is an old topic, but I didn't want to start a new one...
  Does anyone know if Newegg reports anywhere?
  bumping up an old topic,
  has anyone else applied at Newegg?
  I think we were still trying to figure out who they pull and if they report or not, its been a while since some of you have received the account, have they showed up for any of you on your files.