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RETAIL CHARGE AGREEMENT

RETAIL INSTALLMENT CREDIT AGREEMENT

In return for Ben David Jewelers, Credit-Seller (also referred to as "we", "us" and "our" in this Agreement), issuing a credit card and extending credit to the Buyer, Co-Buyer, or someone authorized by the Buyer or Co-Buyer to make purchases un- der this Agreement (also referred to as "you" and "your" in this Agreement), you agree to the following regarding all purchases.

1. Cost of Credit. Finance Charges not in excess of those permitted by law will be charged on the outstanding balances from month to month. If you elect to use the 30 Day Option at the time of purchase and if the total cash price of any purchase is paid in full within 30 days of the date of purchase, any Finance Charge will be refunded. Each month you will receive a statement which will show all the transactions and the amount you owe (the "New Bal- ance") as of the billing date shown on that billing statement. You have the right to pay the full amount owed within 30 days from the date of each billing statement and, if you do, you will avoid paying a Finance Charge. If you do not, you will pay a Finance Charge as follows:
   
   
   
   
2. Minimum Finance Charge. In Virginia, there is a minimum FINANCE CHARGE of $.50 will be imposed in any month in which the application of the periodic rate would be less than $.50.
3. Method of Computing the Balance on Which Finance Charge is Figured is the Average Daily Balance Method. We figure the Finance Charge by applying the periodic rate(s) to the Average Daily Balance, including current transactions. To get the Average Daily Balance, we take the beginning balance of your account each day, add any new purchases and subtract any payments or credits and unpaid Finance Charge. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the Average Daily Balance.
4. Minimum Payment Schedule. You agree to pay each month at least the minimum monthly payment due. The minimum monthly payment for the plan is based on the highest New Balance in the account. This means that as new purchases are added to increase the account balance (the "New Balance") the minimum payment will increase. That payment will not decrease as the account balance decreases but will remain at the highest level until the New Balance is paid in full. The minimum monthly payment due will include any past due amount. You may at any time pay more than the minimum amount due or the full unpaid balance. Regular Charge Plan - If you do not choose to pay the "New Balance" in full, a monthly FINANCE CHARGE will be elry purchases of $1,000 or more). If you do not choose to pay the "New Balance" in full, a monthly FINANCE CHARGE will be added to your account and you agree to pay a mini- mum of 1/15 of the New Balance or the previous monthly payment amount (whichever is higher) in equal monthly payments until paid in full.
5. Security Interest. We retain a security interest in all goods purchased under this Agreement under the Uniform Com- mercial Code until the unpaid balance of each purchase is fully paid.
6. Late Charge. If we do not receive a payment from you in at least the amount of the Minimum Payment within 10 days after the Payment Due Date shown on your monthly billing statement, we may impose a late payment fee as shown below. You will only be charged one late payment fee for any Minimum Payment which is not paid by the Payment Due Date. Late Charges are 5% of the Payment with a maximum charge of $5.00 and a minimum charge of $1.00.
7. Returned Check Charge. If your bank does not honor the check you gave us to pay amounts you owe under this Agreement, or if we must return a check because it is not signed or otherwise irregular we may charge you a returned a returned check fee of $25.00
8. Other Charges. There is no annual fee or other charge for the issuance, availability or renewal of the credit card is- sued card issued for this account.
9. Default/Collection Costs. If you fail to pay any minimum monthly payment when due, it will be a default, and, sub- ject to any right you may have under state law to receive notice of and to cure such default, we may declare the en- tire unpaid balance in the Account due and payable. We may also repossess any article or merchandise in which we still retain a security interest, but we will do so only in the manner and to the extent permitted by applicable law. If the Account is referred to an attorney who is not our salaried employee in addition to the full amount owed and any court cost to the extent permitted by applicable law you agree to pay our rea- sonable attorney’s fees of 20% of the total amount due, or such lesser amount as may be permitted by applicable law.
10. Seller’s Right to Limit Account and Charge Terms. We may limit the amount you can purchase on this account. We may charge the terms of this Agreement at any time by giv- ing you notice of the change in the manner required by law and, to the extent permitted by law, and any new terms may at our option be applied to your entire account balance.
11. Credit Investigation. This Agreement shall not be effective until we approve your credit application. We may investigate your credit report to responsible persons and credit bureaus your performance under this Agreement. A consumer report may be requested from consumer reporting agencies in considering your application and subsequently for the pur- pose of an update, renewal, or extension of credit. Upon request, you will be told whether or not a consumer report was requested and, if such report was requested, you will be told the name and address of the consumer reporting agency that furnished the report.

PRIVACY POLICY

PROTECTING OUR CUSTOMER PRIVACY is important to our business. Our privacy policy will allow you to better understand how we keep our customer informa- tion private and secure.

Ben David Jewelers Privacy Policy (consists of the following):

• Protecting the confidentiality of our customer information
• Who is covered by our Privacy Policy
• What information we keep on our customers and where it comes from
• What information we share
• Why we share information
• With whom we share information

PROTECTING THE CONFIDENTIALITY OF OUR CUSTOMER INFORMATION

The protection and confidentiality of our customer infor- mation is a very important and serious matter to us. We comply with all federal standards and maintain pro- cedures, as well as electronic and physical protection to store and secure our information about our custom- ers from unsanctioned access, alternation and ruin. It is our policy that only authorized personnel can access this information in the duties of their work.

If we choose to enter an agreement(s) with another company(ies) to provide services to us or to make cer- tain products or services available to our customers, these other companies may receive certain information about our customers; however, they must safeguard this infor- mation, preserve confidentiality, and they may not use it for any other purpose.

YOUR PRIVACY IS IMPORTANT

WHO IS COVERED BY OUR PRIVACY POLICY

All of our customers are provided with our Privacy Policy when they open a new account and annually thereafter. If we change our Privacy Policy to allow us to share addi- tional information or different information we have about our customers or share this information with different types of parties, we will notify our customers in advance.

INFORMATION WE HAVE ABOUT OUR CUSTOMERS

We receive information about our customers from various sources including:

• Information we receive from customers on credit applications and other forms
• Information about customers transactions with us or others.
• Information we receive from a customer reporting agency (Credit Bureaus)

INFORMATION WE SHARE

We may share the above mentioned information for:

• Legal and routine business reasons
• Reasons permitted by law

WITH WHOM WE MAY SHARE CUSTOMER INFORMATION

• Financial Service Providers (such as insurance companies, mortgage companies
• Non-financial companies and other (such as direct marketing)

YOUR BILLING RIGHTS - KEEP THIS FOR FUTURE USE

This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR BILL

If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the "mail billing inquires" address listed on your bill. Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:

• Your name and account number.
• The dollar amount of the suspected error.
• Describe the error and explain, if you can, why you believe there is an error. If you need more informa- tion, describe the item you are not sure about.

YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE RECEIVE YOUR WRITTEN NOTICE

We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the bill was correct.

After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount in question, including fi- nance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question.

If we find that we made a mistake on your bill, you will not have to pay any finance charges related to any ques- tioned amount. If we did not make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is.

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