Terms & Conditions of Sale (General and Accounts)
GENERAL TERMS & CONDITIONS
TITLE OF GOODS: It is expressly agreed and declared that the title of the subject goods/products shall not pass to the customer until payment in full of the purchase price. The customer shall in the meantime take custody of the goods/products and retain them as the fiduciary agent and bailee of the company. As long as the customer owes the company any part of the price of goods supplied at anytime, the company shall retain the legal title to all goods supplied and not yet used or resold in ordinary course of business. When such goods are used, even with loss of identity, the legal title to the resultant product shall vest in the company. Proceeds of sale of unused goods or resultant products shall be received by the customer as agents of the company and on this account, such proceeds to be kept in a seperate account or to be accounted for the company on demand.
CAVEAT CLAUSE: The customer hereby charges mortgages in favour of the company to secure the repayment of the debt and all monies which become owing by the customer to the company hereunder all the customer's estate and interest in all property both real an personal present and future.
RECOVERY OF ALL COSTS: Any expenses, costs or disbursement incurred by the company in recovering any outstanding monies shall be paid by the customer to the company on an indemnity basis.
TERMS & CONDITIONS AGREED TO AS AN ACCOUNT HOLDER WITH BROCKS
1. that notwithstanding any change in my trading structure I will remain personally liable for all goods and services requested by me or my agents;
2. to pay for all goods sold and delivered or services provided in accordance with the terms of invoice (payment) or within such other period or time as may be notified to me from time to time by the Supplier;
3. in the event that any sequestration order is made affecting my property or I give any authority to a trustee under Section 88 of the Bankruptcy Act, or I commit any act of bankruptcy or any petition for my winding up, or I am placed in receivership, or any official manager is appointed, or I cease to trade or carry on my business in the usual manner, any amount then due by me to you shall become immediately payable or the goods returned if so desired by the Supplier;
4. that I have been supplied with a copy of the conditions of sale current at the date hereof;
5. that all sales of goods are made and services are provided to me by the Supplier only upon the terms contained in the Supplier’s conditions of sale. Until altered conditions of sale are notified to me I agree that the current conditions of sale shall continue to apply;
6. that a certificate signed by the manager, accountant, secretary, credit manager, or credit officer for the time being of the Supplier in respect of any sale or delivery or price of any goods or the provision or price of any services by the Supplier or the amount due owing or payable from time to time to the Supplier in respect of the sale of goods, the provision of services or on any account whatsoever as at the date or dates set out in such certificate shall in all courts and at all times be prima facie evidence of the facts therein stated; that I will pay to the Supplier interest in respect of any amounts as may from time to time be overdue calculated at the rate of interest applicable to bank overdrafts and indemnify the Supplier in respect of any taxes or stamp duties which may become payable by reason of or subsequent to any default in making payment in accordance with the terms of payment applicable from time to time;
7. a) ownership of the goods contained in each delivery (“the goods”) shall remain with the Supplier which reserves the right to dispose of the goods until payment has been received in full or until such time as I sell the goods to my customers by way of bona fide sale at full market value;
b) until payment in full for the goods has been received by the Supplier I shall hold the goods as bailee for the seller, provided however that I may, in the ordinary course of my business, use any of the goods to make up other products or sell any of the goods to make up other products or sell any of the goods on condition that should the Supplier so require I will assign to the Supplier my rights in respect of the sale price thereof;
c) I hereby acknowledge that until payment in full for the goods has been received by the Supplier I am under no obligation to the Supplier to account to the seller for the proceeds of the sale for the goods sold by me in the normal course of my business;
d) if any of the goods are on-sold I agree to place the proceeds of sale for the goods into a bank account conducted in my name and acknowledge that I will not withdraw any of those moneys until payment in full for the goods has been received by the Supplier;
e) I agree forthwith to insure the goods for their full value against loss or damage by fire, theft, accident and other such risks.
8. that I will indemnify the Supplier against and agree to reimburse it for any expenses it may incur in recovering or attempting to recover payment from me of the amounts which may from time to time be overdue. These costs include legal court, solicitors, debt collections agency commissions and fees;
9. that the Supplier may at any time and from time to time after its conditions of sale or the terms of payment and such altered conditions or terms shall apply in respect of all transactions taking place after notification to me of such altered conditions of sale or terms of payment;
10. that the Supplier may at any time or from time to time without assigning any reason therefore refuse to extend any further credit to me and that its approval of this application does not require the Supplier to extend to me any particular amount of credit;
11. that where there is more than one customer each customer shall be jointly and severally liable hereunder and in this application and all terms hereof the singular shall be read and construed as including the plural.