Below is a summary of key Trade Credit terms. Full terms may be provided during application and/or approval.
1. Credit Terms
1.1 Credit Facility Approval
Subject to approval by the Supplier, the Customer may be granted a trade credit account.
1.2 Provisional Credit Limit & Payment Terms
For new accounts, we may initially apply a provisional credit limit, with payment terms of 30 days from the date of the invoice. These terms are subject to review after the first few transactions.
1.3 Extended Payment Terms
The Supplier may, at its discretion and subject to approval, extend payment terms to 45-60 days from the date of the invoice for qualified Customers. Such extension is contingent upon a review of the Customer’s financial position and account history. The Supplier will notify the Customer in writing should these extended terms be granted.
1.4 Right to Amend or Withdraw Terms
The Supplier reserves the right to review, amend, or withdraw the trade credit terms, including the credit limit and payment period, at any time, and without prior notice.
2. Orders and Payment
2.1 Order Placement
Orders placed under this Agreement are governed by the Supplier’s standard terms and conditions of sale, available on the Supplier’s website and incorporated by reference into this Agreement.
2.2 Payment Obligations
Payments for all goods purchased on credit must be made in full within the agreed payment terms. Late payments may result in suspension or termination of the Customer’s account and/or withdrawal of credit facilities.
3. Customer Obligations
3.1 Retention of Title
Until full payment is received for any goods supplied under this Agreement, those goods shall remain the property of the Supplier, and the Customer agrees not to resell or transfer ownership of the goods until the debt is settled in full.
4. General Terms
4.1 Entire Agreement
This Agreement constitutes the entire agreement between the Supplier and the Customer with respect to trade credit and supersedes any prior agreements or understandings, whether written or oral.
By applying for and using the trade credit facility, the Customer agrees to the terms outlined in this Agreement.