1. The customer herby warrants that the information comprised in the first two pages of the credit application is true, accurate and correct and is supplied for the purpose of obtaining credit.
  2. The customer warrants that the person/persons who have signed the credit agreement are duly authorised by the customer to apply for credit on behalf of the customer and to execute the agreement on behalf of the customer.
  3. The customer agrees to comply with and abide by the terms and conditions of this agreement.
  4. The customer agrees that it is not entitled to any credit facilities until it receives notice in writing from the supplier stating that credit facilities have been given and specifying the terms and conditions upon which such credit facilities are given.
  5. In the event of the supplier granting credit facilities to the customer then the following terms shall apply:
    1. Payment of all accounts is required by due date, being the end of the month following the month of purchase.
    2. That should the customer default in the payment of any monies due under this agreement then all monies due to the supplier shall immediately become due and payable and shall be paid by the customer within SEVEN days of the date of demand and the Supplier shall be entitled to charge interest at the rate of 15% per annum on all overdue accounts from the due date until the date of actual payment.
    3. Any expenses , costs or disbursements incurred by the supplier in recovering or attempting to recover any outstanding monies including debt collection agency fees and solicitors costs shall be paid by the customer.
    4. The supplier shall be entitled without notice to terminate any credit arrangement with the customer in the event of the customer defaulting in any of the terms and conditions herein contained.
    5. The supplier shall be entitled to at any stage during this agreement request security or additional security, when the supplier shall in its discretion think fit and shall be entitled to withhold supply of any goods or credit arrangement until such security or additional security be obtained.
  6. The customer acknowledges that the goods supplied by the Supplier shall remain the property of the supplier until the supplier receives payment for goods. The supplier hereby agrees to allow the customer to deal, sell  or trade with the goods in the normal course of business and for the customer to retain the sale proceeds of such sale or dealing provided that the customer complies with the Terms and Conditions of this agreement. In the event of the customer defaulting in any of the terms of this agreement including the payment of any monies due, then the supplier shall have the right (without giving notice) to retake possession of the goods supplied to the customer, and the customer hereby authorises and allows the supplier or its representative to enter the premises upon which the goods are housed or stored for the purpose of retaking possession of the goods and the supplier shall not be liable for any costs, losses or damages suffered by the customer as a result of the repossession.
  7. The Directors/Shareholders of the applicant do herby jointly and severally guarantee payment of the account and to enter into the standard form of guarantee used by the company should such guarantee be required.
  8. The signatories to this agreement and guarantors where applicable herby authorise the supplier to carry out credit checks and to obtain credit reports in respect of their credit worthiness.
  9. In the case of a Trust Company the customer acknowledges that the Trustee shall be liable on the account and that in addition the assets of the trust shall be available to meet payment of the account.
  10. In the event of change of ownership the customer shall no later than 14 days prior to any proposed change of ownership, change in registered particulars, alteration, addition to the shareholding or directorship, notify the supplier of the proposed changes. The customer shall notify the supplier of any changes, alteration or addition to the customer’s internal structure and shall provide full details of the proposed changes to the supplier. The customer shall be liable for any goods supplied by the supplier after such change unless the supplier has acknowledged in writing acceptance of the intended changes.

For the purpose of this document “GOODS” shall mean all goods and chattels and all charges for work and labour done, hire charges, fees, service charges, repairs and materials associated with the supply manufacture and repair of goods supplied to the Customer.