Published by b2medeveloper on , Trading Agreement Terms & Conditions, Updated on
Payment
The Customer agrees to make payment for goods and services supplied by Future IT Services upon the basis set out in the credit application accepted by Future IT Services and as referred to in this document.
Guarantee
In the event that the Customer is a company or trustee of a trust, the Customer shall provide guarantees from the directors of the company or trustees in their personal capacity in a form satisfactory to Future IT Services.
Suspension
The terms of credit shall be automatically suspended if the credit limit or payment terms are exceeded and all sums unpaid shall become due and payable immediately upon demand.
Interest
The Customer shall pay interest on all sums of money outstanding beyond the terms of credit at the rate of three per cent above the interest rate charged from time to time by Future IT Services banker on any overdraft facility provided to Future IT Services.
No Agency
The Customer shall not represent itself as the agent of Future IT Services and shall have no power to commit Future IT Services with respect to any transaction with any person or entity.
Possession
Future IT Services shall be entitled to immediately retake possession of the goods in the event of the terms of credit or any provision of this document not being complied with, or in the event of any receiver or manager being appointed with respect to the Customer or its business, or the Customer being subject to either a bankruptcy or liquidation application. The Customer shall be responsible for the costs of removal by Future IT Services of the goods and hereby authorises Future IT Services, its directors servants or agents to enter any premises the Customer may occupy or control to remove the goods supplied by Future IT Services.
Warranty
In addition to any warranties that are implied by law, Future IT Services warrants to the Customer that the goods supplied by it are free from any defects in workmanship and materials. A claim under warranty must be notified to Future IT Services in writing within ninety days of the goods delivery date.
Prices
Unless otherwise stated, prices for the goods and services may vary and do not include freight, insurance, goods and services tax or any duties, levies or other incidental costs, which shall also be payable by the Customer.
Payment Terms
Payment for machines, equipment (including software) and for all other goods and services is due within seven (7) days from the date of invoice unless otherwise specified in the “trading Terms” section of the invoice.
Delivery
Future IT Services will arrange delivery of goods to nominated premises at the Customer’s request and expense. The Customer is solely responsible for transport and delivery costs of the provision of goods and services by Future IT Services.
Installation
Installation of machines and equipment is to be performed by Future IT Services at the nominated premises. Such premises must meet Future IT Services site specifications at the Customer’s expense.
Credits
The Customer must notify Future IT Services in writing within seven days of any claim for defective Goods or any delivery shortfall. Future IT Services may accept such claims and issue a credit, in respect of unrequired consumables, however a credit will only be issued when they are returned in a saleable condition unopened in their original packaging.
Property Rights
The sale of the Goods does not include nor convey any intellectual property to the Customer such as copyright, trademarks, designs, patents or similar and are not transferrable.
Force-majeure
Future IT Services may postpone or cancel any obligations or agreements to supply goods or services or delay payment in the event of force majeure.
Liability
Liability of Future IT Services to the Customer in respect of any goods or related services shall never include liability for any losses or damages in the nature of consequential losses, economic losses, losses of profit, losses of or liabilities to third parties, losses from disruption to business activities or any damages of any nature whatsoever relating to these losses whether caused by the neglect, breach or default of Future IT Services or any of its employees or agents.
Title
It is expressly agreed and declared that the title of the goods 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 and retain them as the fiduciary agent and bailee of Future IT Services.
The Customer may resell the goods but only as a fiduciary agent of Future IT Services. Any right to bind Future IT Services to any liability to any third party by contract or otherwise is however expressly negative. Any such resale is to be at arm’s length and on market terms and pending resale the goods are to be kept separate from the customer’s goods, clearly identified, properly stored, protected and insured.
The Customer will receive all proceeds whether tangible or intangible, direct or indirect of any dealing with such goods in trust for Future IT Services and will keep such proceeds in a separate account until the liability to Future IT Services shall have been discharged.
Future IT Services is to have power to appropriate payments to such goods and accounts as it thinks fit notwithstanding any appropriation by the Customer to the contrary.
In the event that the Customer uses the goods in some manufacturing or construction process of its own or some third party then the Customer shall hold such part of the proceed of such manufacturing or construction process as relates to the goods in trust for Future IT Services. Such part shall be deemed to equal in dollar terms the amount owing by the Customer to Future IT Services at the time of the receipt of such proceeds.
Risk
All risk in the goods shall pass from Future IT Services upon delivery to the Customer.
Termination
The credit account may be terminated by either the Customer or Future IT Services on three (3) months notice given in writing to the other.
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