Terms and Conditions of Sale with GurneyGears 1)

Ge ne ra l a. GurneyGears is herein described as the Seller and the p e r s o n , c o m p a n y o r e n t i t y wi t h w h i c h t h e S e l l e r e n t e r s i n t o a n y co nt ra ct e vid en ce d b y thi s do cu me n t is h er ein d e s c r i b e d a s t h e B u y e r . U n l e s s t h e c o n t e x t i s o t h e r wi s e , “ Go od s” shall me an all t he s ub je c t ma t t e r of a ny co nt ra ct e vid en c ed b y thi s do cu me n t . b. All cleri cal errors are subject to corrections and shall be binding. c . No e mp lo ye e o f th e Seller is a ut horis ed to bin d th e Seller unless the Seller has gi ven the Buyer express written notice to that effect. d . T he se T er ms an d Con ditio ns bi nd th e Seller , t he Bu ye r an d their respective successors and assi gns.

2)

T e rms Of Pa yme nt a. I f t h e B u y e r h a s a n a p p r o v e d c r e d i t a c c o u n t wi t h t h e Sell er, p a y me nt b y t he b uy er f or t he goo d s an d se rvi ce s s u p p l i e d m u s t b e m a d e b y t h e 2 0 t h o f t h e m o n t h f o l l o wi n g the date of the Sales Invoi ce. b. T he Seller r eser ves the right to cease supply or to change the Buyer to a prepay account where all goods and services shall be paid for before they are supplied. c . A l l a m o u n t s o wi n g b y t h e B u y e r t o t h e S e l l e r o n a n y a c co un t s hall i mme di at ely b ec o me d ue a nd p a ya ble up on receipt of noti ce. d. T he Buyer shall pay the Seller ’s costs and expenses (i ncluding all legal fees as between client and solici tor) and in te re st o n th e ou t st an ding a mo u n t in cu rr ed b y th e Seller and such costs and expenses shall be recoverable from the Buyer as a debt owing to the Seller. e . T he Selle r r e ser v es t he rig ht to i mme d i at ely c an cel a ny contract for the supply of goods and servi ces, or suspend any such suppl y without incurring any liability to the buyer i n a n y o f t h e f o l l o wi n g c i r c u m s t a n c e s : T he Bu ye r i s ov er du e wit h an y pa yme n t or o th er wis e in b re ac h of t he s e ter ms a nd co nditio ns . T he Buyer enters into bankr uptcy, liquidation or a c o m p o s i t i o n wi t h i t s c r e d i t o r s , h a s a r e c e i v e r ma n a g er or a d min i st ra to r ap poin te d o ve r all or a n y p ar t of it s a ss et s or b e co me s in s olve n t. I f c on tr ac tu al per fo r ma n ce is d ela ye d or p re ve nt ed d ue to a ny c au s e or cir cu ms t a n ce . Cancellati on by the Seller shall be wi thout pr ejudice t o t he Selle r’s rig ht t o re co ve r pa yme n t fr o m t he Buyer for goods and services previously supplied.

3)

Sup pl y, De li ve ry a nd Ri sk a . Deliv er y s hall be d ee me d to t ak e pla c e wh en the Buy er or the Buyer’s agent or any other person or carrier to whom the Seller has been authorised by the Buyer expressly or i mpli edl y to d elive r su c h go od s re cei ve s s uc h go od s . Up on delivery the Buyer shall inspect and sign for all goods supplied. The Seller shall not be liabl e for shortages, d a ma g e or o th er er ror s in th e deli ve ry af ter the Buy er h as received and signed for the delivery. b. T he Seller r eser ves the right to deliver the goods in in st al me n ts a nd all s uc h in s tal me n ts , wh ere se par at ely i n v o i c e d , s h a l l b e p a i d f o r wi t h o u t r e g a r d t o t h e d e l i v e r y o r s u bs eq ue nt in st al me nt s . A p ar t deliv er y o f an o rd er s hall not invali date the balance of the order. c . T he ris k s i n th e go od s s hall pa ss to t he Bu ye r i mme di at ely upon deli very unless specifi call y requested in writi ng by the Bu y er a t th e ti me o f pu rc ha s e.

4)

Wa rra nt y a nd Q ua li t y a. W her e the goods suppli ed by the Sell er ar e defecti ve in t e r m s o f c o n d i t i o n o r o t h e r wi s e d o n o t c o n f o r m t o t h e o r d e r , the Seller will, at i ts own discretion, repair or replace the goods.

5)

Buye r Ca nce ll at io ns a nd Ret urns a . T he Bu ye r ma y re tur n go od s s up plie d f or a cr edi t ag ain st s u b s e q u e n t s u p p l i e s p r o v i d e d t h e f o l l o wi n g c o n d i t i o n s a r e satisfied: T he Seller’s written approval has fir st been obtained The goods are returned in their origi nal condition; a c co mp a nie d by Buy er ’s n a me , a ddr es s , re as on f or return, and copy of the origi nal i nvoi ce. T he Buyer pays for all fr eight costs rel ating to the returned goods.

6)

Di sp uted Ac co unt s a. T he Seller will be entitled to charge default i nterest on accounts not paid by the due date. Such interest will be c al cula te d on a d aily b asi s fr o m t he p ay me n t d ue d at e un til t h e Seller re cei ve s p ay me n t , at a ra t e of 2 .0 % p er mo n th . T he c ha rgin g of in te re st d oe s n ot imp l y t he g ra ntin g or extensi on of credi t. b . An y di sc ou nt o ff er ed b y t he Seller will b ec o me in v alid. c . T h e a m o u n t o wi n g t o t h e S e l l e r s h a l l i m m e d i a t e l y b e c o m e d u e a n d p a y a b l e . N o t wi t h s t a n d i n g t h a t t h e d u e d a t e h a s arisen. d . A l l B u y e r c r e d i t f a c i l i t i e s wi l l b e s u s p e n d e d a n d s u p p l y stopped. e . T he Selle r will b e en title d t o r e co ver f ro m t h e cu s to me r all costs, including on a solicitor client basi s, arising from the c olle cti on o f an y ou t st an ding p a y me n ts .

7)

8)

Retention of Title a. Property in all goods supplied by the Seller to the Buyer p ur su an t t o th es e te r ms an d co ndi tio n s, whe t her sup plied now or in the future, shall not pass to the Buyer until those goods and other goods supplied by the Seller to the Buyer have been paid in full. b. T he Buyer agrees ( for the pur pose of section 36(b) Personal Property Securiti es Act 1999) to thi s Retention o f Title clau s e cr ea ting a p ur ch as e mo n e y se cu rit y interest in all goods supplied by the Seller to the Buyer while those goods are held as inventor y by the Buyer until the Buyer has fully paid for the goods. Further, the Buyer hereby wai ves the ri ghts to recei ve a verifi cation s t at e me n t for th e pur po s es o f se c tio n 14 8 o f th e A ct . c. Until the goods have been paid for in full the Buyer shall s t or e th e go od s i n su ch a ma n ne r as to cl ea rly s ho w t ha t they are the pr oper ty of the Seller and so that they are ma i n tain ed in g oo d co ndi tion . d . T he Bu ye r ir re vo ca bly a ut ho ris es t he Seller at a n y- ti me , t o e nt er on to a ny p re mi se s up on whi ch the : Sell er ’s goods are stored to enable the Seller to inspect the goods and/or i f the Buyer has breached t h e ter ms a nd co nditi on s on co ntr ac t , re clai m t he goods. Buyer’s records pertai ning to the goods are hel d to inspect and copy such records. e. T he Buyer and Seller agree that the provisi ons of this cl au s e ap ply n ot wit hs ta ndi ng a ny ar ra ng e me nt p ur su an t to whi ch the Seller grants credit to the Buyer . Liability a. T he Buyer acknowledges it has entered i nto the contract s olel y i n relia nc e up on it s s kills and ju dg e me n t. All r ep re se nt ati on s, t er ms a nd war ra ntie s ( e xpre s se d an d i mpli ed) n ot e xpre s sly in clud ed in th e se t er ms a nd conditi ons are hereby excl uded. The Seller shall be under no liability whatsoever to the Buyer for or in the r espect o f a ny r epr e sen t atio ns , t er ms an d wa r ra nti es n ot e xp re s sly s et ou t in t he s e te r ms and co nditi on s an d no t e f fe cti vel y e xclu de d he re und er . In so f ar a s th e bu ye r ma y , n o t wi t h s t a n d i n g t h e f o r e g o i n g , h a v e a n y c l a i m o n d a m a g e s a gai ns t t he Seller . At la w th e sa me s hall no t i ncl ud e d a ma g es f or in dire ct o r co n se qu en tial lo ss o f an y kin d or f or a n y lo s s at trib ut abl e to a ny e v en t s or cir c u ms t an ce s beyond the contr ol of the Seller or in the delay of the s u sp en sio n of t his con tr a ct . T he d ama g e s in a ny e v en t shall be the purchase price of the goods, or of the cost of r es up ply o f s er vic es o r th e ac tu al lo s s or d a ma ge su ff er ed ( de te r min ed in a cc or da nc e wit h th e pri nci ple of co mmo n la w) , wh ic he ve r sh all b e th e l es s er a mo u n t.

9)

Privacy Act a. T he Buyer acknowledges and gi ves consent to the Seller t o c ollec t , r et ain a nd u se p er so nal in f or ma tio n ab ou t t he Buyer for the purpose of: Assessing the Buyer’s credi twor thi ness. Disclosing to a third par ty, details of the Buyer’s credit application and any subsequ ent dealings i t m a y h a v e wi t h t h e S e l l e r f o r t h e p u r p o s e o f r ec o veri ng a mo u nt s p ay abl e by t he Bu y er an d providing credi t references. Obtaini ng a credit worthiness report from a credi t r ep or ting a ge n cy o r cr edit p ro vid er n a me d in t he credit application.

10)

Perso nal Pro pert y Securities Act a. T he Bu ye r he reb y a c kno wl edg e s tha t t he se t er ms a nd c o nditi on s of T rad e c on sti tu te a s ec uri ty agr ee me n t whic h creates a security i nterest i n the favour of the Seller in all goods previousl y supplied by the Sell er to the Buyer (or f or t he Bu y er s ac co un t) t o s ec ur e pa y me n t fr o m ti me t o ti me a nd a t a ti me , in cludin g f ut ure a dv an ce s . T he Bu ye r agrees to grant a “Purchase Money Security Interest” to the Seller, as that term is defined in the PPSA.

Declaration I____________________________ ( N a m e ) have read, understand, and agree to these Terms and Conditions of Sale.

Signed:

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Title:

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Date:

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Application for Credit with GurneyGears Trade Name: Company

. Sole Trader

Partnership

Other

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Addresses Delivery Address:

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Accounts Address:

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Contact Information Telephone:

. Mobile:

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Email Address(es):

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Contact Names Principal Shareholders or Proprietors

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Name of Purchasing Contact:

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Name of Accounts Payable Contact:

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This form complet ed by:

. Title:

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Bank Information Bank:

. Branch:

Account No:

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References Independent Trade References: 1.

. Phone:

. Contact:

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2.

. Phone:

. Contact:

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3.

. Phone:

. Contact:

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Declaration I, (Name), have read, understand and agree to the Terms and Conditions of Sale and attest that all details in this Application of Credit are true and accurate. Signed:

. Title: G ur n ey Ge ars

.Date:

61 Ja ck sons R d , Lyttelton , New Z ea la nd

www.GurneyGears.com

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Ph: 03 -32 88- 646

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