Application for Commercial Credit Account

8. Terms & Conditions of Trade

1. Parties: "Supplier" means Kesar P/L ATF The N & L Gupta Family Trust t/a Nathan Jewellers (ABN 60 540 570 658) of 453A Captain Cook Drive, Woolooware Bay, NSW 2230. "Customer" means the applicant named in this Application.
2. 1st Order Terms: The Customer's first order shall be supplied on 25% deposit payable on delivery of shipment, balance 75% strictly within 14 days from the date of tax invoice.
3. Subsequent Orders: All subsequent orders shall be supplied on 25% deposit payable on delivery of shipment, balance 75% strictly within 30 days from the date of tax invoice. No extension of credit is granted.
4. Stop on Overdue: The Supplier reserves the right to refuse to despatch any further goods (whether ordered or in production) while any amount on the Customer's account is overdue, until the overdue balance is cleared at the Supplier's sole discretion.
5. Title & Risk (PPSA): Title in goods supplied does not pass to the Customer until payment in full of all monies owing. Risk passes on despatch. The Customer acknowledges these terms create a Purchase Money Security Interest (PMSI) under the Personal Property Securities Act 2009 (Cth) and consents to the Supplier registering its interest on the PPS Register. The Customer waives its right to receive notices under sections 95, 118, 121(4), 130, 132(3)(d) and 132(4) of the PPSA.
6. Recovery of Goods: Where any payment is overdue, the Customer irrevocably authorises the Supplier (and its agents) to enter the Customer's premises to recover unpaid goods without liability for trespass.
7. Interest & Recovery Costs: Overdue amounts attract interest at 2% per calendar month (compounding) calculated daily. The Customer is liable for all costs of recovery on a full indemnity basis including legal, mercantile and PPSA enforcement costs.
8. No Returns / No Swaps: Stock is supplied on a firm sale basis. No returns, swaps, exchanges or credits will be accepted on stock orders once supplied. Faulty or incorrectly supplied goods must be reported in writing within 7 days of delivery and will be assessed under Australian Consumer Law.
9. Australian Consumer Law: Nothing in these terms excludes, restricts or modifies any consumer guarantee, right or remedy conferred by the Australian Consumer Law (Schedule 2, Competition and Consumer Act 2010 (Cth)) which cannot be lawfully excluded.
10. Pricing & GST: All prices are exclusive of GST unless stated otherwise. Prices may change without notice; orders will be invoiced at prices in effect on the date of order acceptance.
11. Delivery: Delivery dates are estimates only. The Supplier is not liable for any delay beyond its reasonable control.
12. Personal Guarantee: Where the Customer is a company, trust or partnership, each director/proprietor signing this Application personally and jointly and severally guarantees the due payment of all monies owing and indemnifies the Supplier against all loss arising from default.
13. Privacy & Credit Reporting: The Customer consents to the Supplier collecting, holding and using personal information in accordance with the Privacy Act 1988 (Cth), the Australian Privacy Principles and the Privacy (Credit Reporting) Code, including obtaining a consumer or commercial credit report from a credit reporting body and exchanging credit information with trade references and other credit providers.
14. Variation: The Supplier may vary credit limits or terms at any time on written notice. The Customer must notify the Supplier in writing within 14 days of any change in ownership, structure, address or trading status.
15. Set-Off: The Customer must pay all amounts owing without set-off, counterclaim or deduction.
16. Governing Law & Jurisdiction: These terms are governed by the laws of New South Wales, Australia. The parties submit to the exclusive jurisdiction of the courts of New South Wales.
17. Entire Agreement: These terms, together with the signed Application, constitute the entire agreement between the parties and supersede all prior representations and agreements.