Terms of Trade

TERMS OF TRADE
DISPLAYPRO LIMITED
 
The following terms of trade apply:
1.  PRICING
The price for the goods shall be the current retail price charged by us at the date of delivery unless otherwise agreed in writing.
 
2.  PAYMENT TERMS
Terms of payment are nett cash by the 20^th of the month following the invoice date, unless otherwise arranged in advance and confirmed in writing by DisplayPro Limited.
We reserve the right to require either security or payment in advance before delivery of any particular order.
 
3. INTEREST AND LEGAL EXPENSES
If you fail to make a payment due to us by the due date therefore you shall be liable to pay us:
(a) default interest on the amount outstanding calculated at the ANZ Bank Indicator Lending Rate plus 5% from the due date until payment which interest shall accrue on a daily basis and shall accrue after as well as before judgement.
(b) all our expenses and legal costs (calculated as between solicitor and own client) in relation to proceedings or steps taken by us arising from your failure to pay.
 
4.  OWNERSHIP
Ownership of the goods is retained by us until payment in full for the goods supplied by us to us.  Until full payment of all moneys due by you to us, you shall hold the goods for us as a fiduciary owner.  Not withstanding any period of credit allowed by us.  If any of the goods supplied to you are sold or otherwise used by you prior to payment therefore to us, then the proceeds of the sale there of shall be kept separate and shall be our property.
Upon default in any payment due by you to us or, either before or after any period of the credit expires, upon you becoming insolvent or having a receiver appointed or going into liquidation, we may enter upon the premises where the goods are kept and recover possession of the goods and resell the same,  So long as you hold the goods as fiduciary owner you are entitled to sell the goods to third parties in the ordinary course of your business on condition that you hold claims you have against such third parties.
 
5.  DELIVERY
Delivery shall be deemed to be completed upon receipt of the goods by the customer or on arrival at the location specified by the customer.  The company shall not be responsible for any failure in delivery caused by and Act of God, war, strike, industrial stoppage, or unrest, fire, earthquake, shortage of suitable labour or material, unavailability of or delay in transportation, Government Act or any other event beyond the Company’s control.
 
6.  RISK
Notwithstanding that ownership in the goods may remain with us all risk in respect of goods supplied shall pass to the next customer upon delivery.
 
7.  EXEMPTION FROM LIABILITY
We shall not be liable for:
(a) any claim for damage to or faults or shortages in goods not notified within 7 days of invoice.
(b) loss caused by any factor beyond our control.
(c) failure to deliver the goods by any specified dates.
(d) loss consequential to any of the above
Our liability for defective or damage goods and loss caused thereby is limited at our option to either:
(1) replacing the defective or damaged goods; or
(2) refunding the price of the defective or damaged goods rejected.