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TERMS AND CONDITIONS
Terms & Conditions
ABSOLUTE CATERING EQUIPMENT LTD (hereafter known as ACE) does business with it's buyers under the terms and conditions set forth herein. ACE hereby rejects any terms and conditions contained in any buyer purchase order or other business forms or in correspondence or elsewhere implied by trade, custom, practice or course of dealing unless specifically included or varied in writing by a director or other authorised representative of ACE which are different from or in addition to the terms stated herein.
"Buyer" means the person or company whose order for the goods is accepted by ACE. "Goods" means the goods (including any instalment of the goods or any parts for them) which ACE is to supply in accordance with these conditions. Any reference in these terms and conditions to singular includes plural.
1 ACCEPTANCE OF ORDERS
All orders are subject to the approval of ACE
2 GENERAL TERMS OF PAYMENT & FINANCIAL REQUIREMENT
a) Terms are nett 30 days from the date of the invoice for Buyers to whom ACE extends credit, except where otherwise agreed in writing by ACE. ACE reserved the rights from time to time at its discretion to allow a settlement discount for early payment only when expressly stated. Time of payment shall be the essence of all contracts between ACE and Buyer to which these Terms and Conditions apply.
b) A LATE CHARGE OF THREE (3%) PERCENT OVER BASE RATE WILL BE IMPOSED ON ANY PORTION OF AN ACCOUNT NOT PAID WITHIN THE TERMS STATED ON THE INVOICE at the discretion of ACE. However, if this rate exceeds the maximum rate permitted under applicable laws or regulations, the rate shall be reduced to the maximum allowable rate.
c) ACEmay offer special payment and/or shipment terms. In such event these special terms shall supersede the general terms payment and/or shipment, provided that such special terms are fully stated in a ACE invoice, signed by an authorised representative of ACE and such invoice is accepted by ACE.
d) If a Buyer shall commit any material breech of it's obligations hereunder or shall commit an act of bankruptcy
or (being a corporation) shall go into liquidation other than for the purpose of reconstruction or amalgamation or shall suffer the appointment of a receiver nor any of his or its property or make a deed of arrangement with or composition for the benefit of any of his or its creditors, or if in the opinion of ACE, Buyers credit becomes impaired, ACE shall have the following rights and remedies in addition to any other rights and remedies provided by application of law.
e)Title of Goods
Goods supplied by ACE remain the property of ACE until
payment in full is received by ACE.
i. All sums shall become immediately due and payable, notwithstanding any credit terms previously in effect.
ii. ACE may refuse any order placed by the Buyer.
iii. ACE may cancel any accepted orders or delay shipping