Accounts are due for payment no later than Thirty (30) days from the date of invoice.
Retention of Title:
a. The title to, ownership of and property in the goods shall remain vested in the seller (notwithstanding the delivery of the same and the passing of the risk therein to the buyer) until payment in full for all the goods comprising in this and every other contract between the seller and the buyer has been received by the seller in accordance with the terms of this and any such other contract.
b. If such a payment is overdue in whole or in part the seller may (without prejudice to any of its other rights) recover or re-sell the goods or any of them and may enter upon the Buyer’s premises by its servants or agents for that purpose. Such payments shall become due immediately upon the commencement of any act or proceedings in which the buyer’s solvency is involved.
c. If the seller so requires the buyer shall store the goods for the seller without charge to the seller without charge to the seller separately for any goods which are the property of the buyer or any third party and shall ensure that they are clearly marked and identified as belonging to the seller.
d. Nothing in this clause shall entitle the buyer to return the goods unless requested to do so by the seller or without a valid order number.
e. The risk of any loss or damage to or deterioration of the goods from whatever cause arising shall be borne and be the responsibility of the buyer from the time of arrival of the goods at their premises.
f. The buyer is hereby authorised to sell the goods in the ordinary course of its business as Agent of and for the account of the seller and to pass good title in the goods to the buyer’s customers but the seller shall be entitled by notice in writing to the buyer to revoke such authority at any given time when there is default by the buyer in paying to the seller any sums owed by the buyer to it under the terms of this contract on the due date for payment.
g. The rights and the remedies conferred upon the seller by this clause are in addition to and shall not in any way prejudice, limit or restrict any other rights or remedies of the seller under this or any other contract. No failure or forbearance on the part of the seller to enforce strict compliance by the buyer with the provisions of this clause shall constitute a waiver of any such provisions and the seller shall at all times be entitled to require the buyer to comply strictly with such provisions and to make good any failure on its part to do so. Any termination of this or any other contract whether by the act of the parties there to or by operation of law shall not prejudice, limit or extinguish the seller’s rights under this clause.