1. IDC Homewares may, in assessing your application for credit or if the application is accepted and subsequently any payment becomes overdue, obtain personal information and seek from a credit reporting agency or other credit provider information about your credit arrangement and your understand that this information may include your credit worthiness, credit history or credit capacity that
the credit providers are allowed to give or receive pursuant to the Privacy Act and Privacy Amendment Act.
2. The applicant(s) must inform IDC Homewares in writing within seven (7) days of any change of his/her/their business or corporate structure.
3. IDC Homewares reserves the absolute right to refuse or withdraw the applicant(s) credit facilities at any time in the event that the applicant is in breach of these terms and conditions.
4. All contracts between IDC Homewares and the Applicant shall be deemed to have been entered into in the State of Victoria and shall be construed according to the Laws of the State of Victoria.
5. IDC Homewares reserves the following rights in relation to any goods provided to the applicant by IDC Homewares, until all accounts owed by the Applicant to IDC Homewares are fully paid:
(1) legal ownership of the goods;
(2) to enter the Applicants premises (or the premises of any associated
company
or agent where the goods are located) without liability for trespass or
any resulting damage and retake possession of the goods; and
(3) to keep or resell any goods repossessed pursuant to (2) above;
If the goods are resold, or products manufactured using the goods are sold, by the Applicant, the Applicant shall hold such part of the proceeds of any such sale as long as it represents the invoice price of the goods sold or used in the manufacture of the goods sold in a separate identifiable account as the beneficial property of the Credit Provider and shall pay such amount to IDC Homewares upon request.Notwithstanding the provisions above IDC Homewares shall be entitled to maintain an action against the Applicant for the purchase price and the risk of the goods shall pass to the Applicant upon delivery.
6. If the account is overdue, IDC Homewares at its discretion, reserves the right to refer the account to a Mercantile Agency for Collection and the applicant will be responsible for meeting all reasonable costs and Commissions incurred in employing the said mercantile agent to collect the overdue account.
7. The terms of payment are STRICTLY NETT CASH 30 days from the date of the invoice, and in the event the account becomes overdue, IDC Homewares reserves the right to charge interest in accordance with the Penalty Interest Rates
Act 1983. |
