PUBLIC LIMITED TERMS & CONDITIONS OF TRADE

The goods shall remain the property of Public Limited until paid for in full by the customer.  And that it is expressly agreed and declared that:

1. The title of the goods shall not pass to the customer until payment is made in full.  The customer shall in the meantime take custody of the goods and retain them as the fiduciary agent and bailee of the supplier.
2. The customer may sell the goods to a third party but only as a fiduciary agent of the supplier.  Any right to bind the supplier to any liability to any third party by contract or otherwise is however expressly prohibited. 
3. The customer shall receive all proceeds whether tangible or intangible, direct or indirect of any dealing with such goods in trust for the supplier and will keep such proceeds in a separate account until the liability to the supplier shall have been discharged.
4. The supplier is to have power to appropriate payments to such goods and accounts as it thinks fit not withstanding any appropriation by the customer to the contrary.
5. In the event that the customer uses the goods in some manufacturing or construction process of its own or some third party, then the customer shall hold such part of the proceeds of such as relates to the goods in trust for the supplier.  Such part shall be deemed to be equal in dollar terms the amount payable owing by the customer to the supplier at the time of the receipt of such proceeds.

The supplier shall be permitted to inspect its goods and or the books or records of the customer and shall in the event of breach of this agreement be entitled to enter the customer’s premises to retrieve its goods.

The customer shall at all times from the date of delivery be responsible for the safe custody of the goods and shall keep the goods fully insured at the customer’s expense.

No dispute will be recognised unless notified in writing to the Credit Department of the Supplier prior to the due date for payment. 

Payment is due strictly 20^th of the month following invoice 

Late payments will attract interest of 2.5% per calendar month being charged on the overdue amount.

Stock returned as Dead on Arrival but found to be in working order when checked by Public Limited’s engineers will attract a 10% restocking fee or $50.00 whichever is the greater.

In the event of breach of these terms the customer shall be responsible not only for the amount due but for all Public Limited’s expenses of any kind including its legal costs on a solicitor client basis and any commission or other expense incurred by any debt collection agency retained in the matter.