TERMS AND CONDITIONS OF BUSINESS

1. For the purposes of this agreement the Seller shall be Anchor Industries (Pty) Ltd and the Purchaser shall be any company entering into a contract of Sale or Service with Anchor Industries (Pty) Ltd.
2. Neither party shall have any authority to bind, or to contract in the name of the other, or to create a liability against the other, or to describe itself as partner or agent of, or participant in a joint venture with, the other, in any way. Unless stated in writing, the relationship between the parties shall be that of Seller and Purchaser and each party shall be regarded as an independent contractor.
3. Neither party shall be bound by any express, tacit or implied term, representation, warranty, promise or the like not recorded herein.
4. Notwithstanding the granting of credit facilities to the Purchaser, the Seller shall be entitled at any time, and in their sole discretion to withhold such facilities and require repayment for any account.
5. The Purchaser undertakes to pay the Seller within the period as detailed in the Credit Approval notification or, as at times, specifically detailed on quotations and sales confirmations.
6. The Purchaser shall not be indemnified from making payment on due dates. The delays of which arise from Computer or Electronic Systems failures, on the part of the Purchaser.
7. Should the Purchaser fail to make payment within the required period, they will be liable for interest charges at the maximum allowable rate in terms of the National Credit Act on overdue accounts, as calculated from the due date of the invoice.
8. The Purchaser hereby gives permission for the Seller to approach other parties to obtain credit related information and warrants that these parties have permission to divulge this information.
9. Should it be necessary for the Seller to institute legal proceedings against the Purchaser, the Purchaser consents that the Magistrate’s Court shall have jurisdiction to hear and determine such action.
10. The Purchaser further undertakes to pay all legal costs incurred by the Seller in any proceedings instituted against the Purchaser on an attorney and client scale together with interest on the capital sum at the maximum rate allowed by law from time to time plus collection commission.
11. Should the Purchaser wish to query an invoice, this must be done within 7 days otherwise the invoice will be deemed correct and payable.
12. Goods will not be received for credit, by the Seller, after 21 days from the date of delivery, unless agreement is made in writing by the Seller.
13. All goods returned will be subject to handling charges, unless expressly agreed not to by the Seller.
14. Ownership in and to the goods remains with the Seller until such a time as the full outstanding amount for the goods has been received from the Purchaser.
15. It is understood that the Seller shall not be held liable for any discrepancy of the goods shipped due to causes which an Insurance company, Shipping company, other transport organisations or Post Office are liable.
16. The Seller shall not be held liable for failure or delay in delivery of the entire lot or a portion of the goods under the Sales Confirmation in consequence of any Force Majeure incidents.
17. In providing services, information or advice neither the Seller nor any of its officers, employees or agents warrants the accuracy of any information or advice supplied and shall not be held liable for any loss, damage or expenses whatsoever sustained by any person due to any act, omission or error of whatsoever nature and howsoever caused in any information or advice given in any way, even if held to amount to a breach of warranty.
    

• Credit Application