TERMS & CONDITIONS
Payment of Accounts
Unless otherwise specified on your Credit Application;
(a) All payment terms are strictly 30 days from statement date.
(b) In the case of the first transaction payment is required on pro-forma invoice whilst the Credit Application is being processed for approval.
(c) Payment can be made as a direct deposit and/or credit cards. Payments are restricted to Visa & MasterCard only. No additional fees are charged for credit card payments.
(d) Non-payment of account within the 30 day period results in an automatic suspension of the trading account. Further orders will not be released until the account is paid in full.
(e) Property of the goods shall not pass to the buyer unless and until the total invoice price has been paid, but the goods shall be at the risk of the buyer from the time of delivery.
Minimum Order Value
A minimum order value of $500 applies to all deliveries. Under certain circumstances will be waived however A surcharge will be applicable to all orders under the minimum order value. An additional $25 for handling and a delivery fee will apply.
Licensing Essentials does not retain back orders on Applicant accounts. All items that cannot be supplied at the time of invoice will be deleted from the sales order.
Pricing is subject to change without notice.
Returns & Credits
Any goods purchased by the Applicant from Licensing Essentials may only be returned to us where notification of the proposed return of the Goods is received within seven (7) days of the date of delivery of the Goods, and if the goods are either faulty or in a re-saleable condition. Returns will not be accepted without prior authorisation by Licensing Essentials, which will be given in the form of a Return Authority number.
Passing of Property and Risk
1. (i) Notwithstanding any other clause contained herein the full legal and equitable title in the goods shall be retained by Licensing Essentials or its lawful successors in title (hereafter referred to as “the company”) and will only be transferred when the buyer’s indebtedness to the company or its lawful agents for the purpose under his agreement, together with any GST or interest payable is fully discharged.
(ii) Until the moment of receipt of full payment of all of the buyer’s indebtedness as referred to in paragraph (1(i)) herein the buyer shall keep the goods for and on behalf of the company.
2. Notwithstanding any other clause contained herein the risk in all goods shall pass to the buyer immediately upon delivery and all goods must be paid for notwithstanding the destruction thereof or any damage thereto however caused.
3. The Buyer shall ensure that the goods are stored in such a way that they are clearly identifiable as the property of the company and are not intermingled with the property of the buyer or any other person. The buyer shall not in any way alter or treat the goods so as to change their quality or nature in any way until such time as full payment has been made as aforesaid and further shall ensure that the goods remain clearly marked as the company’s property.
4. Payment of the amounts owed by the buyer to the company under this agreement shall be deemed to have been made when cash has been received or cheques for the price and all other monies owing under this agreement have been met and honoured in full.
5. (i) The company authorises the buyer to sell the goods as the company’s fiduciary agent for the account of the company only. The proceeds of sale are the property of the company and the buyer shall hold such proceeds for and on behalf of the company in fiduciary capacity. The buyer shall keep separate records as to the goods sold and as to the amount(s) received.
(ii) While the company retains full legal and equitable title in the goods the buyer shall not bail, pledge, mortgage, charge, grant a lien over, lease or assign the goods by any other way of security. Only sales pursuant to paragraph 5(i) hereof are permitted.
(iii) Notwithstanding any period of credit allowed in the company’s terms and conditions of sale, the buyer shall account to the company for the purchase price of the goods (or such part thereof as represents the goods on-sold) as soon as the goods (or any of them) are on-sold by the purchaser and the proceeds of such sale are received by the purchaser.
6. The buyer shall notify the company in writing of any intended sale of the buyer’s business which includes or purports to include the goods as part of the buyer stock.
7. In the event of the buyer failing to pay for the goods pursuant to this agreement of the determination or repudiation of the contract (however occurring) the company is hereby irrevocably authorised to enter onto the premises of the buyer and re-possess the goods and any other goods in the buyer’s possession the property in which is vested in the company.