The terms of account credit are strictly thirty (30) days (or such other period as dual agreed by Akcome and Applicant from the date of invoice issued and payment is due and payable on that date. Akcome Energy Australia Pty Ltd (ABN 88 169 607 756) and its related bodies corporate Akcome Power Pty Ltd (ABN 92 601 425 530) (herein referred to as "Akcome") may, at any time, upon the provision of 48 hours’ written notice to the Applicant, vary the terms and conditions of trade.
If the Applicant does not agree with the variations proposed by Akcome, they must notify Akcome in writing within fourteen (14) days from receipt of the written notice that the variations are not agreed to. Akcome and/or the Applicant will then be at liberty to suspend/withdraw credit facilities if no agreement can be reached between the parties regarding the proposed variations. Absent notice from the Applicant, the varied terms and conditions of trade may be deemed accepted. Clerical errors (such as spelling mistakes or grammatical errors) may be subject to correction without notification.
The Applicant must check all invoices and advise Akcome of any errors or omissions within seven (7) days of receipt. Failing advice from the Applicant that the invoice contains any errors or omissions, the invoice may be deemed accepted by Akcome.
Should the Applicant not pay for the goods or services supplied by Akcome in accordance with the credit terms as provided herein, or as agreed in writing by Akcome and Applicant from time to time, after issuing a written demand to the Applicant demanding payment within fourteen (14) days, Akcome will be entitled to charge an administration fee of 10 percent of the amount of the invoice payable per year, or part thereof, from the day when Akcome’s invoice was payable until payment by the Applicant.
Unless previously withdrawn by written notice to the Applicant, Akcome’s quotations are open for acceptance within the period stated in them or, when no period is stated, within 30 days only after its date.
Akcome reserves the right to refuse any order based on a quotation within seven days after the receipt of the order, by provision of written reasons to the Applicant.
Only payment by direct deposit, MasterCard, Visa, cheque or money order will be accepted by Akcome, unless otherwise agreed.
If any cheque, credit card or other form of payment issued by the Applicant or by any third party in payment for goods is dishonoured, Akcome:
(a) may reasonably refuse to supply any further goods (whether or not Akcome is to make any further deliveries of goods) until satisfactory payment is received in full; and
(b) may treat the dishonour of the Applicant’s payment as a repudiation of this application for commercial credit and to elect between terminating the contract or affirming it, upon the provision of written 48 hours’ notice to the Applicant providing an opportunity to remedy the breach. Akcome may claim its reasonable costs as result of any loss and damage caused by the repudiation.
The Applicant acknowledges and agrees that this agreement shall be governed by state laws and the laws of the Commonwealth of Australia which are in force in all states.
The Applicant acknowledges and agrees that any contract for the supply of goods or services between Akcome and the Applicant is formed at the address of Akcome.
The parties to this agreement submit to the non-exclusive jurisdiction of the state courts and the relevant federal courts and courts competent to hear appeals from those courts.
The Applicant charges in favour of Akcome all of its estate and interest in any real property that the Applicant owns at present and in the future with the amount of its indebtedness hereunder until discharged.
The Applicant charges in favour of Akcome all of its estate and interest in any personal property that the Applicant owns at present and in the future with the amount of its indebtedness hereunder until discharged.
The Applicant appoints as its duly constituted attorney Akcome's company secretary from time to time to execute in the Applicant's name and as the Applicant's act and deed any real property mortgage, bill of sale or consent to any caveat Akcome may choose to lodge against real property that the Applicant may own in any Land Titles Office in any state or territory of Australia, even though the Applicant may not have defaulted in carrying out its obligations hereunder, upon written notice and demand to the Applicant (in the event that there is no default by the Applicant in carrying out its obligations hereunder).
Where the Applicant has previously entered into an agreement with Akcome by which the Applicant has granted a charge, mortgage or other security interest (including a security interest as defined in the Personal Properties and Securities Act 2009 (PPSA)) over real or personal property, those charges, mortgages or other security interests will continue and co-exist with the obligations and security interests created in this agreement. Akcome may, at its election and upon the provision of written notice vary the terms of such previous charges, mortgages and other securities to reflect the terms there in.
The Applicant acknowledges and agrees that the credit to be provided to the Applicant by Akcome is to be applied wholly or predominantly for commercial purposes.
Quotations made by Akcome shall not be construed as an offer or obligation to supply in accordance with the quotation. Akcome reserves the right to accept or reject, at its discretion, any offer to purchase received by it upon provision of written reasons to the Applicant. Only written acceptance by Akcome of the Applicant’s offer shall complete a contract.
Placement of an order, either verbally or in writing, shall imply acceptance of Akcome’s offer and of these terms and conditions.
The cost of any special packing or materials used in relation to the goods are at the Applicant’s expense.
The descriptions, illustrations and performances contained in Akcome’s catalogues, price lists and other advertising material do not form part of any contract of sale of the goods or of the description applied to the goods.
Where formulae are supplied by the Applicant:
(a) the Applicant is fully responsible for the accuracy and detail of the formulae, and Akcome will not be responsible for any loss or damage suffered by the Applicant in respect of goods supplied and based on the Applicant’s formulae which are either unsuitable or unusable for any reason, or are not of sufficient quantities for the Applicant’s intended use or purpose;
(b) Akcome may refuse any order where, in its reasonable opinion, the Applicant has failed to provide sufficient detail in the formulae to enable Akcome to provide the requested goods;
(c) the Applicant warrants its formulae do not infringe any copyright or other intellectual property of any third party, and the Applicant hereby indemnifies Akcome against any costs suffered by or claims or proceedings made against Akcome arising from its use of the formulae supplied by the Applicant;
(d) Akcome’s price is made on estimates of quantities required based on the formulae. If there are any adjustments to the formulae by the Applicant that results in a change of quantities above or below the quantities estimated by Akcome and set out in a quotation, then any such increase or decrease are to be adjusted on a unit rate basis according to Akcome’s then prevailing price list;
(e) notwithstanding anything else contained in these terms and conditions, Akcome will not be under any obligation to accept any changes to the formulae once it has placed an order for any special materials that may be required to fulfil an order or manufacture of the goods has commenced; and
(f) no error or mis-description by the Applicant will vitiate the contract between Akcome and the Applicant for the supply of goods, and the Applicant will be bound to take the goods ordered and pay for them without deduction or set-off of any kind (unless agreed to by Akcome and Applicant in writing).
Any performance values or specifications given by Akcome are estimates only and Akcome will reasonably endeavour to ensure any performance values or specifications given by Akcome are correct. Akcome is under no liability for damages for failure of the goods to attain such values or meet such specifications unless specifically guaranteed in writing. Any such written guarantee is subject to the recognised tolerances applicable to such values or specifications.
The delivery times made known to the Applicant are estimates only and Akcome is not liable for late delivery or non-delivery. Time will not be of the essence for this credit application and any delay in delivery will not constitute grounds for cancellation of this contract by the Applicant.
In the absence of specific instructions from the Applicant, Akcome will select the point of shipping it considers to be reasonable. For all domestic orders with a net value exceeding $2,500, one shipment will be provided FIS (Sydney, Melbourne, Brisbane and Perth) by Akcome’s nominated carrier unless otherwise arranged. Further, for goods shipped using this method, unless otherwise specified by the Applicant prior to agreement, Akcome will insure the goods against loss or damage in transit.
Where the Applicant requires an alternate carrier, or where goods are shipped on a ‘freight charges collect’ basis, all responsibility for goods during transit passes to the Applicant immediately upon receipt of the goods by the nominated carrier.
Individual freight arrangements will need to be made for the shipment of dangerous goods. The FIS incentive mentioned in clause 28 does not apply in these circumstances.
Akcome may, by written agreement with the Applicant, deliver the goods to the Applicant in any number of instalments.
If Akcome delivers any of the goods by instalments, and any one of those instalments is defective for any reason:
(a)it is not a repudiation of any contract of sale formed by these conditions; and
(b)the defective instalment is a severable breach that gives rise only to a claim for compensation.
The Applicant is responsible for providing adequate facilities for unloading of the goods at the place specified by the Applicant.
Akcome is not liable for any loss, damage or delay occasioned by the Applicant or its customers arising from late or non-delivery or late installation of the goods.
Akcome is not responsible to the Applicant or any person claiming through the Applicant for any loss or damage to goods in transit caused by any event of any kind by any person (whether or not Akcome is legally responsible for the person who caused or contributed to that loss or damage).
Akcome must provide the Applicant with such assistance as may be necessary to press claims on carriers so long as the Applicant:
(a)has notified Akcome and the carriers in writing within 24 hours after loss or damage is discovered on receipt of goods; and
(b)lodges a claim for compensation on the carrier within five (5) business days of the date of receipt of the goods.
Title in the goods does not pass to the Applicant until the Applicant has made payment in full for the goods and, further, until the Applicant has made payment in full of all the other money owing by the Applicant to Akcome (whether in respect of money payable under a specific contract or on any other account whatsoever).
Whilst the Applicant has not paid for the goods supplied in full at any time, the Applicant agrees that property and title in the goods shall not pass to the Applicant and Akcome retains the legal and equitable title in those goods supplied and not yet sold.
Until payment in full has been made to Akcome, the Applicant will hold the goods in a fiduciary capacity for Akcome and agrees to store the goods in such a manner that they can be identified as the property of Akcome, and shall not mix the goods with other similar goods.
The Applicant shall be entitled to sell the goods in the ordinary course of its business, but until full payment for the goods has been made to Akcome, the Applicant shall sell as agent and bailee for Akcome and the proceeds of sale of the goods shall be held by the Applicant on trust for Akcome absolutely.
The Applicant’s indebtedness to Akcome, whether in full or in part, shall not be discharged by the operation of clause 40 hereof unless and until the funds held on trust are remitted to Akcome.
The Applicant agrees that whilst property and title in the goods remains with Akcome, Akcome has the right, with prior notice to the Applicant, to enter upon any premises occupied by the Applicant (or any receiver, receiver and manager, administrator, liquidator or trustee in bankruptcy of the Applicant) to inspect the goods of Akcome and to repossess the goods which may be in the Applicant’s possession, custody or control when payment is overdue.
The Applicant will be responsible for Akcome’s reasonable costs and expenses in exercising its rights under clause 42. Where Akcome exercises any power to enter the premises, that entry will not give rise to any action of trespass or similar action on the part of the Applicant against Akcome, its employees, servants or agents.
The Applicant agrees that where the goods have been retaken into the possession of Akcome, Akcome has the absolute right to sell or deal with the goods upon reasonable notice to the Applicant, and if necessary, sell the goods with the trademark or name of the Applicant on those goods, and the Applicant hereby grants an irrevocable licence to Akcome to do all things necessary to sell the goods bearing the name or trademark of the Applicant.
For the avoidance of doubt, Akcome’s interest constitutes a ‘purchase money security interest’ pursuant to the PPSA.
The Applicant is fully responsible for determining the suitability and fitness for purpose of goods ordered and Akcome, to the extent allowable at law, makes no warranties as to suitability or fitness for purpose of goods unless specifically warranted in writing.
Akcome reserves the right to make a reasonable charge for storage if:
(a)the Applicant notifies Akcome that it is unable to take delivery of the goods at the initial delivery time, whereupon Akcome will be entitled to charge storage fees to the Applicant in respect of the goods held for delivery by Akcome from the initial delivery date to the date of actual delivery at normal commercial rates prevailing at that time; or
(b)delivery instructions are not provided by the Applicant within seven (7) days of a request by Akcome for such instructions, whereupon Akcome may charge for storage from the seventh day after Akcome requests the Applicant to provide delivery instructions.
Akcome is not under any duty to accept goods returned by the Applicant, and will do so only on terms to be agreed in writing in each individual case.
If Akcome agrees to accept returned goods from the Applicant under clause 48, Akcome will be entitled to charge a restock fee of 10% of the purchase price of the goods.
If Akcome agrees to accept returned goods from the Applicant under clause 48,the Applicant must, at its cost, return the goods to Akcome at Akcome’s place of business.
Non-standard equipment made to special order cannot be credited under any circumstances. Inward freight, packing and delivery charges are the responsibility of the Applicant.
Unless otherwise agreed, goods returned under clause 48 may be subject to a restock fee. All goods with a net value in excess of $200 may be subject to a restock fee of 10 percent of the purchase price of the goods.
Goods returned must be accompanied by a delivery docket stating the original invoice number, date of purchase and reason for return.
No order may be cancelled or changed except with consent in writing and on terms that will indemnify Akcome against all liabilities, expenses and loss suffered by it, either directly or indirectly, as a result of, or in connection with, the said cancellation or changes.
Akcome reserves the right to withdraw credit at any time upon provision of 48hours’ written notice to the Applicant.
Upon cancellation without notice all liabilities incurred by the Applicant become due and payable to Akcome within seven (7) days.
The Applicant agrees to indemnify Akcome and keep Akcome indemnified against any claim that arises out of the goods and services supplied under this agreement. This indemnity includes any legal fees and expenses Akcome incurs in order to enforce its rights, on an indemnity basis.
The Applicant undertakes to comply with any reasonable written request by Akcome to provide further information for the purpose of assessing the Applicant’s creditworthiness, including an updated credit application.
If the Applicant is a corporation (with the exception of a public listed company), it must advise Akcome of any alteration to its corporate structure (for example, by changing directors, shareholders, or its constitution). In the case of a change of directors or shareholders Akcome may ask for new guarantors to sign a guarantee and indemnity.
If the Applicant is a corporation, the Applicant warrants that all of its directors have signed this agreement and that all of its directors may be required to enter into a guarantee and indemnity with Akcome in relation to the Applicant's obligations to Akcome.
If the Applicant is the trustee of a trust (whether disclosed to Akcome or not),the Applicant warrants to Akcome that:
(a) the Applicant enters into this agreement in both its capacity as trustee and in its personal capacity;
(b) the Applicant has the right to be indemnified out of trust assets;
(c) the Applicant has the power under the trust deed to sign this agreement; and
(d) the Applicant will not retire as trustee of the trust or appoint any new or additional trustee without advising Akcome.
The Applicant must give Akcome a copy of the trust deed upon request.
If the Applicant enters into this agreement as partners, the Applicant warrants that all of the partners have signed this agreement and that all of the partners may be required to enter into a guarantee and indemnity with Akcome in relation to the Applicant's obligations to Akcome.
If the Applicant is a partnership, it must not alter its partnership (for example, adding or removing partners or altering its partnership agreement) without advising Akcome. In the case of a change of partners, Akcome may ask for new guarantors to sign a guarantee and indemnity.
If the Applicant becomes insolvent, the Applicant remains liable under this agreement for payment of all liabilities incurred hereunder. The Applicant remains liable under this agreement even if Akcome receives a dividend or payment as a result of the Applicant being insolvent.
A waiver of any provision or breach of this agreement by Akcome must be made by an authorised officer of Akcome in writing. A waiver of any provision or breach of this agreement by the Applicant must be made by the Applicant's authorised officer in writing.
Until ownership of the goods passes, the Applicant waives its rights it would otherwise have under the PPSA (unless otherwise agreed to in writing by Akcome and the Applicant):
(a) under section 95 to receive notice of intention to remove an accession;
(b) under section 118 to receive notice that Akcome intends to enforce its security interest in accordance with land law;
(c) under section 121(4) to receive a notice of enforcement action against liquid assets;
(d) under section 129 to receive a notice of disposal of goods by Akcome purchasing the goods;
(e) under section 130 to receive a notice to dispose of goods;
(f) under section 132(2) to receive a statement of account following disposal of goods;
(g) under section 132(4) to receive a statement of account if no disposal of goods for each 6 month period;
(h) under section 135 to receive notice of any proposal of Akcome to retain goods;
(i) under section 137(2) to object to any proposal of Akcome to retain or dispose of goods;
(j) under section 142 to redeem the goods;
(k) under section 143 to reinstate the security agreement; and
(l) under section 157(1) and 157(3) to receive a notice of any verification statement.
The Applicant must pay for its own legal, accounting and business costs and all costs incurred by Akcome relating to any default by the Applicant under this agreement. The Applicant must also pay for all stamp duty and other taxes payable on this agreement (if any).
The Applicant will pay Akcome’s reasonable costs and disbursements incurred in pursuing any recovery action, or any other claim or remedy, against the Applicant, including debt recovery fees and legal costs on an indemnity basis as a result of any default under this agreement.
The Applicant acknowledges and agrees that payments by the Applicant will be applied by Akcome as follows.
(a) Firstly, in payment of any and all collection costs and legal costs in accordance with clauses 43 and 69.
(b) Secondly, in payment of any interest incurred in accordance with clause 76.
(c) Thirdly, in payment of the outstanding invoice(s).
In circumstances where Akcome seeks to enforce a purchase money security interest under the PPSA over collateral or proceeds (these terms being consistent with the terms defined in the PPSA), payments received from the Applicant will be allocated in a manner at Akcomes absolute and unfettered discretion, so as to attribute, to the greatest extent possible, the unpaid balance of the debt to the purchase money obligation in respect of the collateral and/or proceeds over which Akcome seeks to enforce its purchase money security interest.
To the extent that payments have been allocated to invoices by Akcome in its business records, Akcome may, in its sole and unfettered discretion, allocate and/or retrospectively reallocate payments in any manner whatsoever at any time whatsoever.
Payments allocated (and/or reallocated) under clause 71 and/or 72 will be treated as though they were allocated or reallocated, respectively, in the manner determined by Akcome on the date of receipt of payment.
The Applicant must pay GST on any taxable supply made by Akcome to the Applicant under this agreement. The payment of GST is in addition to any other consideration payable by the Applicant for a taxable supply.
If as a result of:
(a) any legislation becoming applicable to the subject matter of this agreement; or
(b) any changes in legislation or its interpretation by a court of competent jurisdiction or by any authority charged with its administration;
Akcome becomes liable to pay any tax, duty, excise or levy in respect of the amounts received from the Applicant, then the Applicant must pay Akcome these additional amounts on 48 hours’ written demand.
The interest rate on any outstanding debts is a fixed rate of 15 percent per annum.
All payments required to be made by the Applicant under this agreement will be made free of any set-off, or counterclaim and without deduction or withholding, unless agreed to otherwise by Akcome and the Applicant in writing.
Any amount due to Akcome from time to time may be deducted from any monies which may be or may become payable to the Applicant by Akcome.
Akcome is not liable for any loss caused to the Applicant by reason of strikes, lockouts, fires, riots, war, embargoes, civil commotions, acts of God or any other activity beyond Akcome's control.
In relation to the supply of goods, Akcome’s liability is limited to:
(a) replacing the goods or supplying similar goods;
(b) repairing the goods;
(c) providing the cost for replacing the goods or for acquiring equivalent goods; and
(d) providing the cost for having the goods repaired.
In relation to the supply of services, Akcome’s liability is limited to:
(a) supplying the service again; or
(b) providing for the cost of having the services supplied again.
Akcome is not liable, whether claims are made or not, for loss of profit, economic or financial loss, damages, consequential loss, loss of opportunity or benefit, loss of a right or any other indirect loss suffered by the Applicant as a result of the goods and/or services supplied under this agreement.
The Applicant will, at the request of Akcome, execute documents and do such further acts as may be required for Akcome to register the security interest granted by the Applicant under the PPSA.
The Applicant agrees to accept service of any document required to be served, including any notice under this agreement or the PPSA or any originating process, by prepaid post at any address nominated in this application or any other address later notified to Akcome by the Applicant or the Applicant’s authorised representative.
The Applicant further agrees that where we have rights in addition to those underpart 4 of the PPSA, those rights will continue to apply.
The Applicant irrevocably grants to Akcome the right to enter upon the Applicant’s property or premises, with notice, and without being in any way liable to the Applicant or to any third party, if Akcome has cause to exercise any of their rights under sections 123 and/or 128 of the PPSA, and the Applicant shall indemnify Akcome from any claims made by any third party as a result of such exercise.
Nothing in this agreement shall be read or applied so as to purport to exclude, restrict or modify or have the effect of excluding, restricting or modifying the application in relation to the supply of any goods and/or services pursuant to this agreement of all or any of the provisions the Competition and Consumer Act 2010or any relevant State or Federal Legislation which by law cannot be excluded, restricted or modified.
If any provision of this agreement is not enforceable in accordance with its terms, other provisions which are self-sustaining are, and continue to be, enforceable in accordance with their terms.
If any part of this agreement is invalid or unenforceable, that part is deleted and the remainder of the agreement remains effective.
The Applicant agrees that these terms and conditions may be varied, added to, or amended by an authorised officer of Akcome at any time by written notice to the Applicant. The Applicant will be provided with fourteen (14) days to accept the variation/s, failing which the variations may be deemed accepted by Akcome. Any reasonable requests to vary the terms will be considered by Akcome.
Any proposed variation to these terms and conditions by the Applicant must be requested in writing. Akcome may refuse any such request by provision of written reasons.
Variations requested by the Applicant will only be binding upon Akcome if they are accepted in writing.
The Applicant hereby consents to Akcome recording the details of this Agreement on the Personal Property Securities Register and agrees to do all things necessary and reasonably required by Akcome to effect such registration.
Unless other agreed to in writing by Akcome, the Applicant waives any right or entitlement to receive notice of the registration of any security interest(s) created by this instrument on the Personal Property Securities Register.
This agreement constitutes the entire agreement between the parties relating in anyway to its subject matter, unless agreed to otherwise by Akcome and the Applicant in writing. All previous negotiations, understandings, representations, warranties, memoranda or commitments about the subject matter of this agreement are merged in this agreement and are of no further effect. No oral explanation or information provided by a party to another affects the meaning or interpretation of this agreement or constitutes any collateral agreement, warranty or understanding.
In circumstances where there is a pre-existing written credit agreement (Original Agreement) between the Applicant and Akcome, these terms and this agreement will constitute a variation of the Original Agreement whereby the terms of the Original Agreement are deleted and replaced with the terms herein.
The Applicant agrees to the terms of the Privacy Act 1988 authorisation contained in this document.
PRIVACY ACT 1988 AUTHORISATION
To enable Akcome to assess the credit application or to review any existing credit, the Applicant and Guarantors authorise Akcome to obtain:
The Applicant authorises Akcome to provide certain personal information about the Applicant under section 18E(8)(c) of the Privacy Act 1988. The information which may be given to an agency is covered by section 18E(1) of the Privacy Act 1988 and includes:
In accordance with section 18N(1)(b) of the Privacy Act 1988, the Applicant authorises Akcome to give and obtain from credit providers named in this credit application and credit providers that may be named in a credit report issued by a credit reporting agency information about the Applicant's credit arrangement. The Applicant acknowledges that the information can include any information about the Applicant’s credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act 1988.TERMS AND CONDITIONS