Prices quoted are nett. Accounts are due for payment not later than 30 days following the date of our invoice. The company reserves the right to charge interest for each day an account is overdue for payment without further notice at the rate of 22% per annum above Bank of England base rate.
PROPERTY
(A) Notwithstanding that the customer obtains possession of the goods, the property in the goods will remain in the company until such time as the company has received payment from the customer of the full price to be paid for the goods together with any interest charged by the company under these terms and conditions of sale. Until that time:
i.) The customer will hold the goods on trust for the company, except such of the goods as have been sold to a third party by way of Bona Fide sale(s) in the ordinary course of business in the event of which sale(s) so much of the proceeds of sale as equals the amount of the purchase price of the goods due or to become due to the company hereunder, shall likewise be held by the customer on trust for the company.
ii.) Without prejudice to the provisions of sub clause (i) Hereof the customer shall not sell the goods at a price less than the price at which the customer may purchase them hereunder, or dispose of them otherwise than by sale without the company's prior to consent to such sale or disposal.
(iii) In the event that:
(a) On the expiry of any credit period the company shall not have received payment in full for any goods supplied hereunder or
(b) A receiver is appointed over the whole or any part of the assets of the customer or
(c) A resolution is passed or a petition is presented for liquidation of the customer or
(d) The customer commits an act of bankruptcy. The company shall except to the extent that the goods shall have been sold to a third party in the manner referred to in sub clause
(i) Above or with the consent referred to in sub clause
(ii) Above be entitled to require the customer at the customers own expense to return the goods immediately to the company and should the customer fail to do so, the company is irrevocably authorised by the customer without notice to enter the premises of the customer for the purpose of so collecting and removing the goods and if appropriate, dismantling any other object(s) and/or product(s) into which the goods or any of them have been incorporated for the purposes of so collecting and removing the goods, and the customer shall be responsible for all the company's cost and expenses in connection with so doing and.
(iv) In the event of the goods or any of them being mixed, blended or incorporated by the customer so as to make such goods a constituent part of any other object(s), substance(s) or products in such a way that the goods are not identifiable then the property of other such object(s), substance(s) or products shall like wise pass to and remain vested in the company and the customer shall hold the same (And the proceeds of sale thereof) on trust for the company.
(B) The company may at any time, not withstanding that payment in full has not been received for the goods, by notice in writing to the customer waive its reservation or title to all or any parts of the goods and the whole right time and interest legal and equitable of the company in and such goods shall pass to the customer as at the date of such notice.
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