TERMS AND CONDITIONS OF SUPPLY
Note: The Credit Account Applicant is hereinafter referred to as the ‘customer’. Bike Torque is hereinafter referred to as the ‘supplier’.

1.Terms of Payment
(i) Full Payment for any and all goods must be made either on or before the 20th of the month following delivery (unless otherwise arranged with the supplier).
(ii) Failure to make payment within seven (7) days of due date shall constitute a breach of these terms and conditions of supply for which the customer shall be liable to compensate the supplier by paying as liquidated damages (in addition to the amount due) interest on the amount due from the due date until the date of payment at a rate approximately 2% above the base lending rate charged by the supplier’s bank.
(iii) Failure to make payment within seven (7) days of due date shall, without prejudice to any of the supplier’s other rights under the terms and conditions of supply, entitle the supplier to alter the customer’s dealer discount status without prior notification to the customer.

2. Risks and PPSA
Risk in any goods supplied by the supplier to the customer shall pass when such goods are delivered to the customer or in the custody on the customer’s behalf. The customer shall provide all reasonable assistance and relevant information to enable the Supplier to register a financing statement in respect of the goods supplied in accordance with the Personal Property Securities Act 1999 (“PSSA”) PRIOR to the delivery of goods to the customer. The customer hereby waives its right to receive a verification statement in respect of any financing statement or financing change statement registered by or on behalf of the supplier in respect of goods supplied. The customer agrees that to the extent permitted by law and in respect of the supply of goods under these terms and conditions the provisions of Part 9 of the PPSA which are for the benefit of the customer, or place obligations on the Supplier as the secured party, shall apply only to the extent they are mandatory or the Supplier agrees in writing to the application.
The customer acknowledges that the Supplier shall be a secured party in respect of the goods supplied under these terms and conditions and shall be entitled to register a financing statement in accordance with the PPSA, which shall be a Purchase Money Security Interest (“PMSI”) as defined in s16 of the PPSA.

3. Remedies
If the customer is in default of payment the supplier may uplift the goods and any goods to which the goods are attached (“mixed goods”) property in which hereby passes to the supplier from the customer’s premises or any other place where the goods (or mixed goods) are stored and the customer hereby authorises the supplier to enter upon such premises at any time to recover the goods or mixed goods, as the case may be.
The supplier may thereafter hold the goods or mixed goods pending payment in full (including liquidated damages) or alternatively, at its discretion, may sell the same but in any event without prejudice to its rights and remedies against the customer for any losses incurred by the supplier in enforcing its rights and remedies under these terms and conditions of supply and in respect of any loss on resale.

4. Recovery Costs
Any recovery of replacement costs incurred in recovering an outstanding account shall be payable by the customer (and/or guarantor).
Any recovery of legal or agency costs incurred in recovering an outstanding account shall be payable by the customer (and/or guarantor).


5. Credits
Credits will not be accepted unless requested in writing within fourteen (14) days of delivery. Any exception will be entirely at the discretion of the supplier. Goods returned for credit must be returned free into the supplier’s premises, all transportation charges, insurance and other charges being borne by the customer. A restocking fee is applicable.

6. Delivery
Delivery will be deemed to have occurred when wither goods are delivered to a site specified by the customer or when goods are surrendered to the customer or any other person at the request of the customer.

7. Stop Credit
The supplier shall retain the right to withdraw at any time any supply of goods and services (including any credit arrangement) or promises to supply goods and services to the customer.

8. Insurance
Upon delivery of goods, except those goods held at the suppliers premises at the request of the customer, the customer shall be responsible for taking out adequate insurance cover in respect of the goods regardless of whether the goods are on credit account or loan or demonstration purposes.
The customer must carry adequate insurance cover for the recovery of demonstration units in the event of theft, fire or other mishap.

9. Guarantees and Conditions
(i) Except as provided in clause 9 (ii), no warranty or condition shall be implied against the supplier by Statute, Common Law or otherwise and no representation or express condition or warranty shall be binding on the supplier unless it is in writing and signed for or on behalf of the supplier.
(ii) Where the goods or any of them are subject to an express warranty given by the manufacturer or the supplier being a warranty upon which the supplier may rely, them the terms of such express warranty shall be deemed to be incorporated in these terms and conditions of supply but without creating any priority of contract between the customer and such manufacturer or supplier and in any such case where a claim is made by a customer or under such warranty, the judgement of the manufacturer or supplier, as the case may be, as to whether or not there has been a breach of the warranty shall be final and binding upon the supplier and the customer.
(iii) Goods returned under warranty must be returned free into the supplier’s premises; all transportation charges, insurance and other charged being borne by the customer.

10. Limitation of Liability
The liability of the supplier in any case of:
(i) A claim for any discrepancy or shortage in the goods delivered (which must be made within the time limit in clause 5:
(ii) A claim in relation to any disputes as to the goods delivered (which must be made within the time limit in clause 5 or,
(iii) A claim in respect of goods which are found to be defective,
Shall be limited to the value of the goods concerned and the supplier shall have no further liability or responsibility for any direct, indirect or consequential injury, loss or damage whatsoever and howsoever arising.

11. Definitions

(i) All payments for goods supplied pursuant to these terms and condition of supply shall be made to Bike Torque Ltd.

(ii) The terms “company” and “customer” include any Person, Sole Trader, Limited Liability Company, Partnership and any other business entity.