5. PAYMENT PROVISIONS
5.1 The Contract Price shall be agreed between
the Parties before delivery or collection of the Goods.
5.2 The Vendor's price lists do not represent a binding offer for sale and are
for guidance only. The Vendor reserves the right at any time before delivery or
collection of the Goods to change its price lists and quotations or estimates
and to increase the Contract Price if;
5.2.1 The cost to the Vendor of providing or producing such Goods increase due
to any factor beyond the control of the Vendor.
5.2.2 The Customer orders different or additional Goods.
5.2.3 The Customer causes any delay.
5.3 Except for credit accounts, all sums due under the Contract will be paid by
the Customer on receipt of invoice at or in advance of delivery or collection.
5.4 The Vendor may approve credit accounts for some customers. Such credit
accounts, any credit limits and any other conditions are entirely at the
Vendor's discretion and may be varied at any time without notice. If the
Customer has an approved credit facility and the Contract Price does not take
its aggregate credit beyond any limit imposed by the Vendor, the Customer shall
pay the Contract Price by the last day of the calendar month following the
invoice date. If the Contract Price does take the aggregate credit beyond any
such limit, the excess shall be payable in accordance with clause "5.3" above.
5.5 The Contract Price does not include VAT or any similar sales tax or customs
duty, which will be paid additionally by the Customer at the then prevailing
rate, nor carriage or insurance costs unless expressly stated, which may be
added by the Vendor to the Contract Price.
5.6 No act or omission of the Customer in collecting the Goods or which prevents
the Vendor from delivering the Goods shall prevent the Vendor from raising an
invoice in accordance with this clause 5.
5.7 If the Customer fails to make any payment in accordance with this Contract
the Vendor may take any or all of the following steps;
5.7.1 Terminate the Contract and charge the Customer a stocking charge at the
rate of 2% of the Contract Price per month until the date of resale if the
Vendor cannot resell the Goods within 14 days of termination at an equivalent
5.7.2 Charge the Customer interest (both before and after any judgement) on the
amount unpaid at the rate of 2% per month until payment in full is made.
5.7.3 Appropriate any payment made by the Customer and set-off any monies due to
the Customer, whether under this Contract or any other contract or otherwise
(including any VAT applicable), to or against the unpaid invoice or invoices.
5.7.4 Refuse to deliver or allow collection of the Goods or provide any services
or guarantee work under this or any other Contract until payment is made in
5.8 The Vendor will accept as cleared payment Visa and MasterCard credit cards
(subject to clause 5.9 below), personal UK cheques covered by a guarantee card,
Switch, Sterling, Banker's Drafts and Bank Transfers. The Vendor may accept
other payment methods including business cheques, overseas cheques drawn on a UK
Bank, Euro cheques, foreign currency and cheques by prior arrangement. In those
cases the Vendor reserves the right to make an additional administrative charge
and to delay delivery or collection until cleared funds have been received,
except on credit accounts. Monthly credit accounts must be settled by Swift
Interbank Transfer payable in £Sterling. Unpaid cheque charges will be passed on
to the Customer.
5.9 For payment by Visa or MasterCard, the vendor reserves the right to require
such details as it may deem necessary to authenticate validity of payment to its
satisfaction prior to the delivery or collection of the goods.