The granting of a credit facility is reliant upon the information being supplied in support thereof is true and correct in every material respect.
Where a credit facility is offered the normal trading terms are strictly 30 days from the date of invoice. All accounts are to be paid in accordance with these Terms and Conditions unless otherwise agreed by SRXGlobal in writing and acknowledge that if the account becomes overdue, it will be automatically suspended until brought within trading terms.
Interest may be charged on overdue balances in accordance with these Terms and Conditions.
Directors’ Personal Guarantees may be required and will be provided upon request.
SRXGlobal shall investigate all trade references regarding Customer’s credit and financial history and carry out any further investigation, including obtaining information from a credit reporting agency or disclosing credit information to a credit reporting agency about our application for credit, now and from time to time as it considers appropriate.
Where the credit limit being sought is above A$150,000 SRXGlobal is also required to obtain approval from its Trade Credit Insurer prior to providing credit facilities. SRXGlobal will not provide the insurer with any of the information provided by the Customer without first seeking the approval of the Customer.
The level of credit granted is at SRXGlobal’s absolute discretion and will consider the quality of information provided in this application and supporting data, including any financial information provided.
All accounts must be settled by electronic funds transfer. Any overdue balances incur interest at the rate of 2% per month calculated daily from the date when payment fell due until fully paid.
SRXGlobal may from time to time alter these Terms and Conditions and shall be available on the SRXGlobal website at srxglobal.com. The Customer agrees to keep apprised of these Terms and Conditions as posted to the website.
In the event that the Customer makes any default in payment of any amount due to SRXGlobal or fails to comply with its obligations under the Manufacturing Services Agreement, SRXGlobal may at its sole discretion and without prejudice to any other rights it may have, take one or more of the following actions: revoke the credit facility; require payment in cash before or on shipment of Products; cancel any undelivered or incomplete order or any portion of any order; issue a written demand for the full or partial payment of all amounts outstanding that shall thereupon become immediately due and payable; and/or upon 30 days notice terminate the Manufacturing Services Agreement.
The Customer agrees to indemnify SRXGlobal for any costs which SRXGlobal incurs arising from the collection of any overdue monies.
The failure by SRXGlobal to insist on compliance with any of these provisions of these Terms and Conditions does not constitute a waiver of any other rights of SRXGlobal.
If any part of these Terms and Conditions is found to be unenforceable then that provision or part of the provision shall be severed and the remaining provisions shall continue to be binding on SRXGlobal and the Customer.
The law applicable to these Terms and Conditions is the law of Australia.
These Terms and Conditions must be read in conjunction with our Manufacturing Services Agreement. Where there is a conflict with the Manufacturing Services Agreement, these Terms and Conditions will prevail to the extent of any conflict.
Personal Properties Securities Act 2009 (Cth) (“PPSA”). 17.1 The Customer acknowledges that these Terms and Conditions and the Manufacturing Services Agreement create a security interest under the PPSA and that it has received value as at the commencement of these Terms and Conditions. The Customer has not agreed to postpone the time for attachment of the security interest granted to SRXGlobal under these Terms and Conditions. 17.2 The Customer: (a) must at SRXGlobal’s request, promptly execute any documents and do anything required to register SRXGlobal’s security interest in the Products on the Personal Properties Securities Register (“PPSR”); (b) must indemnify, and upon demand reimburse SRXGlobal for all expenses incurred in registering a financing statement on the PPSR; (c) must keep full and complete records of the Products; (d) must not without the prior written consent of SRXGlobal, sell, lease, dispose of, create a security interest in, mortgage or part with possession of the Products or any interest in them (or purport or attempt to purport to do such a thing) or permit any lien over the Products;(e) without limiting any other right SRXGlobal may have, must immediately return the Products if requested to do so by SRXGlobal following non-payment of any amount owing by the Customer to SRXGlobal or following breach of any other obligation of the Customer to SRXGlobal;(f) gives SRXGlobal the right to inspect the Products or any part of it at all reasonable times;(g) must not change its name, address or contact details without providing SRXGlobal prior written notice; and (h) must not register a financing change statement or a change demand without the prior written consent of SRXGlobal.17.3 So far as permitted by the PPSA, the Customer waives its right: (a) to receive a copy of any verification statement or financing change statement or a statement of account on sale of the Products; (b) to receive any notice required under the PPSA, including a notice that SRXGlobal intends to sell the Products or to retain the Products on enforcement of the security interest granted to SRXGlobal; (c) to object to a proposal by SRXGlobal to retain the Products in satisfaction of any obligation owed by the Customer to SRXGlobal;(d) where any Products become attached to other goods and are deemed an accession as defined in the PPSA, to not have any goods damaged when SRXGlobal removes the accession, to receive notice of removal of the accession and to apply to the court for an order concerning the removal of the accession, under the PPSA. 17.4 By submitting a Purchase Order, entering into a SRXGlobal credit facility, or acceptance of delivery of Products, the Customer acknowledges that it has entered into a security agreement as defined by the PPSA and that SRXGlobal may register its security interest on the PPSR.
The term “SRXGlobal” includes SRXGlobal (Australia) Pty Limited (ABN 64 150 964 613), SRXGlobal (Malaysia) Sdn Bhd (Company Number 874164-V) and SRXGlobal (Singapore) Pte Ltd (Registration No. 200908821N).