Classic Sportswear
ACN 003 627 923

TRADING TERMS

1)  For all approved monthly credit accounts, payment of accounts must be received by Classic Sportswear no later than the 21st day of the month following the month of invoice. If part of the invoice is in dispute (acting reasonably and in good faith) you shall pay the parts of the invoice not in dispute upon the before-mentioned terms and make every effort to resolve the dispute as soon as practical and pay the account immediately the dispute is resolved in the manner of the resolution..

2)  A service fee of 2.5% per month or part thereof, compounded monthly, shall be payable for any account not paid in accordance with Clause 1.

3)  All costs incurred by Classic Sportswear in relation to debt recovery and all costs in relation to a cheque being dishonoured are at the expense of the applicant.

• a) In addition an administration fee of $30 shall be imposed for each dishonoured cheque.
  
  
• b) Classic Sportswear reserve the right to notify credit report agencies should your account exceed its trading terms by more than 60 days without prior written approval.
  

 

4) Classic shall have the right to allocate monies received from the Customer or Guarantor or any other person on their behalf in the following manner:

• a)  Firstly towards costs, charges and other expenses due and payable or becoming due and payable to Classic.

• b) Secondly towards invoices for goods and/or services supplied – oldest invoices first unless otherwise advised with payment.

5)  Title (including any equitable and/or beneficial entitlement) to product shall not pass from Classic Sportswear to the Purchaser until the Purchaser has paid for the product in full..

• a)  Until the Purchaser has paid for the product in full the purchaser shall store and/or warehouse the product, the subject of each and every invoice, separate and distinct from any other goods and/or products whether supplied by Classic Sportswear or any other party and shall clearly identify such product as having been supplied by Classic Sportswear pursuant to the relevant invoice number.
  
  
• b)  If the purchaser shall sell the product prior to the payment in full, Classic Sportswear’s beneficial entitlement shall attach to the proceeds of resale or to the claim to such proceeds.
  
  
• c)  The onus is upon the purchaser to show that the goods have been paid for.
  
  
• d)  Whilst any amount is owing to Classic Sportswear, the purchaser grants Classic Sportswear the right to enter the premises of the Purchaser to claim and collect the product for which payment has not been made without any liability for entry or removal of goods.
  
  
• e) Upon removal of goods, Classic Sportswear shall be at liberty to re-sell and recover from the Purchaser any shortfall plus its costs, charges and expenses.
  
  
• f)   Notwithstanding anything herein contained, the risk shall pass to the Purchaser Ex-Works unless otherwise instructed provided packaging, crating and quality of the product are to specification
  

6)  All orders are construed as being placed at Surry Hills, Sydney and are subject to acceptance by Classic Sportswear.

7)  No order can be cancelled once production has commenced or raw materials committed to unless you pay any costs that are quoted by and Classic Sportswear at the time of your cancellation request.

8)  The customer warrants that it is authorised to use any design which it instructs Classic to use.  The customer indemnifies Classic Sportswear against any claim, loss or damage made against or suffered by Classic Sportswear as a result of breach of the warranty herein.

9)  Any change in the structure and/ or ownership of the applicant will be notified to Classic Sportswear within seven days.

10)  We, the undersigned indemnify Classic Sportswear against any loss incurred by it due to any change in the structure and/or ownership of the purchaser unless written advice is received by Classic Sportswear prior to the first delivery of goods after any change.

11) Should Classic Sportswear waiver any of the before-mentioned terms and conditions in past transactions, it cannot be construed as Classic Sportswear wavering such terms and conditions in future transactions.

12) I/We agree to be bound by these terms and conditions and those current at the time of placing any order.

13) The governing law of this contract shall be the substantive law of New South Wales