TERMS AND CONDITIONS FOR GRANTING OF CREDIT FACILITIES
The Company will grant credit facilities in respect of goods supplied and/or services
rendered to the Customer upon the following terms and conditions:
1. Credit will be ranted for a period not exceeding 30 days from the date of statement
for the month during which the goods and/or services are delivered and/or ordered.
2. The Company reserves the right at its sole discretion to withdraw such facilities
at any time and require immediate payment of all outstanding amounts.
3. The Customer agrees to pay all account in full and shall not set off claims against
the amounts due, or deduct any discounts, unless stated on the invoice.
4. Overdue amounts shall bear interest at two percentage points above prime overdraft
rates charged by the Standard Bank of South Africa Limited from time to time, which
interest the company will be entitled to charge and recover from the Customer on
5. The Customer agrees to pay all costs incurred by the Company for the purpose of
collecting overdue amounts from the Customer, which cost the Company will be entitled
to charge and recover from the Customer on demand.
6. The Customer hereby nominates the address of registered office contained in this
application for credit facility as its Dom cilium citandi et executande for all communications
to or service of legal process on the Customer.
7. The Customer agrees to notify the Company in writing within 7 days of any change
of ownership, name, address or telephone numbers.