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VINTAGE TYRES CREDIT ACCOUNT TERMS & CONDITIONS

 

 

1.         DEFINITIONS

1.1.      For the purpose of these Conditions:

1.1.1. “the Buyer” means the party to which VTS has agreed to supply products.

1.1.2. “Contract” means the contract (whether or not recorded in writing) between VTS and the Buyer for the supply of the Buyer of the products, which shall be deemed to incorporate these conditions.

1.1.3. “VTS” means Vintage Tyre Supplies Ltd, being the supplier of the Products to the Buyer under Contract.

1.1.4. A “Default” occurs when the buyer either:

1.1.4.1.    falls to make any payment due to VTS on or before the due date (whether or not such payment is due under the contract);

1.1.4.2.    commits any breach of the terms of the contract or any contract between VTS and the Buyer;

1.1.4.3.    enters into any arrangements with any of its creditors (including any voluntary arrangement as described in the Insolvency Act 1986);

1.1.4.4.    has a receiver and manager, administrator, administrative receiver or liquidator appointed over all or any part of its undertaking or assets; or

1.1.4.5.    ceases to carry on its business or becomes unable to pay its debts within the meaning of section 123 of the insolvency Act 1986.

1.1.5. “Products” means any tyres or other products to be supplied by VTS under the contract.

1.1.6. “VAT” means value added tax (or any equivalent tax) at the appropriate rate.

 

2.         CONDITIONS OF SALE

These Conditions shall apply to the Contract to the entire exclusion of any standard terms or conditions specified by the Buyer.  Acceptance of the Products by or on behalf of the Buyer shall be deemed to be full and unconditional acceptance of these Conditions.

 

3.         AVAILABILITY

If VTS is unable to obtain any products or components required to enable VTS to supply the products, VTS may give verbal notice to that effect to the buyer.  Upon receipt of such notice by the Buyer the Contract shall cease to have effect to the extent stated in such notice.

 

4.         QUOTATIONS

The validity of any quotation is limited to a period of 30 days from its stated date unless otherwise specifically stated in the quotation.

 

5.         DELIVERY

5.1.      While VTS will use reasonable endeavours to adhere to any delivery date agreed by VTS, the time of delivery of the Products shall not be of the essence.  VTS shall not be liable to the Buyer in damages or otherwise for any delay in delivery of the Products.

5.2.      If any details of the Contract are altered by the Buyer by agreement with VTS (including but not limited to the design or quantity of the Products) or if any queries are raised by the buyer, the delivery date may be extended by VTS by such period as shall be reasonable in all the circumstances.

5.3.      Unless otherwise specifically stated in the Contract:

5.3.1. delivery of the Products will be made via a VTS nominated external carrier and charged their standard advertised rate;

5.3.2. claims in respect of Products, which arrive damaged or are short delivered must be notified to VTS in writing within 5 working days after receipt;

5.3.3. only Products supplied by VTS may be returned in the case of complaint; and

5.3.4. VTS can only accept Products which are covered by a fully completed VTS claim form.

 

6.         PRICES

6.1.      All prices shown in VTS’ current price lists are subject to alteration without notice.  Such alteration shall not affect any Contract in existence at the date of such change.

6.2.      Prices quoted on Invoices.

 

7.         PAYMENT

7.1.      Payment shall be made prior to delivery of the Products unless credit terms have been agreed in writing with VTS.

7.2.      All credit accounts must be made in full on the due dates.  VTS will not supply Products to a customer whose account is overdue.

7.3.      Interest shall automatically accrue at 4% above Barclays Bank base lending rate on any amount which is not paid on the due date, such interest being calculated on a daily basis and compounded monthly.

7.4.      Any consignment or part consignment of the products shall if so required by VTS at any time be treated as the subject of a separate contract and be paid for accordingly.

 

8.         VAT

All prices quoted are exclusive of VAT which (together with any similar tax) shall be added at the appropriate rate and paid by the Buyer in accordance with Condition 7.

 

9.         RISK

Risk in any consignment of the Products shall pass to the Buyer on delivery of the same to the Buyer or on collection of the same by or on behalf of the Buyer

10.       RETENTION OF TITLE

10.1.   Legal and beneficial ownership of any consignment of the Products shall pass to the Buyer only when all amounts due from the Buyer to VTS in respect of such Products and all other products supplied by VTS to the Buyer have been received in full.  Until such time, the Buyer shall be entitled to sell the Products or otherwise deal with them in the ordinary course of its business but shall keep the Products separate and identifiable from any similar products held by the Buyer.

10.2.   If any default occurs then:

10.2.1. The power of sale under Condition 10.1 above shall automatically cease.

10.2.2. VTS shall be entitled to enter upon the premises of the Buyer and to reclaim the Products.

10.2.3. Upon VTS reclaiming the Products or part of them the Contract shall be deemed to have been cancelled in respect of the reclaimed Products only and VTS shall repay to the Buyer the purchase price for such Products less:

10.2.3.1. all amounts owing from the Buyer to VTS on any account whatsoever (whether or not the same are due for payment); and

10.2.3.2. the cost of reclaiming such Products.

 

11.       CANCELLATION

11.1.   If a default occurs then VTS shall in its discretion be entitled:

11.1.1. to terminate the Contract or any part thereof; and

11.1.2. to terminate any other agreement between VTS and the Buyer for the supply of Products which has not been completely performed.

11.2.   Such termination shall become effective either:

11.2.1. when VTS give written notice to the Buyer to that effect; or

11.2.2. when VTS reclaims the Products under Condition 10.2.  Such notice may be sent by ordinary or recorded delivery post or by fax. 

11.3.   Upon such termination:

11.3.1. the buyer’s obligations to make payments under the Contract or other agreement shall cease but VTS shall be entitled to retain any payments already made by the Buyer; and

11.3.2. VTS shall cease to be liable to supply any products to the Buyer under the Contract or such other agreement.

 

12.       LIABILITY

12.1.   VTS’ liability in respect of any defect in the Products whether in negligence, breach of contract or otherwise shall be limited to replacing the defective Products without further charge or, where this is feasible and at VTS’ option, to repairing defective Products.  VTS shall not be liable for any defect appearing in the Products due to improper use.

12.2.   VTS shall not in any event be liable for any indirect or financial losses arising out of any breach of contract or negligence on the part of VTS, including without limitation any lost of profits or business, liquidated damages or penalties and any claims against the Buyer by any third party.

12.3.   No claim may be made against VTS in respect of defective Products after a period of time of 4 weeks from the delivery of the products to the Buyer, except in the case of defects which are not apparent on reasonable examination.

12.4.   The Buyer shall be fully responsible for ensuring the safe and proper installation and use of the products.  The Buyer shall ensure that any instructions and warnings supplied by VTS shall be drawn to the attention of its employees handling the Products and, where relevant, to the attention of the Buyer’s customers purchasing the Products from the Buyer.

12.5.   Nothing in these Conditions shall limit or exclude VTS’ liability for:

12.5.1. death or personal injury caused by its negligence, or the negligence of its employees, agents or subcontractors (as applicable);

12.5.2. fraud or fraudulent misrepresentation;

12.5.3. breach of the terms implied by section 12 of the Sale of Goods Act 1979;

12.5.4. defective products under the Consumer Protection Act 1987; or

12.5.5. any matter in respect of which it would be unlawful for VTS to exclude or restrict liability.

 

13.       PRODUCT LIABILITY

The Buyer shall keep VTS indemnified on demand in respect of any claims which arise as Protection Act 1987 to the extent that such claims arise from any failure on the part of the Buyer to comply with the provisions of Condition 12.4 above.

 

14.       FORCE MAJEURE

VTS shall not in any event be liable to Buyer in damages or otherwise for any failure to deliver or delay in the delivery of the Products which arises from any cause beyond VTS’ reasonable control, including but not limited to shortages of products, raw materials or components, strikes, lockouts, other industrial action, acts of warfare (whether or not declared) or acts of God.

 

15.       LAW

15.1.   The contract (including these conditions) shall be governed by and construed in accordance with English Law.

15.2.   The headings to these Conditions and the order in which they appear shall be ignored for the purposes of construction.

 

16.       GENERAL

16.1.1. The Buyer shall not be entitled to assign any of its rights or obligation under the Contract without VTS’ prior written consent.

16.2.   Failure by VTS to enforce any term of the Contract shall not be deemed to be a waiver of any of its rights under the Contract