Payment & Security
Extract from General Terms & Conditions
In these conditions the following expressions shall have the following meanings:
“The Seller” means The Electric Heating Co. Ltd., Unit 40, Block 5, Third Road, Blantyre Industrial Estate, Blantyre, Glasgow G72 0UP and “the Buyer” means the distributor or customer who purchases Goods directly from The Electric Heating Co. Ltd.
“Contract” means the contract between the Seller and the Buyer.
“Goods” means the Goods which are the subject matter of the Contract sold to the Buyer by the Seller.
1. General
1.1 All Contracts for the sale of Goods shall be upon the Terms and Conditions contained herein (the Conditions), except so far as the same has been varied in accordance with the provisions of Clauses 1.2 and 1.3 hereof.
1.2 The Conditions herein printed shall form the whole of the terms and conditions of such Contract, all orders are accepted on the Conditions, which supersede any other terms in the Seller’s brochure or elsewhere, and shall override and exclude any other terms stipulated or incorporated or referred to by the Buyer, whether in the order or in any negotiations and course of dealing established between the Buyer and the Seller.
1.3 The Conditions shall not be varied or added to by reference, incorporation or otherwise unless such variations or additions have been made by express written agreement between the Seller and the Buyer. The signing by the Seller or any of the Buyer’s documentation shall not imply any modifications of the Conditions.
1.4 For the purpose of the Conditions, communications made between the Seller and the Buyer by electronic mail shall be regarded as being made in writing and signed by the party sending the electronic mail communication.
1.5 The Seller reserves the right to correct any clerical or typographical errors made by its employees at any time.
2. Orders & quotations
Orders are subject to our acceptance. Quotations are without engagement and are subject to Goods being available when the order is received. Quotations are subject to withdrawal at any time before receipt of an unqualified order from the Buyer and shall be deemed to be withdrawn if no such order is received within 30 days from their date unless otherwise stated in writing by the Seller at the time of quoting. The Seller reserves the right not to complete an order it the Buyer’s credit worthiness subsequently proves unsatisfactory.
3. Prices
3.1 The price For the Goods are those set out in The Electric Heating Co. Ltd price list.
3.2 All prices quoted by the Seller are ex-works and are the net prices and therefore exclusive of Value Added Tax. The Buyer shall pay all taxes in respect of the Goods together with transport costs to the Seller for delivery of the Goods to the Buyer.
3.3 The Seller shall at any time be entitled to increase the prices for the Goods should there be an increase in the cost to the Seller of purchasing any Goods or materials by reason of any foreign exchange fluctuations, alterations in any taxes or duties, variations in the costs or raw materials or components or labour or transport or by reason of any other cause whatsoever beyond the control of the Seller.
4. Payment & Accounts
4.1 Credit accounts can only be opened at the discretion of The Electric Heating Co. Ltd. and will be subject to satisfactory references, however the first order for a new account will be strictly on a pro-forma basis.
4.2 Following receipt of payment in full of the first order, standard business credit terms may be offered.
4.3 Terms of payment for credit account holders are strictly nett 30 (thirty) days from the end of the month of invoice unless otherwise agreed in writing by us and also always providing any account has been approved and opened. Payment of the account on the due date is a vital condition of the contract. In the event of non-payment in accordance with the credit terms, the whole of the price for all Goods sold by the Seller to the Buyer whether under this or any other contract shall immediately become due and payable. The Seller reserves the right to charge interest on outstanding amounts at the rate or 8% per annum above UK clearing bank base lending rate from time to time until payment is made in full.
4.4 The Electric Heating Co. Ltd. reserves the right to set a maximum amount of credit allowable upon each account and to withdraw credit facilities without explanation.
4.5 Where the Goods are to be supplied and payment is therefore to be made, the failure of the Buyer to pay in due time shall entitle the Seller to treat such failure as a repudiation of the Contract with the Buyer and to recover damages for any breach of Contract.
4.6 Time of payment by the Buyer is of the essence for each Contract.