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C K 9 7 /1 3 4 8 5 /2 3

SUPPLIERS OF ELECTRICAL AND MECHANICAL POWER TRANSMISSIONS

TEL: 015-297 1617 / 1715 FAX: 015-297 0630 VAT NO: 4660164262

P.O. BOX 55776 POLOKWANE 0700

3 INDUSTRIA ST POLOKWANE 0699

CREDIT APPLICATION STANDARD TERMS AND CONDITIONS OF SALE

• • • • •

• • • • •

Required supporting supporting documentation Sole Proprietor Close Corporation Business Letterhead • Business Letterhead Cancelled business cheque • Cancelled business cheque Copy of invoice from existing trade reference • Copy of member(s) ID(s) Copy of proprietor’s ID • Copy of CK 1 & 2 documents Proof of VAT registration • Proof of VAT registration (VAT 103 certificate) (VAT 103 certificate) Partnerships Proprietary Limited Enterprise (PTY) Ltd Business Letterhead • Business Letterhead Cancelled business cheque • Cancelled business cheque Copy of partners ID • Copy of majority shareholder’s/director’s ID Copy of partner agreement (if available) • Copy of Certificate of Incorporation (CM1), or Proof of VAT registration certificate of name change (VAT 103 certificate) • Proof of VAT registration (VAT 103 certificate)

IMPORTANT: • All pages must be completed; • Please ensure that applicant initial every page; • Please ensure that applicant and surety read and understand the terms and conditions; • Only use black ink; • Original Original application must be sent to Elecmec Transmissions, P O Box 55776, Polokwane, 0700 • Please, put email address where statement can be emailed.

OFFICE USE ONLY ACCOUNT NO: _____________________

APPROVAL SIGNATURE:

LIMIT APPROVED: __________________ REP CODE:

__________________

________________________

MEMBER: ANTONN CLOETE

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C K 9 7 /1 3 4 8 5 /2 3

SUPPLIERS OF ELECTRICAL AND MECHANICAL POWER TRANSMISSIONS

Business Partner Application Company details Trading name: Registered name:

Physical & Postal address:

Telephone No: Fax No: No: E-mail address: (Accounts) Web address: Registration No: VAT No: Nature of business:

( (

) )

www.

Client contact details Name E-mail

Title Managing Director General Manager Financial Manager Buyer Buyer

Cell No.

Auditors Auditors / Accountants Name: Address: Tel No:

(

) Bank Data Branch code: Account type: Date opened:

Bankers: Branch name: Account No: Comments: Are you prepared to enclose a copy of your latest financial statement? Premises: Leased Owned Premises:

YES

NO Rented


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Trade References 1 Name: Address: Telephone No: Contact person: Comments:

Credit Limit: Monthly trading: Trade References 2

Name: Address: Telephone No: Contact person: Comments:

Credit Limit: Monthly trading: trading: Trade References 3

Name: Address: Telephone No: Contact person: Comments:

Credit Limit: Monthly trading: Directors / Members Information

1. Name: Address: Telephone No: Id no:

Married ICP/ Spouse Name & id no:

Email address: address: 2. Name: Address: Telephone No: Id no:

Married ICP/ Spouse Name & id no:

Email address: 3.Name: Address: Telephone No: Id no:

Married ICP/ Spouse Name & id no:

Email address: Credit limit required: Expected monthly purchases: purchases:

R R


4 Administration Data

Invoice address:

Delivery address:

Delivery Instructions: Courier company: Account No:

COLLECT

DELIVER Contact person:

COURIER

Telephone No:

Consent According to Terms of the National Credit Act no.34 no.34 of 2005 1. Full Registered Name: _____________________________________________ 2. Legal Status of Customer: __________________________________________ 3. Gross Asset Value of Customer: _____________________________________ 4. Annual Turnover of Customer: ______________________________________ 5. Consent: I/We hereby authorize Elecmec Transmissions CC to furnish credit information concerning myself/ourselves to any credit bureau, or to any credit provider seeking trade references, and to request information concerning myself/ourselves from any credit bureau or any credit provider in order for Elecmec Transmissions CC to conduct a credit assessment or affordability assessment in respect of myself/ourselves and / or trace me/us. Should our credit limit be exceeded, Elecmec Transmisisons CC are authorized to re-apply for limits higher than currently in place. I/We certify that the above information is true and correct. ________________________________ For and on behalf of of the customer referred to in paragraph 1 above

Name: ___________________________

Capacity: _________________________

Date: ___________________


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Agreement of Sale I/We acknowledge that the terms of payment are strictly 30 days from the date of statement and accept that if these terms are not adhered to, the Supplier can and will stop delivery of goods with immediate affect. Overdue accounts shall: • bear interest at the maximum rate permissible by law; • entitle the Creditor, without prejudice and additionally to any other rights, to suspend deliveries until the account is brought up to date, and to reverse any trade or early settlement discount which may have been allowed in respect of the transactions for which payment is overdue’ • Automatically suspend any rights which the applicant may have relative to any warranty which may have been given in respect of goods sold. 1. These terms and conditions become final and binding on receipt of the acceptance by the Supplier at its business address. 2. The signatory hereby binds himself in his personal capacity (in case of a Company), Member (in case of a Close Corporation) or Owner or Partner as co-debtor jointly and several for the full amount due to the Supplier and agrees that these standard terms and conditions will apply mutate mutandis to him. 3. The Customer agrees that: It is the sole responsibility of the Customer to determine that the goods and services ordered are suitable for the purposes of the intended use; The Customer will pay all costs resulting from any acts or omissions by the Customer, this includes suspension of work, modification of requirements, failure or delay in giving particular authority to enable work to proceed on schedule or require that work is completed earlier than agreed; 4. All quotations are subject to the availability of the goods or services and subject to correction of bona fide errors by the Supplier, and the prices quoted are subject to any increases in the cost price; 5. Delivery of goods to the Customer shall take place at the place of business of the Supplier; 6. The Supplier shall be entitled to invoice each delivery actually made; 7. Any delivery note or waybill signed by the Customer or a third party engaged to transport of the goods and held by the Supplier shall be conclusive proof that delivery was made to the Customer; 8. The risk of damage to, destruction or theft of the goods shall pass to the Customer on delivery of any order placed in terms of this agreement; 9. Repair times and repair cost given are estimates and are not binding on the Supplier. 10. New goods are guaranteed according to the Manufacturer’s product specific warranties, or agreed specification only 11. No claim under this agreement shall arise unless the Customer has, within 7 days of delivery, given the Supplier written notice to rectify the defect or breach of agreement; 12. To be valid, claims must be supported by the original delivery note or invoice; 13. All guarantees are null and void should any goods be tampered with or should the goods be operated or stored outside the manufacturer’s specifications; 14. The Supplier shall not be liable for any consequential damages or liability of any nature; 15. The Supplier shall not be liable for any damage arising from any misuse of the goods; 16. The Customer agrees that the amount contained in any invoice issued by the Supplier shall be due unconditionally within the approved credit period as specified on the Application for Credit. No payments will be with held pending credit. 17. The Customer has no right to withhold payment for any reason whatsoever. No payments will be withheld pending credit.


6 18. The Customer is not entitled to set off any amount due to the Customer by the Supplier against this debt; 19. Any printout of computer evidence tendered by either party shall be admissible evidence and no party shall object to the admissibility of such evidence purely on the grounds that such evidence is computer evidence or that the requirements of the Computer Evidence Act have not been met; 20. The Customer agrees that in case of late payments, interest shall be payable to the Supplier on the overdue monies which shall be calculated from date of the invoice at the maximum rate permissible by law; 21. The Customer agrees that if an account is not settled in full within the agreed period of the credit terms, the Supplier is entitled: a. To institute immediate legal action against the Customer at the sole expense of the Customer; b. To cancel the agreement and take possession of any goods delivered to the Customer and claim damages; c. To submit the details of the Customer’s non-payment to a credit bureau; 22. All goods supplied by the Supplier remain the property of the Supplier until such goods have been fully paid for. 23. The customer shall be liable to the Supplier for all legal expenses on the attorney-and-own client scale of an attorney and council incurred by the Supplier in the event of:a. Any defaults by the Customer or; b. Any litigation with regard to the validity and enforceability of this agreement; 24. Any notice shall be deemed duly accepted by the Customer: a. Within 7 days of mailing by prepaid mail to any of the Customer’s business or postal addresses, or b. Within 24 hours of being faxed/emailed to any of the Customer’s fax numbers/emailed, or c. On being delivered by hand to the Customer; d. Within 48 hours if sent by overnight couriers; e. The customer chooses domicilium citandi et executandi at the business address or the physical addresses of any Director (in the case of a company), Member (in the case of a Close Corporation), or of the Owner(s) or Partner(s); f. The Customer undertakes to inform the Supplier in writing:g. Of any change of Director, Member, Owner or Partner within 7 days of such change; h. Of any changes of addresses within 7 days of change; i. Of the disposal of the Customer’s business within 14 days of such change, failure to do so will constitute a material breach of this agreement; 25. The Supplier reserves the right to renew its pricing structure in accordance with market, economic and other relevant circumstances;

RETURNS POLICY & PROCEDURES The following procedures must be followed, should you wish to return any goods. 1. Please phone the internal sales person with whom you placed the order and discuss the reason for return i.e. a. Incorrect supply b. Incorrectly ordered c. Items wrong for application etc. 2. Should the salesman agree to accept the goods back for credit, you will be issued with a Return number. (No goods will be accepted back for credit without a return number) 3. If the goods were correctly supplied and invoiced, a handling fee, normally between 15 – 25% as depicted by the supplier, will be charged to return the goods. An additional cost


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4.

5. 6.

7.

will be charged for transport, restocking or packing fee back to suppliers, and is subject to the weight of the product to be returned. Goods will only be accepted back for credit on the following conditions; a. Packaging is original and not opened and b. Goods are in a saleable conditio No Buys-outs, specially manufactured panels, cable and or lamps will be accepted back for credit. Please do not withhold payment for goods you wish to return. The moment the goods are back in our stores, complete with a valid return number, a credit will be passed and our account will be credited. Subjected to suppliers return policies. No exceptions will be made, and goods arriving in our stores without return for credit number, will be shipped back to the customer on their expenses.

I, …………………………………………………………………………………………., fully accepted all the above and have full signing rights to sign to application form for credit. 1.Authorised Signatory: …………………………………………………………… Name: ……………………………………………………………………………………….. Capacity: ………………………………………………………………………………….. 2.Authorised Signatory: ………………………………………………………… Name: ……………………………………………………………………………………….. Capacity: ………………………………………………………………………………….

Signed at ……………………………………………………………………on the ………….. day of …………………………………20………

Witnesses Signature:………………………………………………………………. Name: ……………………………………………………………………… Signed at ……………………………………………………………………on the ………….. day of …………………………………20………


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SURITYSHIP The company ______________________________________, hereby binds itself and co-principal debtor/s in solidum unto Elecmec Transmissions cc and its successor in title for the due and proper fulfilment of all the obligations owing at present or to be incurred in future of the Applicant. The company __________________________________, hereby renounce of benefits of the legal exceptions beneficium ordinis leu excussionis et divisions and duobus val pluribus res debondi, and the company_____________________________________, declare that it fully understand the meaning of the said legal exceptions. I/We the undersigned, hereby declare that I am authorized to act on behalf of the applicant.

On behalf of the applicant, being duly authorised to do so, I the undersigned, warrant the above information is true and correct. If the application is granted, I confirm the applicant will pay the balance owing as shown on monthly statements rendered, strictly within 30 days after the date of the statement. Until such time as payment is made in receipt of the goods delivered, ownership of such goods remain vested in the seller.

I/We undersigned by my/our signatures hereto, do hereby interpose myself/ourselves and coprincipal debtors in solidum, in favour of the seller for the due performance of all obligations of the buyer, in terms agreement, and for legal costs as set out in clauses above I, ………………………………………………………………………………………….,. Signed by me in personal capacity and I confirm that I have read, understood and agreed to this surety ship condition.

1.Authorised Signatory: …………………………………………………………… Name: ……………………………………………………………………………………….. Capacity: ………………………………………………………………………………….. Signed at ………………………………………………………on the ……. day of………….………20………

2.Authorised Signatory: ………………………………………………………… Name: ……………………………………………………………………………………….. Capacity: …………………………………………………………………………………. Signed at …………………………………………………on the ………….. day of …………………20………


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