1. PARTING OF OWNERSHIP AND RISK
(a) The ownership of any goods sold by the seller to the customer shall not pass to the customer until payment of the full purchase price thereof has been made or the goods have been used by the customer.
(b) The risk in and to the goods sold hereunder shall pass to the customer on delivery thereof to the carrier notwithstanding the reservation of ownership therein, and irrespective of whether the seller or the purchaser pays the carrier’s charges.
(c) If payment of the purchase price of any goods sold to the customer becomes overdue in whole or in part, then, without prejudice to any of the seller’s other rights, the seller or his agents shall be entitled without notice, to cancel the sale and recover possession of the goods, or to re-sell the same or any of them and shall be entitled to enter upon the purchaser’s premises for the purpose of such re-sale or for the purpose of inspecting the goods or for the purpose of re-taking possession of the goods (where such re-taking is by law allowed).
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2. CLAIMS FOR LOSS OR DAMAGES
(a) Claims in respect of alleged faulty goods shall not be a ground for withholding payment of any amount due to the seller, and shall not give the customer any right of set-off against any payment due the seller.
(b) The purchaser will not be entitled to return any goods to the seller without the seller’s prior written consent.
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3. PURCHASE PRICE
(a) The full purchase price as stated in the invoice shall be duly paid by the purchaser in South African currency without deduction, demand or set-off, to the seller.
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4. PAYMENT
(a) No amount may be deducted from invoices without seller’s written authorization.
(b) Payment for goods shall be effected on the terms set out in the invoice and such terms shall not be varied without the written approval of the seller.
(c) In the event of any payment not being effected on due date, and/or any payment in a series not being paid on due date, and/or a final order of liquidation or judicial management is granted unopposed or unrescinded for a period of 7 (seven) days after the date of entry thereof, the full amount of the purchaser’s indebtedness arising from this or any other contract between the purchaser and the seller shall immediately become due and payable notwithstanding that such amount may not yet be due and payable, and/or without prejudice to any other rights which the seller may have, it shall be entitled to cancel this agreement and retake possession of all goods supplied by the seller to the purchaser and for which goods payment shall not have been made, irrespective when the due date for payment thereof shall have arrived or not.
(d) In the event of any payment not being made on due date, interest shall be paid by the customer on such overdue payment at a rate equivalent to the maximum prevailing permissible rate of interest as provided for in the Limitation and Disclosure of Finance Charges Amendment Act No. 90 of 1968, as amended, calculated from due date to date of payment. In the event of any dispute arising in regard to the rate of interest that shall be payable, a certificate signed by the seller’s attorney confirming the rate of interest payable shall be binding on the customer and the seller.
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5. JURISDICTION
(a) The purchaser consents to the seller taking any legal proceedings arising out of the contract or any related contract with the seller’s option, either in the Supreme Court or in the Magistrate’s Court having jurisdiction, and the purchaser consents to the Magistrate’s Court having jurisdiction over any claim relating to this contract notwithstanding that the amount of such claim may otherwise be beyond the jurisdiction of such Court.
(b) This contract shall be deemed to have been executed in the Republic of South Africa, and the purchaser accepts the applicability of the laws of the Republic of South Africa.
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