General Terms and Conditions of Contract of IMPACT DISTRIBUTION “vendor”

Unless otherwise expressly agreed all sales of the Vendor’s products are made on the following terms and conditions and these terms and conditions shall be implied in each order for the sale of those products:

Payment

Payment of the purchase price and all other amounts in respect of each order is due on the 20^th day of the month following the date of invoice or delivery, whichever is the earlier.

Unless otherwise agreed, all payments must be in cash without right of deduction or set off. Time shall be the essence in payment.

The purchase price is based ex warehouse or factory and unless otherwise shown or stated is exclusive of GST and other taxes, charges or levies, insurance, packaging and freight, all of which shall be additional charges to the customer.

The purchase price may be increased by the vendor to account for any change in NZ:US dollar exchange rate to the extent that such change affects the costs of manufacture or supply of the products to the customer between the date of order and delivery.

The Personal Properties Securities Act 1999, Title and Risk

Title in the products does not pass in any circumstances until payment of the purchase price and all other amounts is made in full in respect of those products. It is expressly agreed that title to the products does not pass upon delivery or the giving and taking of possession, the vendor reserves the right to recover possession of the products and to enter upon the customer’s premises witout notice for such purpose in the event of any default in payment. The customer grants to the vendor a security interest in all goods supplied under this contract and their proceeds. At the request of vendor, the customer will execute any documents and do anything else the vendor requires to ensure the security interest created under these terms and conditions constitutes a first ranking perfected security over the goods and their proceeds of sale and the customer will supply all information the vendor requires to complete the financial statement or a financing change statement. The customer waives any right to receive a verification statement under the Act. The vendor and the customer agree that sections 114(1)(a), 116, 117(1)(c), 119, 120(2), 121, 125, 126, 127, 129, 131, 133 and 134 of the Personal Properties Securities Act 1999 do not apply to the security created by these terms and conditions.

Notwithstanding that title does not pass, risk in the product passes upon the product being uplifted by or dispatched to the customer even if payment has not made in full.

Warranties

No warranties, representation or guarantees are given, made or implied in respect of the products except as stated herein or as may be required or implied by law.

The customer is deemed to have accepted each order unless written notice of any shortage, defect or other reason for non-acceptance is given within 10 days of the date of delivery. Liability in such circumstances is limited where appropriate to the replacement of missing or defective products or the refund of an appropriate portion of the purchase price at the option of the vendor.

The customer relies upon its own inquiries and examination of the products and upon such independent advice or consultation as the customer may require for that purpose and purchases the products upon the customer’s own independent knowledge, skill and judgement, particularly as to the particular use or suitability of the products for the customer’s purposes and to all other characteristics and specifications of the products.

Where the goods and services supplied are for the purpose of a business, the customer acknowledges that the guarantees in the Consumer Guarantees Act 1993 do not apply.

Where the products have been manufactured by the vendor then the vendor will manufacture the products to a good standard using materials, parts and workmanship in products manufactured by other parties.

The vendor is not responsible for failure or deterioration of the products where the products have been affected by improper handling or storage, contamination or other adverse conditions, alteration or interference by other parties, the use or application of the products outside the normal or intended purposes of the products or outside the directions or limitations imposed by the manufacturer, supplier or vendor or otherwise in an improper or abnormal manner or circumstances outside the control of vendor.

Except where the Consumer Guarantees Act 1993 applies it is expressly agreed that the vendor is not liable for any consequential or economic loss arising from any defect in products or otherwise in respect of the products or any failure to deliver(whether or not arising from the supplier’s negligence) and the customer shall protect the vendor from any claim or demand from other parties in respect of the use or application of the products by the customer or subsequent purchasers or uses of the products.

The vendor is not liable for any amount which exceeds the purchase price or other amounts actually paid for the products by the customer.

Intellectual Property Rights

The customer does not, by reason of the purchase of the products, acquire any rights to the copyright, patent, trademark, design and other intellectual property rights held by the vendor therein.

No liability is accepted for products which have been manufactured under the directions or specifications of the customer and the customer shall protect the vendor from any claims for infringement of the intellectual property rights of the third parties which might result. Where the manufacture is at the request of customer, copyright in the product remains the property of vendor and the purchaser may use the article as licensee.

 

General

The sale of the products shall be limited to the manufacturing capacity of the vendor, the availability of the materials, components and labour, the ability to source the products from the manufacturer or supplier, and to other circumstances outside the reasonable control of the vendor.

The customer shall permit the supply of the customer’s name and details of the sale of the products to the customer for statistical and credit reporting purposes for the benefit of members of the New Zealand Gift Trade Association Inc.

The sale of the products to the customer is on non-exclusive basis and the vendor has the right to sell the products to other parties at such process and terms of sale without limitation on each occasion.

If the customer defaults in payment or in any other terms or conditions in the sale of products, or is placed in receivership, wound up, declared bankrupt or otherwise become insolvent, or if any such events be seen as imminent or inevitable by the vendor then in addition to any other rights or remedies, the vendor reserves the right to demand the immediate payment of the purchase price and other amounts then unpaid even if not otherwise due for payment and to cancel or suspend the completion of the sale of the products or other orders of the customer not then completed.

The customer shall ensure, where it is lawful to do so, that in its own terms of trade it excluded liability both to itself and to the vendor under the Consumer Guarantees Act 1993.

If the Customer fails to pay moneys owing to the vendor when due for payment then the vendor reserves the right to charge interest on those amount, until payment is made, at the current base overdraft rate of the vendor’s bankers plus 3% calculated daily and payable on demand.

If the customer defaults in performing its obligation under this agreement and the vendor incurs cost in enforcing its rights under this agreement, the customer shall pay those costs (including commissions, all legal cost and disbursements, and any other costs incurred in the recovery of the debt) to the vendor or it’s duly authorised agent on demand.

The above terms and conditions have effect except as expressly modified or inconsistent with any other express terms and conditions made between the vendor and customer from time to time in respect of sales of the products.