Application for Credit Facilities

Terms and Conditions

  1. The granting, continuation and termination of the credit facilities, if any, shall be within the sole discretion of Redland Engineering CC (THE COMPANY).
  2. All accounts shall be paid in full before the 30th day of the month following the month of statement.
  3. Interest shall be paid by the Applicant to the COMPANY on all overdue accounts at the Maximum permissible rate in terms of the Usury Act
  4. . The Applicant shall forthwith notify the COMPANY in writing of any changes of any of the information set out in the Application of Credit Facilities.
  5. No relaxation, or indulgence which the COMPANY may grant to the Applicant shall Constitute a waiver of its right to enforce strict compliance with these conditions.
  6. In any dispute arising out of these conditions or between the COMPANY and the Applicant, the COMPANY shall, at its option, be entitled to institute proceedings in any Magistrate’s Court which otherwise has jurisdiction notwithstanding that the amount in issue may exceed the limits of such jurisdiction. The Applicant hereby consents to such jurisdiction of the Magistrate’s Count.
  7. The Applicant hereby appoints the address appearing in the Application for Credit Facilities as it’s domicilium citandi et executandi for all purposes in connection with or arising from this Application.
  8. The Applicant shall pay any costs incurred by the COMPANY as a result of any breach by the Applicant of these conditions or any failure by it to pay any amount on due date on the scale as between attorney and client, whether or not action is instituted. Such costs shall include any collection commission, which the COMPANY is required to pay to it’s attorneys as well as any V.A.T. or other levies incurred as a result af any action taken by the COMPANY.
  9. No person other than a member of any COMPANY has any authority to contract on the COMPANY’S behalf on any terms and conditions other than those contained herein.
  10. No terms and conditions contained in any order or other document issued by the APPLICANT shall be valid and no variation of these conditions shall be binding upon the COMPANY unless reduced to writing and signed by a member of the COMPANY and the APPLICANT.
  11. Payment terms are STRICTLY 30 DAYS NETT.