- Trading Terms
J C Peacock & Company Limited
Conditions of Sale
• “Buyer” means the party who buys or has agreed to buy the goods.
• “Seller” J C Peacock & Company Limited.
• “Contract” means the agreement between the Seller and the Buyer for the supply of goods.
• “Goods” means the subject matter of the contract or goods specified.
• “Price” means the price of the goods stated on the invoice and any other payment to be made by the Buyer to the Seller under the terms and conditions.
All quotation are given and orders are accepted by the Seller on the basis of the conditions of trading set out below to the exclusion of any conditions of trading which the Buyer may purport to impose. No variation of addition to these conditions shall be valid unless in writing and signed for and on behalf of the Seller.
SEPARATE CONTRACTS Each shipment or delivery is to be treated as if it were made under a separate contract. Failure to make any particular shipment or delivery shall not entitle the Buyer to refuse to accept further shipments or deliveries in respect of which orders have been made by the Buyer.
CANCELLATION Orders may only be cancelled whole or in part with the sellers consent.
• Without prejudice to the other right and remedies, the Seller may defer or cancel any further deliveries or instalments of goods due in the event that the buyer shall:
• Fail to make any payment when it becomes due, or
• Enter into any composition or arrangement with its creditors, or
• Being an incorporated company, have an Administrator Receiver or a Receiver or similar person appointed or shall resolution for winding up or a Court shall make an Order to that effect, or
• Not being an incorporated company, the Buyer shall have a Sequestration Order made against it, or
• Be in breach of any terms or conditions hereof.
PAYMENT UNLESS otherwise agreed in writing, all prices are strictly net cash for payment by the 20th of the month following the month of the invoice date. In case of failure to pay on the due date, all sums outstanding shall become payable immediately. If any payment is in arrears the Seller shall be entitled (without prejudice to any other rights it may have) to suspend further deliveries until payment is received, whether or not such deliveries are due under the same contracts. Interest at 3% over the Bank of Scotland base lending rate shall be chargeable on overdue accounts at the Seller’s discretion.
• Unless the Buyer and Seller have specifically agreed that the price of the goods shall be fixed price, the Seller shall have the right to increase the price of the goods by giving notice of such increase at any time before despatch of the goods. If the Buyer is of the opinion that any such increase in price is unreasonable, it may therefore cancel the undelivered balance of any outstanding contract. If the Buyer does not exercise the right of cancellation, then the increased price notified by the Seller shall apply to the undelivered balance of the contract.
• All prices quoted by the Seller are subject to the addition of taxes and duties such as VAT and/or hydrocarbon oil duty where applicable, at the appropriate rates ruling at the date of despatch.
• The seller has the right to issue a supplementary invoice in respect of any increase in tax or duty between the date of despatch and the date of delivery for which the Seller may be liable to the appropriate authority.
QUANTITIES The Seller may deliver against any order hereunder up to 10% variation of the amount specified for the delivery in question in full discharge of its obligations in this respect, provided that as regards such excess or deficiency the Seller shall make a corresponding adjustment in the amount payable by the buyer.
RISK AND BENEFICIAL OWNERSHIP
• The risk in the goods passes to the Buyer upon delivery but equitable and beneficial ownership shall remain with the Seller until full payment has been received (each order being considered as a whole), or until prior re-sale in which case our beneficial entitlement shall attach to the proceeds of re-sale or to the claim for such proceeds.
• Should the goods become constituents of or be converted into other products while subject to our equitable and beneficial partnership the Seller shall have equitable and beneficial ownership in such other products as if they were solely and simply the goods and accordingly sub-clause (a) shall as far as appropriate apply to such other products.
• The Seller is hereby granted permission at all reasonable times to inspect the goods, the subject of the order, and may at the Sellers discretion collect the said goods from any place that the same are being kept upon the happening of any of the following events.
• The price of the goods being unpaid at the end of the month following the month in which the goods were delivered.
• The earlier making of a receiving order in bankruptcy against the Buyer.
• The calling of a meeting of Creditors of the Buyer under Section 98 of the Insolvency Act 1986 where the Buyer is a Limited company.
• The making of any composition with creditors by the Buyer or entering into any deed of arrangement.
• The levying of execution against the Buyer’s goods.
• The Buyer not being and incorporated is sequestrated.
• In the event of non-payment by the Buyer in accordance with the terms hereof or the buyer commits any act of bankruptcy or, if a limited company, satisfies any statutory ground for winding up by the court voluntarily (other than for the purpose of amalgamation or reconstruction) then without prejudice to any other remedies, the Seller may cancel or suspend further deliveries without prejudice to other right and the Buyer or its agents may enter the Buyer’s premises to recover all goods in respect of which property has not passed.
PACKAGES, PALLETS AND CONTAINERS
• Packages, pallets and containers supplied by the Seller either:
• Shall not be returnable to the Seller and shall be charged in full in the price, in which case the Seller may at their discretion be prepared to buy back such packages, pallets and/or containers as are in good condition, or
• Shall be returnable on free loan if agreed in advance with the Seller, but shall remain the property of the Seller, in which case must be returned by the Buyer to the supplying works within three calendar months from date of invoice and, if any such package, pallet or container is not returned in good order and condition within such period, it shall be invoiced to the Buyer by the Seller at the Seller’s standard rate then current, or
• Shall be returnable to the Seller and shall be charged in full in the price, but credit may be allowed by the Seller if they are returned in good condition, carriage paid to the Seller three calendar months from date of invoice or such other period as may be agreed.
• The Seller will specify to the Buyer which of the above sub-paragraphs should apply to the relevant package, pallet and/or container supplied.