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APPLICATION FOR CREDIT FACILITIES (Incorporating Terms and Conditions and a Suretyship) with 4TECH IT SOLUTIONS cc (“4TECH IT SOLUTIONS”) Formal Name of Applicant Firm (Principal Debtor/Customer Trade Name of Firm Status of Firm (Stipulate with an "X") 1 Sole Proprietor 2. Partnership 3. Close Corporation 4 (Pty) Ltd/company Registration Number (if Close Corporation or Company) VAT Number: Telephone/Fax No's Business Address: Delivery Address: Postal Address: Contact Person //Account Department: Credit Limit required: Name & Residential Address of all Partners/Members of CC/Directors of (PTY) Ltd: (Stipulate Capacity) 1. 2. 3. Trade References: 1. 2. Bankers: Branch: Account No: I, _________________________________CERTIFY THAT:- 1 The above information is true and correct. 2 I am duly authorised to apply on behalf of the Principal Debtor for Credit Facilities with 4TECH IT SOLUTIONS cc (“4TECH IT SOLUTIONS”). 3 I know and understand the detailed terms and conditions herein and confirm that same is binding upon the Principal Debtor and myself as Surety, in terms of the Suretyship Undertaking contained herein. SIGNED and DATED at PORT ELIZABETH this the _________ day of ______________________2010. WITNESS ___________________ PRINCIPAL DEBTOR NB: Failure to complete this Application Form in full and to return same immediately, will result in delay of the processing of your Orders. WITNESS:________________ INITIAL:__________________ Page | 1 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za STANDARD TERMS AND CONDITIONS OF TRADE 1. GENERAL 1.1 These terms and conditions form the entire agreement between 4TECH IT SOLUTIONS cc (“4TECH IT SOLUTIONS”) and the customer (“the Customer”) whose name appears on the tax invoice or delivery note (“the Invoice”) for the sale and purchase of Goods or services appearing on the invoice (“the Goods”). Where a prior written agreement, credit application, surety agreement (but not a software licence agreement), exists between 4TECH IT SOLUTIONS and the Customer with respect to the Goods the provisions of that agreement shall in all cases prevail over these terms and conditions. 1.2 In the event that the customer enters into a licence to use any software and/or data comprised in the Goods or services appearing on the invoice, these terms and conditions shall continue to have effect but the terms of such licence shall be read together with these terms and conditions and in the event of a conflict then such licence terms shall, in so far as the conflict exists, prevail over these terms and conditions in the event of conflict. 1.3 Orders are accepted by 4TECH IT SOLUTIONS subject to availability of stock. 4TECH IT SOLUTIONS reserves the right to deliver the Goods in two or more instalments. 1.4 4TECH IT SOLUTIONS reserves the right to withhold further supplies in the event of any breach of any of these terms and conditions or for any other reason which 4TECH IT SOLUTIONS considers warrants such actions, in which event the customer agrees that 4TECH IT SOLUTIONS shall not be liable for any consequential damages suffered by the customer as a result of such withholding of supplies for whatsoever reason. The customer hereby indemnifies 4TECH IT SOLUTIONS in this regard in respect of all or any such claims made by third parties as a result of such withholding of supplies for whatsoever reason. 2. PAYMENT 2.1 The purchase price of the Goods shall be paid by the Customer to 4TECH IT SOLUTIONS without any deduction or set off within the period stipulated on the Invoice. 2.2 If more than one delivery is made, then each delivery will be invoiced and shall be paid for separately but otherwise in accordance with 2.1. 2.3 Whilst 4TECH IT SOLUTIONS do not extent credit to any customers in terms of the National Credit Act, 4TECH IT SOLUTIONS shall be entitled to charge interest on all overdue amounts at the maximum rate permissible from time to time for money lending transactions in terms of the National Credit Act or equivalent legislation, as amended. Such interest shall be calculated and payable monthly in advance on the first day of each and every successive month on the balance outstanding from time to time by the Customer to 4TECH IT SOLUTIONS, and shall be added to the amount due to 4TECH IT SOLUTIONS by the Customer in respect of the purchase price of the Goods/Services. 2.4 The Customer agrees that in the event of any portion of an Invoice’s indebtedness being disputed, then the Customer shall nevertheless forthwith pay the undisputed amount of such indebtedness according to the agreed terms of payment. 2.5 All Goods supplied by 4TECH IT SOLUTIONS to the Customer shall remain the property of 4TECH IT SOLUTIONS until the purchase price in respect thereof has been paid in full. 3. DISCOUNTS 3.1 The price of the Goods sold to the Customer is strictly net and not subject to any discounts or set offs unless otherwise agreed to in writing. 3.2 If any discount is agreed to in writing it shall only be allowed if payment is received by 4TECH IT SOLUTIONS strictly by the due date and shall only apply to the actual price of the Goods themselves and not to any value-added tax, transport costs, insurance, storage charges or other duties or taxes. WITNESS:________________ INITIAL:__________________ Page | 2 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za 4. DELIVERY 4.1 Delivery shall be completed when the Goods are off-loaded at the destination if the Goods are to be transported by means of 4TECH IT SOLUTIONS’s vehicle or, delivery shall be completed when the Goods are loaded if they are to be transported by the Customer or delivery shall be completed when the Goods are loaded onto a carrier engaged (whether by 4TECH IT SOLUTIONS or the Customer) to transport the Goods to the Customer, provided, however, that if the Goods are forwarded to the Customer by means of normal post, it will be assumed that the Goods were delivered to the Customer unless the Customer notifies 4TECH IT SOLUTIONS in writing within a period of 30 (thirty) days from the date of the Invoice that it did not receive the Goods. 4.2 Should 4TECH IT SOLUTIONS at the Customer’s request, agree to engage a carrier to transport the Goods to the Customer, then: (a) 4TECH IT SOLUTIONS is authorised to engage a carrier on such terms and conditions as it deems fit; (b) the Customer indemnifies 4TECH IT SOLUTIONS against all demands and claims which may be made against it by the carrier so engaged and all liability which 4TECH IT SOLUTIONS may incur to the carrier arising out of the transportation of the Goods. 4.3 The risk in the Goods shall pass to the Customer on delivery of the Goods as provided above. It is furthermore agreed that the Transport Agent acts as Agent for and on behalf of the Customer. 4.4 4TECH IT SOLUTIONS shall not be liable under any circumstances for any complaint or claim for any alleged shortage in delivery or defect in the Goods after delivery to the Customer or the customers agent. 4.5 The signature of the employee or agent of the Customer which appears on 4TECH IT SOLUTIONS’ official delivery note or way-bill or delivery note of any authorised independent carrier, shall constitute conclusive evidence of delivery of the Goods purchased. 4.6 If more than one delivery is to be made then the provisions of this clause 4 shall apply to each delivery. 4.7 Time of delivery shall not be of the essence. 5. SET OFF In the event of 4TECH IT SOLUTIONS or any holding or subsidiary or fellow subsidiary or other division of 4TECH IT SOLUTIONS, becoming indebted to the Customer, 4TECH IT SOLUTIONS may set off such indebtedness against any moneys which may be or become owing by the Customer to 4TECH IT SOLUTIONS. 6. EXCLUSIONS 6.1 4TECH IT SOLUTIONS’ liability to the Customer for any damages sustained by the Customer from any cause whatsoever including any damages arising out of 4TECH IT SOLUTIONS’ negligence or that of its servants, agents or sub-contractors shall in any event and under all circumstances, be limited to the replacement at 4TECH IT SOLUTIONS’ premises of the Goods which at the date of delivery thereof are subject to a patent defect arising from defective materials. 6.2 Except as provided in 6.1 above 4TECH IT SOLUTIONS shall in no circumstances whatsoever be liable for any loss of profit or any damage direct or indirect, consequential or otherwise sustained by the Customer whether or not caused by the negligence of 4TECH IT SOLUTIONS, its agents or employees. 6.3 Insofar as any of 4TECH IT SOLUTIONS’ obligations under the contract are carried out by any of its servants, agents, sub-contractors, associates or subsidiaries, the provision of 6.1 and 6.2 above are stipulated for their benefit as well as 4TECH IT SOLUTIONS and each of them are hereby indemnified and exempted by the customer from any such liability. WITNESS:________________ INITIAL:__________________ Page | 3 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za 6.4 The Customer shall not have any claim of any nature whatsoever against 4TECH IT SOLUTIONS for any failure by 4TECH IT SOLUTIONS to carry out any of its obligations under its contract with the Customer as a result of causes beyond 4TECH IT SOLUTIONS’ control, including but without being limited to any strike, lockout, shortage of labour or materials, delays in transport, accidents of any kind, any default or delay by any sub-contractor or supplier of 4TECH IT SOLUTIONS, riot, political or civil disturbances, the elements, any act of any State or Government, any delay in securing any permit, consent or approval required by 4TECH IT SOLUTIONS for the supply of Goods under the contract or any other authority of any other cause whatsoever beyond 4TECH IT SOLUTIONS’ absolute and direct control. 7. WARRANTY Same as provided for in clause 6.1 all the Goods are sold voetstoots and without any warranties whatsoever, whether express or implied. 8. DEFAULT 8.1 Should the Customer default in paying his account strictly on due date or commit a breach of any of the terms or conditions of his contract with 4TECH IT SOLUTIONS or; being an individual, die or be provisionally or finally sequestrated or surrender or make application to surrender his estate or commit any act of insolvency; or being a partnership, the partnership is terminated; or being a company or close corporation is placed under a provisional or final order for liquidation or judicial management; or has a judgment recorded against it which remains unsatisfied for seven days; or compromises or attempts to compromise generally with any of the Customer’s creditors; or enters into any transaction which has the effect of changing the beneficial ownership of the Customer’s business; or if the Customer is a company or close corporation enters into any transaction which has the effect of a change in the effective control of the company or corporation; then, without prejudice to any other right may have: (a) 4TECH IT SOLUTIONS shall be entitled, but not compelled, forthwith to demand that the whole amount outstanding by the Customer from whatsoever cause arising, be paid immediately; and (b) 4TECH IT SOLUTIONS shall furthermore be entitled to cancel any agreement which exists between it and the Customer and suspend the carrying out of any of its then uncompleted obligations, in which event the Customer shall have no claim or claims of whatsoever nature against 4TECH IT SOLUTIONS arising out of such cancellation or the suspension by 4TECH IT SOLUTIONS to carry out any obligations. 8.2 4TECH IT SOLUTIONS’ rights in terms of 8.1 above shall not be exhaustive and shall be in addition to its common law rights. 8.3 No relaxation which 4TECH IT SOLUTIONS may have permitted on any one or more occasion in regard to the carrying out of the Customer’s obligations shall prejudice or be regarded as a waiver of 4TECH IT SOLUTIONS’ rights to enforce its obligations on any subsequent occasion. 8.4 Upon the cancellation of the contract between 4TECH IT SOLUTIONS and the Customer for any reason whatsoever: (a) all amounts then owed by the Customer to 4TECH IT SOLUTIONS from any cause whatsoever shall become due and payable forthwith; and (b) 4TECH IT SOLUTIONS may retake possession of all the Goods in respect of which ownership has not yet passed. 9. JURISDICTION 9.1 The Customer agrees that 4TECH IT SOLUTIONS shall be entitled but not obliged to institute any proceedings against the Customer arising out of its contract with the Customer for the full balance outstanding in any Magistrate’s Court having jurisdiction over the Customer from time to time notwithstanding that the claim or the value of the matter in dispute may exceed the jurisdiction of the Magistrate’s Court. Further, the Customer agrees to be liable for all legal costs including costs on the scale as between attorney and his own client and collection charges and tracing costs. WITNESS:________________ INITIAL:__________________ Page | 4 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za 9.2 A certificate by any director or manager of 4TECH IT SOLUTIONS showing the amount due and owing by the Customer to 4TECH IT SOLUTIONS at any given time shall be prima facie evidence of the amount due by the Customer and such certificate shall be sufficient for purposes of judgment, summary judgment or provisional sentence or other legal proceedings. 10. DOMICILIUM The Customer nominates its business address as reflected on the face of the invoice as its domicilium citandi et executandi for service upon it of all notices and processes whether in connection with any claim or any sum due to 4TECH IT SOLUTIONS or otherwise. 11. NEGOTIABLE INSTRUMENTS Any promissory note, bill of exchange or other negotiable instrument received by 4TECH IT SOLUTIONS from the Customer shall not constitute a novation of the debt for which it is given and 4TECH IT SOLUTIONS. 12. RETURN OF THE GOODS If, in the exercise of its discretion, 4TECH IT SOLUTIONS shall agree, at the written request of the Customer, to accept the return of any of the Goods for credit, which Goods were correctly supplied by 4TECH IT SOLUTIONS and are not faulty or subject to any claim, 4TECH IT SOLUTIONS shall be entitled without the necessity of any further agreement to claim from the Customer a handling charge of 10%(ten per centum) of the Invoice price of the Goods so returned. 13. INSURANCE 13.1 The Customer shall at all times keep the Goods sold to it adequately insured against all forms of loss. 13.2 Pending payment to 4TECH IT SOLUTIONS for the Goods purchased, all benefits in terms of the Insurance Policy relating to the insurance of such Goods are hereby ceded to 4TECH IT SOLUTIONS. 14. LAW APPLICABLE The Laws of the Republic of South Africa are the laws applicable to this agreement. 15. CESSION OF DEBTORS 15.1 The Customer does hereby irrevocably and in rem suam cede, pledge, assign transfer and make over unto and in favour of 4TECH IT SOLUTIONS all its right, title, interest, claim and demand in and to all claims of whatsoever nature and description and however arising which the Customer may now or at any time hereafter have against all and any person, companies, corporations, firms, partnerships, association, syndicates and other legal personae whomsoever (“debtor’s debtors”) without exception as continuing covering security for the due payment of every sum of money which may now or at any time hereafter be or become owing by the Customer to 4TECH IT SOLUTIONS from whatsoever cause arising and for the due performance of every other obligation howsoever arising which the Customer may be or become bound to perform in favour of 4TECH IT SOLUTIONS. WITNESS:________________ INITIAL:__________________ Page | 5 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za 15.2 The Customer hereby undertakes that if and whenever 4TECH IT SOLUTIONS will so require, the th Customer will not later than the 7 day of every month, deliver to 4TECH IT SOLUTIONS a schedule supplied by a director of all; amounts which will have been owing to the Customer by its debtors on the last day of the preceding month reflecting thereon the amounts so owing by each debtor and the name and last known address of such debtor. 15.3 Whether or not the Customer’s debtors will have been notified of the cession of all sums of money which the Customer will collect from its debtors or any of them shall be collected and received by the Customer as agents on 4TECH IT SOLUTIONS’ behalf provided that 4TECH IT SOLUTIONS shall be entitled at any time to terminate the Customer’s payments on account of the debts in respect of which the Customer’s mandate has been terminated. 15.4 The Customer agrees that 4TECH IT SOLUTIONS shall be entitled at any time or times hereafter to give notice of this cession to all or any of the Customer’s debtors and to take such steps as they may deem fit to recover the amounts respectively owing by the Customer’s debtors to the Customer from time to time and for the time being provided that 4TECH IT SOLUTIONS shall be obliged to refund any amounts to the Customer which is in excess of the amount to which the Customer will at that stage be indebted to 4TECH IT SOLUTIONS. 15.5 The Customer warrants that 4TECH IT SOLUTIONS will at all times while this cession will remain in force be entitled through its duly authorised representatives to inspect all or any of the Customer’s records relating to any of the debts covered by the cession. 15.6 Should it transpire that the Customer entered into prior deeds of cession or otherwise disposed of any of the right, title and interest in and to any of the debts which will from time to time be subject to this cession, then this cession shall operate as a cession of all the Customer’s reversionary rights. 16. NON VARIATION 16.1 No variation, alteration, amendment or consensual cancellation of any of these terms and conditions shall be of any force or effect, unless in writing and signed by the parties hereto. 16.2 No waiver or abandonment by 4TECH IT SOLUTIONS of any of its rights in terms of this application and these terms and conditions shall be binding on it unless such waiver or abandonment is in writing and signed by it. 17. SURETYSHIP 17.1 The Customer and surety hereby acknowledge that should any amount not be paid on due date, the entire balance shall immediately become due and payable and the Customer shall pay interest at TW O PER CENT (2%) PER MONTH on overdue balance; 17.2 In the event of the 4TECH IT SOLUTIONS CLOSE CORPORATION instituting Legal Action against the Principal Debtor Customer/Surety, such party shall be liable for all Legal Fees incurred by 4TECH IT SOLUTIONS CLOSE CORPORATION, including costs between Attorney & Client. In such event of the Customer defaulting, all payments will be allocated firstly towards such Legal Costs, thereafter Interest, and finally to Capital. WITNESS:________________ INITIAL:__________________ Page | 6 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za 17.3 The Customer and Surety hereby consent to the Jurisdiction of the Magistrate's Court for all actions which may be instituted against it for recovery of any amounts owing to 4TECH IT SOLUTIONS CLOSE CORPORATION. 17.4 It is agreed between the Creditor, Customer and Surety that the Contract shall be deemed to be concluded at the relevant office of the Creditor, where the Customer's Order is accepted. 17.5 SURETYSHIP UNDERTAKING: The signatory/ies to the Credit Application, hereby bind himself/themselves jointly and severally as SURETY/IES AND CO-PRINCIPAL DEBTORS in solidum with the Principal Debtor/Customer unto and in favour of 4TECH IT SOLUTIONS CLOSE CORPORATION, such signatory/ies hereby renouncing the Benefits of Excussion and Division, for any amounts which may be now in or in the future owing to 4TECH IT SOLUTIONS CLOSE CORPORATION by the Principal Debtor/Customer; 17.6 The Principal Debtor and Surety/ies, each respectively choose their Domicilium et Executandi at the business address on the face of this Credit Application. ________________________________________ WITNESS: SURETY 1:SIGNATURE in representative capacity as well as personal capacity as SURETY _________________________________ WITNESS: PLEASE PRINT FULL NAMES CLEARLY _________________________________________ SURETY 2: SIGNATURE in representative capacity WITNESS: as well as personal capacity as SURETY _________________________________ PLEASE PRINT FULL NAMES CLEARLY WITNESS: _________________________________________ WITNESS: SURETY 3: SIGNATURE in representative capacity as well as personal capacity as SURETY _________________________________ WITNESS: PLEASE PRINT FULL NAMES CLEARLY WITNESS:________________ INITIAL:__________________ Page | 7 22 King Edward street, Newton Park, Port Elizabeth |PO Box 40136, Walmer, Port Elizabeth, 6065 phone : 041 373 7989 | fax : 086 501 7677 | www.4tech.co.za
"4T Standard Tems and Conditions"