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Universal Cables (Pty) Ltd Head Office P.O. Box 21335 Helderkruin 1733 No 13 Aschenberg Street Chamdor Krugersdorp 1739 Tel: 011 769 1394/5/6/7 Fax: 011 769 1490 / 086 509 2319 E-mail: email@example.com Web Page: www.universalcables.co.za APPLICATION FOR CREDIT INCORPORATING CESSION OF BOOK DEBTS AND SURETYSHIP Company Name: ______________________________________________ Date of Application: ____ ___/__ ___/ 20________ 1 1. Registered name of applicant __________________________________________________________ Trading as_________________________________________________________________________ (Hereinafter referred at as the Debtor and/or Customer) 2. State whether: Sole Trader Partnership Registered Company Close Corporation 3 If applicant is a registered company: 3.1 Registration No / Certificate of incorporation No:_______________________________________ 3.2 Date of incorporation ____________________________________________________________ 3.3 Address of registered office _______________________________________________________ 3.4 Vat registration No: (Please attach copy) ____________________________________________ 3.5 Issued share capital _____________________________________________________________ 4 Financial statements – Balance sheet attached Yes No 5. Street address: _____________________________________________________________________ _________________________________________________________________________ 6. Postal address:______________________________________________ Code: _________________ 7. Telephone No: (_____)_________________________ Fax No (_____) ________________________ Mobile Phone No: (_____)_______________________ Email address _____________________________________________________________________ 8 DIRECTORS / PARTNERS / PROPRIETORS AND SHARE % NAME ID No TELEPHONE ADDRESS % 8.1 8.2 8.3 8.4 8.5 9 How long have the present Directors/Partners/Proprietors been in control of the business ___________________________________________________________________________________ 10 DETAILS OF HOLDING COMPANIES 10.1 Registered street address: ______________________________________________________________________________ 10.2 Registered Postal address __________________________________ Code: ________________ 10.3 Telephone No: (_____) ________________________ Fax No: (_____)_____________________ Mobile No: __________________________________ Mobile No:_________________________ Email address:_______________________________________________________________ Webpage: http://www.______________________________________________________ 2 NAME OF BANKERS 11 11.1 Business Name of Bankers _________________________________________________ Account number _____________________________ Branch Code __________________ 11.2 Private Name of Bankers _____________________________________________________________________ Account number _____________________________ Branch Code ___________________ 12 TRADE REFERENCES (Excluding Subsidiary, Fellow Subsidiary or Related companies) NAME TELEPHONE 13 Estimated Monthly Requirements R __________________________________________________ 14 Maximum Credit Limit Required R __________________________________________________ 15 Security offered to substantiate limit _____________________________________________________ FOR OFFICE USE ONLY SALES REP. No: ( ) General data Group Key Customer Class Industry Terms of Payment Company code data Sales District Sales Office Sales Group Customer Group Price Group Price List type Sales Area Data Incoterms Tax liability Delivery address 1 Delivery address 2 Representative Employee No Starting date 3 16.1 DEFINITIONS CLAUSE In this agreement unless the context otherwise requires, the words, expressions and phrases set out below have the meanings hereunto ascribed to them 1.1 “the Seller” – Universal Cables (PTY) Ltd 1.2 “the Seller” – Universal Cables (PTY) Ltd 1.3 “the goods” – The goods sold by the Seller to the Buyer from time to time 1.4 “the price” – The Seller’s usual selling price of its goods. 16.2 BINDING CONTRACT 2.1 These conditions together with the particulars recorded on the face hereof constitute the entire Agreement between the parties, who record that no representation or warranties other than those contained herein have induced them to conclude this contract. 2.2 No amendment, variation or consensual termination of this contract or any of the terms or conditions hereof shall be binding on Seller unless reduced to writing and signed by a director of the Seller 2.3 No relaxation or indulgence granted to the Buyer by the Seller shall constitute a waiver of any of the Seller’s rights or novation of this contract or any part thereof and shall not stop the Seller from exercising any rights in terms or at law. 16.3 PRICE 3.1 The price of the goods sold shall be the Seller’s usual selling price and shall be the price as stated in the Seller’s Order form and/or any other stationery. 3.2 The price as stated is exclusive of Value Added Tax 3.3 Notwithstanding the provisions of paragraph 2.2 and 3.1 if prior to delivery and/or dispatch of the goods, there is any increase, for whatsoever reason in the Seller’s cost of materials or components or in the statutory labour charges, the price of the goods may be increased proportionately and the Buyer undertakes to pay such increased price. The amount of the increase shall be certified by the Sellers financial controller and such certificate shall be final and binding on the Buyer. 16.4 PAYMENT 4.1 Payment of the price is to be effected within thirty (30) days from the date of the Seller’s statement regardless of whether or not the invoice has been received by the Buyer. In the event of the Buyer disputing the amount reflected on any statement then, pending the Seller’s investigation of the Buyer’s dispute, the Buyer shall immediately be obliged to make payment to the Seller of the amount of the goods already received which are reflected in that statement. 4.2 The price shall be paid at the Seller’s premises, or wherever directed by Seller, free of exchange and without deduction for any reason whatsoever. Payment by post is at the risk of the Buyer. 4.3 The Buyer shall be liable to pay interest to the Seller on all overdue amounts at the maximum permissible legal interest rate prescribed by law. 4.4 In the event of the Buyer failing to make payment of any amount due by it to the Seller in terms hereof or in terms of any agreement or agreements made between it and the Seller on due date, then the full amount owed by the Buyer to the Seller from whatsoever cause arising shall forthwith and without notice become due and payable notwithstanding that the due date for payment thereof shall not otherwise have arrived. 4.5 Non-payment by the Buyer as hereinbefore mentioned shall give the Seller the right to cancel all deliveries still to be made under this agreement without notice having to be given to the Buyer and without prejudice to the Seller’s right to compensation from the Buyer. 4 16.5 DELIVERY 5.1 Whilst the Seller shall make every effort to effect delivery of the goods timeously 5.1.1 The Buyer shall not be entitled to terminate this contract by reason of the failure of the Seller to deliver the goods upon due date it being expressly agreed that time is not of the essence in this agreement; 5.1.2 The Seller shall be entitled to make part deliveries 5.1.3 The Seller shall not be responsible for non-delivery of goods and/or for delays in delivery occasions by acts of God, force majeure, strike, transport delays, riots, civil commotion, transport breakdown, restrictions or prohibition imposed by government, war, trade disputes, fires, floods, breakdown of plant and machinery, breakdown of means of delivery, difficulties with the supply of raw materials and without in any way limiting the aforegoing, by any course beyond the Seller’s control. 5.1.4 The Seller shall not be liable for any damages sustained by the Buyer or any other party, consequential or otherwise, arising from the non-delivery of the goods for any reason whatsoever including the negligence and/or fault of the Seller. 16.6 BREACH 6.1 Should the Buyer fail to make payment to the Seller on due date or fail to honour any of its obligations in terms hereof on due date, or should a judgment be granted against the Buyer or should the Buyers estate be liquidated/sequestrated/placed under Judicial Management, provisionally or finally or should the Buyer propose an offer of compromise or offer of composition to its creditors or ask any of them, or if a company, should its shareholders wind-up the Business, the Seller shall be entitled, without prejudice to its other rights in terms hereof or at law to: 6.1.1 Terminate this contract whereupon the Seller shall not be obliged to deliver any further goods to the Buyer and the Buyer shall be obliged forthwith, without notice, to make payment to the Seller for all Goods already delivered to the Buyer, pursuant hereto or, in the discretion of the Seller, to return such goods to the Seller; or 6.1.2 Obtain payment from he Buyer of the full amount owing by the Buyer to the Seller in terms hereof and from whatsoever other cause arising notwithstanding that the due date for payment thereof would not otherwise have arrived in which event the Seller shall be entitled to withhold delivery of the goods subject to payment of all such amounts having been made: and 6.1.3 In the event of termination of this contract and the Seller repossessing any of the goods, the Seller shall be entitled to set off the valuation of the repossessed goods against the amount owing by the Buyer and the value of the repossessed goods will be deemed to be the value placed thereon by any sworn valuator appointed by the Seller and shall be conclusive proof of the value thereof 6.1.4 In any of the events mentioned above the Seller shall incur no liability to the Buyer for damages and the Buyer shall be liable to the Seller for such damages as the Seller may have suffered by reason of the Buyer’s breach and/or the exercise of the Seller’s rights aforesaid, including all wasted delivery costs suffered by the Seller. 16.7 OWNERSHIP 5 Ownership in respect of the goods and in respect of all goods sold by the Seller to the Buyer from time to time is reserved to the Seller until such time as payment of all amounts due, owning and payable by the Buyer to the Seller form whatsoever cause arising shall have been paid to the Seller in full. On request by the Seller, the Buyer shall inform the Landlord of the premises at which the goods are delivered to the Buyer and which remain the property of the Seller in terms hereof are stored, or the Seller’s rights therein and shall inform the Seller of the name and address of such Landlord from time to time. 16.8 EXCLUSION OF WARRANTY AND LIABILITY 8.1 The goods are sold voetstoets and no representation or warranty is made by the Seller as to the fitness of the goods for the purpose for which they are intended. 8.2 The Seller shall under no circumstances be responsible for any consequential or other loss or damage suffered by the Buyer or any third party by reason of the Seller’s failure to carry out its obligations in terms hereof or by any reason of the goods being defective in any manner whatsoever. 8.3 Without prejudice to any of the Seller’s rights in term hereof, or at law, the Buyer shall be deemed to have abandoned any rights which it may have arising from the supply of defective goods, unless the Buyer has given to the Seller written notice within fourteen (14) days of the goods having arrived at the final destination, which notice must be in writing and given by the Buyer to the Seller at the Seller’s address stated on the face hereof, in which notice the Buyer sets forth full reasons as to why the goods are not in accordance with the contract. 16.9 PROOF OF INDEBTNESS The Buyer agrees that the amount due and payable to the Seller may be determined and proven by a certificate issued by the Seller and signed on its behalf by any duly authorized person, which authority need not be proven and such certificate shall be binding and shall be prima facie proof of the indebtedness of the Buyer. 16.10 LEGAL COSTS In the event of the Seller instructing its Attorneys to recover money or goods from the Buyer, the Buyer agrees to be liable for and shall pay to the Seller and/or their Attorneys, all legal costs incurred by the Seller on the Attorney and own client scale, including the Attorneys charges in respect of collection commission and any tracing charges which may be incurred, together with all Counsel’s charges actually incurred by the Seller and not at the restriction placed on same by tariff or Taxing Master. 16.11 RETURNED GOODS Any goods returned due to an error in ordering by the Buyer will be accepted for credit solely at the discretion of the Seller and will be subject to a 10% handling charge to paid by the Buyer. No cut lengths of cable will be accepted for credit. 16.12 WITHDRAWAL OF CREDIT FACILITIES The Seller hereby reserves the right, in its sole discretion, to withdraw the credit facilities afforded to the Buyer, for any reason it may deem necessary. 16.13 JURISDICTION IN DISPUTES 13.1 For the purpose of all or any proceedings herein, the Buyer hereby consents to the jurisdiction of the Magistrate’s Court having jurisdiction under Section 28 of the Magistrate’s Court Act of 1994, as amended, notwithstanding that the amount in dispute exceeds the jurisdiction of such court 13.2 Notwithstanding the aforegoing, the Seller shall have the right, at its sole option and discretion to 6 13.2.1 Institute proceedings in any other competent Court which might otherwise have jurisdiction; alternatively 13.2.2 At its sole and absolute discretion submit the matter to arbitration by giving the Buyer ten (10) days written notice of its election to do so, in which event the matter shall be determined before an Arbitrator appointed by the Chairman of the Johannesburg Bar Council whose decision shall be final and binding upon the parties. 13.3 This contract shall be subject to the jurisdiction of the South Africa Courts and shall be subject to South African Law. 16.14 DOMICILIUIM The Seller and Buyer hereby choose as their domicilium citandi et executandi the addresses set out on the face hereof and agree that all notices and proceedings arising out of or in connection with this agreement may be served at the address. The Buyer is obliged to notify the Seller of any change of their address, within seven (7) days of such change of address. 16.15 CESSION OF BOOK DEBTS 15.1 I/We hereby irrevocably cede, assign and transfer, make over unto and in favour of the Seller all the Buyer’s rights, title and interest in and to it’s claims against it’s debtors, both present and future and from whatsoever cause arising, as security for all or any of the amounts which the Buyer may now or at any time in the future owe to the Seller. 15.2 I/We and/or the Buyer irrevocably and in rem suam authorize the Seller in its absolute discretion to claim from all or any of its debtors the whole or any portion of the indebtedness of any one or more of them give a valid receipt or discharge for such indebtedness, to take any action in its name in any Court or competent jurisdiction and to proceed in execution there under against all or any of the said debtors, to cede transfer, negotiate, pledge or otherwise deal with all of the said debtors, to exchange promissory notes, cheques, agreements, documents of title or any other security held by the Buyer. 15.3 The security created by the cession shall be a continuing one, notwithstanding any fluctuation in the amount of the indebtedness of the Buyer to the Seller. 15.3.1 The Buyer hereby undertakes on demand, to furnish the Seller with such information concerning its debtors as may reasonably be required, to enable the Seller to give effect to the provisions above. 16.16 SEVERABILITY Each clause hereof separable one from the other and if any clause hereof is found by any court to be unenforceable for whatsoever reason the remaining clauses will continue to be of full force and effect 16.17 CONFIDENTIALITY AND CONSENT CLAUSE 17.1 The Buyer hereby authorizes the Seller at all times hereinafter to furnish any information which the Seller has on record, regarding the creditworthiness of the Buyer, to any persons seeking such information for trade reference purpose only and/or to any credit bureaux. 17.2 The Buyer hereby consents to the Seller accessing and investigating the personal information given herein for purposes of assessing the Buyer’s creditworthiness. The Buyers confirms that the information furnished herein is accurate and complete and furthermore undertakes to update this information on request by the Seller. 17.3 The Buyer hereby consents to the Seller at all times hereinafter communicating with and requesting information from any persons, including but not limited herein, for the purpose of obtaining information pertaining to the Buyer’s creditworthiness. The Buyer agrees that any such information obtained by the Seller is for the Seller’s records only and need not be disclosed to the Buyer. SIGNED AT _______________________________________ this _________Day of_____________________20_____ 7 Signed for and on behalf of the Buyer and by my (NAME IN BLOCK LETTERS) signature I confirm that I have read and agreed to the above conditions and I warrant that I am authorized to represent the Buyer SIGNED AS WITNESS (NAME IN BLOCK LETTERS) 16.18 SURETYSHIP I/We the undersigned by my/our signature/s hereto interpose and bind myself/ourselves as sureties and co-principal debtors in solidum, in favour of the Seller for the due performance of all obligations of the Buyer. I/We hereby renounce all the benefits of the legal exceptions, cession of action, non causa debti, excussion, division, no value received and revision of accounts, with the full force, meaning and effect whereof I declare myself to be fully acquainted. SIGNED AT _______________________________________ this _________Day of_____________________20_____ Signed by me in my personal capacity and I (NAME IN BLOCK LETTERS) Confirm that I have read, understood and agreed to this suretyship condition. 8 The FICA act requires all credit providers to comply with and implement the following measures. No Application for Credit facilities will be considered if the original signed credit application is not accompanied by the following: 1. Certified copy/s of the I.D. Document/s of the person/s responsible for the account. 2. Copy of a recent Utilities Bill (Water & Lights/Rates & Taxes) for proof of residence. 3. Original SARS Tax Clearance Certificate and/or Certified SARS Tax Registration Certificate. 4. Cancelled Original Cheque 5. Cancelled Official Order Document 9 10
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