The following shall apply to the sale of goods or services (“goods”) by Olympic Polymers Pty Ltd (ACN 026 842 120)  (“Supplier”) to another party:

• 1. DEFINITIONS
• a)

  “Customer” means a person or entity whose order for the purchase of goods is accepted by the Supplier.

• 2. INTERPRETATION
• a)

  The headings used do not form part of these terms and conditions and are for convenience only.

• b)

  Where the context admits or requires words importing the singular number shall include the plural number, those denoting a given gender shall include all other genders and those denoting natural persons shall include corporations.

• 3. GENERAL
• a)

  Unless otherwise agreed in writing by the Supplier, any terms and conditions of the Customer’s order deviating from or inconsistent with these terms and conditions are expressly rejected by the Supplier. Any variations to these terms and conditions not expressly agreed to in writing by the Supplier are expressly rejected by the Supplier.

• b)

  A quotation shall not constitute an offer to sell goods to the Customer. No Contract for the supply of goods shall exist between the Supplier and the Customer until a Customer’s order for goods has been accepted by the Supplier (such acceptance of Customer’s orders may be made and communicated by the Supplier in writing or by overt act of acceptance). The Supplier may accept or refuse any order for goods in its absolute discretion and may make its acceptance of an order conditional upon it receiving a satisfactory credit assessment of the Customer.

• c)

  The Supplier may vary these terms and conditions by notice in writing to the Customer. The Customer agrees that the purchase of any goods after the date of a notice of variation will be deemed to be an acceptance of such varied terms and conditions.

• d)

  Should there be any variation to any of the information supplied by the Customer to the Supplier or in the structure or nature of the Customer’s business (such as a conversion to or from a Company or Trust) the Customer shall forthwith notify the Supplier in writing.

• e)

  These terms and conditions and all obligations hereunder shall be binding on the Customer’s personal representatives successors and permitted assigns and shall be for the benefit of the Suppliers successors and assigns.

• 4. PRICING/PAYMENT
• a)

  Notwithstanding any prior acknowledgement by the Supplier of the price of goods, the prices specified for goods may at the Supplier’s option be subject to alterations to reflect the Supplier’s prices and charges in effect at the time of delivery.

• b)

  Any variations in the invoice or Contract price as a consequence of currency fluctuations taxes, customs duty or other imposts shall be to the Customer’s account.

• c)

  The Supplier will be entitled to set off against any money owing to the Customer amounts owed to the Supplier by the Customer on any account whatsoever.

• 5. ACCOUNT TERMS
• a)

  Unless otherwise agreed in writing by the Supplier, the Customer shall pay for all goods delivered according to the terms specified by the Supplier in the Credit Facility Approval letter.

• b)

  Credit extended to the Customer for all goods sold will be made in accordance with the terms of the Credit Facility Approval letter as agreed by the Supplier at the time the Customer’s account was established or as subsequently altered by the Supplier. In all other respects these terms and conditions will apply.

• c)

  If the customer does not pay the Supplier by the due date, the Customer may be required, at the discretion of the Supplier, to pay interest on monies due, charged on a daily basis at the rate of 16% p.a. from the due date for payment until the actual date of payment. Notice of such interest to be charged shall be given to the customer in writing prior to such interest being charged. If the Customer has an account with the Supplier, the Supplier may debit the Customer’s account monthly or at such other times it chooses for such interest.

• d)

  The Customer shall pay any legal costs (on a solicitor/client indemnity basis),stamp duties and other expenses incurred by the Supplier as a consequence of any breach of these terms and conditions by the Customer or as a consequence of the Supplier taking action to enforce any guarantee or other security documents provided by the Customer together with any collection costs or dishonoured cheque fees.

• e)

  The Supplier may withdraw the Customer’s credit facilities as noted in the schedule herein at any time or vary the Customer’s credit limit, without notice to the Customer or any guarantor of the Customer.

• 6. DEFAULT
• If:
• i)

  there is any default or failure by the Customer in making due and punctual payment to the Supplier of any moneys owing by the Customer to the Supplier; or

• ii)

  an administrator, liquidator or provisional liquidator is appointed in respect of the Customer; or

• iii)

  a receiver, receiver and manager, administrator or controller is appointed in respect of any assets or group of assets of the Customer;

• iv)

  the Customer goes into bankruptcy or is wound up; or

• v)

  the customer becomes, admits in writing that it is, or is declared by a court to be unable to pay its debts as and when they fall due, or there is a breach by the customer of any of these terms and conditions,

• Then all monies payable by the Customer to the Supplier shall at the Supplier’s election become immediately due and payable notwithstanding the due date for payment shall not have expired, and; the Supplier may without prejudice to any other rights it may have do any or all of the following:
• a)

  withdraw any credit facilities which may have been extended to the Customer;

• b)

  in respect of goods already delivered, enter onto the Customer’s premises to recover and resell the goods for its own benefit; and

• c)

  recover from the Customer the cost of materials or goods acquired for the purpose of future deliveries.

• 7. DELIVERY
• a)

  Goods will be delivered or deemed to be delivered when they are delivered to the delivery place nominated by the Customer. If no such address is nominated then delivery will be deemed to occur at the time when the goods are ready for collection at the Supplier’s premises.

• b)

  The Customer authorises the Supplier to deliver products to the place nominated by the Customer and to leave the products at such place whether or not any person is present to accept delivery. The Supplier shall not be liable on any basis whatsoever for loss suffered by the Customer after delivery to the nominated delivery place.

• c)

  Any times quoted for delivery are estimates only and the Supplier shall not be liable to the Customer for any failure to deliver or for delay in transit, fire, flood, hostility, civil commotion or any other cause whatsoever whether or not beyond the control of the Supplier.

• d)

  The Customer shall not be relieved of any obligation to accept or pay for any goods by reason of any delay in delivery.

• e)

  The Supplier reserves the right to deliver goods by instalments and each instalment shall be deemed to be sold under a separate Contract. Failure to deliver any instalment or deliver any instalment on time shall not entitle the Customer to repudiate the Contract in whole or in part.

• 8. PROPERTY AND RISK
• a)

  The goods are sold to the Customer on a FOB basis unless otherwise stated. The goods shall be at the sole risk of the Customer as soon as they are despatched from the Supplier’s premises.

• b)

  Property in and title to the goods will not pass to the Customer until those goods and all other amounts owed to the Supplier by the Customer have been paid for in full and until then the Customer will hold the goods as fiduciary and bailee for the Supplier.