All accounts are payable by automatic direct debit on the 20th of the month following the date of invoice. If the account is not paid within 30 days after the due date, our debt collection agent may charge you a fee equal to 25% of the unpaid portion of the price, but not less than $25.00. Where the total debt collection agency costs, legal and others costs arising from the collection of any amount owing exceeds the debt collection fee charged, our debt collection agent is also entitled to recover such additional costs from you. This clause is intended to be for the benefit of and enforceable by our debt collection agent under the Contracts (Privacy) Act 1982.

Personal Guarantee

Where the applicant is a duly incorporated company NPD reserves the right to require personal guarantees of the applicant’s directors and/or shareholders prior to the provision of goods or services. The personal guarantee shall be in the form annexed hereto.

Collateral

Collateral Type: Goods – Other

Description: Title in any Products supplied by Nelson Petroleum Distributors Ltd (NPD) passes to the customer only when the customer has made payment in full for all products provided by NPD and of all other sums due to NPD by the customer on any account whatsoever. Until all sums due to NPD by the customer have been paid in full, NPD has security interest in all products. If the products are attached, fixed or incorporated into any property of the customer, by way of any manufacturing or assembly process by the customer or any third party title in the products shall remain with NPD until the customer has made payment for all products and where those products are mixed with other property so as to be part of or a constituent of any new products, title to these products shall be deemed to be assigned to NPD as security for the full satisfaction by the customer of the full amount owing between NPD and customer. The products supplies include all petroleum and solvent products, fuel storage tanks and bunds and associated pumping equipment.

I, the applicant, specifically Agree and Acknowledge with Nelson Petroleum Distributors Ltd (NPD) as follows: That NPD hereby informs me that it may disclose to a credit reporting agency certain personal information about me including; information contained in this application; my identification; the amount of credit applied for; payments which may become more than 60 days overdue; advice that payments are no longer overdue; a serious infringement which NPD believes I have committed. That NPD in assessing this application and any later request for a credit limit increase, may obtain from a credit reporting agency a credit report containing personal credit information about me and, a credit report containing information about my commercial activities or commercial credit worthiness.

NPD may give to and obtain from any third party, information about my personal or commercial credit arrangements including information about my credit worthiness, credit standing, credit history or credit capacity for the particular purpose for which the information is required.