Terms & Conditions

General Terms.

1.      Facility

1.1.Under this agreement, we agree to make the financed item available to you on the date of the order, provided that all conditions precedent have been met in any form and substance satisfactory to us.

2.      Repayment

2.1.In consideration to making the item available to you on credit, you agree to:

a)      Pay us the installments on the date and in the amounts specified in the repayment schedule.

b)      Without limiting the above, repay the Amount Outstanding in full on the maturity date.

2.2. You agree that each payment, will to the extent permitted by law, be made without set-off, deduction or counter claim and free from any restriction or condition. Each payment must be immediately made in and to the Bank account nominated by us.

3.      Early Payment

3.1.You may make a full repayment of the Amount Outstanding at any time. In addition, we may at our sole discretion pay you and early repayment fee in the form of cash or electronic coupons.

4.      Default Interest

4.1.If you fail to pay any amount owing us as required, interest will accrue (both before and after judgment and without the need for demand or notice) on such amount at the Default Rate (compounded monthly) until payment is received by us.

5.      Undertakings

5.1.You agree to:

(a)   Comply with all consents and obligations binding on you by law, contract or otherwise (including in relation to the use, operation, possession and location of the financed item)

(b)   Keep the financed item properly serviced and in good order and condition.

(c)    Comply with all the instructions and recommendations of the manufacturer of the item financed.

(d)   Promptly repair or bear the repair charges of any financed item that has been damaged under the period of a running contract.

6.      Default

6.1.An Event of Default occurs under this agreement if:

a)      You fail to pay any moneys payable on time;

b)      You fail to observe or perform any other term of this Document

c)      You become bankrupt or go into liquidation

d)      You die or otherwise become physically or mentally incapacitated. 

6.2. If an Event of Default occurs:

a)      We can, subject to any applicable law, without prior notice take any or all of the following actions:

1.      Call up and demand payment of the Amount Outstanding, even if not due.

2.      Take possession of the financed item or sell or otherwise dispose the financed item in such manner and on such terms as we may determine.

3.      Appoint any person or persons to be a Receiver of all or any part of the financed item.

6.3.For the purpose of this clause 6, you authorize us to:

a)      Enter into and if necessary break into any land, buildings or premises occupied by you where the item financed may be;

b)      Enter upon any other land, building or premises which you might enter upon and where any item financed may be; and

Search for, remove and take possession of any item financed without being liable in any way to you or to anyone claiming under you for so doing.