Terms and Conditions
Currency - All items are priced in New Zealand Dollars and are exclusive of GST
TERMS OF TRADE - Credit Customers
1. D C Rosser & Co Ltd payment terms for all goods and materials (“Goods”) supplied, are strictly settlement by the 20th of the month following purchase.
2. The legal beneficial and equitable property in all of the goods supplied or delivered by D C Rosser & Co Ltd will only be transferred to the purchaser when the purchaser has met all debts, accounts and monies owing to D C Rosser & Co Ltd no matter on what grounds, including costs involved in the recovery of such debts, accounts and monies.
3. Until the date of such payment, the purchaser acknowledges and declares that it will fully insure the Goods and store the Goods supplied in such a manner that the Goods remain clearly the sole and absolute property of D C Rosser & Co Ltd.
4. Nevertheless the purchaser shall be entitled to sell these Goods to a third party within the framework of the normal carrying on of its business and to deliver them to a third party, upon the condition that any proceeds from or rights of action, in respect of such a sale shall be the absolute property of D C Rosser & Co Ltd, until such time as the purchaser has met all debts, accounts, and monies owing to D C Rosser & Co Ltd, no matter on what grounds.
5. The said proceeds of sale or rights of action shall be applied, or employed, in payment of amounts owing by the purchaser to D C Rosser & Co Ltd, no matter on what grounds.
6. The purchaser acknowledges that D C Rosser & Co Ltd holds a “security interest” in the Goods and any proceeds of the sale of the Goods pursuant to section 17 of the Personal Property Securities Act 1999 (“the PPSA”) and that D C Rosser & Co Ltd may register a financing statement in respect of the Goods and any sale proceeds in accordance with the provisions of the PPSA.
7. The purchaser waives its rights to receive a verification statement in respect of any financing statement or financing change statement registered by D C Rosser & Co Ltd under the PPSA and agrees that as between D C Rosser & Co Ltd and the purchaser, the purchaser shall have no rights under (or by reference to) sections 114(1)(a), 116, 117(1)(c), 119, 120(2), 121, 125, 129, 131, 132, 133 and 134 of the PPSA and where D C Rosser & Co Ltd has rights in addition to those in part 9 of the PPSA, those rights shall continue to apply.
8. D C Rosser & Co Ltd shall be entitled to apply or appropriate any payments to any account of the Customer. Should the Customer have a number of accounts D C Rosser & Co Ltd may combine any accounts and offset any amount between accounts.
9. Where any payment is not made within 30 days of the due date, then without prejudice to any other rights or remedies available to D C Rosser & Co Ltd under these terms and conditions or at law or in equity or otherwise, D C Rosser & Co Ltd may charge default interest on all overdue accounts at the rate of 1.9% per month calculated on a daily basis from the date on which payment was due until payment is made.
11. The purchaser shall upon demand reimburse D C Rosser & Co Ltd for all costs (including legal costs on a solicitor/client basis), expenses or other sums incurred by D C Rosser & Co Ltd in the recovery of any moneys due, which sum shall also carry interest at the rate of 1.9% per month calculated on a daily basis if unpaid within one calendar month of demand having been made.
12. D C Rosser & Co Ltd shall not be liable to the purchaser or any other person for any indirect or consequential loss or damage of any kind arising out of defective goods or any breach by D C Rosser & Co Ltd of its warranties or conditions or obligations under these terms and conditions or negligence or otherwise. Regardless of the legal basis of any claim, D C Rosser & Co Ltd’s maximum liability to the purchaser under any circumstances is limited to a sum not exceeding the invoiced value of the goods in relation to which the claim relates.