Terms of Contract

  1. In these Terms of Contract "Goods" means all Goods supplied to the buyer either under this invoice or under any invoice for goods supplied between the Seller and the Buyer.
  2. Unless and until payment in full for all the goods has been received by the Seller in accordance with the terms of this Contract, the ownership of the goods shall not pass to the Buyer but shall remain with the Seller who reserves the right to dispose of the goods. If such payment is overdue in whole or in part the Seller may recover or resell the goods or any of them and may by their servants or agents enter upon the Buyer’s premises for that purpose. Such payment shall become due immediately upon the commencement of any act or proceeding in which the Buyer’s solvency is involved.
  3. Unless and until payment in full for all the goods sold pursuant to this contract has been received by the Seller, any other goods manufactured out of such goods or into which such goods are incorporated will be and remain in the sale and absolute ownership of the Seller who may recover or sell the goods or any of them and may by their servants or agents enter upon the Buyer’s premises for that purpose.
  4. Notwithstanding that payment in full has not been made by the purchaser to the Seller, the purchaser may sell the goods sold pursuant to this contract or any other goods manufactured out of such goods or into which such goods have been incorporated. Such sale sell  be effected by the Buyer as agent for and on behalf of the Seller, and the Buyer shall account strictly to the Seller for such proportion of the proceeds of sale thereby realised as shall be necessary to satisfy the unpaid purchase price of the goods sold pursuant to this contract.