CA.1  Account Application and Approval

CA.1.1  Applications for a Credit Account must be submitted in writing using the Company's standard account application form. The Company shall review each application at its absolute discretion and may decline any application without giving reasons.

CA.1.2  The Company may at any time require financial references, credit checks or other information from an applicant or existing Credit Account holder as a condition of granting or maintaining a Credit Account.

CA.1.3  Where the applicant is a limited company, the Company reserves the right to require a personal guarantee from a director of the applicant company as a condition of account approval.

 

CA.2  Credit Limits and Payment Terms

CA.2.1  The Company shall set a credit limit for each Credit Account, which may be varied at any time by written notice. The Customer shall not allow the outstanding balance to exceed the credit limit.

CA.2.2  Unless otherwise agreed in writing, all invoices issued by the Company shall be payable within 30 days of the invoice date, without any deduction, set-off or counterclaim.

CA.2.3  Any query in respect of an invoice must be raised in writing within 7 days of the invoice date. An undisputed portion of any invoice shall remain payable in full by the due date.

CA.2.4  If the Credit Account balance is not settled in full by the due date, the provisions of Clause 5.4 of the Master Conditions apply, including the accrual of interest under the Late Payment of Commercial Debts (Interest) Act 1998.

 

CA.3  Liability for Account Bookings

CA.3.1  The Customer is fully liable for all Charges arising from all Bookings made on its Credit Account, whether made by the Customer, an employee, agent, approved third party or any person purportedly acting on the Customer's behalf.

CA.3.2  The Customer shall maintain adequate internal controls to prevent unauthorised use of its Credit Account. The Company shall not be responsible for any unauthorised Booking and shall be entitled to invoice the Customer for all Charges arising therefrom.

CA.3.3  All Bookings billed to a Credit Account are chargeable regardless of whether a dispute has been raised in respect of any other Booking. No Booking shall be withheld from billing by reason of any dispute.

 

CA.4  Account Suspension and Termination

CA.4.1  The Company may suspend or terminate a Credit Account immediately and without notice in the following circumstances:

• failure to pay any invoice by the due date;

• the Customer entering into any insolvency procedure, including administration, liquidation, receivership or entering into a company voluntary arrangement;

• a material breach of any term of these Conditions;

• a material deterioration in the Customer's credit standing or financial position; or

• where the Company in its reasonable judgment considers that continued operation of the Credit Account presents a material credit risk.

CA.4.2  Upon suspension or termination, all outstanding invoices shall become immediately due and payable in full. The Company shall be entitled to charge for any Booking confirmed prior to suspension or termination.

 

CA.5  Consolidated Monthly Billing

CA.5.1  The Company shall issue consolidated invoices to Credit Account holders on a monthly basis, or such other basis as agreed. Each invoice shall itemise all Bookings, Charges and VAT applicable in the relevant period.

CA.5.2  The Customer shall provide the Company with all information necessary to enable accurate consolidated billing, including cost centre codes, purchase order references and other administrative requirements.