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Ts and Cs of Trade Incorporating Deed of Suretyship


TERMS AND CONDITIONS OF TRADE INCORPORATING DEED OF SURETYSHIP

  1. Sale of Fuel Oils and Lubricants Should BB Energy (Pty) Ltd (“BB Energy”) agree to sell Fuel Oils and or Lubricants (“goods”) on account on the terms of this agreement.
  2. Payment All accounts from BB Energy (unless stated otherwise by BB Energy in writing), are payable on date of purchase (Prepaid Account), in full, without setoff or deduction. All payments, received from or on behalf of the Customer, shall be applied in repayment of first, legal costs, thereafter interest and lastly capital, as the case may be.
  3. Credit limit exceeded Any Credit limit which BB Energy may determine is an internal financial decision of BB Energy and such limit shall not be a term of this agreement. It is exclusively within the discretion of BB Energy to grant credit with or without reference to a credit limit.
  4. Interest The Customer agrees to pay interest on all overdue accounts at a rate of 18.5% per annum which interest shall be calculated monthly and annually capitalized;
  5. Costs In the event of BB ENERGY having to institute legal action to recover any amount in terms hereof, the Customer shall be liable for payment of all such legal costs on the scale as between attorney and client as well as collection commission of 10% on all payments made.
  6. Jurisdiction The Customer grants herewith its consent to the Magistrate’s Court having jurisdiction in the event of legal action being taken arising out of a dispute relating hereto, irrespective of the amount applicable;
  7. Domicilium The Applicant chooses as its domicilium citandi et executandi for the service of all notices and process in regard to any legal actions pertaining to this agreement, the addresses supplied on page one hereof.
  8. Certificate of Indebtedness Any certificate issued under the signature of any manager/credit controller of BB Energy (whose capacity need not be proven), that certifies the amount due, shall be accepted as prima facie proof of such indebtedness and the Customer accepts the onus of disproving the amount so stated should the outstanding amount be disputed.
  9. Ownership and Risk Ownership in and to the goods sold in terms hereof remain vested with BB Energy despite delivery thereof, until all outstanding monies have been paid. The risk of loss in respect of goods sold, shall pass to the Customer upon delivery thereof. Delivery shall be deemed to be effected upon the goods leaving the premises of BB Energy.
  10. Exceptions To the extent that they are tenable in terms of the National Credit Act (Act 34 of 2005) (if applicable), the Customer hereby expressly renounces the benefits of the of the following special pleas (i) that there is no proper cause for the debt due; (ii) that the debt is to be split amongst joint debtors; (iii) that the sum due is incorrectly calculated; (iv) that the accounts should be debated or corrected; and (v) that no value was received;
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  11. Cession The Customer hereby cedes to BB Energy its right, title and interest in and to all its book debts, both future and present of each and every kind, as security for the indebtedness of the Customer to BB Energy arising from this agreement.
  12. Indemnity The Customer hereby indemnifies and holds BB Energy harmless against all loss or damage, from any cause arising relative to the sale of the goods Without derogating from the generality hereof, the Customer shall have no valid claim against BB Energy, failing written notice within 5 days of sale of the goods, in the absence whereof the goods will be accepted to be in a good and uncontaminated condition.
  13. Credit Checks The Customer agrees and herewith gives its consent that BB Energy may do credit checks and enquiries on it, its principles and the sureties, with credit bureaus, banks or any other institution, for any purpose emanating from this agreement. BB Energy may list any default account on the credit-bureau data base, in its sole discretion.
  14. Sole agreement and Non Variation The terms of this agreement constitute the only terms between BB Energy and the Customer regarding the subject matter thereof. Any alteration, release, relaxation or postponement of the terms hereof by BB Energy shall not be binding in any way whatsoever, unless it has indicated in writing that such action shall be binding. BB Energy reserves the right to withdraw any credit facilities granted, at any time, without notice and having to give reasons for such decision as it may exercise in its absolute sole discretion.
  15. DEED OF SURETYSHIP

I/We the undersigned, hereby bind myself/ourselves in my/our personal capacity as surety and co-principal debtor in solidum for all indebtedness of any nature which the Customer may now or in future be owing to BB Energy.

I/We hereby waive and renounce all benefits and rights which I/We may have under the legal exceptions divisionis et excusionis. I/We choose as my/our domicilium citandi et executandi the addresses as appear on page 1 and agree to be bound to all the terms and conditions of this agreement as if I/we personally contracted on these terms and that I/we will be bound to any variation, agreement or arrangement between the Customer and BB Energy, without notice thereof to myself/ourselves.

I / We declare the information provided on page 1 to be true and correct and further confirm having familiarized myself / ourselves with the Terms and Conditions and the DEED OF SURETYSHIP