Terms & Conditions

Credit Terms & Conditions

1. The Applicant hereby warrants that the information comprised in the First Schedule hereto is true accurate and correct and is supplied for the purpose of obtaining credit.
2. The Applicant warrants that the persons’ signatures appearing on this Application are duly authorised to apply for credit and execute this Application.
3. The Applicant agrees to adhere to the terms and conditions herein.
4. The Applicant agrees that it is not entitled to any credit facilities until it receives notice in writing (“the notice”) from Lubricant Specialists Australia stating that credit facilities have been given and specifying the terms and conditions upon which such credit facilities are given.  Until the Applicant receives such notice in writing from Lubricant Specialists Australia any goods that are supplied to the Applicant shall be on the basis of cash before delivery.
5. The parties agree that in the event of Lubricant Specialists Australia prior to approving credit grant to the Applicant time to pay for any goods supplied then such supply shall not amount to a waiver by Lubricant Specialists Australia of any of the terms of this Application nor be construed or be taken either directly or by implication as a granting by Lubricant Specialists Australia of credit facilities to the Applicant and no credit facilities shall be granted unless so stated in the notice.
6. In the event of Lubricant Specialists Australia granting credit facilities to the Applicant then the following terms shall apply

• Payment of all accounts is required by due date, being the last day of the month following the month of purchase.
• That should the Applicant default in the payment of any monies due under the terms and conditions contained herein, then all monies due to B Lubricant Specialists Australia shall immediately become due and payable, and shall be paid by the Applicant within SEVEN (7) days of the date of demand, and Lubricant Specialists Australia shall be entitled to charge interest at the rate of 18% percent per annum on all overdue accounts from the due date until the date of actual payment.
• Any expenses, costs or disbursements incurred by Lubricant Specialists Australia in recovering any outstanding monies including debt collection agency fees and solicitor’s costs shall be paid by the Applicant, providing that those fees do not exceed the scale charges as charged by that debt collection agency/solicitor and in any event the commission is not to exceed 18% of the debt value, plus out of pocket expenses.
• Lubricant Specialists Australia shall be entitled without notice to terminate any credit arrangement with the Applicant in the event of the Applicant defaulting in any of the terms and conditions herein contained.
• Lubricant Specialists Australia shall be entitled at any stage during the continuance of the credit arrangement to request such security or additional security as Lubricant Specialists Australia shall in its discretion think fit and shall be entitled to withhold supply of any goods or credit arrangements until such security or additional security shall be obtained.

1. The Applicant hereby acknowledges that the goods supplied by Lubricant Specialists Australia shall remain the property of Lubricant Specialists Australia until Lubricant Specialists Australia receives payment for same.  Lubricant Specialists Australia hereby agrees to allow the Applicant to deal, sell or trade with the goods in the normal course of business and for the Applicant to retain the sale proceeds for such sale or dealing provided that the customer adheres to the terms and conditions contained herein.  In the event of the Applicant defaulting in any of the terms contained herein, including the payment of any monies due under the credit arrangement, then Lubricant Specialists Australia shall have the right (without giving notice) to retake possession of the goods supplied to the Applicant by Lubricant Specialists Australia and the Applicant hereby authorises and allows Lubricant Specialists Australia or its representative, servant, agent or employee to enter the premises upon which the goods are housed or stored for the purposes of retaking possession of same Lubricant Specialists Australia shall not be liable for any costs, losses, damages, expenses or any other monies or losses suffered by the Applicant as a result of Lubricant Specialists Australia retaking possession of the goods.
2. The Directors/Shareholders of the Applicant do hereby jointly and severally guarantee payment of the account and to enter the Standard form of guarantee used by Lubricant Specialists Australia should such guarantee be required.
3. The signatories to this Application do hereby jointly and severally guarantee payment of the Applicant’s account to the Lubricant Specialists Australia.  The guarantee will be a continuing guarantee unless notification is made to an agreed by Lubricant Specialists Australia in writing.
4. The signatories to this Application and guarantors where applicable, hereby authorise Lubricant Specialists Australia to carry out credit checks and to obtain credit reports in respect of their credit worthiness in accordance with any law with respect thereto in force for the time being.
5. In the case of a Trust Company the Applicant acknowledges that the Trustee shall be liable on the account and that in addition the assets of the trust shall be available to meet payment of the account.
6. Change of ownership – Registered Particulars – The Applicant shall no later than 14 days prior to any proposed changes of ownership, change in Registered Particulars, alteration, addition to the shareholding or directorship, notify Lubricant Specialists Australia of the proposed change and the Applicant shall notify Lubricant Specialists Australia of any change, alteration or addition, and the Applicant shall be liable for any goods supplied by Lubricant Specialists Australia after such change, alteration or addition unless Lubricant Specialists Australia shall have acknowledged by written acceptance of the intending change, alteration or addition.
7. The Applicant hereby charges the land upon which the goods are situated or the work carried out and other land owned or in the future acquired by the Applicant from time to time and the Applicant agrees immediately upon being required to do so by Lubricant Specialists Australia to enter into a mortgage to be prepared Lubricant Specialists Australia’ solicitors on the terms and conditions as Lubricant Specialists Australia’ solicitor shall think fit to secure any sum due hereunder and the Applicant further agrees and permits and authorises Lubricant Specialists Australia to register a caveat over any land now owned by the Applicant or in the future acquired by the Applicant to secure any sum due hereunder at any time during the continuance of the credit arrangement.
8. For the purpose of this document the word “GOODS” shall mean all goods and chattels and all charges for work and labour done, hire charges, fees, service charges, repairs, materials, insurance charges of whatsoever nature, associated with the supply and manufacture, construction, repair of the goods supplied to the Applicant and all terms and conditions of this Application shall relate to any charge herein before mentioned imposed by Lubricant Specialists Australia to the Applicant.
9. The signatories of this Agreement authorise Lubricant Specialists Australia to conduct credit inquiries on them, any businesses which they may be a proprietor or partner of and any company which they may be the director of:

• If Lubricant Specialists Australia considers it relevant to assess the application for commercial credit, then the signatories of this Application agree to Lubricant Specialists Australia obtaining a report about their Personal Activities or Personal Credit worthiness from a business which provides information about the personal credit worthiness of persons.
• The signatories of this Application agree that Lubricant Specialists Australia may give to and seek from any credit providers names in this Application and any credit providers that may be named in a credit report issued by a credit reporting agency, information about their credit arrangements. The signatories understand that this information can include any information about their credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act 1988.
• If Lubricant Specialists Australia considers it relevant to collecting overdue payments in respect of commercial credit provided by the Applicant, the signatories to this Agreement agree to Lubricant Specialists Australia receiving from a credit reporting agency a credit report containing personal information about them in relation to collecting overdue payments.
• Under Section 18E(8) of the Privacy Act 1988 Lubricant Specialists Australia is allowed to give a credit reporting agency personal information about this credit application. The information which may be given to an agency is covered by Section 18E(1) of the Act.
• The signatories to this Application agree that Lubricant Specialists Australia may seek from a credit reporting agency a credit report containing personal information to assess whether to accept them as Guarantors for the credit applied for or provided to the Applicant named in this application. The signatories agree that if Lubricant Specialists Australia approves this application for credit, the terms and conditions remain in force until the Applicant’s liability with Lubricant Specialists Australia ceases.
• If Lubricant Specialists Australia approves this application for credit, the terms and conditions remain in force until the credit facility covered by this application ceases.

The Applicant and signatories to this Application having read the above clauses 15(a), 15(b), 15(c), 15(d), 15(e) and 15(f) pertaining to the requirements of the Privacy Act 1988 hereby agree to them and consent to be bound by them.