1. FERRO SOUTH AFRICA (PTY) LIMITED – hereinafter “FERRO”
The following conditions shall apply to all contracts with Ferro, unless otherwise expressly agreed in writing.
Conditions other than those contained herein and, in particular, standard conditions used by the Purchaser, shall not apply unless expressly accepted by Ferro in writing.
2. All amounts due to Ferro shall be paid by the Customer (who shall mean the customer overleaf), without any deduction or set-off, within 30 days from date of statement unless otherwise agreed in writing. Should such a day be a weekend or public holiday, payment must be made directly into Ferro’s bank account on the last business day prior to such a day. (The customer shall forward a copy of the remittance advice by fax or email per the details overleaf).
3. The Customer shall be liable for interest at the rate equivalent to the prime overdraft lending rate as charged from time to time by Ferro’s banker, on all amounts which remain unpaid after due date. In the event of the Customer failing to pay any amounts, all amounts then owed by the Customer to Ferro shall immediately become due and payable.
Ferro reserves the right to withhold delivery of any product ordered should the invoice value result in the Customer being either in default of payment of having exceeded his credit limit.
4. The price of goods will be at Ferro’s official price list ruling on the date of delivery unless otherwise specifically agreed to by Ferro and subject always to the condition that should the price not be paid on or before due date, Ferro shall be entitled to disallow and recoup such discount.
5. Notwithstanding the fact of delivery of goods to the Customer, ownership therein shall remain vested with Ferro until such time as it has received payment of the full value in respect thereof.
6. Whilst every care is taken to ensure that the product supplied is the Ferro’s specification and free of impurities, it is a specific condition of the contract of sale for Ferro shall not be responsible for any direct or consequential loss suffered as a result of any defect, fault or impurity in the material sold.
7. Ferro’s liability shall be limited to replacing any products shown to be defective or, at Ferro’s option, reimbursement of the price by Ferro for the products.
8. Ferro shall not be liable to replace any products in a consignment unless immediate written notice is received from the Customer to enable the complaint to be investigated before the remainder of the consignment is used or returned.
9. All products must be tested by the Customer before being used in bulk. Any such products found to be defective must be returned to Ferro within seven days of their receipt in the same condition as they were despatched.
10. In the case of orders place in respect of products other than those reflected on Ferro’s official price list, the Customer shall be obliged to accept and pay for any quantity tendered for delivery which is within ten percent (excess or shortfall) of the quantity ordered by the Customer.
11. All products supplied by Ferro to the Purchaser shall remain the property of Ferro until such time as the Purchaser has paid Ferro all amounts invoiced for such products. Ferro further reserves the right at its discretion to repossess any products for which full payment has not been received in accordance with the invoices submitted by Ferro to the Purchaser.