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Terms and Conditions

PRECISION AUTOMOTIVE EQUIPMENT  (“PRECISION”) TERMS AND CONDITIONS OF SALE

1. PRICES & GST
All prices quoted are exclusive of GST and are subject to change without prior notice. You must be registered for GST and will notify Precision if you cease to be so. Each amount payable by the Customer under these Terms in respect of a Taxable Supply by Precision is a GST exclusive amount and on receipt of a tax invoice the Customer must, in addition to that amount and at the same time, pay the GST payable in respect of that supply. “Taxable Supply” and “GST” have the meanings set out in the A New Tax System (Goods and Products and services) Act 1999 (Cth).

2. CLAIMS & RETURNS
No claims for shortage or damaged items will be recognised unless notified within 7 days from receipt of goods. Goods returned for credit will be subject to handling charge as follows: 14-29 days – 10%. After 30 days – No Credit. All returns for credit are subject to substantiation and invoice numbers must be supplied before credit will be considered.

3. WITHDRAWAL & VARIATION OF CREDIT
Precision may at any time, without the need to provide a reason, vary or withdraw any credit granted to the Customer.

4. SUSPENSION & CEASING OF SUPPLY
Precision may in Precision’s complete discretion and without incurring any liability to the Customer, cease or suspend supply of products and services to the Customer or amend these Credit Terms.

5. WARRANTY
To the extent permitted by law or expressly by these Terms, all warranties whether express, implied, statutory or otherwise, relating in any way to the goods are excluded. Precision warrants the goods only to the extent of its suppliers’ warranties and, excludes all other warranties to the extent permitted at law.

6. CONTINUING GUARANTEE
All guarantees under or related to these Terms will be continuing guarantees and will terminate only with Precision’s written agreement.

7. LIABILITY
The liability of Precision for any breach of such term shall be limited, at the option of Precision, to any one or more of the following:

(a) if the breach related to goods: the replacement of the goods or the supply of equivalent goods: the repair of such goods: the payment of the cost of replacing the goods or of acquiring equivalent goods: or the payment of the cost of having the goods repaired: and

(b) if the breach relates to services: the supplying of the services again: or the payment of the cost of having the services supplied again.

To the extent permitted by law and except as expressly provided to the contrary in these Terms, Precision shall not be under any liability (contractual, tortious or otherwise) to the Customer in respect of any loss or damage (including, without limitation, consequential loss or damage) howsoever caused, which may be suffered or incurred or which may arise directly or indirectly in respect to the supply of goods or services pursuant to these Terms or Precision’s act, failure or omission.

8. PAYMENT TERMS
Trading terms are Net 30 days. Failure to adhere to these terms will result in the account becoming C.O.D, until such time as the account is paid in full. The Company reserves the right to determine when the account will be reopened. Precision is entitled to charge the Customer interest on amounts not paid within the credit period specified by Precision at a rate equivalent to 3% per annum above the business overdraft commercial interest rate of Precision’s principal bankers from the invoice date until the payment of the debt.

9. APPLICATION OF MONIES RECEIVED:
If Precision receives or recovers money in respect of a debt of the Customer, Precision may use the money to pay off whichever debt or part of a debt Precision chooses and is not compelled to apply the money as directed by the Customer or any other person.

10. COSTS
Should payment remain outstanding beyond the Company’s payment terms as outlined in Clause 5, the Customer is liable for all costs including legal costs (on a solicitor/own client basis) and mercantile agents fees incurred by the Company in recovering the amount outstanding.

11. TRANSACTIONS
The Customer will be liable for all transactions and expenses involving the Customer’s credit account including any fraudulent use of the account by the Customer or any person authorised by the Customer to use the account or the Customer’s employees, agents or contractors.

The Customer will also be liable for any fraudulent use of the Customer’s credit account which is directly or indirectly caused or contributed to by the Customer’s negligence.

12. RETENTION OF TITLE
Property in the Products shall not pass until the Customer has paid all moneys owing to Precision in full. Risk in the Products passes to the Customer at the time of delivery. If the Customer defaults in payment, then without prejudice to Precision’s other rights, Precision may without notice to the Customer enter any premises occupied by the Customer and recover possession of them.

13. PERSONAL PROPERTIES SECURITIES REGISTER
The retention of title contained in these Terms give rise to a security interest as defined in the Personal Properties Securities Act 2009 (“PPSA”) in all goods present and acquired after the execution of these Terms. The Customer acknowledges that Precision may register a financing statement on the Personal Properties Security Register (“PPSR”). The Customer agrees to do all things and execute or arrange execution of all documents Precision requires to perfect a first ranking security interest in the Goods including registering a statement of the PPSR.

14. CHANGE OF OWNERSHIP
The Customer agrees to notify the Company in writing of any change of ownership or legal structure of the Customer within 7 days from the date of such a change and indemnifies the Company against any loss or damage incurred by it as a result of the Customer’s failure to notify the Company of any change.

15. INDEMNITY
The Customer will indemnify Precision In relation to any direct or indirect loss, liability or damage suffered by Precision or any other person as a result of the Customer’s negligence or breach of these Terms.

16. TRUSTS
These Terms bind the Customer both personally and as trustee of any trusts of which the Customer is trustee.

17. JOINT & SEVERAL
If the Customer consists of more than one person, the obligations of each person are joint and several.

18. SEVERANCE
Each clause, subclause and part of these Terms is separate and independent. If any clause or subclause or part is found to be invalid or ineffective, the other clauses or subclauses or parts will not be adversely affected.

19. WAIVER
Any waiver by Precision must be in writing. In the event that Precision elects not to exercise any of Precision’s rights arising In connection with these Credit Terms, Precision’s election will not constitute a waiver of any rights relating to any other breach of these Credit Terms.

20. AMENDMENTS
These Terms may only be amended with Precision’s express written agreement.

21. ASSIGNMENT
The Customer may not assign any agreement under these Terms without Precision’s prior written consent.

22. ACCOUNT FEE
This account will may be subject to a Monthly Account Fee as agreed.

23. RECIPIENT CREATED TAX INVOICE (RCTI) AGREEMENT
You agree that Precision may issue Recipient Created Tax Invoice’s (“RCTls”) for the supply of core you (or your agent) make to Precision. You will not Issue tax invoices for these supplies. Precision will issue the RCTI within 28 days of determining the value of the supply.

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