1. Interest:

The Customer shall pay on request interest at the rate of two (2%) per cent per month on any overdue amount together with any debt collector’s expenses and any legal costs incurred in recovering unpaid debts.

2. Recovery Costs:

The Customer shall pay all costs and expenses incurred by Laing’s Plumbing and/or its agents in respect of the Customer whether relating to any debt, possession of Products and/or otherwise.

3. Property

Even if Laing’s Plumbing grants any credit facility and/or time to pay:-

  • (a) Property in Products shall not pass to the Customer until payment in full and of all monies owed to Laing’s Plumbing and Laing’s Plumbing reserves the right to take possession and dispose of Products as it sees fit at any time until full payment;
  • (b) The Customer grants permission to Laing’s Plumbing to enter any property to recover the Products and with such force as is necessary;
  • (c) The Customer agrees that a certificate purporting to be signed by an officer of Laing’s Plumbing identifying Products as unpaid for shall be conclusive evidence that Products have not been paid for and of Laing’s Plumbing’s title to those Products;
  • (d) Upon sale or disposition of any Products prior to full payment by the Customer agrees to deposit all proceeds in a separate bank account, not to mix such proceeds with any other monies and account to Laing’s Plumbing for the same as fiduciary and bailee;
  • (e) Without derogating from Laing’s Plumbing’s rights as a creditor of the Customer or arising under these terms if Products are used in any construction, building, fabrication and/or manufacturing process (“the Process”) which results in an entitlement of the Customer to receive money from any other person the Customer agrees to hold such part of any monies received by the Customer (or corresponding book debt owed to the Customer in respect of those monies) as is equivalent to the value of any payment in full for those Products used in the Process as invoiced to the Customer by Laing’s Plumbing for Laing’s Plumbing until payment in full for those Products and all monies owed to Laing’s Plumbing;
  • (f) Products shall be deemed to be dealt with by the Customer on a “first in-first out” basis at all times.

4. Security for Payment:

The Customer agrees upon request to charge in favour of Laing’s Plumbing with payment of all monies owing to Laing’s Plumbing in such form as Laing’s Plumbing requires:-

  • (a) By way of fixed charge all of the Customer’s books of account, financial records, goodwill, documents of title and current and later acquired real property and intellectual property;
  • (b) By way of a floating charge over the whole of the Customer’s other undertakings, property and assets;
    and the Customer hereby irrevocably appoints Laing’s Plumbing and it’s designated servants or agents to be its duly constituted attorney to execute such consents to such caveats as Laing’s Plumbing may wish to lodge against any dealings in any real property (including any leasehold interest in real property) in any registry of freehold land titles throughout the Commonwealth of Australia.

5. Disputes:

The Customer agrees to pay into an interest-bearing account in the name of Laing’s Plumbing any amount claimed by Laing’s Plumbing as a condition precedent to any dispute by the Customer of any such claim on the basis that upon resolution of the dispute the monies and any interest shall be dispersed according to the resolution. This clause shall operate as a bar to any defence or claim by the Customer until fully complied with.

6. Severability:

Any part of these Terms being a whole or part of a clause shall be capable of severance without affecting any other part of these Terms.