Credit Application Form

1. INTERPRETATION Conditions and the contract to which these conditions apply: IM Foods PTY LTD, means “The Seller”, “The Seller” means the person who sells the goods. “The Buyer” means the person who buys or has agreed to buy the goods. “The Goods” means any item or item of whatever nature sold by the seller. The “Contract” means the Invoice and the terms within the invoice.

2. PAYMENT a) All new Buyers accounts will be subject to C.O.D (Cash on Delivery) terms for the first three (3) months or more if Credit approval form has not been submitted and approved. b) Unless by prior agreement with the seller in writing, the total value of the invoice shall be paid in full 30 days from the end of the month of invoicing. The time period for payment and the price of the goods on the invoice will be the essence of the Contract. If the buyer fails to abide by the terms of the Contract the seller may treat the Contract as repudiated by the buyer, or may until payment in full is made, suspend the delivery of the goods that are the subject of the contract and any goods that are the subject of any other contract with the buyer. The Seller in the act of suspending the delivery of one or all contracts to the Buyer will not incur any liability whatsoever that may be borne by the buyer. In addition, but without prejudice to the common law rights of the Seller, the Buyer (if so required by the Seller) pay interest daily to the Seller on any amounts outstanding at the rate of 3% per annum above the Business lending indicator rate of the National Australia Bank until all arrears are paid in full. The Buyer shall not be entitled to make deductions from the value of the invoice to offset for any payments made in compensation to the Seller or to make any counter claim to the Seller. All charges in relation to dishonoured Cheques will be borne by the buyer. The term “Payment in full” will only be applied after the Cheque has been realised. If an account is overdue to a Cheque being dishonoured, the Seller may apply the above mentioned conditions in this paragraph. c) Accounts in arrears for more than seven days after the overdue date will be handed over to a debt collection agency. The Buyer will be subject to all debt collection fees and other commission or costs incurred in the collection of overdue debts per the terms and conditions of the relevant debt collection agency.

3. DELIVERY a) Any time or date named or accepted by the Seller for completion, delivery, dispatch, shipment or arrival of the goods or for tender of any documents is an estimate only and does not constitute a condition of the contract or part of the description of the goods .The seller shall not

be under no liability whatsoever for any delay in completion, delivery, dispatch to the shipment or arrival of the goods or in the tender or any delays caused by acts of God, War, Riots, Strikes, Lockout, Trade disputes, Fire, Breakdown, Mechanical failure, interruption to the transport, Government action or by any other cause whatsoever whether or not of a likely nature to those specified above, outsider the reasonable control of the Seller and in any such event the time for completion, delivery, dispatch, shipment or arrival of the goods or tender of documents maybe be extended by the Seller (or the Seller may cancel the contract without any liability whatsoever on its part). Time for completion, delivery dispatch, shipment or arrival of the goods or for the tender of any documents is not the essence of the contract.

b) In the event of production of the goods or any part thereof being hindered or impaired or ceasing for any

cause whatsoever outside the reasonable control of the Seller, the Seller may notify the Buyers that it is unable to fulfill the contract and may cancel the contract without being under liability whatsoever.

c) Unless otherwise stated in writing, the Seller may make partial deliveries of deliveries by instalments in any amounts it may determine and each such partial delivery or delivery by instalment shall be deemed to be separate contracts and these Conditions shall apply to each partial delivery or delivery by instalment.

d) The Seller may deliver up to five percent more or less of the amount specified for delivery, subject only to any appropriate adjustment of the price payable in full satisfactions of the Seller’s obligations pursuant to the particular contract.

4. FAILURE TO DELIVER:
The Buyer shall notify the Seller within 3 days of any shortfall in loss or damaged to goods delivered. Failure to so notify shall disentitle the buyer to any remedy in respect of the shortage, loss or damage.

5. TITLE:
a) Goods supplied by the Seller to the Buyer shall be at the Buyer’s risk immediately on delivery to the Buyer or the Buyer’s custody (whichever is the sooner) and the Buyer should insure the
goods thereafter against such risks as it thinks appropriate. b) Property in the goods supplied by the Seller to the Buyer will not pass to the Buyer until such time as the goods the subjects of this contract and all other goods supplied by the Seller to the

Buyer have been paid for in full. Until such times as the goods have been paid for in full the Buyer shall store the goods, including goods into which the supplied goods have been mixed in such a manner as to show clearly that they are property of the Seller and shall upon the Seller’s demand deliver up such goods to the Seller and in default of such delivery, the Seller may be its servants and agent’s enter the Buyer’s premise at any time without notice to repossess the goods.

6. INCREASED CHARGES:

Any increase in the present rate of freight and/or duty and/or customs tariff payable and/or alteration of method of assessment thereof increasing the charges payable in respect of the said goods and the whole cost of war risk insurance premium and/or quarantine charges shall be borne by the buyers.

7. DELAYS:

Delays in delivery or non-delivery of the said goods or any part thereof due directly or indirectly to government action or legislation, strikes lockouts, combination or workers riots, quarantining, act of God, Force Majeure or unavoidable cause, mislaying or loss of the said goods in transit, mistakes made in the transmission of cables, or wireless messages, the neglect, failure, default or delay of the manufacturers or suppliers of the said goods supply thereof to Sellers in manufacturing and/or shipping the said goods or any part thereof for any reason whatsoever shall not give rise to any claim against the Seller and the Seller said goods at the price quoted shall not give rise to any claim against the Seller but the Buyer shall be bound to accept the delivery if the goods are shipped or delivered within a reasonable time after the removal of any such cause of delay or non-delivery.

8. NOT TO SAMPLE:

If the goods delivered or tendered or any part thereof are not according to description or sample or not of the type or quality contracted by the Seller to be delivered such that the Buyer is entitled to refuse to accept the same, the Buyer may within seven days of delivery or tender reject the same but in such event

a) No damage shall be recovered by the Buyer from the Seller in respect thereof

b) Upon so rejecting the said goods, the Buyer shall not be liable for the price and if the price or any part thereof shall have been paid the Buyer may recover the amount so paid from the Seller.

9. MONIES UNPAID:

This sale may be cancelled at Seller’s option if any monies are owing and unpaid by The Buyer to the Seller more than Seven days after their due date of payment.

10. RISK OF GOODS IN TRANSIT:

All sales being made either F.O.B or C.&F are the Buyer’s risk during transit.

11. VARIATION:

Seller shall not be liable for any variation not exceeding 5 per cent in respect of all weights and quantities of the goods.