Terms of Trade

  1. The purchase price for the goods and services is due on the 20th of the month following the date of invoice. Should the purchase price or any part thereof remain unpaid after the due date for payment then the vendor (Dynamic Fluid Systems) may charge interest at the rate of 3% per month on any amount remaining unpaid on the due date for payment or remaining unpaid each month thereafter to the intent that the vendor (Dynamic Fluid Systems) shall be entitled to charge compound interest.
  2. The purchase price for Cash Sale Goods and Services is due no later than 7 standard (not business) days from the date of the invoice. Should the purchase price or any part thereof remain unpaid after the due date for payment then the vendor (Dynamic Fluid Systems) may charge interest at the rate of 5% per each set of 7 days on any amount remaining unpaid on the due date for payment or remaining unpaid each week thereafter to the intent that the vendor (Dynamic Fluid Systems) shall be entitled to charge compound interest. If after a period of 3 sets of 7 days passes with no further payment then the vendor (Dynamic Fluid Systems) reserves the right to refer the account to any third party collection agencies at the vendors (Dynamic Fluid Systems) discretion where any fees or payments will be transferred onto the purchaser for payment.
  3. The risk in the goods shall pass to the purchaser until the purchase price has been paid in full notwithstanding the earlier delivery of possession to the purchaser. Until the purchaser has made payment in full:-

(a) The purchaser shall hold the goods as trustees for the vendor (Dynamic Fluid Systems) and the purchaser shall store the goods separately from all other chattels so as to clearly identify the goods as the vendor’s (Dynamic Fluid Systems) property.

(b) The purchaser shall have no power to charge, encumber, transfer or assign the goods to any other person and shall deal with the goods only by sale at retail. Should the purchaser sell the goods before payment of all monies owing to the vendor (Dynamic Fluid Systems), the proceeds of sale will be held by the purchaser in a separate account in trust for the vendor (Dynamic Fluid Systems) and the purchaser shall forthwith account to the vendor (Dynamic Fluid Systems) for such proceeds of sale.

(c) The vendor (Dynamic Fluid Systems) shall have the right to immediately repossess the goods should the purchaser fail to pay for the goods in full and the purchaser hereby irrevocably authorises the vendor (Dynamic Fluid Systems) to enter any premises where the goods hereby sold may be kept for this purpose.

  1. The vendor (Dynamic Fluid Systems) reserves the right to make changes to the terms of trade without further written, verbal or electronic forms of notification
  2. Specially manufactured items or items that have been procured specifically for the purchaser, from another vendors (Dynamic Fluid Systems) supplier ( Either National or International) are non returnable for credit unless the item is otherwise faulty of which this will be covered under the manufacturers warranty periods specific to the item.

 

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