1. Terms
    1. All goods will be delivered on a cash on delivery basis. In the event that the Customer does not effect payment of the cash amount due, on delivery, VASSCO shall be entitled to grant credit terms in its sole discretion.
  2. Payment
    1. The customer must ensure payment reaches VASSCO office within the agreed terms.
    2. Any amount not paid by the Customer on due date shall bear interest at the rate of 15,5% per annum.
    3. All payments received shall firstly be utilized for payment of interest and costs and thereafter in payment of capital.
    4. The Customer has no right to withhold payment for any reason whatsoever.
  3. Prices
    1. 3.1 The price of goods will be VASSCO official ruling price list at the date on which goods are delivered to the customer.
  4. Jurisdiction
    1. Either party shall at its election be entitled to bring any action or proceedings to enforce its right in terms of this agreement in the Magistrate Court, notwithstanding that any such action or proceedings may otherwise have been beyond the Jurisdiction of such Court for which purposes this clause shall constitute the consent contemplated in Section 45 of the Magistrate’s Court Act No. 32 of 1944 or any statutory modifications or re-enactments thereof for the time being in force.
    2. VASSCO shall have the right to institute any action in either the Magistrate’s Court of the High Court at its sole discretion.
  5. Cancellation
    1. VASSCO has the right to cancel this agreement forthwith at any time without any prejudice to its rights.
    2. Upon cancellation, all amounts owing to VASSCO by the customer becomes due and payable and VASSCO may take possession of any goods that are not paid for.
    3. Any order is subject to cancellation by VASSCO due to force majeure from any cause beyond the control of VASSCO, including (without restricting this clause to these instances) inability to secure labour, power, materials or supplies, or by reason of an act of God, war, civil disturbances, riot, state of emergency, strike, lockout, or other labour disputes, fire, flood, drought or legislation.
    4. Any order is subject to cancellation by VASSCO if the customer breaches any term of this contract or makes any attempt of compromise, liquidation, sequestration, termination or judgment is recorded against the customer or any of its principals.
  6. Ownership
    1. All goods purchased shall remain the sole property of VASSCO and be subject to reservation of ownership until the purchase price is fully paid.
  7. General
    1. The customer agrees that:
      1. this contract represents the entire agreement between the customer and VASSCO and that no alterations or additions to this contract may be effected unless agreed to by both parties, reduced to writing and signed by the customer and a duly authorized representative of VASSCO;
      2. that this agreement will govern all future contractual relationships between the parties;
      3. is applicable to all existing debts between the parties;
      4. this contract is final and binding and is not subject to any suspensive or resolutive conditions;
    2. The customer warrants that the signatory has been duly authorized to contract on the customer’s behalf.
    3. The customer hereby confirms that the goods and services on the Tax Invoice issued duly represent the goods and services ordered by the customer at the price agreed to by the customer where delivery/performance has already taken place that the goods and services were inspected and that the customer is satisfied that these conform in all respects to the quality and quantity ordered and are free from any defects.
    4. VASSCO shall be entitled in its sole discretion to split the delivery/performance of the goods and services ordered in the quantities and on the dates it decides
    5. VASSCO shall be entitled to invoice each delivery/performance actually made separately.
    6. To be valid claims must be supported by original Tax Invoice and the undamaged packaging of the goods, and must be submitted in writing to VASSCO within 7(seven) days.
    7. Under no circumstances will VASSCO be liable for any consequential damages or for any delictual liability of any nature whatsoever or from whatsoever cause arising. The customer shall not have any claim for damages of whatsoever nature or from whatsoever cause arising.
    8. The Customer shall be liable to VASSCO for all legal expenses, on the attorney-and-own client scale of an attorney and counsel, incurred by VASSCO in the event of:
      1. any default by the customer;
      2. any litigation in regard to the validity and enforceability of this agreement.
    9. The customer agrees that no indulgence whatsoever by VASSCO will affect the terms of this agreement of any of the rights of VASSCO and such indulgence shall not constitute a waiver by VASSCO in respect of any of its rights herein. Under no circumstances will VASSCO be stopped from exercising any of its rights in terms of this contract.
    10. Should the Customer at any stage change the form of legal entity or the name or ownership under which the account and credit facilities are being used, the Customer undertakes to notify VASSCO accordingly in writing by registered post within seven (7) days as from the date when the changes takes effect. The Customer furthermore indemnifies VASSCO against any loss or damage which may result from such change or from any failure on the Customer’s part to notify VASSCO of such change.
  8. Interpretation
    1. The headings are for convenience and are not to be taken into account for the purpose of interpreting the contract.