Conditions of Sale

Goods supplied by SUMMIT FASTENERS are supplied upon the following terms and conditions and not otherwise and SUMMIT FASTENERS expressly reject any conditional sales order placed by the Purchaser.

1. A contract is formed when SUMMIT FASTENERS has received an order and either sends the Purchaser a written acceptance or despatches goods pursuant to the order.

2. The price is that quoted by SUMMIT FASTENERS in respect of the particular order and not in any brochure or other product information published. Prices are ex-warehouse and are subject to Goods and Services Tax (GST) where applicable. Orders are subject to delivery fees where applicable.

3. Despatch dates will be observed subject to SUMMIT FASTENERS ability to effect transport by available means.

4. No claims in reference to items covered by the invoice will be recognised unless made in writing, with an invoice number, within 7 days of delivery.

5. Payment is to be made on receipt of goods, or in the case of an approved account, within 30 days following the end of the month in which the invoice is rendered or any other terms applied. If not paid as aforesaid SUMMIT FASTENERS reserves the right to charge interest at a rate of 2.5% per month on all outstanding monies dating back to the original date of invoice, plus any expenses, costs or disbursements, including debt collection agency fees and solicitors costs, and these will be paid in addition to all outstanding monies, as stated in the TERMS AND CONDITIONS of the CUSTOMER 30-DAY CREDIT ACCOUNT APPLICATION.

6. Unless prevented by statute, all implied terms, conditions and warranties are excluded. SUMMIT FASTENERS guarantee that the products will be free of defects but is not responsible for the use or misuse of the goods or the installations thereof by the Purchaser or third party. The Purchaser’s remedy for any breach of condition warranty or condition of goods shall be limited at the discretion of SUMMIT FASTENERS to the replacement of the goods and shall not include any consequential loss or damages in the event of any defect in or failure of goods. SUMMIT FASTENERS will not be under any liability in respect of any loss or damage (including consequential loss or damage) however caused (whether by negligence or otherwise) which may be suffered or incurred or which may arise directly or indirectly in respect of any technical advice or assistance given or rendered by it, to the customer whether or not in connection with the manufacture, preparation or supply of goods and/or services to the customer, provided that SUMMIT FASTENERS has provided such technical advice or assistance with due care and skill. Any claim for warranty by the Purchaser will be considered only after the Purchaser returns goods with Proof of Purchase to SUMMIT FASTENERS. Such claims may be subject to SUMMIT FASTENERS and/or SUMMIT FASTENERS supplier’s/ manufacturer’s discretion and their terms and conditions of warranty.

7. All goods are supplied subject to retention of title. The goods remain the property of SUMMIT FASTENERS until complete payment is received by SUMMIT FASTENERS of all claims due to SUMMIT FASTENERS arising from all business transactions between SUMMIT FASTENERS and the Purchaser. Prior to use or resale of goods, the Purchaser shall maintain them in an identifiable condition in store or on site. The Purchaser may resell the goods in the ordinary course of business subject to maintaining SUMMIT FASTENERS’ rights against the goods and acting as judiciary in recovering payment of the goods and segregating such proceeds for the account of SUMMIT FASTENERS until SUMMIT FASTENERS is paid in full. The Purchaser assigns to SUMMIT FASTENERS any claims or rights against sub Purchasers in order to enable SUMMIT FASTENERS to make full recovery on monies owed to them in respect of the goods. In the event of the failure of the Purchaser to pay for the goods or in the event of the appointment of a receiver and manager, liquidator, agent in possession or execution or distress, SUMMIT FASTENERS may enter the Purchaser’s premises or elsewhere where the goods are stored or installed and recover them, or in the event the goods are not in the original saleable condition, other goods to the value of all outstanding monies, or to appoint an agent in writing to do so and the Purchaser acknowledges and guarantees such right of entry during normal business hours.

8. The law of New South Wales governs this sale. All disputes arising hereunder will be dealt with in the courts of New South Wales and courts hearing appeals therefrom.

9. SUMMIT FASTENERS does not waive any of its strict legal rights in respect of these conditions or the goods and shall not be bound by any waiver made by its servants and agents on a particular occasion.

10. The Purchaser hereby releases, indemnifies and defends SUMMIT FASTENERS from and against any losses, liabilities, claims and costs caused by or arising out of the way in which they are contained or made in compliance with the Purchaser’s design or specification.

11. SUMMIT FASTENERS will not be responsible for any delay in or failure of performance of supply or delivery caused by circumstances beyond its control including but not limited to, strikes, lock-outs, labour disturbances, Act of Government, riot, civil war, commotion, fire, flood, failure of power supply or similar event and shall not be liable for any consequential loss, damage, expense or claim suffered by the Purchaser or any other party as a result of any such event.

12. SUMMIT FASTENERS may in its absolute discretion accept the return of standard products (but not special products) to the credit of the Purchaser provided that such products are returned to SUMMIT FASTENERS unused and undamaged, and with proof of purchase, before the expiry of 14 days after their delivery to the Purchaser and the Purchaser agrees to pay a handling and administration charge equal to 15% of the price or a minimum fee of AUD$20.00 PLUS GST. No returns of special products will be accepted and SUMMIT FASTENERS may in its absolute discretion, not accept the return of non-stock quantities or products.

13. These conditions will not be varied unless SUMMIT FASTENERS agrees in writing.

© Summit Fasteners 27 May 2006