PRICE, PAYMENT & CREDIT TERMS

1 - Acceptance :
1.1
All credit applications are subject to acceptance by Nexgen engineering supplies Ltd. These terms and conditions apply to all credit arrangements unless other valid arrangements have been agreed in writing by both Nexgen engineering supplies Ltd and the buyer.

2 - Price and payment :
2.1
If the Buyer places an Order via the Seller’s web site the price payable for the Goods will be set out on the web site at the time the buyer places the Order.
2.2
The Buyer may place an Order from the Seller’s current website for the price listed.
2.3
For customers who have an existing credit account with Nexgen engineering supplies Ltd and the products ordered are in stock we will automatically process and post orders.
We will not call you to confirm orders unless you are a new customer, request that we call you, or we need to contact you to confirm stock availability, payment or delivery details.
2.4
If the Buyer accepts the Seller’s Quotation then the prices contained therein are only valid for the period of 30 days from the date of the Quotation. If the Buyer wishes to order the Goods stated in the Quotation after this period then a new Quotation should be obtained or an enquiry made as regards the price of the Goods upon making an Order.
2.5
Notwithstanding the above clauses the Seller reserves the right by giving notice to the Buyer at any time before delivery, to vary the price of the Goods to reflect any increase/decrease in cost to the Seller which is due to any factor beyond the control of the Seller.
2.6
The Buyer shall be responsible for any charges for VAT and carriage in addition to the price for the Goods unless otherwise agreed in writing between the parties.
2.7
The Seller must receive payment for the total price of the Goods and any applicable charges for VAT, carriage and insurance, before the Order can be accepted unless otherwise agreed in writing.
2.8
If the Buyer has a credit account with the Seller, payment shall be made in full within 30 days of the date of invoice sent by the Seller to the Buyer in relation to the Goods. Time shall be of the essence for payment. The Seller shall be entitled to revoke any credit facility if the Buyer fails to make payment by the due date. In addition, if payment is not made by the due date, the Seller shall be entitled to charge interest at the rate of 3 per cent over the then current base rate of National Westminster Bank Plc on the amount outstanding from the due date for payment until receipt by the Seller of the full amount (including any accrued interest) whether before or after judgment, together with any reasonable legal or other recovery costs.
2.9
For all custom made products the order is confirmed and cannot be cancelled or returned after the specification document or artwork proof has been approved by the Buyer.

3
Credit account new customer relationships

Payment in advance (PIA)- This is required for the 1st 5 orders

Payment on delivery (POD)- This will be allowed after 5 successful orders

Payment 30 days from invoice - Only when nexgen engineering supplies feels confident to do so and after PIA & POD has been passed

Nexgen engineering supplies reserves the right to cancel any of the credit agreements with no notice an with immediate effect