1. As user of this site you agree to bind yourself as surety to Delta Firearms (PTY) Ltd Reg No. 2014/068075/07 (“The creditor”) for and on behalf of Business/entity if applicable for the due performance by the debtor of all its obligations to the creditor arising from any cause. Whatsoever and whether presently due, owing and payable or becoming due, owing and payable in the future.
2. THIS SURETYSHIP IS GIVEN AS A CONTINUING COVERING SURETYSHIP
3. ACKNOWLEDGEMENTS AND RELEASESIt is agreed:
3.1. All admissions or acknowledgements by a debtor to a creditor are binding on the surety,
3.2. Proof by a creditor of a claim against the insolvent estate of a debtor against a debtor under winding up shall be deemed to be an acknowledgement by the debtor of the claim
3.3 The creditor is at liberty, without affecting its rights or the rights of any of them, to release, abandon, realise or sell securities and to give time or compound or make any other arrangements with:
3.3.1. the debtor; or
3.3.2. the surety or any of them; or
3.3.3. any other sureties, guarantors or indemnitors for the debtor; whether before or after any obligation has fallen due for performance
3.4. Any leniency, subordination of a claim or claims against, extension of time or waiver which may be granted to:
3.4.1. the debtor; or
3.4.2. the surety or any of them; or
3.4.3. any other sureties, guarantors or indemnitors for the debtor; or
3.4.4. any third party; whether before or after the obligation has fallen due for performance is not a waiver of any of the rights or claims of the creditor against the surety. The surety irrevocably waives any right to rely on any defence of or based on, waiver, estoppel or prejudice to the surety.
3.5. Notwithstanding any part performance of any obligation by the surety or on its behalf, the surety has no right to:
3.5.1 any cession of action in respect of such part performance;
3.5.2 take any action against:
220.127.116.11. the debtor;
18.104.22.168. any other surety for the debtor; in respect of the part performance until the obligations of the debtor to the creditor have been discharged in full.
3.6. The surety shall not be released from its liability if the creditor:
3.6.1. Makes any payment to the debtor which ought not to have been made; or
3.6.2. withhold performance of any obligation to the debtor which ought to have been performed; or
3.6.3. allows the debtor to breach its obligations to the creditor, exceed its credit terms or defaults in any manner; or
3.6.4. fails to take or prosecute to its conclusion any action against the debtor
3.7. The surety shall, if so required by the creditor, render the performance due by the debtor even if such performance is the performance of an act. A failure to perform shall be a breach of its obligations by the surety.
3.8. The nature, extent, amount and terms of any agreement between the debtor and the creditor is at all times within the discretion of the creditor and the surety shall not be released from any liability by reason of the creditor entering into any such agreement or any failure on the par of the creditor to perform in whole or in part under such agreement.
3.9. If any obligation is novated the surety shall be liable for the original obligation or the novated obligation at the election of the creditor and whether or not the surety was aware of the novation.
3.10. The surety waives all its rights to rely upon prescription of either any principal obligation or any accessory obligation created by this deed.
4. EXTENSIONS OF TIMEIf an obligation of the debtor or any part of it is due for performance and the creditor compromises with debtor, gives the debtor any indulgence or extended time or extended terms for performance, then the creditor shall still be entitled to require the surety to perform the obligation owing by the debtor as if such compromise, indulgence, extended time or extended terms had not been entered into or granted.
5. APPROPRIATIONSThe creditor is irrevocably authorised to apply any monies received by the creditor from the debtor or any surety whether in terms of this suretyship or not against the indebtedness of the debtor to the creditor in such a manner as the creditor in its entire discretion may think fit, including the appropriation by the creditor of monies received to any obligation of the debtor whether due for performance or not for which the surety is for any reason not liable.
6. ENTIRE AGREEMENT6.1. No variation, relaxation, waiver of, addition to, delection from or cancellation, whether consensual or not, of this suretyship or any of its terms (including this clause) shall be of any force or effect unless reduced to writing, signed by the surety and confirmed by the creditor in writing.
6.2. It is agreed that:
6.2.1. this suretyship constitutes the shole agreement between the surety and the creditor;
6.2.2. there are no conditions or terms which have to be complied with whether by the creditor, the debtor, The surety or any third party before the surety becomes Liable nor are there any conditions or terms which if complied with by the creditor, the debtor, the surety or any third party shall release the surety from any obligations, save as expressly set out in this suretyship by the purchaser or the carrier, whether engaged by the supplier or the purchaser.
7. CLAIMSWithout prejudice to the purchasers’ rights in point 18 below, the purchaser shall be obliged to inspect goods upon delivery and shall immediately endorse the delivery note as to any missing, damaged or defective goods. The endorsement of any employee or agent of the purchaser, or of any person found at the premises to which the goods are delivered which appears on the delivery note irrespective of its wording, will constitute sufficient evidence of the delivery of the goods purchased, which shall be deemed to be complete, in good condition and without defects unless proved to the contrary by the purchaser.
8. RETURN OF GOODSIf in the exercise of its discretion the supplier shall agree, at the request of the purchaser, to accept the return of any goods for credit which goods were correctly supplied by supplier and are not faulty or subject to any claim, then the supplier shall be entitled without the necessity of any further agreement to claim from the purchaser a handling charge, as stipulated by the supplier, based on the invoice price of the goods so returned.
9. RISKIrrespective of when ownership in and to the goods passes to the purchaser all risk in and to the goods shall transfer to the purchaser, who will thereafter be responsible for all loss or damage to the goods however arising:
9.1. where the supplier transports the goods to the delivery destination or arranges the transport of the goods to the delivery destination otherwise then at the purchaser’s request, upon off-loading of the goods from the supplier’s vehicles at the delivery destination;
9.2. where the supplier arranges the transport of the goods to the delivery destination at the purchaser’s request, upon dispatch of the goods from the premises of the supplier.
10. PRICES10.1. Unless otherwise specified or quoted in writing by the supplier: Orders are accepted by the supplier subject to the supplier’s current price ruling on the date upon which the goods are delivered to the purchaser, less any discounts authorized by the supplier in writing.
11. PAYMENT11.1. The full purchase price for the goods stated on the supplier’s invoice shall be paid by the purchaser without any deduction, exchange or set-off, save for the discounts allowed in terms of clause 16 below, within the due date for payment specified in the quote, or if no date is specified within 30 (thirty) days of date of issue of the supplier’s statement, at such place as may be specified by the supplier from time to time.
11.2. Under no circumstances shall any payments be deemed to have been received by the supplier, until the supplier is actually in possession thereof, if in cash, or cleared to the credit of the supplier on the supplier’s account, if by other means.
11.3. The purchaser agrees that in the event of any portion of an invoiced indebtedness being disputed then, in that event, the purchaser will nevertheless forthwith pay the undisputed amount of such indebtedness according to the agreed terms of credit allowed to the purchaser failing which any discount permitted in respect of the invoiced indebtedness will be forfeited without prejudice to the supplier’s remedies in law.
11.4. In the event of the supplier or any holding or subsidiary company of the supplier or associated company of the holding or subsidiary company becoming indebted to the purchaser, the supplier may set-off such indebtedness against any monies which may be or become owing by the purchaser to the supplier.
11.5. The supplier shall be entitled to apportion any payment received from the purchaser to any
indebtedness which the purchaser may owe to the supplier or realize any security held by the supplier and use the proceeds towards payment of any amount due by the purchaser.
11.6. Where the purchaser orders goods which exceed the value of the credit which the supplier has
approved, the supplier shall in its sole discretion and without notice to the purchaser be entitled to
increase its approved credit limit and the terms and conditions hereof shall automatically apply to the additional goods supplied.
12. INTERESTThe purchaser shall pay to the supplier on demand interest compounded monthly in arrears on any amount not paid on due date in terms of this agreement at 24% (four per centum) reckoned from the due date of payment until date of actual payment thereof.
13. DISCOUNTS13.1. Unless otherwise specified by the supplier in writing, prices are not subject to any discounts, whether for prompt settlement, loyalty, quantity purchasing or otherwise.
13.2. If any discounts have been agreed to in writing, such discounts shall be irrevocably forfeited if
payment of the purchase price is not received by the supplier on due date thereof. Discounts shall
only be applicable to the net price of the goods, exclusive of value added tax.
14. ALL GOODS ARE SOLD VOETSTOOTS SUBJECT ONLY TO THE MANUFACTURER’S WARRANTY, A COPY OF WHICH IS AVAILABLE ON REQUEST.
15. BREACHIf the purchaser:
15.1. Commits a breach of any of the terms or conditions of this agreement or has failed to remedy the branch within 7 (seven) days of receipt of a written notice from the supplier requesting the purchaser to do so; or
15.2. being an individual, dies or is provisionally or finally sequestrated or surrenders or makes application to surrender his estate; or being a partnership, the partnership is terminated or sequestrated; or being a company or close corporation is placed under provisional or final order of liquidation or judicial management; or
15.3. has a judgment recorded against it which remains unsatisfied for a period of 7 (seven) days; or compromises or attempts to compromise generally with any of the purchaser’s creditors; or
15.4. fails to provide guarantees or security to the reasonable satisfaction of the supplier when called upon to do so, the supplier shall have the right, without prejudice to any other right which it may have against the purchaser, to elect to;
15.5. treat as immediately due and payable all outstanding amounts which would otherwise become due and payable under of this agreement and to claim such amounts as well as any other amounts in arrear including interest and to cease performance of its obligations hereunder until the purchaser
15.6. cancel this agreement and retake possession of any of the goods sold in which event all amounts owed by the purchaser to the supplier in terms of this agreement shall become immediately due and payable.
16. LAW, JURISDICTION AND COSTS16.1. The agreement is governed by the laws of the republic of South Africa and is deemed to be entered into at the place where the supplier signs acceptance of the purchaser’s application for credit.
16.2. The supplier shall be entitled but not obliged to institute any proceedings against the purchaser arising out of this agreement in any Magistrates Court having jurisdiction over the purchaser notwithstanding that the claim or value of the matter in dispute may exceed the jurisdiction of the magistrate’s court.
16.3. The purchaser shall be liable for any costs incurred by the supplier in the recovery of any amounts or the enforcement of any rights which it has hereunder, including collection charges, tracing fees and costs on an attorney and client scale including the costs of counsel as on brief, whether incurred prior to or during the institution of legal proceedings or if judgment has been granted, in connection with the satisfaction or enforcement of such judgment.
17. DOMICILIUMThe purchaser nominates its business address as reflected in the application for credit as its domicitium citandi et executandi for all purposes in connection with this agreement.
17.1. Any notice to any party shall be addressed to it at its domicilium and either sent by pre-registered post, delivered by hand or sent by facsimile transmission. In the case of any notice sent by pre-paid registered post, it shall be deemed to have been received on the 7th (seventh) business day after posting; or delivered by hand it shall be deemed to have been received on the date of delivery, unless such date us not a business day, in which event it shall be deemed to have been received on the next following business day; or sent by facsimile transmission, it shall be deemed to have been received on due transmission, unless the contrary is proved.
17.2. Any party’ shall be entitled, by notice in writing to the other to change its domicilium to any other physical address within the Republic of South Africa, provided that the change shall become effective only 10 (ten) days after service of the notice in question.
18. GENERAL18.1. The Purchaser shall not be entitled to cede its rights or delegate any of its obligations under this Agreement without prior consent of the Supplier having been obtained.
18.2. No indulgence, extension of time, relaxation or latitude which one of the parties may show, grant or allow to the other party shall constitute a waiver by the former party of its rights and the form former party shall not be prejudiced or stopped from exercising any of its rights against the other party which may have then already arisen or which may thereafter arise.