LYC Hospitality Equipment Ltd
Terms and Conditions of Sale

1    DEFINITIONS

1. “LYC” shall mean LYC Hospitality Equipment Limited
2. “Customer” shall mean the customer, any person acting on behalf of and with the authority of the customer, or any person purchasing products and services from LYC.
3. “Products” shall mean:
1. All products of the general description specified on the front of this agreement and supplied by LYC to the customer, and
2. All products supplied by LYC to the customer, and
3. All inventory of the customer that is supplied by LYC, and
4. All products supplied by LYC and further identified in any invoice    issued by LYC to the customer, which invoices are deemed to be incorporated into and form part of this agreement, and
5. All products that are marked as having been supplied by LYC or that are stored by the customer in a manner the enables them to be identified as having been supplied by LYC.
4. “Price” shall mean the cost of the products as agreed between LYC and the customer and includes all disbursements eg charges LYC pay to others on the customer’s behalf subject to clause 4 of this contract.

2      ACCEPTANCE
Any instructions received by LYC from the customer for the supply of products shall constitute a binding contract and acceptance of the terms and conditions contained herein.

3      COLLECTION AND USE OF INFORMATION
The customer authorizes LYC to collect, retain and use any information about the customer, or for the purpose of assessing the customer’s credit worthiness, enforcing any rights under this contract, or marketing any products provide by LYC to any other party.

4      PRICES

1. Where no price is stated in writing or agreed to orally the products shall be deemed to be sold at the current amount as such products are sold by LYC at the time of the contract.
2. The price may be increased by the amount of any reasonable increase in the cost of supply of the products that is beyond the control of LYC between the date of the contract and delivery of the products.

5      PAYMENT
Unless otherwise agreed in writing, the terms of payment are:

1. All payments are due and payable in full on or before 20th days of the month following the date of invoice. (Days can be different for individual or new customer)
2. Interest may be charged on any amount owing after the due date at the rate of 2.5% per month or part month.
3. If products or services covered by these terms and conditions are not delivered or performed at one time, Buyer shall pay for the quantity of products delivered or services performed.
4. Freight is payable by the buyers. Each shipment shall be considered a separate and independent transaction.
5. Any expenses, disbursements and legal costs incurred by LYC in the enforcement of any rights contained in this contract shall be paid by the customer, including and reasonable solicitor’s fees or debt collection agency fees.
6. A deposit of between 10% to 50% may be required.

6      WARRWNTY
Manufacturer’s warrant applies where applicable.

7      TITLE AND SECURITY

1. Title in and products supplied by LYC passes to the customer only when the customer has made payment in full for all products provided by LYC and of all other sums due to LYC by the customer on any account whatsoever. Until all sums due to LYC by the customer have been paid in full, LYC has a security interest in all products.
2. Where the customer has not paid for any products in its possession property in such products shall remain with LYC
3. LYC has a security interest in any property of the customer that is in the possession of LYC and if any sum due to LYC by the customer on any account whatsoever is not paid in full within seven days of the due date, LYC may remove such property and store it in such place and manner as LYC thinks fit and at the risk and expense of the customer.

8      Return of Goods
It is LYC’s policy that return of goods will only be for the following reasons:

1. Faulty Goods
2. Supply of incorrect Goods

No return will be considered if the goods are not in original condition or if they are returned outside the 14 day time frame.

9      DISPUTES

1. Claims for credit must be made within 14 (fourteen) days of date of purchase or delivery and,
2. A request for credit must be accompanied by original invoice or the appropriate invoice number(s) and,
3. The goods must be unused, re-saleable and in the condition that buyer receives them.
4. LYC must be given a reasonable opportunity to investigate a claim for credit.

No claim relating to products and services will be considered if the goods are not in original condition or if they are returned outside the 14 day time frame.
For cash sell, no refund will be considered if the claim is not relating to product quality or manufacture faulty. If the claim satisfies all conditions above, we can keep the credit for the customer future purchases.

10     PERSONAL GUARANTEE
If the customer is a company or trust, the director(s) or trustee(s) signing this contract, in consideration for LYC agreeing to supply products and grant credit to the customer at their request, also sign this contract in their personal capacity and jointly and severally personally undertake as principal debtors to LYC the payment of any and all monies mow or hereafter owed by the customer to LYC and indemnify LYC against non-payment by the customer. Any personal liability of a signatory hereto shall not exclude the customer in any way whatsoever from the liabilities and obligations contained in this contract. The signatories and customer shall be jointly and severally liable under the terms and conditions of this contract and for payment of all sums due hereunder.