4.01The applicant warrants that the information supplied in this agreement is truthful and accurate. If this application is granted, then it will be granted on the assumption the applicant has full authority to fill in this form and agree to the terms and conditions.
4.01a The applicant accepts and agrees this agreement constitutes a Security Agreement under the Personal Property Securities Act 2009, entitling MIDSTATE to claim a Purchase Money Security Interest (PMSI) over the Collateral supplied or to be supplied to the Applicant as Grantor pursuant to these Terms.
4.01b The applicant agrees that all goods obtained from MIDSTATE under the terms of this agreement remain the property of MIDSTATE (ACN 007 941 095) until such time as the applicant makes full payment for the goods and any other debt owing to MIDSTATE and that MIDSTATE has security over such goods until full payment is made.
4.1c The applicant consents to MIDSTATE registering its Security Interest in the Collateral on the Personal Property Securities Register.
4.02The applicant accepts the terms and conditions of this agreement.
4.03Notwithstanding any implication of law to the contrary, this agreement between the applicant and MIDSTATE is deemed to be made and constructed in South Australia, and any legal action taken for enforcement of recovery may be taken under jurisdiction of the Courts in the state of South Australia.
4.04The applicant agrees to adhere to the payment term, which is full payment for goods within 30 days of the statement date. Cash, Direct Debit ( inc Stripe Payments), Eftpos Payment, Cheque (Bank, business), Major cards and money orders are accepted forms of payment. A $100 dishonor fee applies to cheques that bounce.
4.05If full payment is not received by the due date, a service fee will be charged and will be payable by the applicant. And in addition any discounts applied will be reversed. Section 4 subsection 4.5 , may only be reversed (not applied) if authorized by Midstate’s office manager. A request must be placed by the applicant in order for this to be considered.
4.06An administration fee of fifteen dollars ($AU15) is payable by the applicant if the credit facility has been used in a month where the balance has not exceeded fifteen dollars ($AU15). ( If there is nothing on the account, there is no charge.) If the applicant receives their statement via email and no Paper statement then this fee will be waivered.
4.07MIDSTATE reserves the right to terminate or freeze the applicant’s credit facility at any time without prior notice or explanation.
4.08All goods remain the property of MIDSTATE (ACN 007 941 095) until such time as the applicant completes full payment for the goods to MIDSTATE.
4.09All risk for goods shall pass to the applicant upon delivery of the goods. If the applicant takes delivery at the business premises of MIDSTATE, then the delivery shall occur upon completion of loading.
4.10The applicant may be required to sign all invoices corresponding to goods purchased on the credit facility. Unless an order no. system is used.
4.11The applicant authorizes persons in section 3.0 of this agreement to make transactions on the applicants credit Facility. Persons that are listed in section three and make a purchase on behalf of the applicant enter into this agreement.
4.12If the applicant dishonors the payment term in condition 4.4, and fails to settle the account immediately upon request from MIDSTATE, MIDSTATE may retake possession of the goods. All costs invoked by the repossession of goods are fully payable by the applicant, including (but not limited to) labor, freight and handling.
4.13The applicant irrevocably authorizes MIDSTATE, it’s agents and servants to enter the applicants premises without prior notice at any time, for the purpose of assessment and/or recovery of goods.
4.14To secure payment of any monies due to MIDSTATE, the applicant grants MIDSTATE a security interest over all of its present and future acquired personal property. The applicant acknowledges MIDSTATE will perform an All Present and After Acquired Property – no exceptions registration on the Personal Property Securities Register. The applicant waivers the right to receive a verification statement.
4.15The applicant will indemnify MIDSTATE against financial loss or damage caused directly or indirectly by a breech of this agreement.
4.16The applicant shall notify MIDSTATE of any changes in particulars or ownership and or directorship, within 14 days of the changes taking effect. In accordance with provision 18E(8)(c) of the Privacy Act 1988, certain personal information relating to the applicant may be disclosed by MIDSTATE to a credit reporting agency. The information that may be disclosed is in section 18E (1) of the Privacy Act 1988 (“Permitted contents of credit information files”).
4.19In accordance with the provisions of paragraph 18L(1) of the Privacy Act 1988, use of personal information contained in the applicants credit report etc. by MIDSTATE may occur for the purpose of assessing the applicants application to MIDSTATE for credit.
4.20Claims for damage, supply shortage or non-delivery of goods must be made, and brought to the managers attention within 24 hours of the time of delivery.
4.21Please choose carefully. You are not entitled to a refund if you simply change your mind or make a wrong choice. You are entitled to a refund if the goods purchased:
We are happy to exchange, credit or repair the goods if you choose. This refund policy applies only if you return the goods within a reasonable time and you can prove that you have purchased the item from us.
4.22This agreement is subject to acceptance from MIDSTATE. MIDSTATE will notify the applicant of acceptance/declination once processing is complete (normally within fourteen working days).
4.23 We may, at any time, and at our sole discretion, modify these Terms and Conditions, with or without notice to the User. Any such modification will be effective immediately upon public posting. Your continued use of our Service or facility following any such modification constitutes your acceptance of these modified Terms. It is your responsibility to review the terms and conditions for updates or changes.
IN CONSIDERATION OF the MIDSTATE NOMINEES PTY LTD granting to the Applicant named above credit in accordance with the Terms and Conditions of Credit (the credit facility)
I/We (also referred to as the Guarantor(s)):
1. Guarantee the due and punctual payment to MIDSTATE NOMINEES PTY LTD of all monies which are now payable, and which are from time to time due by the Applicant to MIDSTATE NOMINEES PTY LTD under the credit facility.
2. Indemnify MIDSTATE NOMINEES PTY LTD against any losses, charges, and expenses which MIDSTATE NOMINEES PTY LTD might incur as a result of any default by the Applicant under the credit facility or the enforcement of this Guarantee, including but not limited to the costs of collection and legal costs.
I/We further agree and acknowledge that:
3. The Terms and Conditions of Credit are attached to the MIDSTATE NOMINEES PTY LTD Credit Application Form.
4. The Guarantors pledge their interest in all present and after acquired personal property in support of the guarantee. The guarantors acknowledge and accept that Midstate Nominees Pty Ltd will perform a PPSR registration in respect of their security and it will be registered as an all present and after acquired property registration.
5. The obligations under this Guarantee are continuing and will not be affected by MIDSTATE NOMINEES PTY LTD granting any extension, waiver or indulgence to the Applicant, any variation to the credit facility by MIDSTATE NOMINEES PTY LTD, the Applicant becoming subject to external administration or the refusal by MIDSTATE NOMINEES PTY LTD to supply further credit to the Applicant.
5. If there is more than one Guarantor, that the terms of this Guarantee are binding on all Guarantors jointly and severally.
7. MIDSTATE NOMINEES PTY LTD may exercise rights under this Guarantee without first having exercised or exhausted all its legal rights against the Applicant or any other Guarantor.
8. A Guarantor may revoke this Guarantee in accordance with this clause by delivering written notice to MIDSTATE NOMINEES PTY LTD.
Such a notice may be combined with notice of vacation of office within 14 days, as required under the Terms and Conditions of Credit. Revocation does not take effect until written acknowledgement of receipt of the notice by MIDSTATE NOMINEES PTY LTD. Revocation or release in respect of a Guarantor will not operate to discharge the Guarantor from any obligations with respect to liabilities
arising before the date of written acknowledgement by MIDSTATE NOMINEES PTY LTD, or operate to discharge liabilities of any other Guarantor.
9. MIDSTATE NOMINEES PTY LTD may obtain information about me/us from any credit reporting agency or credit provider for credit reference purposes and may disclose information about me/us and this Guarantee to a credit reporting agency.