(For wholesale and retail credit account holder only)
The following terms and conditions apply to all orders placed with and goods (“Goods”) supplied by Del Mundo Limited (“Del Mundo”) to the Customer.
These Terms and Conditions are governed by the laws of New Zealand.
Prices and Orders
Del Mundo may alter or replace these terms and conditions by either providing the Customer with the amended terms and conditions or notifying the Customer that the amended terms and conditions are on the Del Mundo website. All orders placed subsequently by the Customer shall be upon the amended terms and conditions.
No order shall be binding on Del Mundo until accepted in writing by Del Mundo or a person authorised on its behalf.
Del Mundo is not bound by any clerical errors whether in computation or otherwise in any acknowledgment, invoice, quotation or other communication and those errors shall be subject to correction.
All Goods offered by Del Mundo are subject to availability and all prices are subject to change. Del Mundo is not liable for any unavailable Goods or change in prices.
Unless Del Mundo have agreed to provide credit to the Customer, payment is due immediately upon issue of an invoice to the Customer and no Goods will be despatched until payment has been made.
Credit Card payments incur a fee of 2.9%.
If Del Mundo have agreed to provide credit to the Customer, payment is due as per the credit terms agreed and set in place with the Customer in accordance with the Del Mundo Credit Policy. These terms are to be strictly adhered to.
Risk and Ownership
Risk in any Goods supplied by Del Mundo to the Customer shall pass when the Goods are delivered to the Customer or into custody on the Customers behalf and it shall be the Customer’s obligation to insure the Goods from that time.
Title to and ownership of the Goods, in law and in equity, shall not pass to the Customer until all moneys payable to Del Mundo (whether for the Goods or otherwise) have been paid by the Customer in full. Until title in the Goods passes to the Customer, the Customer holds the Goods as bailee for Del Mundo and the Customer must;
- Keep the Goods in good condition
- Keep the Goods fully insured to their full replacement value against all risk
- Not encumber the Goods in any way
- Hold and keep the Goods separately from other property in the possession of the Customer and in any manner which enables the Goods to be easily identifiable as Goods supplied by Del Mundo.
If the Customer resells the Goods or any of them before payment is made the Customer shall hold the proceeds of resale of the Goods or any of them in trust for Del Mundo and account to Del Mundo for all moneys owed by the Customer to Del Mundo.
If the Customer resells the Goods or any of them so as to create a debt owed to the Customer, the Customer hereby assigns all legal and equitable title to that debt to Del Mundo and the Customer hereby irrevocably appoints Del Mundo as its attorney with all powers permitted by law for the purpose of effecting any such assignment and recovery of any such debt in the name of the Customer for the benefit of Del Mundo.
Del Mundo shall be entitled to repossess all Goods which it claims belongs to it at any time without notice and for such purpose it shall be lawful for Del Mundo and/or its agent to enter any premises where such Goods are or are believed to be and to remove such Goods. The Customer hereby indemnifies and agrees to hold harmless Del Mundo against any damage howsoever caused in relation to such entry and removal including consequential loss or damage to any third party or to the Customer.
Waiver and Variation
Del Mundo shall not be deemed to have waived or varied any provision of these Terms or any right or remedy which it may have under these Terms or at law or in equity or otherwise unless the waiver or variation is in writing signed by Del Mundo or an authorised person on its behalf. No waiver of a breach shall be deemed to be a waiver of any other breach or any further breach.
Del Mundo shall not be responsible to the Customer for failure to perform any of its obligations due to causes beyond its control including work stoppages, fires, civil disobedience, riots, rebellions, acts of God and similar occurrences. In such circumstances Del Mundo shall have the right at its discretion to delay the performance of its obligations until such causes cease or to cancel the whole or any part of the contract without incurring any liability to the Customer.
A credit facility may only be offered to a New Zealand registered company.
In order to perform a credit evaluation for a client, the following information must be provided:
- Trading Name,
- NZ Companies Registered Number,
- Incorporation Date,
- Physical Address,
- Director/Owner’s e-mail and phone contact,
- Contact Name for Accounts Payable,
- Signed and completed credit application.
Following a successful credit application and evaluation, the following credit terms may be set;
- All terms set as payment on 20th of the following month from date of purchase.
a. Payment is to be made without deduction, set off or cross claim, in cash, by direct credit or by credit card
- Credit Limit
Offering Customer Credit Terms
Terms may only be set for the customer following a written communication of terms to the client and written acceptance of terms from the client.
Del Mundo reserve the right to impose a credit limit at any time, which may be altered or withdrawn at Del Mundo‘s sole discretion with effect from the date that Del Mundo notifies the Customer of such change.
If at any time it deems the credit of the Customer to be unsatisfactory Del Mundo may require security for payment and may suspend performance of its obligations under these terms and conditions until the provision of security sufficient to Del Mundo in all respects. All costs and expenses of, or incurred by, Del Mundo as a result of such suspension and any recommencement shall be payable by the Customer upon demand.
Credit Term DefaultsDefinition of Default
Where any payment is not made on the due date, then without prejudice to any other rights or remedies available to Del Mundo under these terms and conditions or at law or in equity or otherwise, Del Mundo may:
- Charge interest, by way of liquidated damages, on all overdue accounts at the rate of 2% per month calculated on a daily basis and compounding monthly from the date on which payment was due until payment is made.
- Withhold deliveries or cancel undelivered orders or portions of such orders, retain as liquidated damages any moneys paid by the Customer and sue the Customer for damages without being liable to the Customer for any losses of any kind that it might suffer.
Accounts with invoice/s unpaid 3 days following the due date will be placed on credit hold, and no additional credit will be extended until after the payment of overdue invoice/s.
Accounts where acknowledged credit limit has been exceeded by 20% will be placed on credit hold, and no additional credit will be extended until after the payment of overdue invoice/s.
Whilst a client is on ‘Credit Hold’ – pending orders may be released upon receipt of payment. A ‘Hold’ may only be lifted upon evidence of receipt of payment. This may be demonstrated by seeing the amount enter our bank balance, official bank remittance or a written communication from the client that they have made payment.
Factors to Hold Credit
- Client has defaulted without communicating prior notice of intended default to Del Mundo.
- Obvious cash flow concerns have been raised about the client from credible sources.
Credit Default Assessment and Actions
- A credit default assessment takes place;
- When a Customer makes a payment, and clears their account following a default.
- Credit terms remain unchanged
- Conduct a credit limit review and revision
- A Direct Debit or Credit Card Authority sought and received before the hold may be lifted
- Credit facility removed
A client’s credit terms may be re-evaluated after 3 upfront payments.