Application for Credit Facilities Please complete all sections accurately, as this will avoid unnecessary delay, in terms of this agreement the person/entity completing this Application Form shall be described as the Applicant. Please ensure that you initial each page. Trading name of Business (Applicant): Physical address:.. Postal address:.. Tel: Fax: Email: Website: Page 1of 8
To be completed if Applicant is a Company Name of Company: Registered office address: Company registration: To be completed if Applicant is a Close Corporation Registration number: To be completed if Applicant is a Partnership Name of partnership: To be completed if Applicant is Sole Proprietorship Name of Sole Proprietorship: How long has business been established: Date of registration: VAT registration no: Estimated monthly purchases: Credit limited requested: Page 2of 8
Directors' / Members' / Owners' full names and particulars Full names: Residential address: Date of Birth: Home Tel: ID Number: Full names: Residential address: Date of Birth: Home Tel: ID Number: Full names: Residential address: Date of Birth: Home Tel: ID Number: Bank Information Name of Bankers: Branch: Account number: How long in operations: Name in which account is operated: Has Applicant of Directors' / Members' / Partners' / Owners' ever been insolvent or offered a compromise to creditors? Date of rehabilitated: Contact person in Applicant's accounts department: Page 3of 8
Detail of principal Trade Suppliers Name of Supplier: Tel: Average monthly purchase: Terms: Contact person: Name of Supplier: Tel: Average monthly purchase: Terms: Contact person: Name of Supplier: Tel: Average monthly purchase: Terms: Contact person: I/we the Applicant or their duly authorized agents do hereby apply for credit facilities with Tradevest Logistics and in consideration hereof I/we hereby bind the Applicant of the Standard Terms and Conditions attached here to, and understand the contents thereof. I/we warrant that the information submitted above is true and correct, and that all other terms and conditions of sale are as reflected below. Signed by the applicant, or its duly authorized agent, who hereby warrants the he/she is authorized to sign on behalf of the Applicant. DATED AT ON THIS THE DAY OF 20 APPLICANT SIGNATURE: FULL NAMES: CAPACITY: COMPANY STAMP Page 4of 8
STANDARD TERMS AND CONDITIONS 1. GENERAL 1.1 These facilities are the basis of the conditions contained in this Application. 1.2 These conditions shall be read with and shall supplement any specific conditions of sale contained in ay subsequent agreement. If any of the conditions of sale conflict with the terms of this contract shall prevail. 1.3 A certificate signed by any director of Tradevest Logistics (the creditor) showing the amount owing by the Applicant to the creditor in respect of the facilities granted to the Applicant and of the fact the amount is due and unpaid shall be sufficient and satisfactory proof of the Foote therein stated for the purpose of any action (whether by way of provisional sentence of otherwise), proof of debt or insolvency or for any purpose whatsoever where the amount of such claim is required to be establish and it shall rest with the Applicant to prove that such amount is not owing (and / or due and unpaid). 1.4 Notwithstanding the amount which may at any time be owing by the Applicant to the creditor, the Applicant hereby specifically consents in terms of Section 45 of the Magistrate's Court Act 32 of 1994 (as amended) to the jurisdiction over the Applicant for determination of said Court which may be brought by the creditor against the Applicant arising out of a transaction between the parties, it being understood that the creditor shall be entitled, but not obliged, to bring any action or proceeding in the said Court and that all costs, including those of the attorney and own client scale, attorneys' collection commissions, tracing agents fees and the like, will be paid by the Applicant. 1.5 The contract shall be enforced and interpreted in accordance with the Laws of the Republic of South Africa. The parties hereto submit themselves to the jurisdiction of the High Court of South Africa (Mpumalanga Provincial Division) and the Magistrate's Court for the district of Nelspruit. 1.6 By his/her/their signature/s hereto signatory/ies bind himself/herself/themselves in his/her/their private and individual capacity/ies and co-principal debtor/s with the Applicant for the payment to the creditor of any amount, which may at any time become owing to the creditor by the Applicant form whatsoever cause arising. This guarantee shall be a continuing guarantee to the creditor and then only provided that all sums then owing by the Applicant (whether due or not) the creditor have been paid in full. He/she/they renounce/s the benefits of the legal exceptions noncause debiti, ordinis sea exaussionis at divisionis and caccion of action with force, meaning and effect of which he/she/they declare/s himself/herself/themselves to be fully acquainted. He/she/they bind himself/herself/themselves to the conditions contained in these conditions. 1.7 The granting, refusal or withdrawal of credit facilities, including the nature and extent of such facilities and the payment in terms thereof shall at all times be at the sole discretion of the creditor who may withdraw at any time without prior notice to the Applicant. 2. PAYMENT TERMS 2.1 The creditor will present the Applicant with all invoices and P.O.D;s for any given month be no later than the 7th day of the following month. 2.2 The Applicant must accept the original P.O.D. as bona fida proof of delivery and fulfilment of the original transport order. 2.3 The Applicant hereby warrants that payment will be made on copy documentation (as specified in 2.2 above) and will hold or stop payment awaiting 'original' documents. 2.4 Payment must be made in full, free of any commission, brokerage, exchange and/or deduction set off within thirty (30) days from date of statement. Page 5of 8
2.5 Should any price or remuneration not be paid due date then: 2.5.1 all amounts owing by the Applicant to the creditor for whatever reason shall become immediately due and payable, notwithstanding the fact that portions of such amounts might not yet be due and payable: 2.5.2 the Applicant shall be liable to the payment of interest on all amounts overdue at the rate of 4 % (four percent) above the prime rate of First National Bank from time to time. 2.6 Payment shall not be set off or withheld on account of any counter-claim of the Applicant unless some is acknowledge by the creditor in writing. 2.7 In the event of the Applicant tendering a cheque or any other negotiable instrument, then payment will only be deemed to have been made once the said cheque or negotiable instrument has been met by the relevant bank or paying authority. 2.8 All bank charges shall be for the Applicant's account and shall be accepted by the Applicant as such. 2.9 All payments mad to the creditor shall be made at the address of the creditor, set out on the face hereof, or at such address as the creditor may form time to time designate in writing. 2.10 The creditor shall accept electronic payments in the Republic of South Africa and only if the creditor advises the Applicant in Writing that it is prepared to do so. 2.11 Payment may only made by the Applicant to the creditor in the currency in which the creditor invoices the Applicant. 3. SALES OF BUSINESS 3.1 If the Applicant is an unincorporated business or partnership then, notwithstanding the sale of the Applicant by the sole proprietor of partners, the sole proprietor or partner/s (jointly and severally) as the date of delivery of the goods to the Applicant shall be liable for payment to creditor of all amounts owing to the creditor in respect of the goods delivered. 4. ESTOPPEL 4.1 In the event of any order being given to the creditor on the Applicant's official order form, the Applicant shall be stopped form denying the validity of such an order, not withstanding the fact that such order may have been given or signed by a person not authorized to do so. 5. COSTS 5.1 Should the creditor institute any Application or action against the Applicant in respect or any monies owing by the Applicant to the Creditor, then the Applicant shall pay to the creditor all costs incurred thereby including attorneys fees on the scale as between attorneys and own client and furthermore all collection commission. 6. CESSION 6.1 The creditor shall be entitled to cede to any holding, subsidiary affiliated company or business any of its rights to any agreement existing between the Applicant and the creditor or to any right arising out of sale of any foods by the creditor to the Applicant, as set out on the Application for Credit. 7. DOMICILIUM 7.1 The Applicant chose as his/her/their domicilium citandi et executandi for all purposes in terms of this agreement the physical address of the Applicant, as set out on the Application for Credit. Page 6of 8
8. DISCLOSURE OF FINANCIAL STATEMENT 8.1 The Applicant will make available to the Credit Manager/s or creditor the financial statements and balance sheets for any periods, which may be requested by the Credit Manager/s of the creditor. 9. ENTIRE AGREEMENT 9.1 These conditions constitute the whole and entire agreement between the parties. Any previous conditions or agreements in conflict with the provision herein contained are hereby cancelled and there are no agreements, representations or warranties between them other than those specifically set forth herein. 9.2 No indulgences on the part of any party in exercising any rights conferred upon such party in terms of these conditions shall constitute a waiver of such rights, nor shall any single or partial exercise of any right preclude any other future exercise thereof or the exercise of any rights under these conditions. 9.3 No variation or modification of these conditions shall be of any force or effect unless the same shall be confirmed, in writing, and signed by both parties, and then such variations or modification shall be effective only in the specific instance, and for the purpose and to the extent for which made or given. DATED AT ON THIS THE DAY OF 20 APPLICANT SIGNATURE: FULL NAMES: CAPACITY: COMPANY STAMP Page 7of 8
DIRECTORS / MEMBERS / PARTNERS / SURETYSHIP I/we, the undersigned, Full Names: ID no: Full Names: ID no: Full Names: ID no: Full Names: ID no: Being a director/member/partner/sole proprietor of: Trading as: Being the Applicant, do hereby bind myself/ourselves as surety/les and co-principal debtor/s in solidum for all amounts which as or may in future become due by the Applicant to Tradevest Logistics (the creditor). I/we the benefits of excussion and division the nature and extent whereof I/we acknowledge myself/ourselves to be aware and I/we agree that any extension of time of indulgence by the creditor to the Applicant shall in no way effect of vitiate this my/our guarantee/s. I/we consent to the jurisdiction of any Magistrate's Court having jurisdiction over myself/ourselves in terms of Section 54 of the Magistrate's Court Act 32 of 1994 (as amended) in respect of any legal proceedings (whether by way of provisional sentence an/or Summons) which the creditor may wish to institute against me/us arising out of any transaction between the creditor and myself/ourselves and/or the Applicant, notwithstanding the fact that the amount or value of the creditor's claim might otherwise exceed such jurisdiction, but further agree notwithstanding such consent, the creditor may at its option institute any such proceedings in die division of the High Court of South Africa having jurisdiction. I/we shall be liable for all costs incurred by the creditor as between attorney and own client in recovering or attempting to recover any such overdue amount all tariff collection commission charged by recovering attorney, tracing agents fees and the like. DATED AT ON THIS THE DAY OF 20 SURETY: SURETY: SURETY: SURETY: Page 8of 8