ServicesSectors
1. Payment Terms and Deadlines
- Standard Terms: Payment is due 30 days from the date of the supplier's statement.
- Final Deadline: All payments must be settled no later than the last day of the month following the month of purchase.
- Extensions: Any deviations from these terms must be granted by senior management in writing.
- Immediate Maturity: All outstanding amounts become due and payable immediately if the customer breaches any terms, faces liquidation, sequestration, or judicial management.
2. Interest on Overdue Accounts
- Accrual: The supplier reserves the right to charge interest on all overdue amounts from the due date until the date of full repayment.
- Rate: Interest is charged at the prescribed rate as per the Prescribed Rate of Interest Act, 55 of 1975 (currently 15.5%).
3. Proof of Debt and Delivery
- Certificate of Balance: A certificate signed by a Qinisa member or manager serves as prima facie proof of the amount owed and any interest due.
- Proof of Delivery: A signed invoice or delivery note (by the customer, employee, or agent) serves as proof that goods were received in good condition.
- Onus of Dispute: If receipt is disputed, the burden of proof rests on the customer.
4. Ownership and Risk
- Retention of Title: Ownership of all goods remains with Qinisa Steel until the purchase price is paid in full.
- Transfer of Risk: Risk regarding the goods passes to the customer immediately upon delivery to the customer or their agent.
5. Warranties and Liability
- No Implied Warranties: Qinisa Steel disclaims all warranties not expressly stated, including implied warranties of merchantability or fitness for a specific purpose.
- Agreement Limitation: No warranties exist beyond those expressly provided within the standard terms.
Note: All sales are subject to Qinisa’s full Standard Credit Terms and Conditions of Trade. The full document is available upon request or at www.qinisasteel.co.za.