ACKNOWLEDGEMENTS, UNDERTAKINGS AND AGREEMENT:

 

The Applicant and (if applicable) its directors, partners and guarantors who sign this application or any part of it or any accompanying document, including the deed of guarantee and indemnity below ("Related Persons") acknowledge, undertake and agree as follows:

 

Terms of credit:  If the Supplier approves this application for credit either in whole or in part, the Applicant will agree to, and accept, the terms and conditions on which the Supplier will provide credit to the Applicant.  Without limiting the foregoing, the Applicant undertakes to pay the Supplier's invoices by their due dates.

 

Terms and conditions of trade:  The Applicant has received the terms and conditions of trade forming part of, or accompanying, this application and unconditionally agrees to be bound by them.

 

Duty of disclosure:  The Applicant has provided all information necessary for the Supplier to determine whether to provide credit, and acknowledges that the Supplier relies on that information in good faith to process this application.  The Applicant warrants that all information and representations contained in, or accompanying, this application or provided in connection with it are true and correct and not misleading or deceptive in any particular (whether by inclusion or omission).  The Applicant warrants that it is not aware of any matters that would cause any reasonable person in the Supplier's position to refuse credit to the Applicant, or of any actual or threatened proceedings, claims or actions that could lead to bankruptcy of the Applicant or to the appointment of an administrator, controller or managing controller, receiver or manager or liquidator to the Applicant or any of its property. The Applicant does not intend to enter into any scheme of arrangement or composition (official or unofficial) with its creditors, and warrants that it is able to pay its debt as and when they fall due.

 

Privacy Act:  The Applicant and its Related Persons consent and agree to the following, to the extent permitted by the Privacy Act 1988 (Cth):

  • the information provided in, accompanying or given or obtained in connection with, this application ("Information"), including any personal information about the Applicant and its Related Persons, being used by the Supplier for the purposes of assessing this application and determining whether to provide credit to the Applicant and any related purpose ("Purposes");
  • the Supplier seeking and obtaining information about the Applicant and its Related Persons from third parties (including trade referees and credit reference providers) and using it for the Purposes;
  • the Supplier disclosing Information to credit reporting agencies and giving to, and seeking from, trade referees and credit reference providers information concerning the credit standing, worthiness, history and capacity of the Applicant and its Related Persons;
  • such information being used to assess credit worthiness, or to notify other credit providers of any default by the Applicant or its Related Persons;
  • the Supplier exchanging information with other credit providers as to status of the Applicant's trading account with the Supplier if it is in default and for the collection of overdue debts;
  • the Supplier giving to any guarantor of the Applicant a report concerning the Applicant's credit for the purpose of the guarantor deciding whether to guarantee or continue to act as guarantor for the Applicant; and
  • the Supplier disclosing Information and other information about the credit worthiness of the Applicant and its Related Persons to the Supplier’s related entities, and the use by those related entities of such Information and other information for the Purposes.

 

National Credit Code declaration:  The Applicant declares that the credit to be supplied by the Supplier is to be applied wholly or predominantly for business or investment purposes (or for both).

 

Security:  The Applicant freely charges and mortgages, as security for all of its obligations and liability to the Supplier (whenever and howsoever arising), all of the Applicant's real and personal assets (being present and after-acquired property) and agrees to execute on demand by the Supplier such mortgages, charges and general security agreements (in registrable form, if applicable) in favour of the Supplier as mortgagee/chargee/secured party, over all or any part of the Applicant's assets and real estate containing such covenants as the Supplier may require, and agrees to the Supplier placing a caveat on the title to any real estate the Applicant owns in respect of this grant of security, and agrees to the Supplier registering each security interest hereby granted on the Personal Property Securities Register (if so registrable).  The Applicant irrevocably appoints the Supplier as its attorney for the purpose of doing either in its own name or in its capacity as attorney all such acts, matters and things as the Supplier from time to time considers necessary or expedient for the purpose of effecting all the powers and authorities contained herein.