Terms and Conditions of Trade

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1. Payment Terms
All accounts are payable in full by the 20th of the month following the date of purchase. This due date applies unless otherwise agreed in writing.

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2. Cheques
Please note that Logan Distribution Ltd no longer accepts cheques as a form of payment.

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3. Interest on Overdue Accountså
Interest may be charged on any overdue amounts at the current applicable rate. Interest will accrue daily until the outstanding balance is paid in full.

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4. Default
In the event of default in payment, or if the customer becomes bankrupt, insolvent, or assigns assets for the benefit of creditors, all outstanding amounts become immediately due and payable at the discretion of Logan Distribution Ltd.

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5. Recovery Costs
The customer agrees to pay all costs incurred by Logan Distribution Ltd (including legal fees on a solicitor/client basis) in the recovery of overdue amounts.

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6. Retention of Title
Ownership of goods supplied by Logan Distribution Ltd / Lucas Oil NZ remains with the company until full payment has been received for all amounts owing.
Customers may sell goods in the ordinary course of business, but:

• Proceeds from such sales must be held in a separate trust account for Logan Distribution Ltd.

• The customer acknowledges a fiduciary relationship with Logan Distribution Ltd in respect of those proceeds.

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7. Security Interest
The customer grants Logan Distribution Ltd a security interest (as defined in the Personal Property Securities Act 1999) in all goods supplied. The customer agrees to sign any documents and take any steps necessary to ensure this interest is perfected.

The customer must not allow any other party to register a financing statement over the goods without prior written consent from Logan Distribution Ltd

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8. Repossession Rights
Logan Distribution Ltd (or its agents) reserves the right to enter any premises where goods are stored and repossess them if:

• Payment has not been made by the due date;

• The customer becomes bankrupt or a receiver/liquidator is appointed;

• The customer indicates an inability or unwillingness to pay.

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9. Risk
All goods are at the customer’s risk from the moment they leave Logan Distribution Ltd’s warehouse or facility for delivery.