General Terms and Conditions of Sale
Titles to Goods Supplied
1. Title to all goods supplied by SAECOWilson Limited ("the company") shall remain the property of the company until payment has been made for such goods in full by the person/firm/company ("the Customer") named overleaf and any cheque or other instrument of payment has been cleared and the company's account with its bankers unconditionally credited for the full amount due.
If more than one item is recorded in an invoice issued by the company to the Customer then title to the goods recorded in that invoice shall pass from the company to the Customer only at the point in time when payment in full is received by the company for all goods recorded in that invoice.
The Customer shall hold goods as bailee only until title passes in accordance with the foregoing.
2. If the Customer fails to make payment in full on due date the company shall be entitled (whether or not demand has been made and without the necessity for giving further or other notice) to retake possession of all goods in respect of which payment in full has not been received in accordance with the foregoing provisions.
The Customer hereby authorises the company by its agents to enter upon the premises of the Customer or any other premises where the goods supplied by the company may be located for the foregoing purpose and agrees to indemnify the company for all costs and claims incurred or suffered as a consequence of doing so.
3. In any case where the company retakes possession of goods supplied the company shall have the option in its sole discretion of electing either to allow a credit for the value of the goods repossessed or to resell the goods. The Customer shall be liable upon demand being made to pay to the company an amount to equal to the aggregate of-
i. the value of the goods or the net amount received on resale of the goods (as the case may be),
ii. interest in accordance with the provisions of clause 10 hereof,
iii. all costs and expenses incurred on repossession and (if applicable) resale of the goods, and
iv. an amount equal to 20% of the original sale price of the goods as recompense for administration and rehandling the goods less
a. any credit allowed by the company or the net amount received on resale (as the case may be), and