Terms of Trade for Designmanagers Limited.
All pricing quoted is exclusive of GST. Any quotes given by the company is valid for the period of one calendar month from the date of the quote.
The terms of payment are 30 DAYS from the end of the month in which the goods were supplied. Should the account become overdue, the customer is liable for ALL COSTS incurred in collecting the overdue amount including any debt collection fees charged by an external party contracted by the company to recover such amounts. Collection costs are estimated to be 20-25% of invoiced amount.
3: Penalty Interest
The customer further accepts that penalty interest shall accrue on any overdue amounts exceeding 30 DAYS from the end of the month in which the goods were supplied - at a rate of 1.5% per month. Penalty interest will be included in any collection process.
Ownership of the produced works and intellectual property relating to such works shall remain vested in the company until the customer has made payment in full for all sums owing by the customer to the company. This shall include any interest and costs incurred in retrieving overdue sums.
IMPORTANT: In cases where electronic files (works) developed by the company have in good faith been passed on - at the request of the customer to external parties, the company reserves the right to request a stop of the distribution of any end product containing produced works until such time as payment is made in full for all sums owing by the customer to the company.
The company retains the right to withhold any works that are deemed to be in dispute until such time as the dispute is settled. Should arbitration be required over any dispute the company will accept the decision of any official arbitrator.
Acceptance of any invoice produced by the company indicates acceptance of Terms of Trade as published here.