3.1 The Company’s net monthly account shall be payable on or before the last day of the month following that of the date of the invoice. All payments are to be made on or before the due as a condition precedent to future deliveries.
3.2 The Company issues monthly statements of account. Disputes in connection with payments arising there from must be submitted in writing to the Credit Controller of the Company and received by the Company within thirty days of the date of the invoice.
3.2.1 Any dispute relating to a portion of the purchase to a portion of the purchase price shall be dealt with as follows:
22.214.171.124 The Customer shall pay that portion of the purchase price in dispute into the Company’s nominated Attorneys’ Trust Account, to be held in Trust pending the outcome of the dispute, where the amount shall be invested in an interest bearing trust account as is envisaged by Section 78(2) (A) of the Attorney Act.
126.96.36.199 In the event of the dispute being finally decided in favour of the Company, the Company’s nominated Attorneys are irrevocably authorized to pay the monies (including interest earned thereon) to the Customer.
188.8.131.52 In the event of the dispute being finally decided in favour of the Customer, the Company’s nominated Attorney’s are irrevocably authorized to pay the monies (including interest earned thereon) to the Customer.
184.108.40.206 The difference between that portion of the purchase price in dispute and the total purchase price shall immediately be paid to the Company, and shall not under any circumstances be held by the Customer pending the determination of any dispute.
3.3 The Company reserves the right to suspend deliveries and to revoke any trading benefits for non-compliance with any of the terms and conditions contained herein.
3.4 A statement signed by the Company specifying the amount owing by the Customer shall be prima facie proof of the amount of such indebtedness and fact that the payment thereof is due to the Company and shall be a liquid document, sufficient for all purposes, including obtaining judgment and provisional sentence against the customer.
3.4.1 Notwithstanding the provisions contained in Clause 11 hereinafter, all risk of loss or damage in respect of goods delivered shall pass to the Customer on delivery. The Customer shall hold all unpaid goods fully insured against all loss and damage and shall pay the proceeds of any insurance claim to the Company.
3.4.2 If the Company shall make default in or commit any breach of any of obligations to the Company, or if any judgment by a Court of Law is granted against the Customer, or if he (the Customer) shall make or offer to make any arrangement or composition with creditors, or commit any act of insolvency, or if any order is granted against the Customer for its Provisional or Final Liquidation/Sequestration, or if the Customer shall be a limited company and any resolution or petition to wind up such company’s business shall be passed or presented otherwise than for reconstruction or amalgamation, or if a receiver of such company’s business shall be passed or presented otherwise than thereof shall be appointed, the Company shall have the right forthwith to determine any order then subsisting and upon written notice of such determination being posted by it to the Customer’s last known address, any subsisting order shall be deemed to have determined without prejudice to any claim or right the Company might otherwise make or exercise.
3.5 The Company shall be entitled to recover, in addition to all the aforesaid amounts, all costs disbursed by it to its Attorneys in securing the Customer’s compliance with the provisions hereof which costs may be taxed and recovered on the scale as between attorney and its client and shall include the costs of all necessary attendances, tracings and opinions given, whether action has been instituted or not.