In the event that an account is opened in my favour, I agree to the following conditions applying to credit arrangements between the supplier and myself:-

1. All goods will be supplied at the prices ruling at date of delivery.

2. Terms of payment strictly thirty (30) days.

3. Goods purchased in one month must be paid for on or before the last working day in the following month. If I fail to comply with this condition, credit may be withdrawn without prior notice to myself.

4. Interest will be payable by me on accounts not paid by the due date at a rate from time to time determined by the supplier but not exceeding 18 percentum per annum, such interest to be charged from the due date for payment and calculated at monthly rests.

5. Payments made by me will be applied firstly to interest payable on amounts overdue, secondly in satisfaction or part satisfaction of overdue accounts and thirdly in satisfaction or part satisfaction of the amount owing on current account.

6. Retention of Title:-
1. The seller:
a) Will not pass title to the buyer until the buyer pays for the goods in full;
b) May sue the buyer for the price of the goods even though title has not passed.
2. The buyer:
a) Is responsible for the goods once they take possession;
b) Will hold the goods as bailee for the seller;
c) Will store the goods separately
d) Will hold the proceeds of the sale of the goods separately on trust for the seller until the seller has been paid;
e) May use the goods in a manufacturing or other process so long as that part of the sale proceeds attributable to the goods are held on trust for the seller;
f) Permits the seller to enter any premises occupied by the buyer for the purpose of inspecting or recovering the goods.
3. This clause is not a charge for the purpose of the Corporations Law.