KURUMSAL

CONDITIONS OF SALE

7. PAYMENT - Unless otherwise stated, payment shall be made in full for all goods supplied within the terms of related quotation or Proforma Invoice, provided that Panoto Radiator Machinery Inc. reserves the right to vary the terms of payment or require payment in full prior to delivery if, in the opinion of Panoto Radiator Machinery Inc., the purchaser’s creditworthiness becomes unsatisfactory. Neither part nor whole of any invoiced value shall be withheld from Panoto Radiator Machinery Inc. due to non-payment to the purchaser by the purchaser s client, or any other reason outside the responsibility of Panoto Radiator Machinery Inc.. Interest will be charged on overdue accounts at the rate provided for by the Penalty Interest Rates Act 1983 (Vic) plus 2% compounded daily from (and including) the date of due payment until (but excluding) the date of payment in full of the overdue account with interest. Panoto Radiator Machinery Inc. will treat any default by the purchaser in payment of any monies due to Panoto Radiator Machinery Inc. as a breach of these Conditions of Sale. The purchaser must pay to Panoto Radiator Machinery Inc. any costs, expenses or losses incurred by Panoto Radiator Machinery Inc. as a result of the purchaser s failure to pay to Panoto Radiator Machinery Inc. all monies outstanding from the purchaser to Panoto Radiator Machinery Inc. (including, without limiting the generality of the obligations set out in these Conditions of Sale, any debt collection, mercantile agent and legal costs).

8. PROPERTY - (a) Property in any goods shall not pass from Panoto Radiator Machinery Inc. to the purchaser until the purchaser has paid all monies outstanding by the purchaser to Panoto Radiator Machinery Inc. on any account in full. (b) The risk of loss or of damage to the goods shall pass to the purchaser on dispatch. (c) The purchaser agrees to store the goods separately and mark them so as to render them identifiable as being or being made from or with goods which are the property of Panoto Radiator Machinery Inc.. (d) Should the goods (or any part of them) be converted into or incorporated in a new product or products (the new products) whether or not the admixture of any other goods or thing whatsoever and in whatever proportions is involved, the conversion or incorporation (as the case may be) shall be deemed to have been effected on behalf of Panoto Radiator Machinery Inc. and the new products shall be the property of Panoto Radiator Machinery Inc.. The right of the purchaser to convert or incorporate the goods in a new product or products shall automatically cease if a receiver or receiver and manager is appointed over any of the purchaser's assets or if a winding up order is made against or a resolution is passed for the winding up of the purchaser or if Panoto Radiator Machinery Inc. at any time revokes such rights by notice to the purchaser. (e) The purchaser shall have no right to sell or otherwise dispose of the goods or the new products until the price of the goods has been paid in full to Panoto Radiator Machinery Inc. unless: (i) the goods or the new products are sold in the ordinary course of the purchaser's business; and (ii) that part of the proceeds of sales of the goods and the new products as represents the price of the goods shall be paid forthwith to Panoto Radiator Machinery Inc. and...