GENERAL SALE CONDITIONS

1. CONTRACT

Every contract between Bonanza Wholesale Fashions (The Seller) and the customer to whom the seller agrees to sell goods (The Buyer) shall be subject to these conditions which shall supersede and prevail over all other terms referred to in the buyers order.  No variation of these terms shall be binding upon the seller unless confirmed in writing and signed by a Director of the sellers.

2. All orders are filled as quickly as possible.  Delivery dates are approximate and non-binding.

3. The merchandise always travels at customer’s risk and perils, even when it concerns a pre paid freight delivery.  In the case of non-delivery, or when any discrepancy occurs as regards the delivery of goods the buyer has to confirm the same by Registered Letter to the latter within 48 hours.

4. If the merchandise is defective the buyer can only return it to us after we have inspected it and given our approval in writing of such return.  In any event the responsibility of the seller shall be limited to the replacement of defective merchandise, according to availability.

5. TITLE

The property in the goods shall not pass the buyer until the full price of the goods and all goods, which are the subject of any other contract between the buyer and the seller, are paid.  Until such times as full price of all such goods has been paid:

(a) The buyer at its premise in such a manner that they are clearly identified as the goods of the seller and shall be kept separate from any other goods whether or not supplied by the seller shall hold them.

(b) They shall be handed over to the seller on demand and the seller shall be entitled to re take possession of them without prejudice to enter into the buyer’s premises for the purpose of recovering the goods.

If the buyer fails to pay for the goods in accordance with these terms the seller will have the right to bring as action against the buyer for the price of the goods at any time notwithstanding that property in the goods has not passed to the buyer.

6. Until full payment has been received for all the goods supplied by the seller under this contract or any other contract which the parties hereto may enter into all indebtedness owing

(a) Legal and beneficial ownership of the goods shall remain with the seller

(b) The buyer shall deliver up the goods to the seller on demand by the seller in writing for such delivery

(c) Subject to (d) and (e) below the buyer shall be at liberty to sell the goods in the course of business on the basis that the proceeds of the sales remain the property of the seller and the seller shall have full legal and beneficial ownership of the goods and that the proceeds of sales shall be the property of the seller to whom the buyer shall account on demand until the seller is paid in full.

(d) The seller may at any time revoke the buyers power of sale by notice to the buyer if the buyer is in default of payment for longer that seven days or if the seller has bona fide doubts as to the solvency of the buyer

(e) The buyers power of sale shall automatically cease where a receiver is appointed over the assets or the undertaking of the buyer or a winding up order is made against the buyer or buyer goes into voluntary liquidation (otherwise than for the purpose of reconstructions or amalgamation) or calls a meeting or makes arrangements or composition for creditors or commits an act of bankruptcy

(f) Upon determination of the buyers power of sale the buyer shall place the goods at the disposal of the seller who shall entitled to enter upon any premises of the buyer for the purpose of removing the goods and to such goods from the premises

(g) The seller may maintain an action for the price of the goods sold notwithstanding that property in them may not have passed to the buyer.