1. Payment shall be made according to the schedule stated in the relevant quotation, invoice or purchase order accepted by HM Traders.
2. Unless otherwise agreed in writing, orders shall require advance payment. Imported, specially ordered and customized products may require up to 100% advance payment.
3. An order shall be processed only after cleared funds are received in the designated bank account of HM Traders.
4. All payments must be made through an approved banking channel or another payment method authorized by HM Traders. Bank charges, transfer fees, taxes and withholding obligations shall be borne by the customer unless otherwise agreed.
5. Payment shall not be withheld due to installation or documentation issues that are caused by the customer’s failure to provide site readiness, access, approvals or required information.
6. Credit facilities, where specifically approved in writing, shall be subject to the agreed credit period. HM Traders may suspend further supplies, technical services or warranty support relating to overdue accounts until outstanding payments are cleared, subject to applicable contractual and legal requirements.
7. Overdue amounts may attract reasonable late-payment charges where permitted and expressly stated in the quotation or contract.
8. The ownership of supplied products shall remain with HM Traders until full and final payment has been received. Risk in the products may pass to the customer upon delivery, notwithstanding the retention of ownership.
9. The customer may not make unauthorized deductions, set-offs, adjustments or retention from an invoice.
10. Advance payments for imported, customized, procured-on-demand or specially ordered products are non-refundable after the order has been placed with the manufacturer or supplier.
11. Any dispute concerning an invoice must be submitted in writing within seven (7) days of receipt. The undisputed portion of the invoice must be paid within the agreed period.