Credit Application

1. PRIVACY ACT. THE APPLICANT AGREES TO BEBBLE OBTAINING FROM ITS BANK CREDIT REPORTING AGENCIES OR OTHERS A CREDIT REPORT CONTAINING PERSONAL CREDIT INFORMATION ABOUT THE APPLICANT IN RELATION TO COMMERCIAL CREDIT PROVIDED BY BEBBLE. THE APPLICANT AGREES THAT BEBBLE MAY GIVE TO AND SEEK FROM ANY TRADE REFERENCES OR CREDIT PROVIDERS NAMED IN THIS CREDIT APPLICATION AND ANY CREDIT PROVIDERS THAT MAY BE NAMED IN A CREDIT REPORT ISSUED BY A CREDIT REPORTING AGENCY, INFORMATION ABOUT THE APPLICANTS ARRANGEMENTS. THE APPLICANT UNDERSTANDS THAT THIS INFORMATION CAN INCLUDE ANY INFORMATION ABOUT ITS CREDIT WORTHINESS, CREDIT STANDING, CREDIT HISTORY OR CREDIT CAPACITY THAT CREDIT PROVIDERS ARE ALLOWED TO GIVE OR RECEIVE FROM EACH OTHER UNDER THE PRIVACY ACT. THE APPLICANT AGREES THAT BEBBLE MAY CONTINUE TO SEEK OR GIVE COMMERCIAL / CONSUMER INFORMATION RELATING TO THE APPLICANT'S CREDIT WORTHINESS AND RELATING TO THE COLLECTION OF OVERDUE PAYMENTS.


2. THE APPLICANT AGREES TO PAY FOR ALL GOODS SOLD AND DELIVERED OR SERVICES PROVIDED IN ACCORDANCE WITH THE TERMS OF THE INVOICE OR WITHIN SUCH OTHER PERIOD OR TIME AS MAY BE NOTIFIED TO ME FROM TIME TO TIME BY BEBBLE. DISPUTED AND/OR CLAIMS DO NOT CONSTITUTE GROUNDS FOR NON-PAYMENT OF AMOUNTS OTHER THAN THOSE IN DISPUTE.


3.
THE APPLICANT CANNOT USE THE CREDIT FACILITY UNTIL IT RECEIVES NOTICE IN WRITING FROM BEBBLE STATING THAT THE FACILITY HAS BEEN GRANTED AND UNTIL THEN ALL ACCOUNTS FROM BEBBLE SHALL BE ON A CASH BASIS UPON DELIVERY OF THE GOODS.


4.
UNLESS THE COMPANY AGREES TO THE POSTPONEMENT OF PAYMENT OF ANY MONIES OWING TO BEBBLE BY THE APPLICANT, INTEREST SHALL BE PAYABLE BY THE APPLICANT ON THE HIGHEST DEBT BALANCE OF EACH CALENDAR MONTH ON
MONIES OWING BY THE APPLICANT TO GENTRONICS, CALCULATED DAILY FROM THE DATE THE MONIES BECAME DUE UNTIL TH EACTUAL DATE OF PAYMENT AT A RATE OF 14% PER ANNUM PROVIDED THAT, BEBBLE MAY, AT ANY TIME SERVE ON THE APPLICANT A NOTICE VARYING AS FROM THE FUTURE DATE SPECIFIED THEREIN THE INTEREST RATE, AND THE INTEREST RATE SHALL BE VARIED AS THEREIN PROVIDED FROM THE DATE THEREIN SPECIFIED, BEING A DATE NO LESS THAN SEVEN (7)DAYS AFTER THE DATE OF SERVICE OF SUCH NOTICE.


5. PAYMENTS RECEIVED BY BEBBLE WILL BE APPLIED FIRSTLY IN REDUCTION OF INTEREST PAYABLE AND ACCRUING FROM MONTH TO MONTH; AND SECONDLY IN REDUCTION OF ALL OTHER MONIES OWING TO BEBBLE UNTIL SUCH A TIME AS ALL MONIES OWING TO BEBBLE HAVE BEEN PAID IN FULL.


6. BEBBLE MAY WITHDRAW THE FACILITY AT ANY TIME WITHOUT NOTICE, OR BEBBLE MAY FROM TIME TO TIME OR AT ANYTIME INCREASE OR DECREASE THE LIMIT (IF ANY) OF THE FACILITY PROVIDED WITHOUT NOTICE TO THE APPLICANT OR THE GUARANTOR (IF ANY).


7. ALL RISKS IN ANY GOODS ORDERED BY THE APPLICANT SHALL BE DEEMED TO PASS TO THE APPLICANT FROM THE TIME THE GOODS ARE LOADED OR DELIVERED BY BEBBLE TO A COURIER OR COURIER CONSIGNED TO THE APPLICANT BUT OTHERWISE:-
 
a)
THE APPLICANT HEREBY ACKNOWLEDGES THAT THE GOODS SUPPLIED BY BEBBLE SHALL REMAIN THE PROPERTY OF BEBBLE UNTIL BEBBLE RECEIVES PAYMENT FOR THE SAME.

b)
BEBBLE HEREBY AGREES TO ALLOW THE APPLICANT TO DEAL OR TRADE WITH THE GOODS IN THE NORMAL COURSE OF BUSINESS AND FOR THE APPLICANT TO RETAIN THE SALE PROCEEDS OF SUCH SALE OR DEALING PROVIDED THAT THE APPLICANT ADHERES TO THE TERMS AND CONDITIONS OF THE AGREEMENT.


8. ALL ORDERS ARE SUBJECT TO ACCEPTANCE AND APPROVAL BY BEBBLE. ORDERS CANNOT BE CANCELLED ONCE PRODUCTION HAS COMMENCED.


9. THE PRICE SHALL BE INCREASED BY THE AMOUNT OF ANY GST IF APPLICABLE AND OTHER TAXES AND DUTIES WHICH MAY BE
APPLICABLE, EXCEPT TO THE EXTENT THAT SUCH TAXES ARE EXPRESSLY INCLUDED IN ANY QUOTATION GIVEN BY BEBBLE.


10. ANY LEGAL COSTS, STAMP DUTIES OR OTHER EXPENSES WHATSOEVER INCURRED BY BEBBLE IN RESPECT OF THE
APPLICATION, AGREEMENTS, GUARANTEES, SECURITIES OR OTHER DOCUMENTATION REQUIRED BY BEBBLE OR OTHER COSTS REASONABLY INCURRED BY BEBBLE IN CONSEQUENCE OF THIS APPLICATION AND ANY OTHER EXPENSES INCURRED IN RESPECT OF OPENING AND MAINTAINING ANY ACCOUNT IN THE NAME OF THE APPLICANT TOGETHER WITH ANY COLLECTION COSTS, DISHONOURED CHEQUE (S) FEES, LEGAL COSTS, WHETHER CHARGED ON SCALE OR ON ANY OTHER BASIS INCURRES, SHALL BE PAID BY THE APPLICANT ON DEMAND.


11. IF THE APPLICANT:
’

a)
DEFAULTS IN THE DUE AND PUNCTUAL OBSERVANCE OF ALL OR ANY OF HIS OBLIGATIONS UNDER ANY CONTRACT ARISING OUT OF THIS APPLICATION; OR
b)
BEING A PERSON, DIES, COMMITS AN ACT OF BANKRUPTCY: OR
c)
BEING A COMPANY, TAKES OR SHALL HAVE TAKEN AGAINST IT ANY ACTION FOR ITS WINDING UP PLACEMENT UNDER MANAGEMENT, ADMINISTRATION AND/OR RECEIVERSHIP THEN BEBBLE WITHOUT PREJUDICE TO ANY RIGHTS OR REMEDIES OPEN TO IT MAY:

(i)
TREAT AS DISCHARGED ALL OR ANY OBLIGATION ARISING FROM ANY AGREEMENT WITH THE APPLICANT;

(ii)
RETAIN ANY SECURITY GIVEN OR MONIES PAID BY THE APPLICANT OR AVAILABLE THROUGH THE ENFORCEMENT OF ANY GUARANTEE, SECURITY OR BOND AND APPLY THIS IN REDUCTION OF ANY SUM WHICH MAY BE LAWFULLY RECOVERED BY THE APPLICANT;

(iii)
RESERVE THE RIGHT TO ENTER UPON THE APPLICANT'S PREMISES OR ELSEWHERE TO TAKE POSSESSION OF AND REMOVE ANY GOODS FOR WHICH FULL PAYMENT HAS NOT BEEN RECEIVED, THE LEGAL AND EQUITABLE
INTEREST AND TITLE IN THE SAID GOODS SHALL THEREFORE NOT PASS UNTIL FULL PAYMENT HAS BEEN
RECEIVED BY BEBBLE.

(iv)
TAKE SUCH STEPS AS IT MAY DEEM NECESSARY TO MITIGATE THE DAMAGES SUFFERED INCLUDING THE PUTTING TOUSE, HIRING OUT, SALE OR DISPOSAL OF ANY GOODS SUPPLIED OR TO BE SUPPLIED UNDER THE CONTRACT AND ITS POSSESSION.


12. SHOULD THERE BY ANY VARIATION TO ANY OF THE INFORMATION SUPPLIED BY THE APPLICANT TO BEBBLE OR IN THE
STRUCTURE OF THE APPLICANT'S BUSINESS (SUCH AS CONVERSION TO OR FROM A COMPANY OR TRUST) THE COMPANY SHALL FORTH WITH BE NOTIFIED IN WRITING BY THE APPLICANT. UNLESS NOTIFICATION OF SUCH VARIATION OR CHANGE IS GIVEN AND ACCEPTED IN WRITING BY BEBBLE THE ORIGINAL APPLICANT AND THOSE PERSONS WHO SIGNED AS GUARANTORS ON THIS APPLICATION FORM SHALL REMAIN LIABLE TO THE COMPANY AS THOUGH ANY GOODS OR SERVICES SUPPLIED BY BEBBLE WERE SUPPLIED TO THE ORIGINAL APPLICANT.


13. BEBBLE SHALL NOT BE DEEMED TO HAVE WAIVED ANY OF THE TERMS OR CONDITIONS OF THIS APPLICATION OR AGREED TO
ANY VARIATION THEREOF UNLESS IT HAS DONE SO EXPRESSLY IN WRITING AND SIGNED BY BEBBLE.


14. WHERE THERE IS ANY INCONSISTENCY BETWEEN THE TERMS AND CONDITIONS OF THIS APPLICATION AND ANY SUBSEQUENT AGREEMENT FOR THE SUPPLY OF GOODS, WORK OR MATERIALS BY BEBBLE, ANY SUCH SUBSEQUENT AGREEMENT SHALL BE READ DOWN TO THE EXTENT NECESSARY TO GIVE FULL FORCE AND EFFECT TO THE TERMS AND CONDITIONS OF THIS APPLICATION.


15. IN THESE TERMS AND CONDITIONS WORDS IN THE SINGULAR SHALL BE CONSTRUED SO AS TO INCLUDE THE PLURAL.


16. WHERE THE APPLICANT IS A TRUSTEE:

a)
THE APPLICANT AGREES TO PRODUCE A STAMPED COPY OF THE DEED (WITH ALL AMENDMENTS) IF AND WHEN REQUESTEDBY BEBBLE.
b)
THE APPLICANT WARRANTS THAT IT HAS FULL POWER AND AUTHORITY FOR THE BENEFIT PURPOSES AND OBJECTS OF THE TRUST TO MAKE THIS DEED ON BEHALF OF THE TRUST AND THAT IT SHALL BE BOUND BY THE TERMS OF THIS DEED BOTH PERSONALLY AND AS TRUSTEE; AND

c)
THE APPLICANT CONFIRMS THAT THE TRUSTEES SHALL BE LIABLE FOR THE ACCOUNT AND THAT IN ADDITION THE ASSETS OF THE TRUST SHALL BE AVAILABLE TO MEET PAYMENT OF THE ACCOUNT.


17. THE APPLICANT HEREBY AGREES THAT THE FACILITY HEREBY APPLIED FOR DOES NOT EXTEND TO ANY TRANSACTION AND THE
APPLICANT WILL NOT USE THE FACILITY FOR ANY TRANSACTION WHICH IS OR MAY BE A "REGULATED CONTRACT" AS THAT EXPRESSION IS DEFINED IN THE CREDIT ACT.


18. THE APPLICANT AND THE GUARANTOR (IF ANY) DO HEREBY AGREE FOR THE PURPOSES OF SECURING THE LIABILITY AND
OBLIGATIONS HEREUNDER OF EACH OF THEM THEY DO HEREBY CHARGE WITH THE DUE AND PUNCTUAL PAYMENT AND THE DUE AND PUNCTUAL AND COMPLETE PERFORMANCE BY EACH OF THEM OF ALL THEIR LIABILITIES AND OBLIGATIONS HEREUNDER ALL THEIR REAL PROPERTY BOTH PRESENT AND FUTURE AND EACH OF THE APPLICANTS HEREUNDER.
THE CONTINUING GUARANTEE CREATED HEREIN SHALL REMAIN IN FULL FORCE AND EFFECT AND SHALL NOT BE DISCHARGED UNTIL THE EXPIRY OF NOT LESS THAN SEVEN (7) MONTHS FROM THE DATE OF RECEIPT OF THE LAST PAYMENT BY BEBBLE FROM THE APPLICANT IN SATISFACTION OF ANY MONIES DUE BY THE APPLICANT MADE BY OR ON BEHALF ON THE APPLICANT.


19. THE APPLICANT AND THE GUARANTOR (IF ANY) AGREE THAT THE CERTIFICATE OF THE COMPANY OR ANY PERSON AUTHORISED
BY THE COMPANY TO GIVE THE SAME SHALL BE CONCLUSIVE EVIDENCE AS TO THE AMOUNT OWING TO BEBBLE BY THEAPPLICANT AND GUARANTOR.


20. THE COMPANY RESERVES THE RIGHT TO USE THE SERVICES OF A MERCANTILE AGENCY.


21. THE APPLICANT AND THE GUARANTOR AGREE THAT THE LAW OF VICTORIA SHALL APPLY TO THIS APPLICATION AND
ITS/THEIR DEALINGS WITH BEBBLE AND THE APPLICANT, GUARANTOR AND BEBBLE CONSENT TO THE JURISDICTION OF THE RELEVANT COURT IN THE SAID STATE.


IN THE EVENT THAT THIS APPLICATION FOR CREDIT IS APPROVED I HEREBY AGREE WITH THE SUPPLIER TO ABIDE BY THE PRECEDING TERMS AND CONDITIONS NUMBERS ONE TO TWENTY ONE.