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Terms of Trade Update

Our customer monthly terms of trade have recently been updated effective from 1 September 2017.


We review our terms of trade from time to time. This update coincides with the introduction of the new Contract & Commercial Law Act 2017 (CCLA) from 1 September 2017, which replaces various laws including the Sale of Goods Act and the Contracts (Privity) Act. 

The main changes are in the following clauses:

  • 1.1. Advice and agency products have been included in the definition of Products.
  • 2.1. This provides that PGW will send invoices, statements and other documents by email unless the customer requests otherwise.
  • 3.3. This records that online purchases from our websites will be covered by our terms of trade.
  • 4.1. This clarifies that any applicable freight is in addition to the product price.
  • 4.1. This records that PGW may pass on payment processing costs, and that small credit balances can be written off for administration efficiency
  • 4.1. This provides that prompt payment and other discounts can be reversed if payments are overdue.
  • 5 & 7. As some products we sell are as agent for a vendor eg livestock, vendors have been specifically mentioned in clauses 5 and 7, to record the obligations where PGW is not the vendor of the products and so that vendors can benefit from these remedies where a purchaser defaults in their obligations.
  • 6.1. A General Security Agreement (GSA) has been included as another form of security for payment when Products are taken on credit. While we reserve the right to do so, we are unlikely to register GSAs retrospectively for existing customers, mainly only for new accounts.
  • 7.3, 10, 13.1, 13.6 and 14.3. These clauses have been updated in response to the new CCLA.
  • 8.1. This clause outlines the credit assessment checking that we may do.
  • 9.2. This clause outlines when Products can be returned and the methods of repayment for returned Products.
  • 13. We have clarified the rules that apply when we sell products for vendors.

 

If you have any questions about the changes to our terms of trade, please freephone 0800 10 22 76 or email enquiries@pggwrightson.co.nz.

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