CREDIT TERMS

THE BEEF SHOP WHOLESALE CREDIT TERMS (DEPOSIT AND INSTALMENTS) These terms apply when an approved distributor or reseller ("the Distributor") takes products from The Beef Shop ("the Seller") after paying a deposit, and pays the balance later in instalments. They are in addition to the Seller's general terms of sale. By accepting them, the person accepting confirms that they are authorised to bind the Distributor. 1. DEPOSIT AND RELEASE OF PRODUCTS 1.1 The Distributor pays a deposit of 50% of the order total before any products are released. 1.2 The Seller releases the products only once the deposit has been received in full and cleared. 1.3 The balance is payable in the instalments and on the due dates shown on the order. The first due date is counted from the day the products are released. 2. OWNERSHIP OF THE PRODUCTS 2.1 Ownership of the products stays with the Seller until the full order price has been paid, even though the Distributor has possession of them and may sell them in the ordinary course of its business. 2.2 Money the Distributor receives from selling products that are not yet paid for is held for the Seller up to the amount still owing. 3. PAYMENT 3.1 Instalments must be paid on or before each due date, by the payment methods the Seller accepts, quoting the order number. 3.2 A payment is first applied to the oldest amount owing. 3.3 The Distributor may pay the balance early at any time, without penalty. 4. LATE PAYMENT AND DEFAULT 4.1 The Distributor is in default if any instalment is unpaid 7 days after its due date, if it gives the Seller false information, or if it is placed in liquidation, judicial management or sequestration, or stops trading. 4.2 On default, the whole unpaid balance of every order on credit becomes due and payable immediately, and the Seller may stop further deliveries and credit. 4.3 The Seller will first send a written demand (by WhatsApp, SMS, email or letter to the details the Distributor gave) allowing 7 days to pay. 5. SECURITY: ATTACHMENT OF PROPERTY AND EQUIPMENT 5.1 As security for everything it owes the Seller, the Distributor agrees that if it fails to pay after the demand in clause 4.3, the Seller may recover the amount owing from the Distributor's property, including its stock, equipment (such as fridges, freezers, display units, mincers, vehicles and other business assets) and other movable property. 5.2 The Distributor consents to the Seller applying to a competent court for judgment for the amount owing, and to the attachment and sale in execution of the Distributor's property and equipment by the Sheriff or Messenger of Court under that judgment, to settle the debt and the costs of recovering it. 5.3 The Seller may also take back any of its products that have not been paid for and are still in the Distributor's possession (clause 2), with the Distributor's co-operation or under a court order. 5.4 The Seller will not enter the Distributor's premises or remove property without the Distributor's consent at the time or a court order. 6. COSTS OF RECOVERY 6.1 The Distributor pays the Seller's reasonable costs of recovering overdue amounts, including legal costs on the scale between attorney and own client, collection commission and tracing fees, to the extent the law allows. 7. PERSONAL GUARANTEE (COMPANIES AND PARTNERSHIPS) 7.1 Where the Distributor is a company or partnership, the Seller may ask a director, member or partner to sign a personal guarantee (suretyship) for the Distributor's debts before credit is given. 8. INFORMATION AND CHANGES 8.1 The Distributor confirms that the details in its distributor application are true, and will tell the Seller in writing of any change of address, ownership or trading name. 8.2 The Distributor acknowledges that the amount shown as owing in the Seller's records is proof of the debt unless the Distributor shows otherwise. 9. GENERAL 9.1 These terms are governed by the laws of Zimbabwe. The Distributor consents to the jurisdiction of the Magistrates Court for any claim, even if the amount would otherwise be beyond that court's jurisdiction. 9.2 The Distributor chooses the physical address in its application as the address where legal notices and court documents may be served. 9.3 No change to these terms is valid unless the Seller confirms it in writing. 9.4 If any part of these terms is found to be unenforceable, the rest remains in force.