1. Definition of specific words
Customer refers to the individual purchasing or authorising the purchase of goods on the Arrow Flexible Couplings website.
Goods denote the products supplied by the seller as ordered on the website.
Seller means Arrow Flexible Couplings
Website refers to the Arrow Flexible Couplings website
2. Basis of the sale
There are several ways the goods may be purchased, for example directly via the website, over the phone or via an email. The price of the goods can be set either according to the price displayed on the website or by reaching an agreement with Arrow Flexible Couplings staff.
3. Terms of Payment
The customer will be invoiced once the order process is complete, whether the order occurs through the website or other means.
The customer will pay the agreed price 30 (calendar month) days after the date on the invoice.
Where there are bank charges, the customer will pay for them in full and not deduct them from any amount owed to the seller.
If the customer fails to pay within the agreed time the seller is authorised to:
3.a.) Cancel the Credit Account contract (reducing the account to a standard account) and/or suspend any other services for the customer.
3.b.) Charge Interest as well as recovery costs. The seller has the statutory right to charge interest according to late payment legislation. This is currently (on 18th February 2020) 8% plus Bank of England base rate (0.75 since 2nd August 2018), which is a total of 8.75%. If interest is added the customer will be sent an additional invoice with money owed. Furthermore, the customer can be charged due to the cost of recovering the late payment. Up to £40, £70 or £100 may be charged according to the amount of debt owed. For more information, please visit: https://www.gov.uk/late-commercial-payments-interest-debt-recovery/claim-debt-recovery-costs
4. Credit account terms
The seller sets limits to the amount of credit allowed to the buyer. If the seller wishes, they can change the status of the buyer’s credit account to a standard account, whereby no credit will be granted.
This applies in the event of the customer (either as an individual or a company) becoming bankrupt or subject of an administration order or liquidation. In this scenario the seller is permitted to return the customer to a standard account and cancel credit account status. Furthermore the seller can suspend any other deliveries or services without liability to the customer.