Payment Conditions

1.1  Standard Settlement
Payment must be made in cash or cleared funds before any goods leave our premises, unless we have previously granted you a credit facility.

1.2  Credit‑Account Settlement
For authorised credit‑account holders, all invoices fall due no later than 30 days after the month in which delivery occurs, unless we agree an alternative schedule in writing.

1.3  Consequences of Late Payment
If an invoice is not settled in full by the due date, we reserve the right to:

• 1.3.1  Place all further deliveries on hold or cancel them entirely.
• 1.3.2  Withdraw any price concessions or discounts previously offered.
• 1.3.3  Apply interest on the overdue sum at the higher of:
  
  • 3 percentage points above the prevailing Bank of England base rate, or
  • the statutory rate specified under section 6 of the Late Payment of Commercial Debts (Interest) Act 1998.
  • Interest accrues daily from the invoice date, is compounded on the first calendar day of each month, and continues both before and after any court judgment unless directed otherwise.
• 1.3.4  Claim the fixed‑sum compensation available under section 5A of the same Act to cover our credit‑control costs.
• 1.3.5  Recover from you, on an indemnity basis, all expenses—including legal fees—incurred in enforcing payment.

1.4  Credit Facility Review
We may, at any time and without notice, suspend or withdraw your credit facility, reduce the credit limit, or require immediate payment of all outstanding sums.

1.5  No Right of Set‑Off
You may not offset or withhold any amount you allege we owe you against sums payable to us.

1.6  Lien
While any balance remains outstanding, we retain a general lien over any of your property that is in our possession.

1.7  Indemnity
You agree to indemnify and hold us harmless against all losses, costs, charges, and liabilities (including full legal costs and financing expenses) arising directly or indirectly from your breach of these payment conditions.