Terms and Conditions

  1. The risk in goods described in this Invoice (“Goods”) passes to you at the time those Goods leave our premises to be delivered to you.
  2. Title to Goods shall remain in us until:
    (a)   we receive all sums payable by you to us for any and all goods we have
           supplied to you at any time; or
    (b)   you sell or dispose of the Goods to your customers in the ordinary course of
           before you have paid us for the Goods you must still pay us for the Goods.
  3. During the period in which title to Goods remain in us:
    (a)   you will have no ownership, property or rights in the Goods and hold
           possession of the Goods as a mere bailee for us;
    (b)   you must store the Goods separately so that they are clearly identifiable and
           shall label the Goods in a way which clearly manifests our title;
    (c)   you must keep the Goods insured for the full price of those Goods payable
           by you to us against the usual risks from the time risk in the Goods passes
           to you pursuant to clause 1 and obtain an endorsement of our interest in the
           Goods on each insurance policy; and
    (d)   you must on request, allow us to inspect the goods and provide us with a
           copy of any insurance policy described in clause 3(c).
  4. In addition and without prejudice to any other right or remedy available to us, if you fail to pay the full purchase price for Goods by the due date, or you become, or in our opinion are likely to become, Insolvent and the Goods are in your possession or control, we or our employees, agents or authorised representatives may recover possession of the Goods wherever they may be and you shall assist us in relation to such recovery. We shall have the right to sell or dispose of the Goods recovered and we shall not be responsible for any loss occasioned thereby.
  5. The assistance you are required to provide to us pursuant to clause 4 includes ensuring that the owners or tenants of all premises where the Goods are stored consent to us entering those premises for the purpose of us recovering possession of the Goods.
  6. Until title to the Goods passes to you, you are authorised to sell the Goods but only as agent and fiduciary for us, and the entire proceeds of sale or any other proceeds arising from the Goods or an insurance claim regarding the Goods must be held in a separate bank account in trust for us.
  7. In these terms contained herein:
    (a)   Pearce Pharmaceuticals Pty Ltd (ACN 006 709 164) and its related entities
           are referred to as “we”, “our” and “us”;
    (b)   the customer on this Invoice is referred to as “you” and “your”;
    (c)   “Insolvent” includes entering into liquidation, bankruptcy, or any form of
           composition with its creditors, or having a receiver, receiver or manager or
           mortgagee in possession appointed to you and/or your business.