Trading Terms & Conditions

E C Legal provides a service in conjunction with eCollect which involves:

• Reviewing our client’s needs i.e. the nature of the client’s business and the relationships with their customers;

• providing a tailor made solution to enable our client to control the entire relationship with the client’s customer including a suite of documents for use within our client’s business.

The documents that we may provide include:

Credit Account Application

Sets out the information needed to open a credit account with our client and provides the basis of the trading agreement between our client and their customer.

Letter Advising of Change of Trading Terms

To be used by our client to advise its existing debtors of a change to the trading terms.

Credit Acceptance Procedures

Sets out a policy for our client’s staff members to follow when considering whether or not to grant credit to a prospective customer.

Trading Terms and Conditions

Designed to be used in conjunction with the Credit Account Application. It has a comprehensive the set of trading terms designed to protect our client’s interests.

Quotation

Sets out a format for our client to provide a quotation to its customer.

Variation of Quotation

Sets out a format for our client to provide a variation of quotation to its customer once a job has commenced.

Personal Guarantee

Provides for a personal guarantee to secure the performance of the trading agreement by the customer.

General Security Agreement

Provides a general form of company or personal charge able to be registered on the Personal Property Securities Register.

The process for the full service involves:

1. Review of the client’s needs by eCollect staff member i.e. the nature of the client’s business and the relationships with their customers. Completion of Client Instructions and submission to E C Legal;

2. Provision by client of letterhead and logos direct to E C Legal by email;

3. Preparation of draft documents and provision to client for comment and discussion;

4. Discussions with E C Legal lawyer on draft documents and any necessary revisions of draft documents by E C Legal following discussions. This may take a couple of sessions (usually of about 15 – 30 minutes by phone) to have the documents tailored to the client’s requirements;

5. Provision of final form of documents including formatting for immediate use.

Where clients do not require the full service, a terms only service is available which involves providing the Account Application and Trading Terms and Conditions only without formatting to include the client logos etc.

Some important points to note:

• There is always a trade off between having a clear and unambiguous trading arrangement with terms in our client’s favour and the commercial reality of attracting and retaining customers. If our client’s business is too hard to deal with, our client’s customers may choose to deal with someone else. The documents provided will be written by a practicing commercial lawyer and are designed to operate in our client’s favour. Every time that text is removed, our clients may lose some sort of benefit;

• eCollect staff members are not qualified to provide advice on the standard trading terms;

• The standard documents are copyright to eCollect and are provided for your use only. You cannot allow any other businesses to use them;

• E C Legal warrants that if the trading terms and other documents prepared by E C Legal are used in accordance with the directions provided, a legally binding agreement will result between you and your debtor. In the event that there is a finding by a competent court or tribunal that you have no binding agreement with your debtor then E C Legal may be liable for any losses suffered as a result.

Please complete the attached Client Instructions to commence.