Credit Terms

CREDIT ACCOUNT TERMS AND CONDITIONS

CHASE INSULATIONS LTD (Trading as: Buy Insulation Online)

Company Registration Number: 09735149
VAT Number: 238160907
Registered Office:  Unit A 82, James Carter Road, Mildenhall, Bury St Edmunds, Suffolk, IP28 7DE, United Kingdom

1. DEFINITIONS & APPLICATION

1.1 In these Terms: 'Supplier' means Chase Insulations Ltd (trading as Buy Insulation Online); 'Customer' means the entity named in the credit approval letter; 'Goods' means any goods supplied; 
    'Services' means any services provided.

1.2 These Terms apply to all credit accounts and orders, prevailing over and excluding any Customer terms or purchase orders.

2. CREDIT FACILITY

2.1 Granted at Supplier's sole discretion; may be withdrawn or varied at any time without notice.

2.2 Customer must notify Supplier immediately of changes in ownership, directors, address, or material financial status.

3. PAYMENT TERMS

3.1 Due within 30 days from end of month (EOM) in which the invoice is dated, unless agreed otherwise in writing. Time for payment is of the essence.

3.2 Payment in full in GBP via bank transfer. No withholding for set-off or counterclaim.

4. LATE PAYMENT & INTEREST

4.1 Interest at 8% above Bank of England base rate plus statutory recovery costs (£40/£70/£100) per the Late Payment of Commercial Debts (Interest) Act 1998.

4.2 The Supplier may also recover all reasonable costs incurred in recovering overdue amounts, including legal fees, debt collection agency fees, court costs, and enforcement costs.

4.3 Supplier may suspend all deliveries and services if any payment is overdue.

5. RETENTION OF TITLE

5.1 Ownership remains with Supplier until all sums due on any account are paid ('All Sums Clause').

5.2 Until title passes, Customer holds Goods as bailee/fiduciary, must store separately, identify them as Supplier's property, and insure for full value.

5.3 Supplier may enter Customer's premises to inspect or repossess. Goods at any time if payment is overdue.

6. TERMINATION & INSOLVENCY

6.1 Immediate termination if Customer fails to pay, breaches terms, or enters insolvency proceedings (administration, liquidation, 
    receivership, or similar).

6.2 All outstanding amounts become immediately due and payable upon termination.

7. LIMITATION OF LIABILITY

7.1 Liability not limited for death, personal injury, or fraud.

7.2 Otherwise limited to invoice value of Goods/Services. No liability for loss of profit, revenue, business opportunity, or consequential 
    loss.

8. DATA PROTECTION

8.1 Processed per UK GDPR and Data Protection Act 2018. Customer consents to credit checks and performance data sharing with credit reference agencies.

9. GOVERNING LAW & JURISDICTION

9.1 Governed by the laws of England and Wales. Parties submit to the exclusive jurisdiction of the English courts.

10. ENTIRE AGREEMENT

10.1 These Terms constitute the entire agreement between the parties and supersede all prior discussions, representations, or arrangements.

10.2 No variation is effective unless agreed in writing and signed by both parties.

10.3 Each party acknowledges it has not relied on any statement or representation not expressly set out in these Terms.

11. NOTICES

11.1 All notices under these Terms must be in writing and sent to the registered address of the recipient.

11.2 Notices are deemed received:
     (a) If delivered by hand: on delivery during business hours
     (b) If posted by first class post: 2 business days after posting
     (c) If sent by email: on transmission (provided no delivery 
         failure notification is received)