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. Relationship with B2B Terms and Conditions of Sale
These Credit Account Terms apply in addition to the Supplier’s Business (B2B) Terms and Conditions of Sale. If there is any inconsistency, these Credit Account Terms prevail in relation to payment terms, credit limits, account administration, late payment, suspension, retention of title and recovery of sums due. The Business Terms and Conditions of Sale prevail in relation to quotations, acceptance of orders, delivery, shortages, damage, returns, product claims and limitation of liability except where expressly varied by these Credit Account Terms.
3. CREDIT FACILITY
3.1 Granted at Supplier's sole discretion; may be withdrawn or varied at any time without notice.
3.2 Customer must notify Supplier immediately of changes in ownership, directors, address, or material financial status.
4. PAYMENT TERMS
4.1 Unless otherwise agreed in writing, all invoices are due for payment in full by the last working day of the month following the month in which the invoice is dated (30 days from end of month (EOM)). Time for payment is of the essence.
4.2 Payment in full in GBP via bank transfer. No withholding for set-off or counterclaim.
5. LATE PAYMENT & INTEREST
5.1 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.
5.2 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.
5.3 Supplier may suspend all deliveries and services if any payment is overdue.
6. RETENTION OF TITLE
6.1 Ownership remains with Supplier until all sums due on any account are paid ('All Sums Clause').
6.2 Until title passes, Customer holds Goods as bailee/fiduciary, must store separately, identify them as Supplier's property, and insure for full value.
6.3 If payment is overdue, the Supplier may, so far as lawfully permitted, enter any premises where the Goods are stored for the purpose of inspecting or recovering Goods to which title has not passed.
7. TERMINATION & INSOLVENCY
7.1 Immediate termination if Customer fails to pay, breaches terms, or enters insolvency proceedings (administration, liquidation,
receivership, or similar).
7.2 All outstanding amounts become immediately due and payable upon termination.
8. LIMITATION OF LIABILITY
8.1 Liability not limited for death, personal injury, or fraud.
8.2 Otherwise limited to invoice value of Goods/Services. No liability for loss of profit, revenue, business opportunity, or consequential loss.
9. DATA PROTECTION
9.1 Processed per UK GDPR and Data Protection Act 2018. Customer consents to credit checks and performance data sharing with credit reference agencies.
10. ENTIRE AGREEMENT
10.1 These Credit Account Terms apply in addition to the Supplier’s Business (B2B) Terms and Conditions of Sale. If there is any inconsistency, these Credit Account Terms prevail in relation to payment terms, credit limits, account administration, late payment, suspension, retention of title and recovery of sums due. The Business Terms and Conditions of Sale prevail in relation to quotations, acceptance of orders, delivery, shortages, damage, returns, product claims and limitation of liability except where expressly varied by these Credit Account Terms.
10.2 No variation to any specifically agreed credit limit, payment arrangement or account-specific term is effective unless agreed in writing by the supplier. The supplier may update its standard trading terms for future orders, and the version issued with the relevant Order Confirmation or otherwise notified to the Credit Customer will govern those future orders.
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)
12. GOVERNING LAW & JURISDICTION
12.1 Governed by the laws of England and Wales. Parties submit to the exclusive jurisdiction of the English courts.
