6.1The Customer has no entitlement to credit unless, in Puretec’s sole discretion, Puretec extends credit to the Customer, only up to the Credit Limit approved in writing by Puretec.
6.2The Customer may apply to Puretec in writing to increase or reduce the Credit Limit at any time. Puretec may agree or refuse to increase the Credit Limit in its absolute discretion.
6.3The Customer agrees and acknowledges that:
- 6.3.1the Customer must apply for credit from Puretec, and discuss the Customer’s credit history with Puretec if Puretec reasonably requests.
- 6.3.2Puretec may impose conditions on the provision of credit or in the circumstances of increase to the Credit Limit in its absolute discretion, for example including the requirement for a bank guarantee or Guarantee and Indemnity;
- 6.3.3the Customer is required to ensure at all times that the aggregate amount of all outstanding invoices issued by Puretec to the Customer does not exceed the Credit Limit.
6.4In submitting a request for credit to Puretec, the Customer represents and warrants that:
- 6.4.1all the information provided to Puretec is accurate, correct and complete; and
- 6.4.2the Customer is not the subject of an Insolvency Event.
6.5At any time and for any reason in Puretec’s sole discretion, Puretec reserves the right to refuse to supply any Goods to the Customer on credit. Such refusal does not affect the Customer’s liability for unpaid Goods.
6.6If the Customer fails to comply with these Terms or fails to pay any amount to Puretec when due, or the Customer is subject to an Insolvency Event, the balance of the Customer’s account will become due and payable immediately.