COMMERCIAL CREDIT ACCOUNT APPLICATION

COMMERCIAL CREDIT ACCOUNT APPLICATION *Mandatory field required to process application Please complete the below form in BLOCK LETTERS ONLY ensuring all information is entered with as much detail as possible. *FULL NAME OF COMPANY: *ADDRESS: *POSTCODE: *ABN/ACN NO.: TRADING BUSINESS NAME: *REGISTERED OFFICE ADDRESS: *POSTCODE: *EMAIL ADDRESS: (for invoices) ORGANISATION TYPE: SOLE TRADER PARTNERSHIP COMPANY FULL NAME OF DIRECTORS/PROPRIETORS HAVE ANY OF THE ABOVE EVER BEEN REGISTERED UNDER ANY PART OF THE BANKRUPTCY ACT? NATURE OF BUSINESS: DATE OF COMMENCEMENT: *TELEPHONE NO: FAX NO: 1. NAME 2. NAME 3. NAME 4. NAME YES NO If yes, please complete the below CONTACTS *ACCOUNTS: *PURCHASING: *CREDIT REQUESTED: 1

*ANTICIPATED MONTHLY PURCHASES: OFFICE USE ONLY ACCOUNT NUMBER: AUTHORISED BY: ACCOUNT OPENED: PRICE CATEGORY: CUSTOMER CATEGORY (MARKET SEGMENT): DATE: CREDIT LIMIT: DISCOUNT CATEGORY: SALES PERSON CODE: TRADE REFERENCES * 1. COMPANY: *EMAIL: * 2. COMPANY: *EMAIL: * 3. COMPANY: *EMAIL: * 4. COMPANY: *EMAIL: BANK ACCOUNT DETAILS NAME OF BANK: BRANCH: BRANCH NO.: ACCOUNT NO.: 2

I/We wish to apply for a credit account with LRI in accordance with the Terms and Conditions of Credit prescribed below and agree to be bound by the Terms and Conditions of Credit. I/We understand that LRI may seek personal information in accordance with the Terms and Conditions of Credit prescribed below and I/We hereby authorise LRI to release details of my/our trading history upon request to a third party. I/We certify that the above information is true and correct. FOR SOLE TRADERS OR PARTNERS OR DIRECTOR OF A COMPANY 1. SIGNATURE POSITION: DATE: 2. SIGNATURE POSITION: DATE: 3. SIGNATURE POSITION: DATE: 4. SIGNATURE POSITION: DATE: FOR SOLE TRADERS OR PARTNERS OR DIRECTOR OF A COMPANY SIGNED FOR AND ON BEHALF OF: BY: TITLE DATE: TERMS AND CONDITIONS OF CREDIT 1. Definitions and Interpretation Agreement means any contract or arrangement, including these Conditions, a Supplier Ts&Cs, a Purchase Order or Quotation and/or terms and conditions of credit, for the supply of Goods and/or Services and/or credit between the Supplier and the Customer. Approved Credit Account means an account that the Customer has with the Supplier for the provisions of Good and/or Services from the Supplier to the Customer on credit terms pursuant to the Supplier agreeing to offer credit to the Customer under these Conditions. Conditions mean these Terms and Conditions of Credit. Customer means the party making an application for an Approved Credit Account and includes any guarantor of the Customer. Goods mean any Goods supplied by the Supplier listed or described in any manner on any purchase order or quotation provided by LRI. GST has the meaning given by the A New Tax System (Goods and Services Tax) Act 1999 (cth). Insolvency Event means, for the Customer, as applicable, being in liquidation or provisional liquidation, bankruptcy or under administration, having a controller (as defined in the Corporations Act 2001) or analogous person appointed to the Customer or any of the Customer s property, being taken under section 459F(1) of the Corporations Act to have failed to comply with a statutory demand, being unable to pay the Customer s debts, dying, ceasing to be of full legal capacity or otherwise becoming incapable of managing the Customer s own affairs for any reason, taking any step that could result in the Company becoming an insolvent under administration (as defined in section 9 of the Corporations Act 2001), entering into a compromise or arrangement with, or assignment for the benefit of, any of the Customer s members or creditors, or any analogous event. 3

New LRI Entity means an entity that becomes a Related Body Corporate to LRI after an application to purchase is made by the Customer. Related Bodies Corporate has the same meaning as in the Corporations Act 2001. Services mean any services provided by the Supplier being the supply of any Goods and all related or ancillary Services offered by the Supplier. Supplier means in connection with the supply of any Goods or Services, LRI. Supplier Ts&Cs means any terms and conditions of quotation and supply, however described, notified by the Supplier to the Customer (whether on an invoice, purchase order, quote, through the Supplier s website, docket or otherwise), or supply agreement (however described) in the Supplier s standard form entered into in writing between the Supplier and Customer. LRI means Life & Rescue International Pty Ltd or Related Body Corporate of Life & Rescue International Pty Ltd ABN 41 115 251 593. Singular words include the plural and vice versa. A mention of anything after include, includes or including, does not limit what else might be included. 2. Scope of this document 2.1 These Conditions are intended to regulate key terms for determining and offering an extension of credit (an Approved Credit Account) in connection with the supply of Goods or Services by LRI to the Customer. 2.2 The terms set out in these Conditions are to be read in conjunction with and are incorporated into the Supplier s Terms and Conditions of Purchase and form an Agreement directly between the Customer and the LRI. These conditions are legally binding between the Supplier and the Customer. To the extent of any inconsistency, the Supplier s Terms and Conditions of Purchase prevail over these Conditions. 3. Credit Accounts 3.1 The Customer has no entitlement to an Approved Credit Account unless in the Supplier s sole discretion the Supplier extends credit to the Customer. 3.2 If in a particular case, the Supplier provides the Customer an Approved Credit Account, the Supplier still reserves the right at any time and for any reason in the Supplier s sole discretion to refuse to supply any further Goods and/or Services to the Customer and to refuse to supply any Goods or Services or both to the Customer on credit terms. 3.3 The Supplier may in its discretion decline to provide the Customer further credit under an Approved Credit Account. In circumstances where further credit is declined, that decision shall not affect the credit terms which apply to any amounts the Customer already owes to the Supplier for the provision of previous goods and/or services. 3.4 If the Customer fails to comply with any of the terms of these Conditions or the Supplier s Terms and Conditions of Purchase or in respect of any obligation to pay money to LRI when due, suffers an Insolvency Event or makes any misrepresentation to LRI, the balance of the Customer s liability for Goods and/or Services provided by the Supplier will become due and payable immediately. 4. Overdue accounts 4.1 Where a Customer has an Approved Credit Account with the Supplier for the supply of Goods and/or Services on credit, any amount not paid to the Supplier by the due date specified by the 4

Supplier s Terms and Conditions of Purchase will incur interest at a rate of 5% above the Reserve Bank of Australia Cash Rate calculated daily and compounded monthly. 5. Privacy disclosure and consent 5.1 The Customer authorises the Supplier to: 5.1.1. Obtain credit information about its personal, consumer and commercial credit worthiness from any bank or trade referee and from any other credit provider or credit reporting agency for the purpose of assessing an application for credit, or 5.1.2. In connection with any guarantee given by the Customer use, disclose or exchange with other credit providers or LRI entities information about the Customer s credit arrangements in order to assess an application for credit, monitor credit worthiness and collect overdue accounts, and 5.1.3. Disclose the contents of any credit report on the Customer to other Related Bodies Corporate of a LRI, and any of their solicitors and mercantile agents. 5.2 If the Customer does not provide the information requested in these Conditions, LRI may be unable to process an application for credit and/or may decline any application for credit. 6. GST If the Supplier has any liability to pay Goods and Services Tax (GST) on the supply of any Goods or Services to the Customer, the Customer must pay to the Supplier an amount equivalent to the GST liability of the Supplier at the same time as the consideration is paid for the Goods or Services (unless the consideration for that supply is expressed specifically to be GST inclusive). 7. New LRI Entities 7.1 It is intended that all New LRI Entities will have the benefit of these Conditions. 7.2 Any New LRI Entity will have the benefit of and may enforce these Conditions irrespective of the fact that the New LRI Entity may not have been in existence or a Related Body Corporate of Life & Rescue International Pty Ltd at the time of initial acceptance by the Customer of these Conditions. 8. Notices Any notice given to Customer or Supplier must be in writing. Any notice not in writing is unenforceable as against either party. A notice must be sent by post, email or facsimile. Proof of successful transmission will be proof of notice receipt. A notice received after 5:30pm on a business day is deemed to have been received the following business day, provided that day is not a public holiday in the State to which the notice is being sent. 9. No Waiver 9.1 The failure of the Supplier to exercise, or the delay in exercising, any right, power or privilege available to it under these terms and conditions will not operate as a waiver thereof or preclude any other or further exercise thereof or the exercise of any other right or power. Any waiver of any of the Supplier's rights pursuant to these conditions must be in writing. 10. Miscellaneous 10.1 If any clause, or any part of a clause in these conditions is deemed by an Australian Court to be 5

illegal, unenforceable or invalid, that clause or part of the clause will be removed, and all other clauses will remain the same. 10.2 If there is more than one Customer, those Customers will be jointly and severally liable. 10.3 The Customer must not assign any agreement or liability for Goods and/or Services with the Supplier unless it has given the Supplier at least 7 days advance written notice and the Supplier has given its written consent. 11. Directors Guarantee 11.1 The Supplier may, at its discretion, require a Customer and its Directors to enter into and execute all required documents in order to provide the Supplier with a Directors Guarantee in relation to any money owing for the supply of Goods and/or Services under these Conditions. DIRECTORS GUARANTEE Acknowledgement & Guarantee In consideration of LRI having agreed to provide an Approved Credit Account for the provision of Goods and Services in accordance with the Terms and Conditions of Credit prescribed above, we the undersigned Directors ( the Guarantors ), hereby guarantee the payment of all sums of money, interest, costs and damages which the Customer may now have or hereafter be liable to pay to LRI for the provisions of Goods and/or Services in accordance with the Terms and Conditions of Credit. The Guarantors agree that upon default by the Customer to pay any money, interest, costs and/or damages to LRI for the provision of Goods and/or Services in accordance with the Terms and Conditions of Credit and/or Terms and Conditions of Purchase when due, that they will personally pay the amounts owed to LRI upon demand. The Guarantors further agree to indemnify LRI against all loss and costs suffered as the result of each and every default by the Customer and/or any default by The Guarantors under this Guarantee. This Guarantee is continuing, irrevocable and joint and several and is a principal obligation. The Guarantors have obtained independent legal advice on their obligations under this Guarantee. Consideration The Guarantors agree they have entered into this Agreement for valuable consideration. Extent of Guarantee and Indemnity This Guarantee applies and the obligations of the Guarantors remain unaffected despite: (i.) an amendment of the Terms and Conditions of Credit with the Supplier; (ii.) a rule of law or equity to the contrary; (iii.) a person becoming insolvent or otherwise unable to pay their debts when they fall due; (iv.) the appointment of a receiver, receiver and manager, administrator or liquidator to a person or a person s assets; (v.) the liquidation or winding up of a person; (vi.) a change in the constitution, membership, or partnership of a person; (vii.) the partial performance of the Customers obligations under the Terms and Conditions of Credit; (viii.) the Supplier granting any time or other indulgence or concession to, compounding or compromising with, or wholly or partially releasing the Guarantors from an obligation; or (ix.) another thing happening that might otherwise release, discharge or affect the obligations of the Guarantors under this Agreement. 6

Principal and Independent Obligation This clause is: (i.) a principal obligation and is not to be treated as ancillary or collateral to another right or obligation; and (ii.) independent of and not in substitution for or affected by another Security Interest or guarantee or other document or deed which the Customer or another person may hold concerning the obligations of the Customer or any related matter. Enforcement against Guarantor The Supplier may enforce this Agreement against the Guarantors without first having to resort to another guarantee or Security Interest or other Agreement relating to the obligations of the Customers under the Terms and Conditions of Credit. The Guarantors waive any right they have of first requiring the Buyer to enforce any other right, power, remedy or security against the Supplier or any other person before claiming from the Guarantors under the guarantee and indemnity. Customer: SIGNED SEALED AND DELIVERED BY: Director Witness As Guarantor in the presence of: Name of Witness SIGNED SEALED AND DELIVERED BY: Director Witness As Guarantor in the presence of: Name of Witness 7