Credit Account Terms & Conditions

CREDIT ACCOUNT TERMS & CONDITIONS

EFFECTIVE FROM 1ST NOVEMBER 2025

The Customer acknowledges receipt of and agrees to be bound by the Company’s current Terms and Conditions for the Supply of Goods and Services (the “Terms”), a copy of which has been provided and forms an integral part of these credit terms. In the event of any conflict between these credit terms and the general Terms and Conditions, these credit terms shall prevail regarding payment and credit matters.
The Customer agrees that if the Company accepts its application for credit terms, the Terms will thereby be varied so as to allow the Customer to defer payment of each invoice to the end of the month, following the month in which the invoice is dated. The Customer confirms that if credit facilities are approved it will pay the account as per those payment terms and it agrees that if it does not pay the account as per those payment terms, the Company may, subject to giving reasonable notice (minimum 7 days except in cases of material breach or insolvency), withdraw the credit facility and that all sums then outstanding will become due immediately.
Any amount owing beyond the agreed payment terms shall accrue interest at 1%, chargeable on the sum outstanding on the last day of that month.
In processing any application for, and monitoring any agreed, credit facilities, the Company may from time to time make enquiries with credit reference agencies and other third parties who may record those enquiries. The Company may also disclose information about the conduct of the Customer’s account to credit reference agencies and other third parties. The information obtained from or provided to credit reference agencies or other third parties may be used when assessing further applications for credit terms, for debt collection, for tracing and for fraud prevention.
The Customer hereby consents to a credit search being made on the Customer and to a credit search being made on any and all owners/partners or directors of the Customer, both now and at any future date. All personal information that the Company uses for that purpose will be collected, processed, and held in accordance with the provisions of Data Protection Legislation and his/her rights under the Data Protection Legislation. The lawful basis for processing personal data is legitimate interests (credit assessment and debt recovery). The Company will retain credit application data for 7 years from account closure or application rejection in accordance with financial services regulatory requirements.
For complete details of the Company’s collection, processing, storage, and retention of personal data including, but not limited to, the purpose(s) for which personal data is used, the legal basis or bases for using it, details of his/her rights and how to exercise them, and personal data sharing (where applicable), please refer to the Company’s Privacy Notice, available upon request.
“Data Protection Legislation” means all applicable legislation in force from time to time in the United Kingdom applicable to data protection and privacy including, but not limited to, the UK GDPR (the retained EU law version of the General Data Protection Regulation ((EU) 2016/679), as it forms part of the law of England and Wales, Scotland, and Northern Ireland by virtue of section 3 of the European Union (Withdrawal) Act 2018); the Data Protection Act 2018 (and regulations made thereunder); and the Privacy and Electronic Communications Regulations 2003 as amended.
Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the Setld Ltd (16327454) Arbitration Rules.
The appointing authority shall be Setld Ltd. The place of arbitration shall be London, England. The language to be used in the arbitral proceedings shall be English.

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