CREDIT APPLICATION

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SLICK SALON SOLUTIONS (PTY) LTD

Reg No. 2017/055288/07

APPLICATION FOR CREDIT FACILITIES (INCLUDING DEED OF SURETYSHIP)

Note: Terms of payment are strictly 30 day in Month of purchase.

The Customer, or its duly authorized agent, herby applies for credit facilities with SSS upon the terms and conditions contained in this Application for Credit Facilities, and the Customer (as well as any surety for the customer) hereby irrevocably agrees to be bound by the terms and conditions set out in this Application. The Customer hereby acknowledges and agrees that SSS may at any time by means of searches conducted through one or more registered credit bureau and/or financial institutions, perform a credit search on the Customer’s credit record, and may request information form the customer’s auditor and banker, when assessing the Customer’s application for credit, monitor the Customer’s credit ratings/payment records, use the information and data so obtained in respect of future credit applications by the Customer, record the existence of the Customer’s account with any registered credit bureau, record and transmit details of the conduct of the customer’s account, and the Customer hereby acknowledges and agrees that any information regarding its creditworthiness, defaults in payment and general conduct of its account with SSS may be disclosed to any registered credit bureau.

CREDIT LIMIT REQUESTED

Application for Credit Facilities

Full Name of the Customer

First Middle Last

Trade Name

Nature of Business

Postal Address*

P.O. Box Town Postal Code

Physical Address*

Street Address Suburb Town Province Postal / Street Code

Tel*

Fax

Cell*

Email*

Type*

Sole Owner

Partnership

Company

Close Corporation

Other

Year Commenced Business*

Vat Number

Company / CC Registration Number*

Registered Office of Company / CC*

Annual Turnover for Last Financial Year

Asset Value at Date of Application

Name and Address of Auditor

PROPRIETOR/DIRECTORS/MEMBERS/PARTNERS Information

PROPRIETOR/DIRECTORS/MEMBERS/PARTNERS Information*

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First Name

Surname

ID Number

Address

Telephone Number

Trade References

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Name

Telephone Number

Banking Details

Name of Account

Bank

Account Number

Branch

Consent*

I agree to the terms and conditions.

1. DEFINITIONS
1.1 In these conditions the words defines shall have the meanings assigned to them hereunder -
1.1.1 “SSS” - SLICK SALON SOLUTIONS (PTY) LTD
1.1.2 “the customer” – the person, partnership firm, firm, association, company or close corporation or other entity applying for credit from SSS in terms of this application for credit.
1.1.3 “these Conditions” – these Terms and Conditions of Sale.
1.1.4 “goods” – all goods sold by SSS;
1.1.5 “SATS” – South African Transport Services;
1.1.6 “National Credit Act” – the National Credit Act 34 of 2005, and the regulations there under, as amended from time to time.
1.2 Unless inconsistent with the context, words relating to any gender shall include the other genders, words relating to the singular shall include the plural and vice versa and words relating to natural persons shall include associations of persons having corporate status by statute or common law.
2. CONCLUSION OF CONTRACT
2.1 The customer may place an order for goods orally or in writing, which order shall constitute the customer’s offer.
2.2 SSS shall be entitled to accept the customer’s order in whole or in part.
2.3 Upon acceptance by SSS of the customer’s order a contract of sale upon the terms set forth in these Conditions shall be deemed to have been concluded between customer and SSS in respect of goods which SSS has agreed to supply.
2.4 Any order form delivered to SSS which reflects the customer’s name shall be deemed to have emanated from the customer, and shall be binding on the customer, notwithstanding that such order may have been given or signed by a person not duly authorized by the customer.
2.5 Each order that is accepted by SSS shall constitute a separate and distinct contract of sale in respect of the goods forming the subject matter of such order.
3. DELIVERY
3.1 The delivery of goods shall be by SSS, SATS, or private carrier or in such other manner as may be expressly agreed between SSS and the customer.
3.2 SATS or any other carrier appointed by SSS shall be the agent of SSS.
3.3 SSS shall have the right to deliver the goods in whatever quantities and on however many separate occasions as it’s in this discretion may decide.
3.4 SSS’s delivery note signed or counter-signed by the customer or any person purporting to be an employee or agent of the customer, or any carrier appointed by the customer, shall for all purposes be deemed to be accurate in all respects and binding on the customer.
3.5 Insofar as the delivery of goods is concerned, time shall not be of the essence of any contract of sale between SSS and the customer and any delivery or dispatch dates mentioned in any quotation, order or other documentation shall be approximate only and not of any contractual effect. In the event of any delay in delivery by SSS, or failure to effect deliver, for any reason whatsoever, than a willful breach by SSS, then –
3.5.1 the customer shall not be entitled to cancel the contract; and
3.5.2 the customer shall have no claim for any loss or damages against SSS as a result thereof.
4. PRICE AND PRICE INCREASES
4.1 The price of the goods shall be as stated by SSS at the time of the conclusion of the contract unless varied in accordance with the distribution agreement.
4.2 If the customer disputes SSS’s right to increase the price of the goods in a particular case, or disputes the amount of any increase claimed by SSS, then –
4.2.1 the customer shall give written notice to that effect to SSS within seven (7) days after receipt of notice of SSS’s intention to increase the price;
4.2.2 if the dispute cannot be resolved between the parties, it shall be referred to SSS’s auditor for the time being who shall determine the increase in the price of the relevant goods (acting as expert and not as arbitrator), and whose determination shall be binding on the parties.
4.3 If the customer does not dispute SSS’s right to increase the price of the goods or the amount of the proposed increase, in accordance with 4.2.1, then the increased price shall be binding upon the customer.
4.4 The foregoing provisions shall not be construed as depriving the customer of any right it may have in terms of the National Credit Act (if applicable) to refer any dispute for alternative dispute resolution in terms of such Act.
5. PAYMENT
5.1 In respect of each sale of goods the purchase price shall be payable by the customer to SSS within 30 days after the date of SSS’s monthly statement reflecting such purchase price, unless otherwise agreed in writing.
5.2 In the event of SSS accepting any post dated cheque, promissory note or other bill of exchange from the customer in respect of any indebtedness of the customer, then the acceptance by SSS of such post dated cheque, promissory note or bill of exchange shall be without prejudice to SSS’s rights in terms of any contract, or according to law.
5.3 If the price of any goods is not paid on due date, the customer shall be obliged to pay interest thereon at the maximum permissible rate of interest prescribed in terms of the National Credit Act from time to time, such interest to be reckoned daily and added to the arrear amount the end of the month, from due date to date of full and final payment.
5.4 All payments shall be made to SSS in South African currency and free of deduction and set-off.
5.5 In the event of a customer failing to make payment of any amount on due date, then the full amount then owing by the customer (whether due or not) shall immediately become due an payable, without prior notice to the customer.
5.6 A certificate signed by any director of SSS (whose appointment need not be proved) reflecting the amount owing by the customer to SSS, and of the fact that such amount is due, owing and payable, shall be prima facie proof of the fact therein stated for the purpose of any action (whether by way of provisional sentence or otherwise), proof of debt on insolvency or liquidation, or for any purpose where the amount of such claim is required to be established.
6. SUSPENSION OF DELIVERIES
Without prejudice to any other rights that SSS may have in terms of these
Conditions, or according to law:-
6.1 If any amount due by the customer to SSS is not paid on due date, SSS shall have the right to suspend all further deliveries of goods to the customer and to cancel all sales of goods already concluded.
6.2 Notwithstanding anything to the contrary herein contained, SSS shall have the right to suspend any delivery under any contract at any time if in its sole discretion it considers that –
6.2.1 the amount owning by the customer (whether due of not) has reached the limit to which it is prepared to allow the customer credit; or
6.2.2 if it come to its notice that the customer’s financial position has deteriorated; or
6.2.3 if it no longer considers the customer to be creditworthy; or
6.2.4 the customer does not acknowledge that any contract is upon the terms set forth in these Conditions.
7. PASSING OF OWNERSHIP AND RISK
7.1 Until such time as the customer has paid the purchase price of all goods sold and delivered to it by SSS in full, the ownership of, and all rights in and to all such goods shall remain vested in SSS.
7.2 SSS shall be entitled to take possession of any goods which have not been paid for in full and in respect of which payment is overdue, in which event the customer shall be entitled to a credit in respect of the goods so returned, being the price at which the goods were sold, or the market value thereof, whichever amount is the lesser.
7.3 The risk in and to the goods shall pass from SSS to the customer on delivery notwithstanding that ownership will not pass to the customer until full payment of the purchase price.
8. CLAIMS AGAINST THE COMPANY AND RETURN OF GOODS
8.1 No claim against SSS arising out of a sale of goods shall be capable of being enforced, and SSS shall not be liable in respect of such claim, unless a written notice setting forth the nature of the claim and the amount claimed have been delivered to SSS within twenty four (24) hours of the delivery of the goods in respect of which the claim is made.
8.2 Goods correctly supplied are not returnable without the prior written consent of SSS and in any event shall not be considered unless arranged within twenty four (24) hours of delivery and where accepted will be subject to a 25% handling charge.
9. EXCLUSIONS
9.1 SSS shall not be liable under any circumstances whatsoever for any loss or damages of any nature whatsoever, whether direct or indirect, consequential or otherwise, sustained as a result of any goods sold by SSS being defective or not conforming to the description thereof, or as a result of any other cause whatsoever, and SSS’s liability in respect of any goods sold by it shall be limited to that provided in 9.3.
9.2 The customer acknowledges that –
9.2.1 SSS is not the manufacturer of the goods;
9.2.2 SSS does not warrant or represent that the goods are fit for any particular purpose (whether or not the particular purpose is known to SSS), and the goods shall be regarded as having been sold voetstoots, and without warranty against latent defects therein;
9.2.3 no liability whatsoever shall arise on the part of SSS for any representations or warranty made, or alleged to have been made, at any time in respect of any goods sold by SSS to the customer.
9.3 If any goods are latently, patently, or otherwise defective and a claim lies against SSS in respect of such goods, SSS may at its option decide either to –
9.3.1 replace the defective goods; or
9.3.2 cancel the sale and reimburse the customer in respect of the purchase price paid by the customer for such goods, against return of the goods to SSS; or
9.3.3 require the customer to accept the goods at a reduced purchase price to be agreed, provided that if the parties are unable to agree on the amount of the reduction that question shall be submitted to be resolved by an independent suitably qualified expert, agreed upon between SSS and the customer, and failing such agreement, appointed by the President for the time being of the Association of Arbitrators, and that the experts decision (acting as expert and not as arbitrator) shall be final and binding upon SSS and the customer; or
9.4 Any decision of SSS in terms of 9.3 shall be notified to the customer in writing.
9.5 If so required by SSS the customer shall be obliged to re-deliver the defective goods to SSS at the customer’s own cost and expense.
9.6 SSS shall not be liable under any circumstances whatever for any loss or damage of any nature whatever whether direct or indirect, consequential or otherwise, arising out of any contract with the customer and/or relating to any goods sold to the customer, SSS’s liability being limited to that provided for in 9.3. The customer accordingly indemnifies and holds SSS harmless against any claim that may be brought against SSS in consequence of any goods being defective and causing any damage whatsoever whether through accident, negligence, gross negligence, or any other cause.
10. BREACH
SSS shall be entitled (subject to compliance with the provisions of the National Credit Act where such Act is applicable) without prejudice to any other rights that it may have in terms of these Conditions or according to law:-
10.1 to cancel any contract and/or any part thereof subsisting with the customer and to claim return of the goods sold thereof; or
10.2 to claim from the customer immediate payment of any monies due by the customer to SSS notwithstanding any earlier agreement for credit, whether same is due for payment or not, if:-
10.2.1 the customer fails to pay on the due date for payment thereof any amount due to SSS under any contract; or
10.2.2 any cheque, promissory note or bill of exchange given to SSS in respect of any indebtedness of the customer under any contract is dishonored by non-payment; or
10.2.3 the customer’s estate is provisionally or finally sequestrated or it is placed in provisional or final liquidation or under provisional or final judicial management; or
10.2.4 the customer commits any act of insolvency in terms of Section 8 of the Insolvency Act; or
10.2.5 the customer enters into any compromise with its creditors generally; or
10.2.6 the customer fails to satisfy any default judgment granted against him within seven (7) days after date of judgment.
11. CESSION
If the National Credit Act is of application between SSS and the customer in respect of the transactions contemplated in these Conditions, the provisions of this clause 11 shall not apply.
11.1 The customer does hereby irrecoverably and in rem seam cede, pledge, assign, transfer and make over unto and in favor of SSS all of its right, title, interest, claim and demand in and to all claims, debts, book debts of whatsoever nature and description and however arising which the customer may now or at any time hereafter have against all and any persons, companies, corporations, firms, partnerships, associations, syndicates and other legal personae whomsoever (the customer’s debtors”) without exception as a continuing covering security for the due payment of every sum of money which may now or at any time hereafter be, or become owing by the customer to SSS from
whatsoever cause or obligation howsoever arising which the customer may be or become bound to perform in favor of SSS.
11.2 Should it transpire that the customer at any time entered into prior Deeds of Cession or otherwise disposed of any of the right, title and interest in and to any of the debts which will from time to time be subject to this Cession, then this Cession shall operate as a Cession of all the customer’s reversionary rights. Notwithstanding the terms of the a foregoing Cession the customer shall be entitled to institute action against any of its debtors provided that all sums of money which the customer collects from its debtors shall be collected on SSS’s behalf provided further that SSS shall at any time be entitled to terminate the customer’s right to collect such monies/debts.
11.3 The customer agrees that SSS shall be entitled at any time or times hereafter to give notice of this Cession to all or any of the customer’s debtors.
11.4 The customer further agrees that SSS shall at any time be entitled to inspect any of the customer’s books or records and in addition shall be entitled to take possession of such books and records (of whatsoever nature) to give effect to the terms of the Cession.
12. SET-OFF It is agreed that set-off shall operate automatically as a matter of law at the moment reciprocal debts between SSS and the customer come into existence and independently of the will of the parties and it shall not be necessary for either SSS or the customer to specifically raise set-off. Upon the operation of an automatic set-off aforementioned, the debts shall be mutually extinguished to the extent of the lesser debt.
13. ACCEPTANCE OF DELIVERY
Signature by the customer, or by any person purporting to be an employee or representative of the customer, of SSS’s delivery note shall be regarded as acceptance by the customer that the goods reflected in such delivery note have been properly and completely delivered.
14. CESSION BY SSS
SSS shall, at any time, in its sole discretion, be entitled to cede all or any of its rights in terms of this Agreement and Deed of Surety ship to any third party, without prior notice to the customer.
15. RELAXATION INDULGENCES
Any condo nation of any breach of any of the provisions hereof or other acts or relaxation indulgence or grace on the part of SSS shall not in any way operate as or be deemed to be a waiver by SSS of any rights under this Contract or be construed as a novation thereof.
16. CHANGE OF OWNERSHIP OF THE CUSTOMER’S BUSINESS
If at any time there is any change in ownership of the customer’s business, or should the customer be a company or close corporation, any change in shareholding or change of members’ interests, without the prior approval of SSS, then all amounts then owing by the customer, whether due or not, will immediately be deemed to be due and payable by the customer to SSS, and in addition, SSS shall be entitled to exercise the rights accorded to it in terms of 6 and 10 which shall apply mutatis mutandis.
17. LEGAL CHARGES
In the event of SSS instructing its attorneys to recover money or goods from the customer, the customer shall be liable for and pay all legal costs incurred by SSS on the attorney and client scale, including any collection commission.
18. INTERPRETATION AND JURISDICTION
18.1 This contract shall be interpreted according to the laws of the Republic of South Africa. 18.2 Notwithstanding the amount which may at any time be owing by the customer to SSS, the parties do hereby consent, in terms of Section 45 of the Magistrates Court Act No 32 of 1944 as amended to the jurisdiction of the Magistrates Court having jurisdiction for the determination of any action or proceedings otherwise beyond the jurisdiction of the said Court which may be brought by SSS against the customer arising out of any transaction between the parties, it being recorded that SSS shall be entitled, but not obliged, to bring any action or proceeding in the said Court.
19. DOMICILIA
19.1 All notices by the one party to the other shall be given in writing by prepaid registered post, telegrams, or delivery by hand —
19.1.1 to SSS at 104 Vlootboot street, Unit 2 Falcon Mini Factories, Lazerpark, Honeydew;
19.1.2 to the customer at the trading address referred to in the Application for Credit Facilities which addresses the parties choose as their respective domicilia citandi et executandi.
19.2 The parties shall be entitled to change the address as referred to in 19.1 from time to time provided that any address selected by either of them shall be situated in the Republic of South Africa and any such change shall only become effective upon receipt of notice in writing by the other party of such change.
20. NO OTHER CONDITIONS BINDING
20.1 SSS shall not be bound by any oral statements, recommendations, figures, advises, formulae, specifications, prices quoted, acceptances or representations unless they are in writing and signed on behalf of SSS by its duly authorized representative.
20.2 All sales of goods by SSS are subject to these Conditions, and no other conditions shall be binding on the parties notwithstanding that such conditions may be annexed to, contained in or incorporated by reference in, any documents exchanged between SSS and the customer and purport to regulate the terms of any purchase by the customer.
20.3 No variation or consensual cancellation of these Conditions, or any contract referred to in 2.4 shall be binding upon SSS unless it is in writing and signed by a duly authorized representative of SSS.
21. NATIONAL CREDIT ACT
If any of the provisions of the National Credit Act are applicable in relation to any transactions between SSS and the customer pursuant to these Conditions, then:-
21.1 any provision of these Conditions which may be rendered unlawful by any applicable provisions of such Act shall be deemed to have been severed from these Conditions;
21.2 these Conditions shall not exempt SSS from any liability which may not lawfully be excluded in terms of such Act;
21.3 these Conditions shall not be construed as depriving the customer of any right that the customer may have in terms of any applicable provisions of such Act which may not lawfully be excluded.

Signed at*

Date*

Signature*

Print name and designation*

Suretyship

I/We, the undersigned

(insert name of surety)

(insert physical address of surety)

And

(insert name of surety)

(insert physical address if surety)

Customers Name

hereby bind myself/ourselves in favor of SLICK SALON SOLUTIONS (PROPRIETARY) LIMITED (“the creditor”) and its successors in title, as surety for and co-principal debtor in solidium with

First Name Surname

Consent*

I agree to the surety policy.

(“the debtor”) for the payment on demand of all monies which the debtor may now or at any time hereafter owe to the creditor for any cause of indebtedness whatsoever whether now existing or existing in the future and whether arising from transactions between the debtor and the creditor or acquired by the creditor by cession or otherwise.
2. It shall be in the discretion of the creditor to determine the extent, nature and duration of the facilities to be allowed to the debtor. All acknowledgements of indebtedness and admission by the debtor shall be binding on me/us.
3. The creditor shall be entitled without prejudice to its rights hereunder to release any securities given to it or to give time to or compound or make any arrangements with or enter into any compromise with the debtor in regard to payment of the indebtedness of the debtor to it which the creditor in its absolute discretion deems fit.
4. l/We undertake not to prove a claim against the debtor’s estate for any amount I/we may be called upon to pay under the surety ship until all amounts (including interest and costs) due by the debtor to the creditor have been paid in full. Any dividend received by the creditor in respect of its claim against the debtor shall be appropriated in the first instance to the payment of that part of the debtor’s indebtedness to the creditor which is not covered by this surety ship.
5. l/We agree that the creditor shall be entitled, without prejudicing its rights against me/us to prove a claim against the debtor’s estate for the full amount of the indebtedness of the debtor to the creditor and to claim from me/us the full amount of my/our indebtedness.
6. The creditor is irrevocably authorized to apply any monies received by it from me/us in terms of this surety ship against the indebtedness to it of the debtor in such a manner as the creditor in its discretion may think fit, or where the National Credit Act 34 of 2005 is applicable, in accordance with the provisions of such Act.
7. This surety ship shall remain in force as a continuing security notwithstanding my/our death or legal disability until the creditor has received payment of all amounts owing by the debtor. l/We shall not be entitled to claim release or discharge from my/our obligations hereunder unless such release or discharge is recorded in writing in one document which is signed by the creditor and me/us, l/We shall not be entitled to terminate
this surety ship or to limit my/our liability hereunder in any way unless the creditor agrees in writing to my/our doing so.
8. This surety ship shall be in addition to and without prejudice to any other surety ship or securities now held or hereafter held by the creditor from or on behalf of the debtor.
9. Subject to, and without derogating from, my/our rights in terms of any applicable provisions of the National Credit Act 34 of 2005 (where such Act applies), a certificate signed by the creditor (or by its auditors or any one of its directors, whose appointment, qualification and/or authority shall be presumed unless the contrary is proved) as to the amount of my/our indebtedness hereunder or that of the debtor to the creditor at the date of that certificate, shall be prima facie evidence of the amounts of indebtedness shown in that certificate and binding on me/us (unless I/we prove the incorrectness thereof) in any proceedings instituted by the creditor in any competent court for the purpose of obtaining provisional sentence or judgment against me/us.
10. I/We record that my/our obligation hereunder shall include obligations owed by the debtor to the creditor jointly with any other person.
11. The creditor shall be entitled, at its option, to institute action against me/us on this surety ship in any Magistrate’s Court, notwithstanding that the amount claimed might exceed the jurisdiction of such Court. I/We hereby consent to the jurisdiction of both these Courts.
12. Should the creditor cede the whole of its right of action against the debtor to any third party, then the creditor’s rights under this surety ship shall be deemed to have been simultaneously ceded and transferred to the cessionary in question.
13. Should I/we at any time in defending any action based on this surety ship allege that - 13.1 no money was paid over by the creditor to the debtor (exception non numeratae pecuniae); and/or 13.2 there is no reason or cause for the debtor’s obligation to the creditor (exceptio non causa debiti); and/or 13.3 errors have been made in the calculation of the amount claimed (exceptio errore calculi and revision of account): then the onus of proving such a defence will rest on me/us.
14. I/We renounce the benefits of excussion, division and cession of action the full meaning and effect of which I/we know and understand.
15. I/We choose as my/our domicilium citandi et executandi (physical address) for all purposes hereunder at the address mentioned in paragraph I above, and any notice may be given to me/us by delivery or pre-paid registered post at this address. Any notice sent by registered post in terms hereof shall be deemed to be received seven (7) days after the date upon which it is posted to me/us.
16. If the creditor instructs an attorney to enforce the creditor’s rights hereunder, I/we undertake to pay the creditor’s legal costs (and collection commission) as between attorney and client whether or not such costs are incurred in legal proceedings.
17. If this suretyship is not signed by any one of the persons whose names appear as sureties or is held to be or becomes not binding in whole or in part is not enforceable against any one or more of us, it shall remain binding upon the other of us without reduction of our liability.
18. Unless inconsistent with the context, words relating to any gender shall include the other genders, words relating to the singular shall include the plural and vice versa, and words relating to natural persons shall include associations of persons having corporate status by statute or common law.

Dated at*