1. Privacy Statement
1.1 The Seller is collecting information about the Buyer and each of the individuals identified in an Application for Credit and/or Consignment Account or other registration with HCB Technologies Limited (each an ‘Individual’) to determine whether to open a credit and/or consignment account in the name of the Buyer, to accept an Individual as a guarantor of the Buyer’s obligations and thereafter from time to time to determine whether or not to continue offering credit to the Buyer. If all the requested information is not provided, the Buyer may not be able to open a credit and/or consignment account or purchase Goods on credit from the Seller. Information collected and held about the Buyer and each Individual may be used from time to time for credit assessment and control and debt recovery purposes, to register any security interest granted to the Seller, for marketing and promotional purposes and generally to do business with the Seller. Information (including default information) may from time to time be disclosed to, and collected from, the Buyer’s trade references, credit reporting agencies, debt collection agencies and other companies in the Seller’s group of companies (the ‘Group’) for credit assessment and control and debt recovery. Information disclosed to credit reporting agencies (including default information) will be held by each agency on its system accessed by the customers of the credit reporting database and used to provide its credit reporting services (including the maintenance of credit information files and supplying the information to other customers of the relevant credit reporting agency). Under the Privacy Act 1993, Individuals have rights of access to, and correction of, their personal information.
2. Personal Property Securities Act 1999
2.1 The Buyer acknowledges and agrees that:
(a) These Terms constitute a security agreement for the purpose of the Personal Property Securities Act (the ‘PPSA’); and
(b) a security interest is taken in all Goods previously supplied by the Seller to the Buyer (if any) and all Goods that will be supplied in the future by the Seller to the Buyer during the continuance of the parties’ relationship.
2.2 The Buyer undertakes to:
(a) sign any further documents and/or provide any further information such information to be complete, accurate and up-to-date in all respects, which the Seller may reasonably require to register a financing statement or financing charge statement on the Personal Property Securities Register;
(b) indemnify, and upon demand reimburse, the Seller for all expenses incurred in registering a financing statement or financing charge statement on the Personal Property Securities Register or releasing any Goods charged thereby;
(c) not register a financing charge statement or a charge demand without the prior written consent of the Seller;
(d) give the Seller not less than fourteen (14) days prior written notice of any proposed change in the Buyer’s name and/or any other change in the Buyer’s details (including but not limited to, changes in the Buyer’s address, facsimile number, or business practice); and
(e) immediately advise the Seller of any material change in its business practices of selling the Goods which would result in a change in the nature of proceeds derived from such sales.
2.3 The Seller and the Buyer agree that nothing in section 114(1)(a), 133 and 134 of the PPSA shall apply to the enforcement by Seller of any security interest created or provided for under these Terms.
2.4 The Buyer waives its right as a debtor under sections 116, 120(2), 121, 125, 126, 127, 129, 131 and 132 of the PPSA.
2.5 Unless otherwise agreed to in writing by the Seller, the Buyer waives its right to receive a verification statement in accordance with section 148 of the PPSA.