5. PAYMENT

1. The Supplier may invoice the Buyer for the Goods and any costs in respect of carriage and / or insurance payable by the Buyer on or at any time following the acceptance of the Buyer’s Order for the Goods.
2. Unless the Supplier has agreed to an alternate credit period in accordance with condition 5.4 below, the Buyer shall pay the invoice in full without any deduction or set off immediately upon confirmation of the Order, via electronic funds transfer, directly into the nominated bank account of the Supplier, as per the Supplier’s invoice.
3. If it is agreed that the Delivery Point is to be outside the Republic of South Africa, the Buyer shall pay to the Supplier the taxes, duties and levies referred to in condition 2 within 14 days of the date of the relevant invoice in respect of the same, unless, the Supplier has agreed to an alternate credit period in accordance with condition 5.4 below.
4. The Supplier may set an alternate period for payment of invoices by the Buyer at its sole discretion. This may be a longer or shorter period than the period set out at 5.2 and 5.3 above. The Supplier’s agreement to a credit period shall not bind it in respect of all future orders and the Supplier may determine a different credit period for each Order placed by the Buyer and any credit period agreed by the Supplier is subject to review in accordance with condition 5.5 below.
5. The Supplier may review the credit period assigned to the Buyer from time to time at its sole discretion. The Supplier shall be entitled to revise the same as it may in its absolute discretion decide (including removal altogether forthwith). If the credit period assigned to the Buyer:
   1. is removed at any such review, the Supplier shall notify the Buyer accordingly and such removal shall apply: (a) with effect from deemed receipt of such notice in accordance with condition 10 (Communications) and (b) to any and all invoices issued to the Buyer by the Supplier which are outstanding as at the date of deemed receipt of such notice (provided that interest for late payment may only be charged with effect from the date of deemed receipt of the Supplier’s notice to the Buyer that the credit period is removed), as well as to any invoices issued by the Supplier to the Buyer from and including the date of deemed receipt of such
   2. is decreased (but is not removed entirely pursuant to condition 5.5.1) at any such review, any such decreased credit period shall apply to any and all invoices issued to the Buyer by the Supplier with effect from the date of the relevant review.
   3. is increased at any such review, any such revised credit period shall apply to any invoices issued by the Supplier to the Buyer from and including the date of such review or such later date as the Supplier may decide and notify to the
6. For the avoidance doubt, time of payment shall be of the essence.
7. All payments received, if not supported by a remittance advice, will be allocated to the oldest invoices on the account.
8. No payment by the Buyer shall be deemed to have been received until the Supplier has received cleared funds into the company’s bank account.
9. If the Buyer fails to pay the Supplier any sum due, the Buyer shall be liable to pay interest to the Supplier on such sum from the due date for payment at the maximum permissible rate as allowed for in terms of the National Credit Act 34 of 2005, accruing on a daily basis until payment is made, both before or after any
10. The Buyer shall pay all amounts due under the Contract in full without any deduction or withholding except as required by law and the Buyer shall not be entitled to assert any credit, set-off or counterclaim against the Supplier in order to justify withholding payment of any such amount in whole or in part. The Supplier may at any time, without limiting any other rights or remedies it may have, set-off an amount owing by it to the Buyer against any amount payable by the Supplier to the Buyer.
11. The Supplier may at is sole discretion and without liability to the Buyer refuse to fulfil an Order, including any order that it has accepted, whilst any invoice issued by the Supplier to the Buyer remains overdue and
12. It is agreed that payments may be made via Visa, Mastercard, Diners or American Express credit cards or by bank transfer into the Supplier’s bank account, as per Condition 5.2 above.
13. Credit card transactions will be acquired for the Supplier via PayFast (Pty) Ltd, who are the approved payment gateway for First National Bank of South Africa. PayFast uses the strictest form of encryption, namely Secure Socket Layer 3 (SSL3) and no credit card details are stored on the
14. The Buyer’s details shall be stored by the Supplier separately from card details which are entered by the Supplier on PayFast secure site. Further details can be obtained on the PayFast website PayaFast.co.za
15. The Supplier shall, in relation to PayFast transactions, take responsibility for all aspects relating to the transaction, including sale of Goods and services sold on the website, customer service and support, dispute resolution and delivery of Goods.