Credit Account Terms & Conditions

If expressly invited to do so, a customer may apply to JM Wholesale for deliveries of goods to be made in advance of actual payment under the following terms. Unsolicited applications will not be considered.
These terms are supplemental to the terms and conditions of business relating to non-credit sales. If a conflict arises between these terms and the non-credit terms these terms shall have precedence.
JM Wholesale may in its absolute discretion agree to provide customers with credit on the terms set out below on application of a customer supported by such information as may be requested from time to time by representatives of JM Wholesale Limited.
JM Wholesale may in its absolute discretion at any time terminate any credit facility with immediate effect such that any and all amounts then owing by the customer to JM Wholesale would become immediately payable in full.
Credit limits:
1. The maximum amount of credit which a customer will be considered for on application is £2,000 (including VAT) for any one order, unless agreed otherwise via email. If the value of the order is less than £2,000 (including VAT) then the maximum credit amount will be the amount of the order;
2. The credit limits in this clause 5 shall apply per customer entity subject to the discretion of JM Wholesale to grant credit limits per retail outlet where a customer entity has more than one retail outlet. By way of example, where a customer entity has three retail outlets, JM Wholesale may at its discretion grant credit facilities of £2,000 to each of the retail outlets making an aggregate total credit of £6,000; and
3. From time-to-time JM Wholesale will reassess a client credit limit and may at its sole discretion offer to the customer to increase such credit limits. Any such increase in credit limits will be notified to the customer in writing by JM Wholesale and may be reduced or withdrawn at any time.
Order Limits:
1. Payment for one order only may be outstanding at any given time. For illustration, if credit is granted in respect of an order valued at £1,500, then credit would not be considered in relation to a further order for £500 until the first order had been paid in full.
2. From time-to-time JM Wholesale will reassess a client order limit and may at its sole discretion offer to the customer to increase such order limits. Any such increase in order limits will be notified to the customer in writing by JM Wholesale and may be reduced or withdrawn at any time.
Only in cases where we have agreed in writing with you in advance (and such agreement has not been revoked), we may invoice you on agreed payment terms. In such cases payment will be due from you within 15 days from the date when your order is first received by us online via our website. By way of illustration, an order issued on 10 May would be due for payment 15 days later being 25 May. The date of the order on the invoice will be conclusive as to the date of receipt of your order for the purpose of this calculation and the payment due date.
Title to the goods delivered by JM Wholesale Limited to the Customer (Goods) shall not pass to the Customer until the earlier of:
1. JM Wholesale Limited receives payment in full (in cash or cleared funds) for the Goods and any other goods that JM Wholesale Limited has supplied to the Customer, in which case title to the Goods shall pass at the time of payment of all such sums; and
2. the Customer resells the Goods, in which case title to the Goods shall pass to the Customer at the time specified in clause 10.
Until title to the Goods has passed to the Customer, the Customer shall:
1. store the Goods so they remain readily identifiable as JM Wholesale Limited's property;
2. not remove, deface or obscure any identifying mark or packaging on or relating to the Goods;
3. maintain the Goods in satisfactory condition and keep them insured against all risks for their full price from the date of delivery; and
4. give JM Wholesale Limited such information as the JM Wholesale Limited may reasonably require from time to time relating to:
  1. the Goods; and
  2. the ongoing financial position of the Customer.
5. Subject to clause 11, the Customer may resell or use the Goods in the ordinary course of its business (but not otherwise) before JM Wholesale Limited receives payment for the Goods. However, if the Customer resells the Goods before that time:
  1. it does so as principal and not as JM Wholesale Limited’s agent; and
  2. title to the Goods shall pass from the JM Wholesale Limited to the Customer immediately before the time at which resale by the Customer occurs.
6. At any time before title to the Goods passes to the Customer, JM Wholesale Limited may:
  1. by notice in writing, terminate the Customer's right under clause 8 to resell the Goods or use them in the ordinary course of its business; and
  2. require the Customer to deliver up all Goods in its possession that have not been resold, or irrevocably incorporated into another product and if the Customer fails to do so promptly, enter any premises of the Customer or of any third party where the Goods are stored in order to recover them.
7. You will indemnify JM Wholesale Limited against all claims, demands, costs, charges and expenses which may be brought or preferred against JM Wholesale Limited or which JM Wholesale may incur arising out of or in connection with the credit unless directly due to JM Wholesale Limited’s negligence or default.
8. Any credit granted and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by, and construed in accordance with, English law. We agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with any such credit or its subject matter or formation (including non-contractual disputes or claims).
9. Declaration for exemption relating to businesses
  1. (articles 60C and 60O of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)
  2. I am/We are entering into this agreement wholly or predominantly for the purposes of a business carried on by me/us or intended to be carried on by me/us.
  3. I/We understand that I/We will not have the benefit of the protection and remedies that would be available to me/us under the Financial Services and Markets Act 2000 or under the Consumer Credit Act 1974 if this agreement were a regulated agreement under those Acts.
  4. I/We understand that this declaration does not affect the powers of the court to make an order under section 140B of the Consumer Credit Act 1974 in relation to a credit agreement where it determines that the relationship between the lender and the borrower is unfair to the borrower.
  5. I am/We are aware that if I am/we are in any doubt as to the consequences of the agreement not being regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974, then I/we should seek independent legal advice.