2.       Invoice Terms & Conditions of Payment

2.1 GT will issue an invoice(s) for the Services supplied to the Customer and for any other applicable charges or amounts that GT is entitled to charge or recover from the Customer under this Agreement and Order. The invoice will specify the payment terms, which must be adhered to strictly by the Customer.

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2.2 All accounts are to be settled in full within the payment terms specified on the tax invoice for the services purchased.

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2.3 If the Customer defaults in the payment of any monies due under this Agreement:

• All outstanding amounts shall immediately become due and payable on the due date advised on the tax invoice. The Customer must pay these amounts within twenty-one (21) days of receiving a written demand from GT.
• If payment is not made within the specified time frame, GT reserves the right to recover the outstanding debt, which may include taking possession of machinery, equipment, or other assets owned outright by the Customer, provided that:
  • The right to repossess such assets is permitted by law and specified in a legally binding agreement.
  • GT provides the Customer with written notice of its intention to repossess such assets.
  • The Customer does not object or resolve the outstanding payment within seven (7) days of receiving the final demand.
  • Any action to take possession of machinery or equipment will comply with applicable laws, including securing rights under the Personal Property Securities Act 2009 (Cth) where required.
  • GT will only exercise this right if the value of the outstanding amount is significant, and the recovery of assets is reasonable and proportionate to the debt owed.

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2.4 GT may charge interest on overdue amounts from the due date until payment is received in full.

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2.5 Interest will be calculated daily at a rate 2% above the rate fixed under section 2 of the Penalty Interest Rate Act 1983 (VIC) at the time of default.

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2.6 The Customer agrees to pay any reasonable expenses, costs, or disbursements incurred by GT in recovering overdue amounts, including legal fees and debt collection commissions.

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2.7 GT reserves the right to refer overdue accounts to a mercantile agency for collection. The Customer will be responsible for all reasonable costs and commissions associated with employing the mercantile agent.

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2.8 GT may terminate any credit arrangement with the Customer without notice if the Customer is insolvent or defaults on any terms of this Agreement. For all other circumstances, GT will provide seven (7) days' written notice before terminating the credit arrangement.

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2.9 Should the Customer be a company, the directors of the Customer agree to be personally liable for any breach of these conditions. The directors shall also be personally liable for the payment of all fees, charges, and any other amounts arising out of the performance of the delivery agreement by the Carrier, subject to any exclusions contained in these terms and conditions. This personal liability is in addition to the company's liability and will be enforceable in the event of non-payment or default by the company.

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3.0 Quotations provided by GT do not include any allowance for waiting time. Any waiting time incurred, whether due to delays on the part of the Customer, third parties, or other unforeseen circumstances, will be charged separately to the Owner at the applicable hourly rate or as otherwise agreed. All additional costs arising from waiting time, including but not limited to labor, equipment, or other related expenses, will be the responsibility of the Owner and shall be invoiced as an extra charge.

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