For the
attention of David Lloyd
Axiom
Manufacturing Services Ltd
Unit
1
Aiwa
Technology Park
Newbridge
Newport,
NP11 5AN
27 March
2006
Our Ref:
LM/288171
Dear
Sir,
We refer
to the Agreement for the Purchase of Debts between you and us ("the
Agreement").
With
effect from the 10 February 2006, the following shall
apply:-
O
We shall
no longer provide you with our Credit Management Service and Clause
E of the Agreements hall be construed accordingly.
O
In
consideration of the above mentioned changes the service charge
specified in Clause H.6 shall be amended to 0.42 per
cent.
Further,
we are writing to confirm that you will also sell and we shall also
purchase all the existing and future debts arising from your sales
to customers located in Austria, Belgium, Canada, the Greek
Administrative Region of Cyprus, Czech Republic, Denmark, Estonia,
Finland, France, Germany, Gibraltar, Greece, Hungary, Italy,
Latvia, Lithuania, Luxembourg, Malta, The Netherlands, Poland,
Portugal, Slovakia, Slovenia, Spain, Sweden,
Your sale
and our purchase of the above-mentioned debts will be upon the
terms set out in the Agreement as varied by the following
provisions:-
O
The
prepayment facility, for which provision is made in Clause F.1,
shall only apply in respect of eligible debts payable by agreed
customers who are located outside the British Isles to the extent
that they do not exceed 5 per cent of all eligible debts payable by
agreed customers at any one time.
O
The
Payment Terms, for which provision is made in Clause H.5, shall not
exceed 90 days from date of invoice.
O
In
addition to the undertakings given by you in Condition21.1, you
also undertake:-
(a) To
show on all your invoices representing sales to customers located
outside the
British
Isles that the relevant sales are subject to "lnco
terms";
(b) To
ensure that:-
(i)
where necessary, your and/or the customer possess all licences
required to export/import the relevant goods; and
(ii)
you and the customer comply with all laws and/or regulations
applicable to the import or export of the relevant goods including,
but not limited to, any exchange control regulations;
and
(c) To
provide us, each year, with a declaration of your total sales to
customers located in each country within the scope of this
Agreement
