AGREEMENT
FOR THE PURCHASE OF DEBTS
A.
PARTIES
This
Agreement is between us, HSBC Invoice Finance (JK) Ltd - Registered
Number:
759657 of
Farncombe Road, Worthing, Sussex, BN11 2BW, and you, the client
named in the
Client
Particulars set out in Clause P.
B.
DATE
This
Agreement is made on the day the last of you and us signs
it.
C.
AGREEMENT
C1.
You agree
to sell and we agree to buy, on and from the commencement date, all
debts existing on that date and future debts arising from your
contracts of sale entered into under whatever trading name you may
ever use with those of your customers named or described in clause
H.8. and any other customers subsequently agreed
between you and us.
C2.
The sale
and purchase of your debts shall be on the terms set out below and
in our standardterms and conditions ("the Conditions") which are
supplied with and form part of this Agreement. You have had the
prior opportunity to take independent legal advice, on your and our
rights and obligations. You have therefore entered into this
Agreement on the basis that you have read and understood
it.
D.
DEFINED
EXPRESSIONS
An
expression, used in this Agreement and/or in the Conditions, is to
have the meaning given to it under Condition 33, if it appears
there. References to clauses are to those in this Agreement and to
conditions are to those in the Conditions.
E.
SERVICE
SELECTED
You have
selected the following service(s) which is/are more fully described
in the Conditions:
Finance
Credit
Management
Credit
Protection
F.
BASIC
TERMS OF OUR FINANCE SERVICE
F.1
Prepayment
Facility (See Condition 33):
75 per
cent
F.2
Discounting
Allowance (See Conditions 18 and 33):
2.5 per
cent under Base Rate
F.3
Discounting
Charge (See C onditions18 and 33):
2.0 per
cent over Base Rate
F.4
Concentration
Limit (See Condition 33):
30 per
cent
G.
BASIC
TERMS OF OT]R CREDIT PROTECTION SERVICE
G.1
Credit
Protection Percentage (See Condition 33 - Definition of Credit
Protected Debt):
100 per
cent
G.2
First loss
(See Condition 33):
£500
H.
BASIC
TERMS APPLICABLE TO ALL SERVICES
H.1
Commencement
date (See Condition 33):
9
September 2002
H.2
Notice of
Assignment Provisions (See Condition 7):
Notice is
to be given to all customers named or described in Clause
H.8
H.3
Non
Notifiable Debts in addition to those already specified in
Conditions 21.1(o) and 21.1(p)
(See
Condition 33):
Debts
arising from sales to your customers on cash with order and pro
forma terms
H.4 Your
Business (See Condition 20.2(f)):
PCB
Manufacturers
H
