1. The following Net-60 Terms are offered by Trustana Singapore Pte. Ltd. (UEN: 202009271E)(“Trustana”, “us” or “our”) to you as a buyer, so as to allow you to buy inventory now and pay for it 60 days later.
2. By choosing the Net-60 option (“Net-60”) at check-out, you are agreeing to be bound by the Net-60 Terms here under. If you do not agree to the Net-60Terms, you must not select Net-60 option at check-out.
3. Upon approval of your access to Net-60, you are granted an initial payment limit(“Net-60 Limit”) you can spend using Net-60. If you place an order exceeding your available Net-60 Limit, the order will be rejected.
4. You agree that Net-60 is made available to you at the sole discretion of Trustana and there is no guarantee that your use of Net-60 will be successfully approved or processed.
5. For every transaction using Net-60 that has been approved, the payment amount shall become due and payable within 60 days from the date of the order.
6. In the event of non-payment upon payment becoming due, an administrative fee of SGD10 and late payment interest at the rate of 1% per month shall be payable. Notwithstanding the above, we reserve the right to suspend or terminate your user account immediately and take the necessary legal action to enforce our rights against you.
7. You agree that we have the right to review your Net-60 Limit from time to time, based on your payment history, financial information and/or any other additional relevant information (collectively referred to as “Relevant Information”).
8. Further to Clause 7 above, you agree that you will provide the Relevant Information as may be requested by us from time to time, and we are duly authorised hereunder to process such Relevant Information for the purpose of reviewing your Net-60 Limit.
9. These Net Terms are governed by and construed in accordance with the laws of the Republic of Singapore.