Payment 
1. On approval of an account, payment in full is due within 7 days of Statement date. An extension of terms can be arranged, in writing, with Rangitikei Foods Ltd. (e.g. payment by 20th of month following)

Defects and Shortages
2. The buyer shall inspect the goods on delivery and shall, within 24 hours, notify Rangitikei Foods Ltd, in writing, of any alleged defect or shortage in quantity.  Failure to do so by the buyer means that all goods are deemed to be free of any defect or damage and fully accepted by the buyer.

Non Receipt of Delivery
3. The non-receipt of an expected delivery must be advised, in writing, to Rangitikei Foods Ltd within 24 hours of its expected arrival time. Failure to do so by the buyer means that all goods are deemed to be received by the buyer.

Ownership of Goods
4. The goods supplied remain the property of Rangitikei Foods Ltd until payment is made in full.  If such goods are sold prior to payment being made the proceeds of such sale shall become the property of Rangitikei Foods Ltd.

Interest on Overdue Accounts
5. Interest may be charged at the rate of 2% per month, compounding each month, on overdue accounts.  Rangitikei Foods Ltd reserves the right to withdraw credit facilities from any account that is overdue.

Recovery of Costs
6. Any and all costs incurred in recovering any overdue account including collection commissions, court and legal fees (on a solicitor, client, own basis) will be payable in full by the debtor.