CMI Terms Of Trade

4 November 2011

1.1 Each order by the Customer is deemed to be a separate and distinct application for credit from CMI Music & Audio PROPRIETARY LIMITED (ACN 005 458 195) ("CMI") for the purposes of these Terms of Trade and is subject to acceptance by CMI.

1.2 Upon acceptance of any orders by CMI these Terms of Trade are applicable to that order and the resultant  supply of Goods by CMI to the Customer.

1.3 Notwithstanding acceptance of any order by CMI, CMI may at any time alter or suspend credit terms, refuse any delivery or cancel unfilled orders when, in CMI's opinion, the financial condition of the Customer or the status of the Customer's account justify such action.

2.1 Acceptance of delivery of the Goods by the Customer is deemed to be acceptance by the Customer of these Terms of Trade notwithstanding anything that may be stated to the contrary in the Customer's inquiries or on the Customer's order.

2.2 These Terms of Trade shall not be deemed or construed to be modified, rescinded or wavered in whole or in part except by Deed executed by the parties by way of variation of these Terms of Trade.

3.1 All orders will be delivered at CMI's prices prevailing at the time of delivery (which need not be the recommended retail price for the goods) and accordingly CMI reserves the right to change prices for Goods without notice to the Customer. All sales will be ex Company's warehouse and CMI reserves the right to vary any delivery and freight arrangements at any time.

3.2 Unless otherwise stated prices do not include goods and services tax (GST), freight or insurance charges which, if applicable, will be an extra charge to the Customer's account.

3.3 The Customer may request that the Goods be delivered to the Customer by the Customer's own freight forwarder. The Company will not unreasonably withhold consent to such request provided that the Customer fully insures the Goods for loss of damage during transit to the Customer.

4.1 All goods sold by CMI are on an Ex Warehouse basis.

4.2 CMI offers "Consignment Fee Only" to account customers that purchase in excess of the set CMI target, excluding GST. If the customer elects to accept CMI's "Consignment Fee Only" offer they also elect pay insurance charges as charged by CMI on all invoices. CMI only offers "Consignment Fee Only" with insurance.

4.3 Insurance is payable to CMI on all goods that are dispatched via CMI's chosen courier.

4.4 A CMI customer can elect NOT to pay CMI Insurance, only if they chose to use their own freight company. C.M.I. must be notified in writing by any Customer who wishes to use their own freight company.

4.5 For Customer nominated freight companies - freight will be charged collect and insurance will be the responsibility of the Customer. Goods lost or damaged in transit are the Customer's responsibility.

5.1 The Customer acknowledges that any delivery dates stated by CMI are estimates only made in good faith by CMI. Delivery times shall not be of the essence of these Terms of Trade.

5.2 Under no circumstances shall CMI be liable to the Customer for damages (including consequential and special damages) for failure to deliver or delay in delivery to the Customer howsoever occasioned.

5.3 CMI shall be entitled to cancel or suspend delivery of the Goods in the event of any delay or non performance due directly or indirectly to wars, strikes, lockouts, delays or defaults of manufacturers or suppliers, act of god, or any other cause (whether similar or dissimilar) beyond the reasonable control of CMI. The Customer waives all claims whatsoever against CMI in consequence of any such cancellation or suspension.

6.1 Payment Terms are strictly 30 DAYS after the end of the month in which the goods were purchased.

6.2 The Company accepts payment by cheque, direct deposit, Bankcard, MasterCard and Visa. However, the use of credit cards, when paying existing account debts may attract a processing fee.

6.3 No credit is extended to the Customer on overdue accounts and if payment is not received by CMI by the Due Date and liquidated damages shall apply to all overdue accounts calculated on a daily basis from the date the account falls due at the rate of 1.8% per month.

6.4 Payments made by the Customer to CMI shall be applied on order of money owed by the Customer to CMI and not to specific orders.

6.5 A settlement discount of 5% will apply if payment is received within 30 days of the end of the invoice month. If payment is made by credit card the following discount will apply, American express 3%, Visa & Mastercard 4% (this applies to account customers only). If any monies are unpaid or overdue, then the settlement discount is void.

6.6 If payment is received within 7 days of the Invoice date, an additional 3% will apply to account customers only. (i.e.-30%, -5%, -3%)

6.7 All legal costs and expenses incurred in the collection of overdue accounts will be borne by the dealer.

7.1 The risk in the Goods shall pass to the Customer from the time of dispatch.

8.1 Without prejudice to the liability of the Customer to pay for the Goods and notwithstanding delivery of the Goods by CMI to the Customer the Goods shall remain the property of CMI as legal and equitable owner until payment in full of all moneys due in respect of the Goods by the Customer to CMI.

9.1 CMI is under no obligation to accept Goods returned by the Customer and will do so only upon terms to be agreed in writing with the Purchaser which shall be specific to the Goods concerned and not extend to any other order made by the Customer.

9.2 Any Goods returned by the Customer must receive prior allocation of a "return authorisation number" (RA Number) and the Customer acknowledges that if the RA Number is not clearly displayed on the packaging of the Goods or the RA number when returned the return may be refused by CMI and freight will be payable by the Customer.

9.3 All Goods returned for replacement or credit must be in original packaging, unsoiled, undamaged with all accessories. Claims for credit or replacement must be made within (14) Days of delivery.

9.4 No order may be cancelled except with the prior consent in writing of the company.

10.1 The Customer hereby grants permission in accordance with the Privacy Act to CMI to carry out such credit enquires as to provide such information concerning the applicant as the Company may in its sole discretion determine and the Guarantor further hereby indemnifies the Company in respect of any claims or actions arising out of the obtaining or providing of information concerning Guarantor in exercise of its discretion as outlined herein.

11.1 A product which is unavailable at the time of order will be placed on back order and will be dispatched to the customer immediately upon the product being made available by CMI.

11.2 If the customer does not wish products to be back ordered or requires to cancel a product on back order they must advise CMI of this in writing.

12.1 CMI Music & Audio Pty Ltd warrants that any product sold by it and found defective due to faulty material or workmanship within 12 months from the date of original purchase except where an Extendable warranty is offered or Vacuum Valves are supplied, in which case a 3 month warranty period will apply. CMI will underwrite the parts and labour cost associated with such parts replacement for the same period from the date of original purchase.

12.2 The warranty herein extends only to the original purchaser of the new product. This warranty shall not apply to products purchased from anyone other than an authorized CMI dealer or\ products which have been subject to alterations, misuse or abuse, accident, neglect (such as extremes of temperature and / or moisture) or to wear resulting from normal use. This warranty is cancelled if any modification is made to the product or if any repair is carried out by a non-authorised repairer.

12.3 The Trade Practices Act and certain legislation of the states confer additional rights on persons who acquire goods and render the exclusion of modification of those rights ineffective. Except to the extent to which such legislation applies to the sale of this product, and the rights thereby conferred are rendered incapable of exclusion, this warranty supersedes and excludes all representation, conditions and warranties whether express or implied by law.

12.4 Vacuum Valves are excluded from this warranty, as they are covered by a 90-day limited warranty.

12.5 Product specification may change without prior notice.

12.6 In no event shall C.M.I. be liable for any consequential or incidental damage.

13.1 The granting of an account with CMI is conditional on the customer granting CMI permission to send information via Fax, Mail or Email on any Product and offers, Pricing and general Company information if and when it deems necessary.

The purchaser by placing an order with CMI acknowledges the following:
14.1 The company's terms of payment, are namely 30 days after the end of month and all charges shall be paid within these terms.

14.2  The Credit facilities may be withdrawn without notice.

14.3  All costs and disbursements incurred in recovering outstanding monies shall be borne by the debtor.

14.4  All charges relating to overdue accounts will be charged at the company's set rate.

14.5  It is understood that the creditor understand that the company at all times seek to comply with the relevant provision of the Commonwealth Privacy Act of 1988 and any other amendments thereto. The company may make any enquires it deems necessary to investigate the credit worthiness of the debtor, including enquires with banks, Accountants, other credit providers or credit reporting agencies.

All prices, specifications and images produced by the manufacturer and or CMI are subject to change without notice. It is recommended to confirm relevant details prior to confirmation of order.

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