These Payment Terms and Conditions (“Agreement”) set forth the terms under which Precision UK (“Company,””we,””us,” or “our”) provides its services and products to the customer (“Customer,” “you,” or “your”). By engaging in any transaction with Precision UK you acknowledge and agree to the following terms:
- Ownership of Goods: Until full payment is received by Precision UK for the products and/or services provided, ownership of the goods shall remain with Precision UK.
- Payment Obligations: The Customer agrees to pay the total indicated on the invoice provided by Precision UK for the products and/or services received. Payment shall be made according to the terms specified on the invoice.
- Retention of Ownership: Ownership of the goods, including any products and parts provided, shall be retained by Precision UK until full payment is received. The Customer shall not acquire any ownership rights or title to the goods until the complete payment has been made.
- Title Transfer: Title and ownership of the goods shall only transfer to the Customer upon receipt of full payment for the products and/or services provided by Precision UK.
- Possession and Use: The Customer is permitted to possess and use the goods for their intended purpose while the payment is being completed. However, the Customer shall not transfer, sell, assign, lease, pledge or otherwise encumber the goods until full payment is received.
- Default and Remedies: In the event of non-payment or default on payment, Precision UK reserves the right to take appropriate legal actions to recover the outstanding amount. Precision UK may also reclaim the goods and the Customer agrees to cooperate fully in the return of said goods.
- Interest and Fees: Precision UK may charge interest, late fees or collection fees on overdue payment, as permissible by law. The Customer shall be responsible for any additional costs incurred due to late payment.
- Dispute Resolution: Any disputes regarding payment or ownership shall be resolved through negotiation, mediation, or legal proceedings, as deemed appropriate by Precision UK.
- Modification of Terms: Precision UK reserves the right to modify or update these Payment Terms and Conditions at any time. Any changes shall be communicated to the Customer through written notice.
- Governing Law: This agreement shall be governed by and construed in accordance with the laws of the jurisdiction in which Precision UK operates.
By accepting these Payment Terms and Conditions, the Customer acknowledges that they have read, understood, and agreed to the terms outlined herein. This Agreement constitutes the entire understanding between the parties regarding payment and ownership and supersedes any prior agreements and understandings, whether written or oral.
Contact us at email@example.com for questions relating to our payment terms and conditions.