Credit Accounts

We can help business and trade customers manage their cash flow by offering interest-free credit accounts with flexible payment terms, subject to application and status.

We are also able to accept local authority and public sector purchase orders subject to approval.

Full terms and conditions for our credit accounts are shown below.

Credit Account terms and Conditions

Risk & title

All goods are supplied to the customer by Symphony Textiles Limited on the following terms:

1.1 The goods shall remain the sole and absolute property of Symphony Textiles Limited as legal and equitable owner until such time as all sums due to Symphony Textiles Limited from the customer, whether in respect of the goods or other goods or services, have been paid in full. 1.2 Until such payment the customer shall be in possession of the goods solely as bailee for Symphony Textiles Limited and shall store the goods separately in such a way as to enable them to be identified as the property of Symphony Textiles Limited. 1.3 Symphony Textiles Limited reserves the immediate right at any time of re-possession of any goods to which it has retained title and thereafter to re-sell the same and for this purpose the customer hereby grants an irrevocable right and licence to Symphony Textiles Limited's employees and agents to enter at any time upon all or any of its premises with or without vehicles during normal business hours. This right shall continue to subsist notwithstanding the termination of the contract for any reason and is without prejudice to any accrued rights of Symphony Textiles Limited hereunder or otherwise. 1.4 As a separate and independent condition, the customer shall be at liberty and may in the ordinary course of its business sell and deliver the goods to any third party as Symphony Textiles Limited's bailee provided that the entire proceeds of sale are held in trust for Symphony Textiles Limited in a separate bank account and shall at all times be identifiable as Symphony Textiles Limited's moneys. The customer agrees immediately upon being so requested by Symphony Textiles Limited to assign to Symphony Textiles Limited all rights and claims which the customer may have against its customers arising from such sales until payment is made in full as aforesaid 1.5 Whilst the goods remain the property of Symphony Textiles Limited, the customer shall insure the goods against all usual risks for an amount equal to or greater than the purchase price and hold the proceeds of such insurance on trust for Symphony Textiles Limited.

Payment 2.1 Unless otherwise agreed in writing all Symphony Textiles Limited's accounts shall be paid in full without any deduction whatsoever by the last day of the month following the month of invoice, and all monies received by Symphony Textiles Limited shall be applied to accounts outstanding in Symphony Textiles Limited's books by order of age (starting with the oldest).

2.2 Without prejudice to all other rights and remedies in respect of overdue invoices and/or accounts Symphony Textiles Limited shall be entitled: 2.2.1 To interest on all overdue sums, accruing from the date when payment becomes due, at a rate of 2% per month and shall accrue at such a rate after as well as before any judgement. 2.2.2 To withhold or suspend delivery of any order or part of an order and invoice the customer for the reasonable costs of storing the goods (whether at Symphony Textiles Limited's premises or otherwise) from the due date of payment until receipt of payment.

Change Of Control 2.3 The customer shall forthwith notify Symphony Textiles Limited in writing, to be sent by recorded delivery, upon the occurrence of any of the following events: - 2.3.1 Any change in the ownership, management or control of the customer; 2.3.2 Any sale or transfer of a material part of the customer's undertaking or assets; 2.3.3 If the customer, being sole trader, enters into partnership with others; 2.3.4 If the customer, being a sole trader or a partnership, becomes incorporated or becomes amalgamated with others. 2.4 Upon the occurrence of any of the events listed in clauses 2.3.1 To 2.3.4 any existing credit account facilities granted by Symphony Textiles Limited to the customer shall automatically terminate and the account balance shall be payable in full forthwith.

Joint And Several Liability 2.5 Should the customer fail to notify Symphony Textiles Limited of the occurrence of any of the events listed in 2.3.1 - 2.3.4 Above the customer shall be jointly and severally liable to pay all sums due to Symphony Textiles Limited in respect of goods and/or services supplied to the changed entity until the date that written notice is received by Symphony Textiles Limited. 2.6 The customer shall be jointly and severally liable for all sums due to Symphony Textiles Limited in respect of goods and/or services supplied to any individual, partnership or other legal entity that makes use of the customer's credit account facility. 2.7 Any allowance or grant of credit account facilities following such event shall be in Symphony Textiles Limited's sole discretion and only deemed undertaken by Symphony Textiles Limited if a written acknowledgement and acceptance is issued by Symphony Textiles Limited's managing director or accounts manager.

Termination and suspension 3.1 Symphony Textiles Limited may (without prejudice to its other rights or remedies) terminate or suspend Symphony Textiles Limited's performance of the whole or any outstanding part of the contract in the circumstances described in clause 3.2. Symphony Textiles Limited may also suspend deliveries while investigating any claim relating to prior deliveries (under any contract) of goods. 3.2 The relevant circumstances are if: 3.2.1 The customer fails to take delivery of or to pay for the goods on the date required under clause 2.1 Or breaches any other term of contract, or if the customer is late in payment or performance under or otherwise breaches any other contract for the sale and purchase of goods or services between the customer and Symphony Textiles Limited: or 3.2.2 The customer becomes bankrupt or insolvent or if a receiver or encumbrancer takes possession of any material part of the customer's assets, or the customer suffers any foreign equivalent of the foregoing: or 3.2.3 Symphony Textiles Limited has reasonable grounds for suspecting that an event in clause 3.2.4 Has occurred or will occur, or that the customer will not pay for the goods on the due date, and so notifies the customer.