We have recently reviewed our terms and conditions for account holders and this letter is an update for your information. You will also note a change to our statements due to our introduction of a new accounting programme.
From 1st September 2011 the terms and conditions attached to this letter will apply to all accounts held with Why Buy New and Guncity, Timaru. That will include accounts created or held before 1st September 2011, although the terms and conditions themselves only apply from 1st September 2011.
If you have any questions, please be sure to contact the staff at Why Buy New. In the meantime, we look forward to our continued business together.
A further change to note is the introduction of an administration fee to cover the ongoing cost of account management. This is set at $1.73 per week on your account or $7.50 per month.
Account Holder Terms and Conditions
- These terms and conditions only apply to goods purchased or being purchased that are not the subject of a loan or other credit facility through Why Buy New’s finance company, Forward Finance Limited.
- You can complete payments at any time, in full with no penalties incurred.
- You may allow another person to take over your part of this agreement if we agree. We may not refuse to agree without good reason. The other person will then take over all your rights and duties under this agreement, including making the payments.
- You must keep the goods in good condition. You must not change them or take them to pieces. You must tell us before you change the place where the goods are usually kept or stored. Whenever we ask you where the goods are you must tell us right away.
- You are not permitted to pledge security over the goods and you are not entitled to lend or sell the goods, or in any other way part with possession of them. You are required to keep the goods in reasonable condition having regard to age, reasonable wear and tear, and the condition of the goods at the time you took possession of and the use for which the goods are designed.
- Your right to possession of the goods ends and is revoked at any time you do not meet your account holder obligation as they fall due and as agreed at the time you purchased the goods. For example, if you stop making the agreed payments in reduction of your account balance your right to possess the goods ends at that time. Any breach of your account holder obligations will have that effect.
- Whatever you buy and pay for through an account with us remains our property until you have paid the full purchase price and any fees charged for use of the account during that time.
- Payment defaults will result in a penalty of $5.00 per $20.00 payment of the payment not paid.
- If your right to possess the goods is revoked or ends, you will be given a reasonable time to make good the breach. A notice will be sent to the place stated by you as your address at the time of purchase. If you have moved and not told us of your new address, or if for some other reason, you claim not to have received the notice, it will still be effective if it was sent to the address you gave us. At the end of the time stated in the notice for remedying the breach your right to possess the goods ends and that right of possession reverts to Why Buy New.
- Should letters need to be sent to you regarding payment defaults, these will incur costs as follows:
- A reminder letter fee $10.00 for each reminder letter.
- A warning letter fee $20.00 for each warning letter.
- A default notice fee of $45.00 for each demand or enforcement letter.
- Once you have paid as stated above, you own the goods and you may do as you like with them. If, in the meantime, you purchase other goods from us so that your account balance increases, we will apply the payments you make to the goods you purchased first.
- Once you lose the right to possess the goods, we are entitled to take the goods back from you. We will not do this if there is a reasonable alternative, for example you may ask us for a payment holiday, reduced payments or agree with us on some other course of action. However, that depends on what is reasonable and fair and in the end, we reserve the right to take the goods back if you are in breach and repossession is the best course of action for us.
- It is a condition of holding an account with us that in doing so, you consent to our entry onto your premises, or any place you are the occupier or have control over for the purpose of taking possession of the goods from you. By holding an account with us you are consenting us having a licence to enter any such place solely for that purpose, as well as your consent to use any reasonable force we need to use to gain entry; for example we may need to bring a locksmith with us, or use some other method of entry to open a door or window to reach the goods. If that happens we will do our best not to cause unnecessary damage, but we are not liable for reasonable damage necessary and you will be liable for all our reasonable costs in taking back possession of the goods.
- Where we take back possession of the goods, you will be able to remedy the breach and make payment to clear your account balance and other costs you are liable for. If you do not do that within a reasonable time, we will sell the goods to recover what you owe us, which will include any costs of storage and sale. If the sale proceeds are insufficient, you will owe us the balance. If the sales proceeds cover what you owe us, we will pay the balance to you.
- By taking possession of goods from us you are agreeing that you have inspected them and satisfied yourself that the goods are of acceptable quality, in a condition and of an age commensurate with the price; you accept you are taking the goods in a condition that is acceptable to you and that is adequate for the purpose or use you intend for the goods.
- Should your account accumulate a credit balance all funds are to be used to purchase goods from Why Buy New of Gun City and no cash refunds will be allowed. At the start of a credit balance, you will be contacted by phone or letter advising your options of either
- Stopping payments
- Maintaining payments to accumulate credits to purchase goods in store
- You can contact your newest community Law Centre, Citizens Advice Bureau, Consumer Complaints Service of the Ministry of Consumer Affairs, or a Lawyer, for any information or help.
Wayne S Golightly
Manager