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Thread: Can a supplier change prescribed period?

  1. #1
    Diamond Member Justloadit's Avatar
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    Can a supplier change prescribed period?

    While looking through a credit application, I found the following statement :-


    The Customer expressly agrees that any debt owed to the Supplier by the Customer shall become prescribed only after
    the passing of a period of ten years from the date the debt falls due.
    Can this over ride common law?
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
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    I don't know the legal answer, but if a supplier felt the need to put something like that in their contract, it would get my alarm bells ringing.

    Can you imagine them dredging out a 10 year old invoice that had gone missing and "unpaid", and now you trying to have to find the contrary payment evidence in your archives? No thanks. Just sounds dodgy to me.

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    Site Caretaker Dave A's Avatar
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    AFAIK prescription is statutory law.

    Personally I'd draw a line through it - 3 years is long enough!
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    Diamond Member Justloadit's Avatar
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    Thanks guys, this is just one of the clauses, there is a string of them for all sorts of things, even to the point that if they take you to court, you must provide a R5K deposit into their lawyers account, another was they wanted my audited books, and other such non sense. I politely told the supplier, that I am not interested in his account, and will be looking elsewhere. Right now COD is better for me anyway as and when I need it.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Quote Originally Posted by Justloadit View Post
    You must provide a R5K deposit into their lawyers account
    What a beauty. Why don't they just say, "we don't open credit accounts" and cut through all this BS. I'd have a major issue with a company that was so focused on creating a one sided contract. Do they have similar one sided deals for pricing, product service, etc?

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