Terms of Payment
1.1 Subject to any special terms agreed in writing between the buyer and the seller, the seller shall be entitled to invoice the buyer for the price of the goods on or at any time after delivery of the goods, unless the goods are to be collected by the buyer or the buyer wrongfully fails to take delivery of the goods, in which event the seller shall be entitled to invoice the buyer for the price at any time after the seller has notified the buyer that the goods are ready for collection (as the case may be) the seller has tendered delivery of the goods.
1.2 The buyer shall pay the price of the goods (less any discount to which the buyer is entitled, but without any other deduction) within 30 days of the date of the sellers invoice, notwithstanding that delivery may not have taken place and the property in the goods has not passed to the buyer. The time for payment of the price shall be the essence of the contract.
1.3 Where the goods are supplied for export from the United Kingdom, the buyer shall pay in sterling the full amount including any agreed shipping costs by bank transfer directly to the sellers bank account. The buyer must pay all bank charges for such a transaction - not doing so will delay export. On clearance of such funds and the receiving of relevant shipping information (See VAT), the goods will be released for export.

Orders and Specifications
2.1 The buyer shall be responsible to the seller for ensuring the accuracy of the terms of any order submitted by the buyer and for giving the seller any necessary information relating to the goods within sufficient time to enable the seller to perform the contract in accordance with its terms.
2.2 The quantity, quality and description of and any specifications for the goods shall be those set out in the seller's quotation (if accepted by the buyer) or the buyer's order (if accepted by the seller).

2.3 The seller reserves the right to make any changes in the specification of the goods which are required to conform with any applicable safety or other statutory requirements.
2.4 No order which has been accepted by the seller may be cancelled by the buyer except with the agreement in writing of the seller and on terms that the buyer shall indemnify the seller in full against all loss (including loss of profit), costs (including all cost of all labour and materials used), damages, charges and expenses incurred by the seller as a result of the cancellation.

Price of the Goods
3.1 The price of the goods shall be the seller's quoted price or, where no price has been quoted (or the quoted price is no longer valid), the price listed in the seller's price list current at the date of acceptance of the order. All prices quoted are valid for 30 days only or until earlier acceptance by the buyer, after which time they may be altered by the seller without giving notice to the buyer.

Bankruptcy
4.1 The intending purchaser acknowledges that before entering into any agreement or order for the purchase or delivery of any goods from Owen Developments (UK) Ltd, that he is deemed to have made a fresh representation on each and every occasion that he is not insolvent and has not committed any act of bankruptcy, or being a company with limited or unlimited liability, knows of no circumstances which would entitle any debenture holder to appoint a receiver, present a petition for the winding up of the company, or to exercise any other rights over or against his company's assets.

Risk
5.1 The goods ordered shall be at the risk of the intending purchaser as soon as they are delivered to his premises or otherwise to his order.

Title
6.1 All goods ordered shall remain the sole and absolute property of Owen Developments (UK) Ltd as legal and equitable owners until paid for in full.

Loss of Right Possession
7.1 The intending purchaser's right to possession of the goods pending payment shall cease immediately if he, not being a company, commits an act of bankruptcy or if, being a company, he does anything or fails to do anything which would entitle a receiver to take possession of any assets which would entitle any person to present a petition for the liquidation or winding up of the company. Further, Owen Developments (UK) Ltd is hereby authorised to enter upon any premises where goods are stored or where Owen Developments (UK) Ltd may reasonably think that may be stored for any action under this clause.

Cash Sales
8.1 Goods will only be released after payment has been made and funds cleared.

VAT
9.1 All sales in the UK will be subject to VAT and the prevailing rate. VAT will also be applied to European and Worldwide sales unless the appropriate regulations are applied with.

Warranty Against Manufacturing Defects
10.1 Without detriment to the purchaser's rights of law, all products sold will be investigated on an individual basis. Many, but not all products sold by Owen Developments (UK) Ltd are covered by a 12 month or 12000 mile (whichever is the soonest) against manufacturing defect warranty. There are no warranty provisions on any goods or products used in or related to Motorsport and associated activities.

Purchaser Claims
11.1 Any claim relating to goods delivered or supplied, must be made in writing promptly and in any event, within 48 hours of the event giving rise to the claim.

Authority to Waive or Alter Terms and Conditions
12.1 No one other than the Directors of Owen Developments (UK) Ltd has the right or authority to waive, alter or vary the Terms and Conditions of Business or make any claim or representation or transact any business at variance with them.

Disputes
13.1 All disputes or disagreements, which cannot be resolved by negotiation, will be settled by UK legislation. All legal matters will be dealt with in accordance with the law and statutes in the United Kingdom as directed by Owen Developments (UK) Ltd.