1. Payment: The Customer must pay for all Products and Services supplied by Allied Beef prior to delivery or within any credit period specified by Allied Beef. Unless specified otherwise, each amount payable by the Customer under these Terms is exclusive of GST. 2. Interest: If payment is not received by Allied Beef by the due date specified by Allied Beef, the Customer must pay interest on all amounts owing at the rate charged from time to time by Allied Beef on similar accounts. The interest will accrue daily from the Invoice date to the date payment is made in full. 3. Withdrawal or Variation of Credit: Allied Beef may at any time, without reason, vary or withdraw any credit granted to the Customer. 4. Property: (a) Title and property in the Products passes to the Customer only once paid for in full. Risk in the Products passes to the Customer at the time of delivery. (b) Until paid for in full, the Customer holds the Products as bailee for Allied Beef and must keep them physically separate from all other goods of the Customer and clearly identified as owned by Allied Beef. (c) If an Event of Default occurs, then without prejudice to Allied Beef’s other rights, Allied Beef may without notice to the Customer enter any premises occupied by the Customer or any other place where the Products may be and recover possession of them. (d) If the Customer sells any of the Products while money is owed to Allied Beef, the Customer must keep the proceeds of the sale in trust for Allied Beef. (e) If the Customer uses the Products in some farming, manufacturing or construction process of its own or of a third party, then the Customer shall hold such part of the proceeds of such process as relates to the Products in trust for Allied Beef. (f) If the Products are resold, or goods using or reselling the Products are grown or manufactured and resold by the Customer, the Customer holds all of the book debts owed in respect of such sales and proceeds of such sales in trust for Allied Beef. (g) Any monies held on trust for Allied Beef must be immediately paid to Allied Beef and receipt of such payment is not a waiver to recover the full amounts owing to Allied Beef. 5. Buy and sell authority: (a) If by agreement between Allied Beef and the Customer, Allied Beef is appointed to sell any of the Products, as agent for the Customer or otherwise, then Allied Beef is authorised to collect, receive and hold the proceeds of sale of the Products as agent for the Customer and is irrevocably and unconditionally authorised to deduct from such proceeds any costs and expenses incurred in relation to the sale of the Products or any other amounts owed by the Customer to Allied Beef, including agreed fees / brokerage. (b) Allied Beef is authorised to buy Products on behalf of the Customer if requested to do so by the Customer. (c) Allied Beef is also authorised to arrange and manage backgrounding or finishing services, including lot feeding, or any other services requested from time to time by the Customer. (d) The Customer agrees to pay Allied Beef the amount invoiced by Allied Beef for the acquisition of any Products and for the fees / brokerage for the provision of such services within seven days of invoice or such other term agreed between the Customer and Allied Beef. 6. PPSR: As security for payment to Allied Beef of all moneys payable by the Customer, the Customer grants a security interest in favour of Allied Beef. The Customer irrevocably appoints each Officer as its attorney to do all things necessary to register each such security interest. Allied Beef may, at any time, register a financing statement with respect to any security interest arising out of or evidenced by the agreement between Allied Beef and the Customer that is governed by these Terms, or any other document, over any of the Products or assets of the Customer that are personal property. The Customer agrees these security interests will be purchase money security interests. The Customer waives any right or entitlement to receive notice of the registration of any security interest. If Chapter 4 of the Personal Property Securities Act 2009 (PPSA) would otherwise apply to the enforcement of any security interest constituted by these Terms, the Customer and Allied Beef agree, to the extent permitted by section 115 of the PPSA, that the following provisions of the PPSA will not apply to the enforcement of those security interests: (a) section 95 to the extent it requires Allied Beef to give a notice to the Customer, (b) section 118 to the extent that it allows Allied Beef to give a notice to the Customer, (c) section 130 to the extent it requires Allied Beef to give a notice to the Customer, (d) sections 121(4), 125, 132(3)(d), 132(4), 136(5) 142 and 143 and (e) any other provision of the PPSA notified to the Customer by Allied Beef after the date of these Terms. 7. Suspension or Ceasing Supply: (a) Allied Beef, in its complete discretion and without incurring any liability to the Customer may: cease or suspend supply of Products or Services to the Customer; and/or vary or withdraw any credit granted to the Customer. (b) Without limiting clause 7(a), if an Event of Default occurs Allied Beef may, without prejudice to or limiting its other rights, call up monies owed to it by the Customer, retain all monies paid on account, cease further deliveries or Services and recover from the Customer all loss of profits arising therefrom, sue for damages and/or take immediate possession of any Products not paid for or that are subject of Services performed. 8. Liability of Allied Beef: Allied Beef will not be liable for any loss or damage whatsoever suffered by the Customer as a result of any act, omission or statement made by Allied Beef, its employees, contractors or agents whether negligent or not. However, nothing in these Terms limits any liability imposed by statute unless or to the extent that it is lawful to do so. 9. Allied Beef’s Conduct: Allied Beef’s acceptance of payment, or delay or failure to act, shall not prejudice its right to exercise any enforcement action or remedy against the Customer. 10. Notification of Change: Where there is any change to the Customer’s trading or management structure including a change of director, majority shareholder, change in partnership or trustee), the Customer shall cease to operate its credit account unless with Allied Beef’s prior written consent. 11. Variation of Terms: Allied Beef has the right to vary these Terms at any time by notice to the Customer and if the Customer has not given notice of objection to those varied terms within 7 days, they will be deemed to form part of this document.12. Effect of Other Terms: No express or implied terms issued by the Customer or otherwise apply to the agreement between the Customer and Allied Beef in relation to these Terms. 13. Expenses: The Customer must pay to Allied Beef all costs, charges and expenses (including all stamp duty and legal fees on an indemnity basis) incurred by Allied Beef in connection with entry into these Terms, the exercise or attempted exercise of any power, right or remedy under these Terms, and the failure of the Customer to comply with these Terms. 14. Set off: Allied Beef may in its absolute discretion set off any credits in the Customer’s account with Allied Beef against any amounts owed by the Customer to Allied Beef. 15. Trusts: If the Customer is a trustee of a trust, or agrees to these Terms as trustee of a trust, then these Terms bind the Customer both personally and as trustee of any such trusts. 16. Severance: Any part or all of a clause that is invalid or ineffective, may be severed from these Terms and the remaining part and clauses will continue in force. 17. Transfer of rights: Allied Beef may transfer its rights under these Terms to a third party. These Terms will apply to a transferee as if it were Allied Beef. Allied Beef may give the proposed transferee all information allowed by privacy legislation. 18. Application of Laws: The parties submit to the non-exclusive jurisdiction of the Courts of the State of Queensland. 19. Recipient Created Tax Invoices (RCTI): A Customer who is a livestock operator agrees that: (a) Allied Beef may generate RCTIs in respect of the supplies where it deems it appropriate to do so; (b) they will not issue tax invoices in respect of supplies where Allied Beef has generated or may generate a RCTI; and (c) the Customer is registered for GST purposes and that Allied Beef will be notified if such registration ceases. 20. Definitions: In these Terms unless the context requires otherwise: (a) “Customer” means the person or corporation named as the "account holder" on the application to which these Terms are attached or are accompanied by and to whom Allied Beef supplies Products or Services; (b) “Event of Default” means any of the following events: (i) the Customer fails to pay for the Products or Services; (ii) the Customer is in breach of these Terms; (iii) if the Customer is a company: an order is made or a resolution is effectively passed for winding up of the Customer; the Customer resolves to appoint or appoints a receiver, provisional liquidator or administrator; the Customer goes into liquidation; the Customer stops payment or is deemed unable to pay its debts within the meaning of the Corporations Act 2001; if the Customer is a natural person, an order is made for the Customer’s bankruptcy, the Customer dies or becomes mentally or physically incapable of managing his or her affairs or an order is applied for or made to place the assets and affairs of the Customer under administration; or the Customer ceases or threatens to cease carrying on business; (c) “Officer” means each director, secretary, manager and authorised representative of Allied Beef; (d) “Allied Beef” means Allied Beef Group Pty Ltd ACN 151 578 102, Allied Beef Pty Ltd ACN 128 967 895, Allied Beef Cattle Pty Ltd ACN 140 753 797, Allied Farms Pty Ltd ACN 608 224 693, Allied Markets Pty Ltd ACN 604 280 264, Allied Beef Management Pty Ltd ACN 144 820 824 and the “related bodies corporate” (as that phrase is defined in the Corporations Act 2001) of any of them; (e) “Products” means all goods supplied by Allied Beef to the Customer; (f) “Services” means any services supplied by Allied Beef to the Customer (g) “Terms” means these general terms and conditions.