Unique Stock - Terms of Supply Policy
General Conditions
Throughout this policy, the terms “we”, “us”, “our” and “the Supplier” refer to Kreste Pty Ltd, while the term “the Purchaser” refers to the customer of Kreste Pty Ltd. Kreste Pty Ltd offers comprehensive uniform solutions and promotional merchandise with a mission to unite teams and build brands in doing so. In some circumstances, unique and/or custom stock is required by the Purchaser to be held in stock by the Supplier. A written agreement between the Purchaser and the Supplier is often put in place outlining the specific terms that relate to the particular unique stock. However, in the absence of a written agreement, the below terms of supply apply to all instances of unique stock requests by the Purchaser. By engaging with our products and/or services whether through direct purchase or through design collaboration with a view to the end user making a purchase, you agree to the below terms of supply as well as any other conditions that are publicly available on our website (www.kreste.com.au).
Definition of Unique Stock
Refers, but is not limited to, items that bear the Purchaser’s specific logo, branding or labelling, or a made from a unique fabric that is specific to the Purchaser. Unique stock is either made or stocked specifically for the Purchaser and is not saleable to other parties.
Stock Levels
Unique stock that is specifically designed and created to suit the Purchaser, is often subject to minimum order quantities for the Supplier when procuring the items from manufacturers. For this reason, initial stock held may be slightly inflated in comparison to the need, likewise following replenishment. Hence, it is imperative for the Purchaser to maintain consistent communication and work in closely with the Supplier so changes to designs are made at optimal times for both parties. The Supplier will maintain an adequate level of stock to meet the requirements of the Purchaser.
Warranties
The Supplier warrants to the Purchaser that all unique stock items are of merchantable quality and comply with all applicable laws and standards. The Supplier will not vary the design, specification or price of the items without first providing written advice to the Purchaser with at least 30 days notice.
Design Changes
If changes to the original item design or specification are desired, at least 12 months written notice must be given by the Purchaser to the Supplier. A shorter notice period may be accepted if agreed on by both parties.
Product Termination
If at any stage the Purchaser decides they no longer require a unique stock item, they must notify the Supplier in writing, giving a notice period of at least 12 months. The notice period is required to allow adequate time for stock holdings to diminish. At the end of the 12 month period, the Purchaser is liable to pay the costs of the remaining stock as per the buyback stock conditions outlined below. Furthermore, a product will be considered obsolete if no sales of the product have occurred within a 12 month period, even if no written notification from the Purchaser has been received. The Supplier will contact the Purchaser to advise of any obsolete products. The Purchaser will be liable to pay the costs of any products considered obsolete by the Supplier as per the buyback stock conditions outlined below.
Buyback of Unique Stock
The Purchaser will purchase any Unique Stock items identified by the Supplier at the termination of supply, or in the event of changes to the design or specification of the items and/or if a product has been considered obsolete. The price the Purchaser is to pay for the buyback stock is set as the standard price that was being paid, with a discount of 20%. Payment is required to be made within 30 days of the items being invoiced to the Purchaser.