Credit Account Terms and Conditions
Elevate Tech Limited Registration Number: 2025/742289/10 VAT/Tax Number: 9860279190 Website: https://store.elevatetech.biz Support Email: support@elevatetech.biz Information Officer: Wade Wareing — wade@elevatetech.biz
Effective Date: 3 June 2026 Version: 1.0
1. Introduction
1.1 These Credit Account Terms and Conditions ("Credit Terms") govern the trade credit facility (the "Credit Account") that Elevate Tech Limited ("Elevate Tech", "we", "us" or "our") may, in its sole discretion, extend to an approved business customer (the "Account Holder" or "you").
1.2 These Credit Terms form part of, and must be read together with, our Terms and Conditions of Sale and Website Use and the other policies incorporated by reference into them. In the event of a conflict between these Credit Terms and the Terms and Conditions of Sale and Website Use in respect of credit matters, these Credit Terms prevail.
1.3 A Credit Account is available only to business customers who are approved by Elevate Tech following a credit assessment. The grant of a Credit Account is a privilege, not a right, and is subject to these Credit Terms.
2. Definitions
2.1 In these Credit Terms:
"Application" means an application for a Credit Account submitted to Elevate Tech;
"Credit Limit" means the maximum amount of credit that Elevate Tech approves for the Account Holder from time to time;
"Due Date" means the date by which payment of an invoice must be received by Elevate Tech, as stated on the invoice or in the approved account terms;
"Payment Terms" means the period within which invoices must be paid, as approved by Elevate Tech (for example, strictly net of any deduction within a stated number of days of statement or invoice date);
"SAP Business One" means the enterprise resource planning system through which credit facilities may be administered;
"Surety" means any person who binds themselves as surety and co-principal debtor for the obligations of the Account Holder.
3. Application and Approval
3.1 To open a Credit Account, you must submit a complete Application together with all supporting documentation we require, which may include: company registration documents, VAT registration, identity documents of directors or members, proof of business address, bank details, financial information, and trade references.
3.2 By submitting an Application, you:
(a) warrant that all information provided is true, accurate and complete; (b) authorise Elevate Tech to verify the information and to conduct credit checks, including obtaining information from credit bureaux and trade references; (c) consent, and procure the consent of relevant individuals, to the processing of personal information for the purposes of assessing and administering the Credit Account, in accordance with our Privacy Policy; and (d) acknowledge that approval is at our sole discretion.
3.3 Elevate Tech may approve or decline an Application without giving reasons, and may impose conditions, a Credit Limit and Payment Terms. Certain qualifying customers may receive credit facilities administered through SAP Business One.
3.4 Approval is communicated in writing. Until approval is granted, all Orders must be paid for in accordance with the standard payment provisions of the Terms and Conditions of Sale and Website Use.
4. Nature of the Facility and the National Credit Act
4.1 The Credit Account is a trade credit facility extended between businesses. The parties record that the facility is intended to fall outside the scope of the National Credit Act 34 of 2005 ("NCA"), to the extent that the Account Holder is a juristic person whose asset value or annual turnover equals or exceeds the threshold determined under the NCA, or where the transaction is otherwise excluded from the NCA.
4.2 Where, and to the extent that, the NCA nevertheless applies to the facility, these Credit Terms must be read subject to the NCA, and any provision inconsistent with a right conferred by the NCA applies only to the extent permitted by the NCA. The remaining provisions continue to apply.
5. Credit Limit
5.1 Elevate Tech sets, and may review, increase, reduce, suspend or cancel, the Credit Limit at any time in its sole discretion, on reasonable notice where practicable.
5.2 You must not exceed the Credit Limit. Elevate Tech may decline to process or release any Order that would cause the Credit Limit to be exceeded, or that would result in an overdue balance.
5.3 The available credit at any time is the Credit Limit less the total of all unpaid invoices and any Orders in progress.
6. Payment Terms
6.1 Unless otherwise agreed in writing, all invoices are payable strictly in accordance with the approved Payment Terms, free of any deduction, set-off or withholding.
6.2 Payment must be made by electronic funds transfer to the bank account nominated by Elevate Tech, or by another method approved by us, in South African Rand (ZAR). Payment is regarded as received only once the funds reflect as cleared in our account.
6.3 You must quote the relevant invoice or account reference with each payment and, on request, provide remittance advice.
6.4 Any amount not paid by its Due Date is overdue. Time for payment is of the essence.
7. Statements and Queries
7.1 Elevate Tech issues statements reflecting the transactions on the Credit Account. You must examine each statement and notify us in writing of any disputed item within 7 (seven) Business Days of the statement date. In the absence of a timeous query, the statement is regarded as correct, save for manifest error.
7.2 A query on a specific item does not entitle you to withhold payment of undisputed amounts, which remain payable by their Due Date.
8. Ownership and Risk
8.1 Notwithstanding delivery, ownership of all Goods supplied on credit remains vested in Elevate Tech until the full purchase price of those Goods, and all other amounts owing on the Credit Account, have been paid in full. Risk passes to the Account Holder on delivery.
8.2 Until ownership passes, the Account Holder must store the Goods in a manner that enables them to be identified as the property of Elevate Tech, must keep them insured, and must not encumber, dispose of or part with possession of them other than in the ordinary course of business. Elevate Tech may, on default, retake possession of any such Goods, and the Account Holder grants Elevate Tech (and its representatives) the right to enter any premises where the Goods may be to recover them.
9. Default
9.1 An event of default occurs if:
(a) any amount is not paid by its Due Date; (b) the Account Holder breaches these Credit Terms or the Terms and Conditions of Sale and Website Use and fails to remedy the breach within 7 (seven) Business Days of written notice; (c) the Account Holder commits an act of insolvency, is placed under business rescue, is provisionally or finally liquidated or sequestrated, or is deregistered; (d) any judgment is taken against the Account Holder and remains unsatisfied; (e) the Account Holder ceases or threatens to cease carrying on business; or (f) any representation or warranty made in connection with the Credit Account is found to be untrue or misleading.
9.2 On the occurrence of an event of default, Elevate Tech may, without prejudice to any other right:
(a) suspend or cancel the Credit Account and the Credit Limit; (b) suspend or cancel any pending Orders; (c) declare all amounts owing on the Credit Account (whether or not yet due) immediately due and payable; (d) withhold further deliveries until all overdue amounts are paid; (e) retake possession of Goods to which Elevate Tech retains ownership; and (f) institute legal proceedings to recover all amounts owing, together with interest and costs.
10. Interest, Costs and Allocation
10.1 Interest is payable on all overdue amounts at the maximum rate permitted by applicable law, calculated daily and compounded monthly from the Due Date until payment in full, both before and after judgment.
10.2 The Account Holder is liable for all costs incurred by Elevate Tech in recovering any amount owing, including collection commission, tracing fees and legal costs on the attorney-and-own-client scale, to the maximum extent permitted by law.
10.3 Elevate Tech may allocate any payment received to such amounts owing as it determines, notwithstanding any allocation purported by the Account Holder.
11. Suretyship
11.1 Where required by Elevate Tech as a condition of approval, one or more directors, members, shareholders or third parties must sign a deed of suretyship binding themselves as surety and co-principal debtor, jointly and severally, for all amounts owing by the Account Holder. The terms of any such suretyship are recorded in a separate written document and supplement these Credit Terms.
12. Set-Off
12.1 Elevate Tech may set off any amount owing by the Account Holder against any amount owing by Elevate Tech to the Account Holder. The Account Holder is not entitled to set off or withhold any amount.
13. Personal Information and Credit Reporting
13.1 The Account Holder consents, and procures the consent of relevant individuals, to Elevate Tech processing personal information for the purposes of assessing, granting, administering, monitoring and enforcing the Credit Account, in accordance with our Privacy Policy and POPIA.
13.2 The Account Holder consents to Elevate Tech sharing information with credit bureaux and trade references, including information regarding the conduct of the Credit Account and any default, to the extent permitted by law.
14. Changes to the Credit Account
14.1 Elevate Tech may amend these Credit Terms, the Credit Limit and the Payment Terms from time to time. Material changes will be communicated to the Account Holder. Continued use of the Credit Account after notification of a change constitutes acceptance of the change. The current version of these Credit Terms is published on the Website with a revised "Effective Date" and "Version".
15. Termination
15.1 Either party may terminate the Credit Account on written notice. Elevate Tech may terminate or suspend the Credit Account immediately on an event of default or where it reasonably considers that continued credit poses a risk.
15.2 On termination, all amounts owing become immediately due and payable. Termination does not affect accrued rights and obligations, and the provisions relating to ownership, default, interest, costs and suretyship survive termination.
16. General
16.1 Cession. The Account Holder may not cede or assign any rights or obligations under the Credit Account without our prior written consent. Elevate Tech may cede or assign its rights, including its right to claim payment.
16.2 Domicilium. The Account Holder chooses the physical address recorded on its account as its address for the service of legal notices and process (domicilium citandi et executandi), and must notify us in writing of any change.
16.3 Whole agreement. These Credit Terms, together with the Application, any suretyship, and the Terms and Conditions of Sale and Website Use, constitute the whole agreement relating to the Credit Account.
16.4 Severability and waiver. Each provision is severable, and no indulgence granted by Elevate Tech constitutes a waiver of its rights.
17. Dispute Resolution
17.1 Subject to Elevate Tech's right to institute proceedings for the recovery of amounts owing and for urgent or interim relief, any dispute arising from these Credit Terms is subject to the dispute resolution provisions of our Terms and Conditions of Sale and Website Use (negotiation, then mediation, then arbitration in Cape Town under AFSA rules).
17.2 Elevate Tech may, at its election, institute proceedings for the recovery of any amount owing, or for any other relief, in any Magistrate's Court having jurisdiction, notwithstanding that the amount or matter may exceed the jurisdiction of that court, or in the Western Cape Division of the High Court.
18. Governing Law
18.1 These Credit Terms are governed by and construed in accordance with the laws of the Republic of South Africa.
19. Contact Details
For queries relating to a Credit Account or to apply for one, please contact:
- General support / accounts: support@elevatetech.biz
- Information Officer: Wade Wareing — wade@elevatetech.biz
- Address: 24 Price Drive, Constantia, Cape Town, Western Cape, 7806, South Africa
These Credit Account Terms and Conditions should be read together with the Terms and Conditions of Sale and Website Use and the Privacy Policy. The grant of a Credit Account is subject to credit assessment and approval at the sole discretion of Elevate Tech Limited.