TRADE ACCOUNT — STANDARD GUARANTEE TERMS
These Standard Guarantee Terms apply to all trade credit accounts opened with Huxhal Limited trading as Sinopec Online where a guarantee has been provided as part of the Trade Account Application.
1. Definitions
"Company" means Huxhal Limited trading as Sinopec Online, registered in England and Wales (Company No. 15677202, VAT No. GB 476604371), whose registered office is at 86-90 Paul Street, London, EC2A 4NE.
"Buyer" means the business named in the Trade Account Application.
"Guarantor" means the person(s) who have signed the Trade Account Application guarantee section.
"Guaranteed Obligations" means all monies, debts and liabilities of any nature from time to time due, owing or incurred by the Buyer to the Company, including those under or in connection with any present or future credit facilities provided by the Company to the Buyer.
2. Guarantee
a. Where any person(s) enter into the guarantee section of the Trade Account Application, these Standard Guarantee Terms shall apply.
b. This Guarantee shall at all times be a continuing security and shall cover the ultimate balance from time to time owing to the Company by the Buyer in respect of the Guaranteed Obligations.
c. The liability of the Guarantor shall not be reduced, discharged or otherwise adversely affected by: (i) any act, omission, matter or thing which would not have discharged or affected the liability of the Guarantor had it been a principal obligor instead of a guarantor; or (ii) any other act or omission except an express written release by deed of the Guarantor by the Company.
d. The Company shall not be obliged, before enforcing any of its rights or remedies under this Guarantee, to take any action against the Buyer or another person.
e. This Guarantee is in addition to and shall not affect or be affected by or merge with any other judgment, security, right or remedy obtained or held by the Company from time to time for the discharge or performance of the Guaranteed Obligations.
f. Notwithstanding any valid notice of termination, the liability of the Guarantor shall continue in full force and effect in relation to all Guaranteed Obligations which: (i) have become due on or before the Termination Date; and (ii) may become due, owing or incurred by the Buyer to the Company before, on or after the Termination Date under any commitment, expressed or implied, assumed or undertaken by the Company to the Buyer before the Termination Date.
g. The Guarantor as principal obligor and as a separate and independent obligation and liability agrees to indemnify and keep indemnified the Company in full and on demand from and against all and any losses, costs (including legal costs), claims, liabilities, damages, demands and expenses suffered or incurred by the Company arising out of or in connection with the Guaranteed Obligations becoming irrecoverable for any reason or any failure of the Buyer to perform or discharge any of its obligations or liabilities in respect of the Guaranteed Obligations.
h. The Company may at any time assign, transfer or deal in any other manner with any or all of its rights under this Guarantee.
3. Governing Law
These Standard Guarantee Terms are governed by and construed in accordance with the laws of England and Wales. The parties submit to the exclusive jurisdiction of the courts of England and Wales.
4. Further Information
For any queries regarding these terms please contact accounts@sinopeconline.com or call +44 020 8068 3444.
NOTICE
Huxhal Limited, trading as Sinopec Online
Registered in England and Wales
Company number: 15677202
Registered office: 3rd Floor, 86-90 Paul Street, London, EC2A 4NE, United Kingdom
VAT number: GB476604371
Email: office@huxhal.com
Telephone: +44 20 8068 3444