Premiumall Instalment Plan Agreement

Premiummall Instalment Plan (PREMIUMMALL IP) Agreement

This document is a legal contract between you (“the Customer”) and us (“the Company”). You are bound by the terms and conditions of this Agreement (which may be modified from time to time) as soon as you have either transferred the deposit amount to the Company, received the merchandise or started using the services.

  1. INSTALMENT PURCHASE

1.1Subject to the terms and conditions of this Agreement, upon transferring to us the deposit amount for your purchase, you agree to pay the Instalment Purchase Price in Singapore Dollars by the specific number of Instalments which shall be charged to you (“the Instalment Plan”).

1.2 Premiummall, (“the Company”) shall accept the Instalment Plan if the Instalment Purchase Price is up to S$5,000 unless otherwise stated in a specified promotion.

1.3 Upon transferring to us a deposit amount for your purchase, you hereby irrevocably authorise the Company:

  1. to pay the Instalment Purchase Price to the merchant in full the amount stated in our marketing materials; and
  2. to pay an administrative fee of $20 or 2% (rounded up to the next $10) of the total Instalment Purchase Price, whichever is higher

1.4      All instalment plans under this agreement will be 60 days in duration. The Instalment Purchase Price will be communicated to the Customer via electronic communication, and payments will be split into the following schedule:

  1. First payment: A deposit upon confirmation of purchase;
  2. Second payment: To be made on the 30th calendar day upon paying the first payment
  3. Third payment: To be made on the 60th calendar day upon paying the first payment

1.5The Instalment payable will be reflected in the Invoice and shall be payable in accordance with the terms of the Agreement and the Instalment Plan. In particular, but without prejudice to the generality of the preceding sentence, any default of payments past the due date of payment, regardless of reason, would result in a forfeit of any deposit and partial payment paid to the Company, along with the Instalment Purchase. The reasons for default may include:

  1. Cancellation of order (or notice of cancellation has been given) by the Customer or the Company for any reason whatsoever;
  2. the Customer breaches any other provision of this Agreement, or any other agreements between the Company and the Customer; or
  3. the Customer is deceased, or bankruptcy petition is presented in relation to the Customer, or the Customer is unable to pay his debts as they fall due.

1.6     For the avoidance of doubt, the Instalment Plan and any agreements for each Instalment will end once when all the Instalment is paid.

1.7The Company, through electronic communication, may remind the customer near the payment due date. However, the onus falls on the customer to make payment to the company at the dates of payment schedule listed in 1.4 above, with  or without the reminders.

2. APPLICABLE TERMS

2.1     This Agreement covers your Instalment Purchase and you will continue to be bound by the terms and conditions of:

  1. any other agreements that you have with the Company.

In the event of inconsistency with any of the agreements above, this Agreement shall prevail in so far as it applies to the Instalment Purchase.

3. ACCELERATION/TRANSFER OF PAYMENT

3.1Notwithstanding anything contained in the Customer’s Agreement, this Agreement or any other document, the Company shall at all times have the right at its sole discretion to charge to you the Instalment Purchase Price if no Instalment has been charged or to charge any Instalments not previously charged to you in relation to the Instalment Purchase Price.

3.2The Customer may choose to repay the Company ahead of the 60 days payment schedule in Clause 1.4. However, in particular, and without prejudice to the generality of Clause 3.1, the Company may exercise its rights under Clause 3.1 if:

  1. Your order is cancelled (or notice of cancellation has been given) by the Customer or the Company for any reason whatsoever;
  2. the Customer defaults in the payment of any amounts due;
  3. the Customer breaches any other provision of this Agreement, or any other agreements between the Company and the Customer; or
  4. the Customer is deceased, or bankruptcy petition is presented in relation to the Customer, or the Customer is unable to pay his debts as they fall due.

3.3The Company reserves the right not to approve the transfer of any Instalment Plan from one Customer to another Customer with the Company.

4. EXCLUSION OF LIABILITY

4.1    For the avoidance of doubt, Customers should check and inspect the Instalment Purchase upon receipt. Any doubts or concerns should be raised to the Company within 24 hours (‘Notification Window’) of the receipt of the Instalment Purchase by the Customer, and any mutually agreed returns should be made within 3 working days (‘Returns Window’) at the Company’s office location in Jurong East. The Company will not be liable for any defective or damaged merchandise once the Notification Window or Returns Window has lapsed.

4.2    In the event of any breach or default of a term of this Contract, the Customer’s cumulative liability shall not exceed the Instalment Purchase Price.

4.3     In the event of any breach or default of a term of this Contract, the Company’s cumulative liability shall not exceed the Instalment Purchase Price.

5. GENERAL

5.1You shall indemnify and keep us fully indemnified against any loss, damage, liability, cost and expense which the Company may suffer or incur (including legal costs on an indemnity basis) arising out of or in connection with this Agreement, including but without limitation, the enforcement of the terms and conditions of this Agreement by the Company.

5.2You hereby give us your irrevocable consent to, at any time and without notice or liability disclose to any person as we may deem fit (including without limitation, any of our staff, agents, servants, correspondents, independent contractors and/or associates; any bank or financial institution; and any credit bureau recognised by the Monetary Authority of Singapore) such information of or relating to you whenever we consider it in our interest to make such disclosure.

5.3No forbearance or failure or delay by us in exercising any right, power or remedy is to be deemed to be a waiver or partial waiver on our part; and no waiver by us of any breach by you of this Agreement is to be treated as a waiver of any subsequent breach or of any other provision of this Agreement.

5.4The Company reserves the right to decline any application for the Instalment Plan.

5.5We may change the terms of this Agreement at any time and in such manner as we may decide with or without prior notice. We will inform you about any such changes by any means or manner as we may decide.

5.6This Agreement shall be governed by the laws of Singapore. Both parties hereby submit irrevocably to the non-exclusive jurisdiction of the Courts of Singapore.

6. DEFINITIONS

6.1In this Agreement, unless the context otherwise requires: –

Agreement – this agreement as may be varied from time to time.

Instalment – each instalment charged to the Customer on a monthly basis.

Instalment Purchase – any purchase of merchandise/services (which may be paid in Instalments) from the merchant.

Instalment Purchase Price – the full price of the Instalment Purchase.

Difference – the difference between the full retail price and the Instalment Purchase Price of the merchandise/services in the event that the Instalment Purchase Price cannot be divided into equal monthly Instalments.

We, us, our, the Company – Premiummall Pte Ltd

You, your, Customer – the person, partnership or company who has made a purchase from the Company:  Premiummall Pte Ltd

6.2Words importing the singular include the plural and vice versa.

6.3Words referring to the masculine also refer to the feminine and neuter gender.

6.4Reference to a person includes reference to a sole proprietor, partnership or company.

6.5Reference to a Clause is to a clause of this Agreement.

6.6The headings to the Clauses are for reference only and are not to be taken into consideration in the interpretation of this Agreement.

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