Terms and Conditions of Credit

These terms and conditions of credit (Terms of Credit) are between Advanced Navigation Pty Ltd (ACN 156 101 549) (we, us, our) and the applicant named in the credit application form (Form) under “Applicant Details” (you or your), together the Parties and each a Party.

1. Credit

1.1. If we accept your application for credit, we agree to provide the Goods and Services as set out in our Work Order on credit for the period of 30 days from invoice date or such other time period that we agree to provide credit as identified in our Work Order/ Quote (Credit Term).

1.2. Our extension of credit to you will be subject to these Terms of Credit and any agreement which has been agreed by the Parties for the supply of the Goods and Services to you as per the Work Order.

1.3. To the extent of any ambiguity or discrepancy between these Terms of Credit and any other term of our Agreement, these Terms of Credit will prevail.

1.4. We reserve the right to refuse your application for credit and/or revoke our extension of credit to you at any time in our sole discretion, including if in our reasonable view, your financial situation or ability to pay us is impaired, without incurring any liability to you. If we revoke our extension of credit, this will not affect any Goods and Services provided to you on credit prior to the revocation.

1.5. We may advise you of a credit limit at which we agree to extend credit to you. You agree to not exceed the credit limit. We reserve the right to review credit limits in our sole discretion, including increasing or decreasing the credit limit.

2. Your obligations

We will issue invoices to you as set out in the Agreement and, unless otherwise agreed in the Agreement or in writing with us, you agree to pay us the price for the Goods and Services prior to the expiry of the Credit Term, using the payment method set out in our invoice.

3. Overdue accounts

3.1. If:

  1. you fail to pay any monies due and owing prior to the expiry of the Credit Term;
  2. you fail to comply with these Terms of Credit; 
  3. you suffer an Insolvency Event; or
  4. these Terms of Credit are terminated in accordance with clause 7.1,

the full balance of your account will become due and payable immediately.

3.2. If any payment has not been made in accordance with these Terms of Credit, we may (at our absolute discretion):

  1. enter any premises where the Goods the subject of any unpaid amount are stored or held, for the purpose of retrieving and taking possession of those Goods, and you agree to provide any access, items and consents required to enable us to do so;
  2. cease providing the Goods and Services, and recover, as a debt due and immediately payable from you, our reasonable additional costs of doing so (including all recovery costs); 
  3. charge interest at a rate equal to 1.5% per month, calculated daily and compounding monthly, on any such amounts unpaid after the relevant due date for payment; and
  4. suspend or revoke our extension of credit.

4. Title, risk and security interest

4.1. Title in the Goods will only pass to you on the date that you pay for the Goods in full in accordance with the Agreement. Unless otherwise agreed in the Agreement or in writing with us, risk in the Goods will pass to you when we have delivered the Goods to you, or you have collected the Goods from us (as applicable).

4.2. You agree that we hold a general lien over any Goods owned by us that are in your possession, for the satisfactory performance of your obligations under these Terms of Credit and our  Agreement.

4.3. You agree that these Terms of Credit and your obligations under these Terms of Credit create a registrable security interest (including a purchase money security interest) in favour of us, and you consent to the security interest (and any other registrable interest created in connection with these Terms of Credit) being registered on any relevant securities register (and you must do all things to enable us to do so).

5. Warranties and representations

5.1. You represent, warrant and agree that:

  1. you have full legal capacity, right, authority and power to agree to these Terms of Credit, to perform your obligations under these Terms of Credit, and to carry on your business;
  2. these Terms of Credit constitute a legal, valid and binding agreement, enforceable in accordance with its terms;
  3. the details on the Form are true, correct and complete;
  4. you have all the rights necessary to disclose the information (including personal information) set out in the Form; and
  5. no Insolvency Event has occurred in respect of you and that you will immediately notify us if you are (or you are likely to be) the subject of an Insolvency Event.

5.2. In these Terms of Credit, Insolvency Event means any of the following events or any analogous event: (a) a party disposes of the whole or any part of the party’s assets, operations or business other than in the ordinary course of business; (b) a party ceases, or threatens to cease, carrying on business; (c) a party is unable to pay the party’s debts as the debts fall due; (d) any step is taken by a mortgagee to take possession or dispose of the whole or any part of the party’s assets, operations or business; (e) any step is taken for a party to enter into any arrangement or compromise with, or assignment for the benefit of, a party’s creditors or any class of a party’s creditors; or (f) any step is taken to appoint an administrator, receiver, receiver and manager, trustee, provisional liquidator or liquidator of the whole or any part of a party’s assets, operations or business

6. Collection notice

6.1. We may collect personal information about you in order to supply our Goods and Services, to contact and communicate with you, to respond to your enquiries and for other purposes set out in our Privacy & Credit Information Policy https://www.advancednavigation.com/privacy-policy.

6.2. We may disclose that information to third party service providers (including information technology service providers, data storage, web-hosting and server providers, professional advisors and our business partners) to supply our Goods and Services or as required by law. 

6.3. We may disclose that information to the Department of Defence to comply with our Defence Export Control Requirements linked here https://www.advancednavigation.com/terms/defence-export-control-requirements/.

6.4. You authorise us to use all personal information set out in the Form to contact and communicate with third party service providers and the Department of Defence, for internal record keeping, to allow us to manage our relationship with you and for the purposes of assessing your application. If you do not provide this information, we may not be able to assess your application or provide you with our Goods and Services.

6.5. Our Privacy & Credit Information Policy https://www.advancednavigation.com/privacy-policy  contains further information about: (1) how we store and use your personal information; (2) how you can access and seek correction of your personal information; (3) how you can make a privacy-related complaint; and (4) our complaint handling process.

6.6. By providing personal information to us, you consent to us collecting, holding, using and disclosing your personal information in accordance with our Privacy & Credit Information Policy https://www.advancednavigation.com/privacy-policy.

7. Termination

7.1. These Terms of Credit will terminate immediately upon written notice by a Party (Non-Defaulting Party) if:

  1. the other Party (Defaulting Party) breaches a material term of these Terms of Credit and that breach has not been remedied within 10 Business Days of the Defaulting Party being notified of the breach by the Non-Defaulting Party; 
  2. the Agreement is terminated; 
  3. the applicable Work Order under the Agreement is terminated; or
  4. to the extent permitted under the Corporations Act 2001 (Cth)) any step is taken to enter into any arrangement between the Defaulting Party and its creditors, any step is taken to appoint a receiver, a receiver and manager, a liquidator, a provisional liquidator or like person of the whole or any part of the Defaulting Party’s assets or business, the Defaulting Party is bankrupt, or the Defaulting Party is unable to pay its debts as they fall due.

7.2. This clause 7 will survive the termination or expiry of these Terms of Credit.

8. General

8.1. Amendment: These Terms of Credit may only be amended in writing and as agreed by the Parties. 

8.2. Assignment: Subject to clause 8.3, a Party must not assign or deal with the whole or any part of its rights or obligations under these Terms of Credit without the prior written consent of the other Party (such consent is not to be unreasonably withheld).

8.3. Assignment of Debt: You agree that we may assign or transfer any debt owed by you to us, arising under or in connection with these Terms of Credit, to a debt collector, debt collection agency, or other third party. 

8.4. Disputes: A Party may not commence court proceedings relating to any dispute, arising from these Terms (Dispute) without first meeting with a senior representative of the other Party to seek (in good faith) to resolve the Dispute. If the Parties cannot agree how to resolve the Dispute at that initial meeting, either Party may refer the matter to a mediator. The Parties agree to attend any such mediation in good faith. Nothing in this clause will operate to prevent a Party from seeking urgent injunctive or equitable relief from a court of appropriate jurisdiction, or will operate to prevent a Party from taking steps to recover any debt. 

8.5. Further assurance: Each Party must promptly do all things and execute all further instruments necessary to give full force and effect to these Terms of Credit and your obligations under it.

8.6. Governing law: These Terms of Credit are governed by the laws of New South Wales. Each Party irrevocably and unconditionally submits to the exclusive jurisdiction of the courts operating in New South Wales and any courts entitled to hear appeals from those courts and waives any right to object to proceedings being brought in those courts.  

8.7. Joint and several Liability: Where you constitute two or more individuals or entities, you will each be jointly and severally liable under these Terms of Credit. 

8.8. Validity: These Terms of Credit were last updated on 18 November 2025.