International Terms of Trade

Agreement, Price and ordering

1.1    N&Z  agrees to sell and the Buyer agrees to buy N&Z ’s honey, honey-based products and other products (“Products”) as set out in in the relevant PO at the price specified and provided to the Buyer by N&Z  (“Price”).

1.2    The Buyer agrees that all Prices are:

(a)     in New Zealand Dollars;

(b)     exclusive of GST, other taxes and duties which may be applicable and any insurance, freight and handling charges. Such taxes and charges will be invoiced and paid in addition to the Price;

(c)     FAS Auckland (Incoterms 2020); and

(d)     subject to the correct specifications (if any and as applicable) having been provided by the Buyer.

1.3    The Buyer must submit a PO for all orders of the Products.  POs submitted by the Buyer will not be deemed to be accepted by N&Z  unless and until the PO has been confirmed in writing by N&Z  or N&Z  has delivered the PO.

1.4    The Buyer cannot cancel any PO which has been accepted by N&Z  unless it has N&Z ’s written consent to do so and the Buyer indemnifies N&Z  in full against any and all losses, costs, damages, charges and expenses suffered or incurred by N&Z  as a result of such cancellation.


2.1    Unless otherwise specified in writing by an authorised officer of N&Z , payment will be made as follows:

(a)     full payment will be due prior to the Products leaving N&Z ‘s premises; or

(b)     where credit terms have been approved in writing by N&Z  (in N&Z ’s absolute discretion and which may be amended by N&Z  from time to time), in accordance with such credit terms.

        The method of payment by the Buyer for the Products will be at the sole discretion of N&Z .

1.2    The time for payment within which the Buyer is to pay for the Products is an essential term of this Agreement.

1.3    Credit card payments will be subject to a surcharge of 2.75%.

Interest and costs on overdue accounts

3.1    If the Buyer fails to make a payment due under this Agreement by the due date, without prejudice to any other rights or remedies of N&Z  under this Agreement or under law, N&Z  may (at N&Z ’s sole discretion):

(a)     charge interest on all overdue accounts at a rate of 10.0% per annum calculated on a daily basis from the due date until it is all received in full by N&Z , whether before or after judgment. Any payments received by N&Z  will be applied firstly against such interest;

(b)     seek reimbursement from the Buyer for any legal costs (as between solicitor and client), any debt collection fees and any other costs or expenses incurred in the recovery of an overdue debt; and

(c)     suspend further delivery of any Products until all payments have been made.


4.1    The Products will be deemed to have been delivered to the Buyer at the time they are delivered to the port for shipping.

4.2    Freight terms are FAS Auckland and are the responsibility of the Buyer.

4.3    The Buyer agrees to export the Products from New Zealand within 2 weeks of this arriving in port, or these Products will be subject to New Zealand GST.

Risk and ownership

5.1    On delivery of the Products by N&Z  to the shipping or airport for departure, the Buyer will take responsibility for the Products and will carry the full risk of liability with no recourse to N&Z .

5.2    N&Z  retains ownership of the Products until the Buyer has paid the full Price for the Products and all other monies owing by the Buyer to N&Z .

5.3    The Buyer acknowledges that it is in possession of the Products solely as bailee for N&Z  and will not part with possession of the Products until full payment for the Products and all monies owing to N&Z  by the Buyer have been made. The Buyer will hold any proceeds of sale of the Products not yet paid for in trust for N&Z .

5.4    The Buyer will store the Products in such a way that it is clear that they are the property of N&Z .

5.5    The Buyer agrees that N&Z , its agents and representatives may enter (without the need to give notice) and are authorised where necessary, to break into the premises where the Buyer is or may be storing the Products for the purpose of N&Z ‘s inspecting and/or removing such Products.

Personal Property Securities Act 1999 (NZ) (“PPSA”) 

6.1    To secure performance of the Buyer’s obligations to N&Z  under this Agreement, the Buyer:

(a)     acknowledges and agrees this Agreement is a security agreement for the purposes of the PPSA;

(b)     grants to N&Z  a security interest in the Products and any proceeds of Products;

(c)     agrees that any Products or proceeds of Products coming into existence after the date of acceptance of this Agreement will come into existence subject to the security interest granted in this Agreement without the need for any further action by any party;

(d)     acknowledges that it has received valuable consideration from N&Z , that such consideration is sufficient and attachment of the security interest is immediate and is not postponed or deferred in any way;

(e)     undertakes to sign any further documents and/or provide any further information (such information to be complete and up to date in all respects) which N&Z  may reasonably require to register a financing statement or a financing change statement on the register; and

(f)      agrees the security interest in the Products and in any proceeds of Products created by this clause 6 secures all moneys outstanding by the Buyer to N&Z  from time to time including (but not limited to) the Price of the Products.

6.2    The Buyer waives its rights to receive a copy of the verification statement or to reinstate this Agreement under s133 and s148 of the PPSA.

Warranty and product recall

7.1    N&Z  warrants that it will repair or make good any defects in the Products brought to its notice within 10 business days after delivery of the Products to the Buyer.  If written notice is not received by N&Z  within 10 business days, the claim will be waived and the Products delivered will be deemed to conform to the PO and to be unconditionally accepted by the Buyer.  No claim will be accepted if the defective Products have been stored, maintained or handled incorrectly or in a way which does not comply with the terms of this Agreement.

7.2    N&Z ’s liability in respect of any claim, liability, loss or damage against, of or to the Buyer that may arise out of any breach of the warranty in clause 7.1 will be limited to correcting the defects in the Product.  Any right to make a claim against N&Z  under clause 7.1 will lapse if the Buyer accepts delivery of the Products.

7.3    The Buyer will, at the request of N&Z  or in case N&Z  is the subject of a request, court order or other directive of a governmental or regulatory authority to withdraw any Products from the market (“Recall Notice“) and use all reasonable endeavours at its own cost to assist N&Z  in locating and recalling any Products.

7.4    Unless required by law, the Buyer will not initiate any recall or withdrawal without the written permission of N&Z  and only then in strict compliance with N&Z ’s instructions about the process of implementing the recall or withdrawal.

Exclusion of consumer guarantees

8.1    If the Buyer acquires the Products for business purposes, the Buyer agrees that the provisions of the Consumer Guarantees Act 1993 (NZ) are excluded and do not apply (to the extent permitted by law).

8.2    The Sale of Goods provisions in Part 3 of the Contract and Commercial Law Act 2017 (NZ) are excluded, to the extent permitted by law, where they are inconsistent with the terms of this Agreement.

Limitation and exclusion of liability

9.1    N&Z  makes no warranty, express or implied, in relation to the Products other than that the Products being of merchantable quality and otherwise as required as a legal minimum under applicable New Zealand laws and regulations. To the extent permitted by law, N&Z  will be under no liability whatsoever to the Buyer for any indirect, special, incidental, consequential, economic, loss of profits, exemplary damages or losses suffered by the Buyer arising out of this Agreement, whether actionable in contract, tort (including negligence), equity or otherwise.

9.2    If N&Z  is found liable, N&Z ’s liability in aggregate will not exceed the total sum payable by the Buyer to N&Z  under the relevant PO.

9.3    The Buyer agrees that the limitations and exclusions set out in this Agreement are reasonable having regard to all the circumstances.


10.1    The Buyer will indemnify N&Z  against all and any claims, actions, damages, loss, liability, costs (including legal costs on a solicitor-client basis), charge, expense, outgoing or payment which N&Z  may suffer, incur or become liable for in connection with any breach of the Buyer of its obligations under this Agreement or any acts or omissions of the Buyer in using any of the Products provided by N&Z  under this Agreement.

Intellectual property

11.1    The Buyer acknowledges that N&Z  is the owner of the intellectual property rights in the Products, and such intellectual property will at all times during the term of this Agreement and thereafter remain the exclusive and proprietary property of N&Z . Nothing in this Agreement will give the Buyer any rights whatsoever to the intellectual property of N&Z

11.2    The Buyer agrees:

(a)     not to use the intellectual property of N&Z  except as expressly authorised by N&Z ; and

(b)     not to tamper with or remove any markings, patent numbers or other indication of the source of origin of the Products that may be placed by N&Z  on the Products.

11.3    If at any time the Buyer discovers any improvement to the Products, the Buyer will immediately provide N&Z  with the details of the improvement and acknowledge that the intellectual property in any such improvement and the right to obtain any relevant protection belongs to N&Z .


12.1    All intellectual property belonging to and all information relating to N&Z  and its affiliated companies (collectively, “N&Z  Group“) (including but not limited to information relating to the business and products of N&Z  Group and the terms and existence of this Agreement), which by designation or by its nature is intended to be treated as confidential, will be confidential information for the purposes of this Agreement (“Confidential Information”).

12.2    The Buyer will not without N&Z ’s prior written consent disclose any Confidential Information to any third party.

Use of information

13.1    The Buyer agrees that N&Z  may obtain information about the Buyer and its financial and business affairs from the Buyer or any other person in the course of N&Z ’s business, including credit assessment, debt collection and direct marketing activities, and the Buyer consents to any person providing N&Z  with such information.

13.2    The Buyer agrees that N&Z  may use the information it has about the Buyer’s credit worthiness for its own reference purposes.

13.3    The Buyer must notify N&Z  of any change in circumstances that may alter the accuracy of the information provided by the Buyer to N&Z .

Force majeure

14.1    N&Z  will not be liable for any delay or failure in the performance of any of its obligations under this Agreement to the extent that such delay or failure is occasioned by circumstances beyond the reasonable control of, and without the fault or negligence of, N&Z .

No exclusivity

15.1    No exclusivity is granted or will be deemed to be granted to the Buyer by N&Z .  N&Z  will be free to supply any other party within the territory in which the Buyer may operate.


16.1    If the Buyer fails to pay any monies owing to N&Z  under this Agreement, commits any act of bankruptcy, or being a company, does any act which would render it liable to be wound up, has a receiver appointed over its property, or otherwise breaches a material term of this Agreement, N&Z  may (without prejudice to any other remedies available to it) suspend or terminate this Agreement and the proportion of the monies owing, calculated according to those Products supplied and those already ordered and manufactured, will immediately fall due and payable.

16.2    Any termination of this Agreement will be without prejudice to any rights or obligations of a party arising prior to the effective date of the termination.

Dispute resolution

17.1    In the event of any dispute between the parties in relation to this Agreement, the parties will first seek to resolve the dispute by giving prompt notice to the other party and in good faith endeavour to resolve the dispute.  If the dispute remains unresolved the parties will seek a resolution through the use of mediation or other informed method of resolution before pursuing arbitration in New Zealand or resolution through the Courts of New Zealand.

Governing law

18.1    This Agreement will be deemed to be made in New Zealand and will in all respects (including enforcement thereof) be construed and governed by the laws of New Zealand but on points of patent, trade mark or copyright law or procedure is to be governed by the law of the country granting the patent or trade mark registration or the copyright protection.  The parties irrevocably waive any objection to New Zealand as the forum for proceedings on grounds of forum non conveniens or any similar grounds.


19.1    Variation: No alteration or variation of this Agreement will be binding upon N&Z  unless authorised and confirmed by N&Z  in writing.

19.2    Notices:Every notice given under this Agreement will be sufficiently given if delivered personally, posted or transmitted successfully by email or fax to the intended recipient at their last known address, email address or facsimile number (as applicable).

19.3    Individual liability:Where the Buyer comprises more than one person carrying on businesses in partnership, each and every individual partner will be jointly and severally liable to N&Z  in respect of all or any indebtedness or liability of the Buyer arising out of this Agreement.

19.4    Assignability: The Buyer will not assign or otherwise transfer or encumber its rights or obligations under this Agreement except with the prior written consent of N&Z .

19.5    Entire agreement: This Agreement constitutes the entire understanding and agreement between the parties and supersedes all prior understandings, agreement, promises, assurances, warranties and representations between the parties, whether written or oral, with respect to the subject matter hereof.

19.6    Waiver: No waiver of any provision of this Agreement will serve as a waiver of any other provision of this Agreement nor as a continuing waiver of such provision and N&Z  will not have waived or deemed to have waived any provision of this Agreement unless such waiver is in writing and executed by N&Z .

19.7    Survivorship: Termination of this Agreement for any reason will not affect such rights and obligations of the parties as are intended to survive the termination, which include but are not limited to clauses 9, 10, 11 and 12.

19.8    Severability: If any provision of this Agreement is held unenforceable or in conflict with any applicable laws or regulations, the invalid or unenforceable part or provision will be replaced with a provision which accomplishes, to such extent as possible, the original business purpose of the part or provision in a valid and enforceable manner, and the remainder of the Agreement will remain binding on the parties.

19.9    Counterparts: This Agreement may be executed in counterparts (including pdf copies), all of which together will constitute one document.