Terms and Conditions of Supply
The following terms under which Magnetik Pictures Ltd t/a Action Vehicles (hereinafter referred to as AV) provides its services must be agreed to by an authorised signatory representing the production company or business entity (hereinafter referred to as the Client) using the services of AV.
Normal payment terms are SEVEN DAYS from the invoice date. These terms can only be varied by written agreement between AV and the Client.
All services rendered by AV to the Client will be charged by invoice to the Client at their given address. Invoices will be sent via email to a party designated by the Client as a person responsible to receive and act upon any such invoices. If the invoice date precedes the first date that the email was sent by AV to the designated person then the seven day payment period will be deemed to have started on the date of the first sending of the email.
Services will be considered ordered by the Client either via a valid Purchase Order or via a verbal request from a recognised member of the production team. It is essential that the signatory of this document acknowledges that services ordered verbally and not subsequently covered by a Purchase Order will be charged by AV to the Client and that the Client will be deemed to be contractually obliged to meet the costs of any such verbally ordered services.
Commercials, Short Films, Low-Budget Productions, SPV Companies, and shoots of a duration of less than two weeks must pay AV an up-front payment of 60% of the budgeted or estimated total spend by the Client for the services of AV. This agreed figure must be received by AV prior to any expenditure being made by AV on behalf of the Client.
Issued invoices not covered by the 60% deposit must be paid within SEVEN DAYS of the invoice date.
Failure to pay the invoiced amount within seven days of the invoiced date will result in monthly interest being charged on the outstanding amount at a rate of 8% above the Bank of England Base Rate. Balances from any such invoices for late payment interest charges will be added to the outstanding balance and therefore themselves attract interest charges should a subsequent monthly interest charge invoice need to be issued