Terms of Trading


  • The title of ownership and the property of the goods shall remain vested in Penny Banks until the buyer has paid the contract price in full when purchasing goods.
  • When goods are purchased / hired, if payment is overdue, Penny Banks may recover any of all such goods and may without let or hindrance enter the buyers/hirers premises / venue for this purpose.
  • From the advised due date of payment until the settlement is made there will be a 5% interest charge.
  • The buyer / hirer shall examine goods on delivery; any faults must be reported to Penny Banks within 1 day of delivery.
  • At all events the hirer stands responsible for the safe care and full value of the goods from delivery until collection by Penny Banks or a representative of Penny Banks.
  • If goods are damaged, lost or stolen during the hire period, a charge will be incurred for the full purchase cost.
  • When a VAT invoice has been issued due to overdue payment on a Proforma invoice, settlement must be made within 7 days of the invoice date or a 5% surcharge can be incurred at Penny Banks discretion.
  • Orders placed less than 7 days before delivery will be subject to 20% surcharge.
  • Goods are supplied by Penny Banks only subject to these terms and the buyer / hirer accepts these terms govern all contractual relationships between them to the exclusion of any terms contained in any of the buyers / hirers documents.
  • No employees or other person acting or purporting to act on behalf of Penny Banks is authorised to agree or effect any alterations in these terms save that a director of Penny Banks, may in writing agree any amendments or alterations.
  • Should you cancel your confirmed order you will be subject to cancellation charges.
  • Pro Forma invoice - full payment must be made prior to goods being delivered.
  • VAT invoices - payment terms are strictly 30 days from date of invoice.

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