PERSONAL GUARANTEE AND INDEMNITY
I/We note that the trading Terms and Conditions have been provided to us by Quipsmart and that I/we have read and understood them. In consideration of supplying goods on credit to the Applicant:
I/We (and if more than one, jointly and severally) agree that if the Applicant at any time fails to pay any money due to Quipsmart or fails to perform or observe any term or condition of credit or sale to be performed by the Applicant, I/we will forthwith pay to Quipsmart all money due and payable by the Applicant (or any subsequent owner of the business name of the Applicant) to Quipsmart. No demand by Quipsmart for payment shall be necessary.
I/We further agree to indemnify Quipsmart against any loss of money due to Quipsmart by the Applicant under or relating to any sale by or credit granted by Quipsmart to the Applicant (or any subsequent owner of the business name of the Applicant) including expenses and legal costs associated with the collection of outstanding monies and including any loss suffered by Quipsmart as a result of the Applicant's failure to perform or observe any term or condition of credit or sale. I/We now charge my/our interest in any real property registered in my/our name/s in favour of Quipsmart to secure this Guarantee and Indemnity and authorise the lodgement of a caveat to support this charge.
I/We (and if more than one, jointly and severally) agree that this Guarantee and Indemnity is a continuing Guarantee and Indemnity and will not be invalidated, released or discharged by any event which would or might so invalidate, release or discharge the Guarantee and Indemnity, including (but not limited to) the giving of time, the variation of the terms and conditions of credit or sale, the alteration of the composition of the Applicant or the release of the Applicant or any co-guarantor. I/We understand this Guarantee and Indemnity binds me/us personally.