General Terms and Conditions of Sale

  1. APPLICABILITY: These General Conditions of Sale shall be part of every supply of goods between Powerjet Parts, Inc. (hereafter called and referred to as “Seller”) and Buyer. Neither Buyer’s conditions of purchase, its purchase order terms, nor any of Buyer’s other terms or conditions at variance with those set forth herein shall apply unless agreed to by Seller in writing. The terms herein, including but not limited to arbitration, shall in all events supersede and control the sale of goods by Seller.
  2. PRICING AND DELIVERIES: Unless otherwise stated, prices include the cost of standard packaging. Delivery is considered to be EX WORKS Seller in accordance with INCO terms 2000. The Buyer shall pay any shipping charges, taxes, duties, imposts or other charges. If Seller has paid any charge on behalf of the Buyer, the Buyer is required to reimburse the Seller. Unless otherwise stated, delivery will take place at the warehouse of the Seller at the time goods are released to the transport company specified.
  3. TITLE AND RISK: Seller will retain ownership of goods sold until Seller has received payment in full from Buyer. Buyer also grants a purchase money security interest in the goods to Seller and Seller may execute and file financing statement(s) to record its security interest. Risk of loss or damage to the goods shall pass from Seller to Buyer at delivery of the goods to the transport company in accordance with Item 2. Buyer assumes full responsibility for selection of the goods, their application and use and results thereof.
  4. DELIVERY TIMES: Delivery times indicated are approximate unless specifically agreed to in writing by Seller. For consequences of delays in delivery, including lack of advice thereof, Seller shall not be responsible.
  5. PAYMENT: Payment is due to Seller, without offset or deduction, within 14 days net after date of invoice or as otherwise agreed to at time of order acceptance/confirmation. After expiry of the agreed upon payment terms, a per month late fee of 1.5% interest rate of the total invoice will be due. Costs associated with the establishment of a Letter of Credit, including any bank charges shall be for the account of the buyer and may not be deducted from the invoiced amount. Buyer agrees to pay all costs of collection, including reasonable attorney’s fees, if amounts owing to Seller are collected by or through an attorney at law. Time is of the essence as to payment obligations of Buyer.
  6. ACCEPTANCE: Complaints, claims and losses regarding the goods or short-shipments are to be made within 10 days after receipt of the goods. After this period goods are considered accepted. Replacement, repair or reimbursement can only take place after written consent of Seller.
  7. CANCELLATION: A purchase order placed by Buyer and confirmed by Seller cannot be cancelled by Buyer without Seller’s written consent. Buyer is fully liable for any applicable cancellation charges up to the sales price of the parts and/or services ordered.
  8. LIMITED WARRANTY: Goods are warranted only in accordance with the limited warranty of the manufacturer of the goods supplied. Buyer acknowledges that the Seller is passing through to Buyer only the manufacturer’s warranty for the goods and that Buyer and the ultimate purchaser shall look solely to the manufacturer of the goods for all warranty claims, defects and the like. Buyer hereby waives, releases and renounces all other warranties, obligations and liabilities of Seller and acknowledges that the SELLER MAKES NO WARRANTY EITHER EXPRESSED OR IMPLIED AND MAKES NO WARRANTIES OF MERCHANTABILITY OR ANY WARRANTY OF FITNESS FOR PARTICULAR PURPOSE.
  9. LIABILITY AND INDEMNITY: In no event shall either party be liable for, nor shall either party recover for any incidental or consequential losses, expenses or damages, except that Buyer shall indemnify and hold Seller harmless for all losses, expenses and damages claimed or incurred by third parties, which may occur in connection with the goods sold. Seller’s sole and exclusive maximum liability, whether based in contract, tort, or otherwise, shall not in any event exceed the purchase price actually paid by Buyer for the particular goods at issue.
  10. CONFIDENTIALITY: All pictures, samples, documents and/or pricing submitted in any form whatsoever, including hardcopy or electronic medium, in collection with quotations or orders, will remain the property of Seller. Under no circumstances is it allowed to show, hand, copy or submit such to third parties without prior written consent by Seller.
  11. CHANGES: Any change to these Conditions of Sales must be in writing and issued published by Seller.
  12. COMPLIANCE WITH LAWS & REGULATIONS: Sale, assignment or transfer of the goods or data, supplied by Seller, shall comply with applicable export laws and regulations. Buyer shall prevent the sale, assignment or transfer of parts or services to persons, which are denied, debarred or sanctioned by the United Nations or by the governments of the USA, European Community or Hong Kong. Upon request, Buyer informs Seller about the final end-user, the application of the goods and the other parties involved in the transfer of the goods to the end-user. Seller is allowed to cancel the order from Buyer, without being held liable for any cancellation charges including penalties of Buyer’s customers, when the supply of the goods (directly or indirectly) is prohibited by the United Nations or by the governments of the USA, the European Community or Hong Kong or when Buyer does not provide the requested end-use data.
  13. APPLICABLE LAW & ARBITRATION: Any controversy or claim arising out of or relating to Buyer’s purchase, use or supply of goods by Seller to Buyer, including, without limitation, any dispute concerning the scope of this arbitration clause, shall be settled by binding arbitration, using one neutral arbitrator The binding arbitration shall be held in Los Angles, California, USA, in accordance with the governing rules of the American Arbitration Association and applying California substantive and procedural law without regard to its conflict of laws rules. Judgment upon the award in any arbitration rendered by the arbitrator(s) may be entered in any court of competent jurisdiction.
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