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TERMS OF SALE

Unless otherwise specified, terms are net cash; all invoices become net due and payable thirty days from date of invoice. Interest at not less than ten percent (10%) charged after the due date. Receipt of funds will constitute payment date.

CONDITIONS OF SALE AND TRADE CUSTOMS

1. Quotations are subject to change without notice. All shipments will be billed at the Seller’s prices in effect at time of shipment but shall not exceed the maximum prices lawfully established under any applicable law or governmental regulation in effect at time of shipment.
2. When sales contracts are f.o.b., Works or Warehouse, our responsibility ceases upon delivery of goods to carrier; when f.a.s. Port of Export we agree to deliver goods along side of carrying steamer or on the Dock or Pier receiving cargo for steamer provided Buyer supplies specific delivery instructions within the free time limits, and in the event necessary delivery instructions are not available for delivery within the free time limits, any and all demurrage or storage charges will be for the account of the Buyer; when C.I.F. Destination Port, we agree to pay ocean steamship freight and insurance charges, the insurance covering goods from land to land; however, all consular fees and other miscellaneous charges at point of export or Port of Entry are for the account of the Buyer. Lighterage or transfer charges at foreign port are also for account of the Buyer. Delivery is subject to federal and state laws and regulations, fires, strikes, disputes with workmen, floods, accidents, embargoes, delays in transportation, shortage of cars, shortage of fuel or other material, shortage of labor, and to any other causes beyond reasonable control of the Manufacturer or Seller. In the event of damage or loss in transit, consignee must give immediate written notice to the carrier’s agent at destination and to the Seller. Within thirty days after receipt of goods, the Seller must be notified of any claims for shortage, errors, in shipment or errors in charges.
3. All orders, shipments, and settlements are subject to approval by the Treasurer of the Seller. Should the Buyer fail to fulfill their terms of payment of any order between the Buyer and the Seller, the Seller may defer further shipments until such payments are made or may cancel any or all orders unshipped. The Seller reserves the right to require from the Buyer at any time satisfactory security for performance of the Buyer’s obligations under any order placed with the Seller, and refusal or failure to furnish such security will entitle the Seller to suspend shipment until such security is furnished or to cancel the order, or orders, or the unshipped portion thereof. Orders for special goods may not be cancelled. Buyer shall become liable for and pay Seller’s cancellations charges.
4. Seller warrants goods of its own manufacture against defects in material and workmanship only, for a period of one year from the date of purchase, to the extent that it will repair or replace such goods f.o.b. point of manufacture, or allow credit therefore, at its election, when such goods are in the hands of the original purchaser and used in normal use and service. Other goods are warranted only to the extent of the express warranty of the manufacturer thereof and to the extent such are enforceable by Seller. NO WARRANTY EITHER EXPRESS OR IMPLIED IS MADE BY SELLER AS TO THE FITNESS, MERCHANTABILITY, CONDITION, CAPACITY OR EFFICIENCY OF ANY GOODS SOLD and no claims for labor or for consequential damage will be allowed. Manila cordage, wire rope, or secondhand goods are not warranted or guaranteed by Seller. The Seller shall be notified promptly of any material claimed to be defective and such material shall be subject to inspection by the Seller. No material may be returned for credit or replacement except by special arrangement. SELLER’S LIABILITY IS LIMITED AS ABOVE SET FORTH AND THE REMEDY HEREIN PROVIDED FOR THE BUYER IS EXCLUSIVE OF ALL OTHERS.
5. Materials shall be subject to Seller’s standard manufacturing variations, classifications and extras. Seller reserves the right to change specifications at any time without incurring obligation for equipment previously or subsequently sold. All goods made to special specifications are deemed to be inspected and accepted before shipment is made. Packaging and loading will comply with current Simplified Practice Recommendations, Steel Products, published by U. S. Department of Commerce and loading rules of Association of American Railroads.
6. Any taxes, excises, levies or charges which the Seller may be required to pay or collect under any existing or future law, upon or with respect to services and/or the sale, purchase, delivery, storage processing, use, consumption or transportation of any of the material covered hereby shall be for the account of the Buyer, and the quoted or otherwise applicable prices shall be increased thereby.
7. Failure of the Seller to enforce any of these conditions or to exercise any right accruing through the default of the Buyer shall not affect or impact the Seller’s rights in case such default continues or in case of any subsequent default of the Buyer and such failure shall not constitute a waiver of other or future defaults of the Buyer.
8. No statement or recommendation made or assistance given by the Seller or its representatives to the Buyer or its representatives, in connection with the use of any products by the Buyer, shall constitute a waiver by the Seller of any of the provisions hereof or affect the Seller’s liability, as herein defined.
9. Seller certifies that goods of its manufacture covered hereby were produced in compliance with all applicable requirements of Sections 6, 7, and 12 of the Fair Labor Standards Act, as amended and of the regulations and orders of the U. S. Department of Labor issued under Section 14 thereof.
10. There are no understandings or agreements between the Buyer and the Seller relative hereto which are not fully expressed herein, and no change made herein shall be valid unless it is made in writing and signed by both parties.