Terms and Conditions of Item Purchased from ITC
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- Legal Terms & Conditions of Use:
- Materials You See On This Website and Your Use of Them
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- Matter You Submit to Ing-Tech Corporation
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In the event that payment is not made as provided on the face hereof Buyer agrees to pay the maximum interest rate as permitted by law from the due date plus any costs of collection, including attorney’s fees. If at any time, Seller determines that Buyer’s credit shall become impaired, Seller may decline to made shipments accept for cash advance of on other acceptable terms.
- Taxes and Laws:
Buyer agrees to pay to the Seller all applicable governmental remittances, such as sales of excise taxes, which Seller is required to pay or assume (excluding income and license or franchise taxes). Compliance with any required laws, such as safety of labeling codes, shall be buyer’s sole responsibility.
ALL INVOICES MUST BE PAID WITHIN TERMS QUOTED. A MONTHLY LATE PAYMENT PENALTY PERCENTAGE APPEARS ON ALL ACKNOWLEDGMENTS AND SHALL BE CHARGED ON ALL OVERDUE ACCOUNTS.
All prices shown are F.O.B. place of manufacture and do not include any Federal, state or local taxes or assessments which may be applicable to the Equipment/product/part or to this transaction. Buyer shall be solely liable for the payment of any such taxes or assessment, which may be added by ITC to the total price specified. If ITC should pay any such taxes or assessments, the Buyer shall reimburse ITC for such expenditures upon demand by ITC.
- Delay in Performance:
ITC shall not be liable to Buyer if its performance hereunder is delayed or precluded by any cause or event beyond the reasonable control of ITC, including but not limited to delays in the control of ITC or any act or neglect on the part of the Buyer or any person for whom buyer is responsible.
- Governing Law:
This agreement shall be governed by and construed in accordance with Colorado Law. With respect to any claim made or action instituted by ITC to enforce any obligation of the Buyer under this agreement or any related promissory note of security agreement, the Buyer hereby consents to and agrees to submit to the personal jurisdiction of any state or federal court in the State of Colorado that has jurisdiction over the subject matter of such claim or action, and the parties agree that venue shall be proper in any such court. The Buyer specifically waves any and all objections based on improper venue or lack of personal jurisdiction in any such court with respect to any such claim or action.
If any provision of this agreement is determined to be unenforceable or in violation of applicable law such provision shall, if possible, be construed, by limiting and reducing it, so as to be valid and enforceable to the greatest extent compatible with applicable law, or otherwise such provision shall inoperative. In either event, however, the remainder of the agreement shall be unaffected and continue in full force and effect.
Neither this agreement or any of the rights or duties hereunder may be assigned by the buyer without the prior written consent of ITC. ITC may assign this agreement and its rights and duties hereunder upon written notice to the Buyer. Subject to the preceding sentence, this agreement shall be binding upon and shall inure to the benefit of the parties and their respective representatives, heirs, successors, and assigns.
A waiver by either party of any breach of this agreement shall not operate as a waiver of any other breach, nor shall failure to enforce any provision operate as a waiver of such provision or any other provision hereof.
All notices or other communications provided for in this agreement shall be in writing and shall be deemed given when personally delivered to the appropriate party or mailed first class, postage prepaid, to the appropriate address indicated at the beginning of the agreement, or to such other address as the party sought to be notified shall from time to time designate.
All used equipment is sold as is with no warranty expressed or implied. ITC is not responsible for the loss Freon during shipment of any refrigeration equipment. Buyer acknowledges that because the equipment/product/part purchased through ITC has not been designated or manufactured by ITC, Buyer shall not receive any warranty with respect to the equipment/product/part itself other that by the manufacturer to pass on to its customers(s). Buyer acknowledges receipt of all manufacturers’ warranties received by ITC and applicable
to equipment/product/part purchases hereunder. If any equipment/product/ part purchase hereunder proves to be defective in either materials or workmanship, the Buyer shall notify ITC in writing of the problems to the manufacturer of the equipment/product/part, and to use its best efforts to have the manufacturer repair any defective parts in accordance with the manufacturer’s warranty. NO OTHER WARRANTY OR REMEDY: Other than as specifically provided. ITC makes no warranty of any kind whatsoever expressed or implied, with respect to the equipment/product/ part or its installation, including but not limited to, any implied warranty of merchantability of fitness for a particular purpose furthermore, the Buyer agrees that the remedies provided above are the Buyer’s sole and exclusive remedies against ITC in connection with this agreement and the furnishing, installation, functioning, and use of the equipment/product/part, and that no other remedy (including but not limited to incidental or consequential damages for loss profits, lost sales, injury to person or property, or any other incidental or consequential loss) shall be available to Buyer.
(a) Events of Default: The following shall be events of default under this agreement: (I) Failure by Buyer to pay when due any amount required to paid by this agreement or any related promissory note or security agreement: (II) Failure by the Buyer to do anything required by this or any other agreement between the Buyer and ITC or any affiliate of ITC; (III) Buyer becomes insolvent or makes an assignment for the benefit of creditors; (III) Buyer becomes insolvent or makes an assignment for the benefit of creditors; (IV) A petition is filed by or against Buyer under the Bankruptcy Act; (V) Any financial in formation given ITC by the Buyer or guarantor proves to be false in any material respect; (VI) The equipment is damaged or destroyed as is a substantial risk; or (VII) Buyer transfers or attempts to transfer a substantial portion of its inventory, equipment/product/parts, fixtures or furnishings. (b) Remedies: If an event of default occurs, ITC may in addition to any other remedies which may be available to it at law or in equity: (I) Except for any portion of the Total Price which is evidenced by a promissory note, impose a late payment charge equal to 1.5% (18 annual) of any past due and payable; and (III) Recover without a court order or other process of law the equipment/product/parts or any other property in which ITC has a security interest to secure Buyer’s obligations hereunder. (c) Collection Costs: If any event of default occurs, the Buyer shall pay all costs incurred by ITC in collecting any sum it is owed, or in otherwise enforcing any of its rights hereunder, including reasonable attorney’s fees, whether or not suit is actually instituted.
- Return of Materials:
Materials may be returned with a 25% restocking fee. Buyer must have authorization for an authorized person and be given an authorization code. This procedure will be the only way equipment/product/parts may be returned.
THE FOLLOWING ADDITIONAL TERMS AND CONDITIONS APPLY TO ALL POLYETHYLEME PRODUCTS
A) Seller reserves the right to ship an invoice and Buyer agrees to accept and to pay for overruns or underruns at the rate specified on the reverse side in accordance with the following schedule:
- on any order of 110,000 units or over +/- 25%
- on any order of 60,000 to 110,000 units +/- 30%
- on any order of less than 60,000 units +/_ 35%
Shipments within the above limits will constitute complete fulfillment of the order by State. Seller is not responsible for performance of bags stored beyond one year.
B) Order Cancellation- This order cannot be cancelled other than in writing. Upon receipt of written notice of cancellation Seller will take all reasonable actions to minimize additional expenses, however, Buyer will be responsible for portions of orders completed at the rate specified plus all expenses incurred by seller in connection with the order and its cancellation.
Terms on discounted invoice become effective on the “DATE OF INVOICE”
- Governing Conditions:
Contractual agreements executed by the Seller and Purchaser shall take precedence over comparable terms set forth herein.