“Buyer” means the person, firm, or company purchasing Goods from the Seller.
“Seller” means Altek Beissel Needles Limited and includes its successors and permitted assigns.
“Goods” means the products supplied by the Seller.
“Price” means the price quoted by the Seller, exclusive of taxes and other charges unless stated otherwise.
“Conditions” means these Terms and Conditions of Sale.
2. Applicability
These Conditions shall apply to all sales and shall override any terms proposed by the Buyer.
Any variation to these Conditions shall be valid only if expressly agreed in writing by the Seller. These Conditions shall prevail over and supersede any standard terms and conditions of the Buyer unless specifically agreed otherwise in writing by the Seller.
Acceptance of Goods shall constitute acceptance of these Conditions.
3. Price and Taxes
All prices are exclusive of GST and other applicable taxes.
GST shall be charged extra at applicable rates.
The Buyer shall provide correct GST details. Any liability arising from incorrect details shall be borne by the Buyer.
Prices are subject to change without prior notice. Orders shall be executed at the price prevailing on the date of dispatch.
4. Payment Terms
Payment shall be made in advance unless a credit facility is approved in writing.
Where credit is extended, payment shall be due within the agreed credit period from invoice date.
Payment shall be made via NEFT/RTGS or other approved banking channels.
The Seller reserves the right to withdraw or modify credit terms at any time.
Interest on delayed payments:
Interest shall be charged at 2% per month (24% per annum) on overdue amounts.
In case of default, the Seller shall have the right to:
Suspend further supplies
Demand advance payment
Cancel pending orders
Adjust payments against any outstanding invoices
5. Order Confirmation and Cancellation
Orders once confirmed shall not be cancelled or modified without written consent of the Seller.
The Seller reserves the right to accept or reject any order.
In case of default, the Seller shall have the right to:
6. Delivery
Delivery dates are indicative and not binding.
Time of delivery shall not be the essence of the contract.
The Seller shall not be liable for delays due to circumstances beyond its control.
The Seller may deliver Goods in instalments.
If the Buyer fails to take delivery
The Seller may invoice the Goods
Storage and handling charges shall apply
Risk in Goods shall pass to the Buyer upon dispatch from the Seller’s premises
7. Freight, Packing and Insurance
Freight shall be extra unless otherwise agreed.
Goods are packed as per standard industry practice.
Insurance shall be arranged only if specifically requested by the Buyer and at additional cost.
The Seller shall not be responsible for transit damage unless insurance is arranged.
8. Inspection and Acceptance
The Buyer shall inspect Goods upon receipt.
Any claim for shortage, damage, or defect must be made in writing within 7 days of delivery.
After this period, Goods shall be deemed accepted.
Variation in quantity up to ±5% shall be acceptable
9. Use and Application of Goods
The Buyer is responsible for correct selection and use of Goods. The Seller does not guarantee use of fitness for application or purpose.
The Seller shall not be liable for:
Incorrect application
Machine condition
Improper usage
Operating parameters
Technical advice is provided in good faith but without liability unless confirmed in writing.
10. Warranty
The Seller warrants that Goods are free from manufacturing defects.
The Seller’s liability is limited to:
Replacement of defective Goods, or
Refund of Price, at Seller’s discretion
Goods must be returned at Buyer’s cost for inspection if required.
No warranty applies in case of misuse or improper handling.
11. Limitation of Liability
The Seller’s total liability shall not exceed the value of the Goods supplied.
The Seller shall not be liable for:
Indirect or consequential loss
Loss of profit
Production loss or downtime
12. Retention of Title
Ownership of Goods shall remain with the Seller until full payment is received.
Until payment:
Buyer holds Goods as trustee
Seller has right to repossess Goods
13. Insolvency
If the Buyer becomes insolvent or defaults in payment:
All dues shall become immediately payable
Seller may suspend or cancel supplies
14. Intellectual Property
All intellectual property rights in the Goods remain with the Seller.
The Buyer shall not misuse or infringe such rights.
15. Force Majeure
The Seller shall not be liable for delay or failure due to events beyond its control including natural disasters, strikes, war, machinery breakdown, or supply disruptions.
16. No Set-Off
The Buyer shall not withhold payment on account of any dispute or claim.
17. Assignment
The Buyer shall not assign its obligations without prior written consent of the Seller.
18. Severability
If any provision is invalid, the remaining provisions shall continue to be valid.
19. Entire Agreement
These Conditions constitute the entire agreement between the parties.
20. Governing Law and Jurisdiction
These Conditions shall be governed by the laws of India.
All disputes shall be subject to the exclusive jurisdiction of courts in Chennai, Tamil Nadu.
