“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.
“Incoterms” means Incoterms® (latest version published by ICC).
2. Applicability
These Conditions shall apply to all export sales.
Any variation shall be valid only if agreed in writing by the Seller.
These Conditions shall prevail over any terms of the Buyer unless expressly agreed otherwise.
3. Price and Taxes
Prices are exclusive of any taxes, duties, or levies in the Buyer’s country.
All import duties, customs clearance charges, and local taxes at destination shall be borne by the Buyer.
Prices are subject to change prior to order confirmation.
4. Payment Terms
Payment shall be made by one of the following (as agreed):
Advance payment (preferred)
Irrevocable Letter of Credit (LC)
Other mutually agreed banking channel
All payments shall be made in freely convertible foreign currency.
All bank charges within India shall be borne by the Seller. All bank charges outside India shall be borne by the Buyer.
Shipment shall be made only after receipt of:
Advance payment, or
Confirmed LC acceptable to the Seller
Interest on delayed payments:
2% per month (24% per annum) on overdue amounts
5. Letter of Credit (if applicable)
LC must be:
Irrevocable
Payable at sight
All LC charges outside India shall be borne by the Buyer.
Any discrepancy-related charges shall be borne by the Buyer.
6. Delivery and Incoterms
Delivery shall be governed by the agreed Incoterm (FOB / CIF / EXW / etc.).
Risk shall transfer in accordance with the applicable Incoterm.
Delivery timelines are indicative and not guaranteed.
Partial shipments shall be permitted unless otherwise agreed.
7.Packing and Documentation
Goods shall be packed as per standard export packing suitable for normal transit.
The Seller shall provide standard export documents:
Commercial Invoice
Packing List
Certificate of Origin (if required)
Bill of Lading / Airway Bill
Any additional documentation shall be provided at extra cost.
8. Inspection and Acceptance
The Buyer shall inspect Goods upon receipt.
Any claim for damage, shortage, or defect must be notified in writing within 7 days of receipt.
After this period, Goods shall be deemed accepted.
9. Use and Application of Goods
The Buyer is responsible for correct selection and use of Goods.
The Seller shall not be liable for:
Incorrect application
Machine condition
Improper usage
Operating parameters
Incorrect storage
Technical advice is provided in good faith without liability unless confirmed in writing.
10. Warranty
The Seller warrants that Goods are free from manufacturing defects.
Liability is limited to:
Replacement of defective Goods, or
Refund of Price, at Seller’s discretion
Return of Goods shall be at Buyer’s cost unless agreed otherwise.
11. Limitation of Liability
The Seller’s total liability shall not exceed the invoice value of the Goods.
The Seller shall not be liable for:
Loss of profit
Indirect or consequential damages
12. Force Majeure
The Seller shall not be liable for delay or failure due to events beyond its control including war, natural disasters, government restrictions, shipping delays, or supply chain disruptions.
13. Retention of Title
Ownership of Goods shall remain with the Seller until full payment is received.
14. Compliance and Regulations
The Buyer shall comply with all applicable import laws and regulations in its country.
The Buyer shall obtain all necessary import licenses and approvals.
15. Cancellation
Orders once confirmed shall not be cancelled without written consent of the Seller.
16. No Set-Off
The Buyer shall not withhold payment due to any dispute or claim.
17. Governing Law and Dispute Resolution
These Conditions shall be governed by the laws of India.
18. Arbitration
Any dispute, controversy, or claim arising out of or in connection with this contract shall be finally resolved by arbitration in accordance with the Arbitration and Conciliation Act, 1996.
Seat of arbitration: Chennai, India
Language: English
Number of arbitrators: One, appointed by the Seller
The award shall be final and binding on both parties
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