Permanent Steel Manufacturing Co.,Ltd

The terms and conditions herein and on all invoices herein and on accompanying papers, if any, signed by seller constitute the entire agreement between purchaser and seller and any offer by seller is expressly limited to such terms and conditions. Additionally, acceptance by seller of any offer made by purchaser is expressly made conditional on assent to these terms and conditions.

1. Quotations. Quotations and prices are for the periods of time specifically stated in a written quotation and in all cases are subject to prior sale of the described goods. If no time is stated, then quotations and prices are subject to change without notice. 

2. Taxes. An amount equal to any tax or other governmental charge upon the production, sale, occupation of selling, shipment, storage or use of material, which is now, or may be hereafter, imposed by governmental authorities upon either Purchaser or Seller and which Seller is obligated to pay or collect, shall be added, to the extent attributable to the goods to be sold hereunder, to the price quoted herein and shall be paid by Purchaser.

3. Terms. Method of Payment and Cancellation. Except as otherwise provided herein, the price, terms and time of payment are as shown on all invoices herein. The amount of credit or terms of payment may be changed or credit withdrawn by Seller at any time and all deliveries shall be subject to the approval of Seller´s credit department. Seller reserves the right, notwithstanding any other provision hereof, before or after making any delivery to require payment in cash or to require security for payment. All past due amounts shall bear interest from and after due date at the rate of 18% per annum, or the highest legal rate. If collected through court, probate or bankruptcy proceedings, or if placed in the hands of an attorney for collection. Seller shall be entitled to recover reasonable attorney´s fees and court costs. If the financial position of Purchaser becomes, in Seller´s judgment, weakened or if Purchaser shall fail to comply with any provisions hereof or fail to make payments in accordance with the terms hereof or of any other agreement between Purchaser and Seller, Seller may at its option, defer further shipments or, without waiving any other rights it may have, terminate any agreement between Purchaser and Seller.

4. Contingencies. Contracts and shipments are subject to strikes, acts of God, accidents, machinery breakdown, delays of carriers or suppliers, governmental acts, or any other cause, similar or dissimilar, beyond Seller´s reasonable control. Seller may, during period of shortage however caused and without liability, prorate its goods among its customers in such manner as Seller may deem fair and practicable.

5. Time and Delivery. Unless otherwise agreed, shipments are F.O.B. Seller´s shipping point. Shipments will be made on a freight collect basis and by Seller´s choice of transport, unless otherwise specified prior to shipment. Title and risk of loss of goods subject to this agreement shall pass to Purchaser upon delivery to carrier at point of shipment whether or not freight is prepaid by Seller. Any quoted delivery time is approximate and the extension of delivery time shall not be cause for termination of this agreement unless such delay is unreasonable and due to the gross negligence or intentional act of Seller. If Seller tenders the goods for delivery to Purchaser, and so notifies Purchaser, Purchaser will immediately take delivery.Purchaser agrees to furnish adequate facilities for the receipt and unloading of goods. Seller may store goods so tendered, but not accepted for the amount and risk of the Purchaser and invoice Purchaser for the purchase price of the goods.

6. Claims and Returns. Claims by Purchaser must be made promptly upon delivery of shipments (which shall be deemed the invoice date) and Seller given an opportunity to investigate. All claims are deemed waived and Purchaser accepts such goods if objection is not made in writing within eight days after delivery. Written authorization must be obtained by Purchaser from Seller before Seller can accept returned goods.

7. Specifications. Seller may substitute goods on any order accepted by Seller, provided such goods substantially conform to the descriptions herein. The goods to be sold hereunder are subject to standard manufacturing variations and tolerances. New goods are sold only with such warranty from Seller´s supplier as may be assigned to Purchaser by Seller and Seller makes no warranty thereon.

8. Limited Warranty. Seller warrants that the goods will substantially conform to written specifications, if any, delivered to Purchaser and signed by Seller, and that at the time of delivery Seller will have title to the goods free and clear of any and all liens and encumbrances. These warranties are the only warranties made by Seller and can only be amended by written instrument signed by an officer of Seller. 

9. Remedies and Damages. Seller"s sole and exclusive liability shall be (at Seller"s option) to repair or replace or credit Purchaser"s account for any such goods which are returned by Purchaser during the applicable warranty period set forth above, provided that (i) Seller is promptly noticed in writing upon discovery by Purchaser that such goods failed to conform to the terms hereof, with a detailed explanation of any alleged deficiencies, (ii) such goods are returned to Seller, F.O.B. Seller´s designated delivery point,upon Seller´s written authorization, or stored for Seller free of charge pending such return, and (iii) Seller´s examination of the goods shall disclose that such alleged deficiencies actually exist and were not caused by accident, misuse, neglect, alteration, improper installation, unauthorized repair or improper testing. 

10. Indemnity. Purchaser agrees to indemnify Seller for any and all liability resulting from the transportation, storage or use of the goods,including liability resulting from Seller"s actions, whether negligent or intentional, except that Purchaser shall not be required to indemnify Seller against liability caused solely by the actions of Seller if (i) written notice of any claim based thereon is given to Seller within 15 days of such claim, (ii)the goods deemed to be the subject of such claim are returned to Seller, or reasonable opportunity for testing and inspection given, and (iii) Seller is given the opportunity to direct the defense of any action resulting there from hereof without modification if written specific objection is not made prior to shipment. Conflicting printed terms on a purchase order or acknowledgement used by Purchaser shall be deemed not to constitute such specific objection. Failure of either party to enforce any right hereunder shall not waive any rights in respect of other or future occurrences.

11. Waivers and Modifications. No representations or statements of any kind made by any representative of Seller, which are not stated herein,shall be binding on Seller. No addition to or modification of any provision upon the face or reverse hereof shall be binding upon Seller unless made in writing and signed by a duly authorized representative of Seller.Purchaser shall be deemed to have accepted the terms hereof without modification if written specific objection is not made prior to shipment. Conflicting printed terms on a purchase order or acknowledgement used by Purchaser shall be deemed not to constitute such specific objection. Failure of either party to exercise any right or remedy to which they are entitled shall not constitute a waiver thereof and shall not cause a diminution of the obligations under these Terms and Conditions or any agreement. No waiver of any of the provisions of this or any agreement shall be effective unless it is expressly stated to be such and signed by both parties.

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