Legal Terms

Last updated: March 21, 2022

General

Company shall not in any event be liable for indirect, special, consequential or liquidated damages or penalties. Installation or erection of the equipment or supervision thereof by Company, if specified or requested by Purchaser, shall be governed by Company’s Standard Conditions of Erection and Installation.

This Proposal and any attachments made a part of it, when accepted by Purchaser and approved by Company, as specified constitute the entire contract concerning the equipment. The contract shall not be modified or canceled except by mutual agreement in writing, signed by Purchaser, and approved in writing by an executive officer of the Company. The contract is assignable only with Company’s written consent.

Terms of Payment

Unless other terms are specified, pro rata payments, shall become due as shipments are made. If shipment is delayed by Purchaser, date of readiness for shipment shall be deemed to be date of shipment for payment purposes. If manufacture is delayed by Purchaser, a payment shall be made based on purchase price and percentage of completion, balance payable in accordance with the terms as stated. Equipment held for Purchaser shall be at the risk and expense of Purchaser. If, in Company’s judgment, Purchaser’s financial condition at any time does not justify further manufacture or shipment, Company may require full or partial payment in advance, or , if shipment has been made, recover the equipment from the carrier and or purchaser.

Title and Insurance

Title and right of possession of the equipment or any replacement shall remain with the Company, regardless of mode of attachments to realty or other property until the full price (including deferred payments and any notes or renewals or extensions) has been paid in cash. Purchaser agrees to do all acts necessary to perfect and maintain said title and right in Company. Upon shipment of any of the equipment, all risk of loss or damage shall be passed to Purchaser, and Purchaser shall procure and maintain for the benefit of Company and Purchaser, as their interests may appear, adequate insurance on the equipment against damage by fire or other casualty.

Taxes

The Purchaser agrees to bear all sales, use or other tax imposed by federal, state or local authorities as required.

Substitutions

The Company reserves the right to make substitutions or revisions in specifications or suppliers to expedite delivery, providing the change will not affect the operation of the equipment.

Claims

Claims for shipping shortages, concealed or otherwise, will not be allowed by the company, unless reported to us within 60 days from the date of shipment. Shipments are normally F.O.B. truck, shipping point, and therefore travel at the purchaser’s risk. Any claims for damage must be filed with delivering carrier, by the Purchaser.

Cancelation or Suspension

Cancellation or suspension of orders may be made only upon our written approval and on terms that will indemnify us against all losses.