Our Terms & Conditions
Here are a set of standard terms and conditions for your guidance.
In simple terms, we are always at your service. Whatever your complaints / grievances are, we always offer a solution in favour of Customers and that will always be in kind only (replacement parts) and not in cash...
::::::::::
GENERAL TERMS + CONDITIONS effective from 1st Jan to 31st December
2024
::::::::::
Our Delivery Term definitions are as per INCOTERMS-2010 RULES published by INTERNATIONAL CHAMBER OF COMMERCE
(ICC) 2020 (copy available on request).
These Terms + conditions are applicable to, and form part of all our Sales Contracts, in addition to other terms + conditions specifically mentioned in our Performa Invoice.
All mentioned terms + conditions automatically come into effect immediately after placing an Order on us, unless a separate set of terms + conditions are discussed and mutually agreed upon and same is mentioned in our Performa Invoice superseding these general conditions. When the customer has placed an Order on us, it is implied here that the Customer has carefully read and understood all of our terms + conditions and has agreed to abide by them.
A PDF copy of our Terms + Conditions can be sent across to you by E-mail upon request.
PS: In case of a conflict, the PDF version will prevail over the HTML version.
-----------------------------------------------------------------------------------
INCOTERMS-2010 Rules for any mode or modes of transport:-
EXW EX WORKS
FCA FREE CARRIER
CPT CARRIAGE PAID TO
CIP CARRIAGE AND INSURANCE PAID TO
DAT DELIVERED AT TERMINAL
DAP DELIVERED AT PLACE
DDP DELIVERED DUTY PAID
-------------------------------
INCOTERMS-2010
Rules
for sea and inland waterway transport:-
FAS FREE ALONGSIDE SHIP
FOB FREE ON BOARD
CFR COST AND FREIGHT
CIF COST INSURANCE AND FREIGHT
-----------------------------------------------------------------------------------
1. Goods:
1.1 All goods supplied by us unless specified to the contrary
are USED + SECOND HAND Surplus Marine and Offshore Equipment and Spares sourced from different ship breaking yards and disposal sites around the world.
-----------------------------------------------------------------------------------
2. Customers:
2.1 Our goods are sold mainly to OEM manufacturers and Qualified / Authorised Dealers, Traders, Repairers of such goods, who are involved in the activity of dissembling and reconditioning / repairing / overhauling of such equipment and make them fit for resale to end-users.
2.2 End-users may buy our Goods either in BRAND NEW condition (OEM engine spares) or in
AS-IS condition (Engines + Generator sets) and get them overhauled / repaired at their end.
-----------------------------------------------------------------------------------
3. Condition of Goods:
3.1 Due to the fact that all our goods are procured from different ship breaking yards and disposal sites around the world, all our goods are mostly in USED + SECOND HAND condition, unless specified to the contrary. The actual condition of each item, Class Certificate availability, shall be discussed on case-to-case basis and shall be mentioned in our Performa Invoice.
-----------------------------------------------------------------------------------
4. Prices:
4.1 Unless specifically mentioned in writing, all our quoted prices are Ex-works.
4.2 Our FOB Quotation will include marine-worthy wooden crate packing, loading + transportation from warehouse up to the port of loading and Clearing + Forwarding expenses incurred at the port of loading. The necessity for packing is decided by us in accordance with the nature of goods. All Engines, Gensets and Cranes are not packed and they are referred to as loose cargo.
4.3 Our C&F Quotation will include other additional expenses, which are directly related to shipment of Cargo and are levied directly by the Shipping Line such as Lashing charges, Bunker Adjustment Freight
(BAF), Air / Sea Freight and periodical (war) Surcharges.
4.4 All our price-quotations are valid for a maximum period of 15 days only. We reserve the right to revise our prices either upwards or downwards after the expiry of 15 days
4.5 We reserve the right to alter our prices anytime, if there
is an adverse impact on the profitability of our Contracts due to any local or international statutory obligations or new taxes imposed on our Sales or adverse Foreign Exchange Rates.
4.6 IMPORTANT: All items, subject to availability during final confirmation. We RESERVE the RIGHT to accept or to decline any Purchase Order unless an advance payment of at least 50% is remitted within one week after the issuance of Purchase Orders.
-----------------------------------------------------------------------------------
5. Payment terms:
5.1 We prefer 100% prepayment before commencing of delivery of goods.
5.2 However for regular Customers, we do give Credits or agree on partial pre-payment and balance amount payable against Shipment documents or against Letter of credit either at sight or at Usance or any other mutually agreeable terms.
-----------------------------------------------------------------------------------
6. Delivery:
6.1 Delivery of goods will start within 07 working days from the date of receipt of advance payment in our bank.
6.2 The goods are deemed to have been delivered, when they are dispatched from the stockyard, on their way to the port of loading. A delivery schedule is always prepared in accordance with arrival of ship for loading of Cargo and notified to our Customers.
6.4 We take full responsibility till the goods are handed over to the concerned Shipping Line and a Clean Bill of Lading is issued to this effect. In case the shipment is thru Nominated Agent, who is nominated by Consignee himself, then our responsibility ceases immediately after handing over of Cargo to the Nominated Agent.
-----------------------------------------------------------------------------------
7. Guarantee / Warranty:
7.1 It is explicitly mentioned here that our goods may or may not be in working condition.
An extensive repairing / overhauling may be necessary to make the equipment function to your satisfaction.
7.2 We only ensure that the Equipments are EXTERNALLY free from cracks and visible damages, and are fit for remanufacturing + reconditioning. The external condition of our goods is evidenced through close-up photos of said equipment which are either uploaded on our Website or e-mailed to respective Customers to see it for themselves. It is the responsibility of our Customer to seek any additional information concerning the condition of said equipment. We are not responsible for INTERNAL damages or defects, as we do not have access to the internals of our goods until we purchase them from Ship-breakers.
7.3 This guarantee is applicable as per Deemed delivery conditions mentioned under clause 6 above. We are not responsible for any physical damages occurred when the goods are said to be in-transit. Further, unless the Bill of Lading contains any adverse remarks on the condition of equipment, it is assumed that our goods have been delivered in good condition to the concerned shipping line, or to the nominated Agent.
7.4 Insurance is not covered by us and it is the sole responsibility of the Customer to arrange Insurance if required. Our responsibility is limited to intimation of shipment of goods, within 72 hours after issuance of Bill of Lading and offering post-shipment documentation support, either thru email or fax.
-----------------------------------------------------------------------------------
8. Disputes:
8.1 Any disputes concerning the condition or functionality of our equipment or any damages on the internal parts of our equipment are strictly not entertained due to the fact that all our goods are used + second hand, procured from old + dismantled ships, and it is explicitly mentioned here that our goods may or may not be in working condition.
8.2 Further, as per clause 7 above, our customers have full right to seek information or request more photos of all our goods, or to depute their own qualified personnel to carry out inspection of goods, so as to arrive at a proper judgment regarding the condition of our goods, before placing an Order on us.
8.3 However, negligence on our part in providing sufficient information or concealment of any vital information regarding the physical condition of our goods would entitle the customer to claim damages from us.
8.4 Any damages so claimed under sub-clause above, would entitle a Customer to claim ONLY monetary compensation from us and not the RETURN or EXCHANGE of goods. Any or all of the expenditure incurred in the process of claiming such compensation from us, including Ocean Freight or Bank charges, legal expenses, if any, would be borne by the Customer.
8.5 Time period for Dispute Notification:
All disputes shall be notified to us within the period of:
a) 45-days since the date of Bill of Lading for USA/Canada/South American shipments,
b) 30-days since the date of Bill of Lading for European, Australian, Middle East shipments, and
c) 20-days for Asia and rest of the world.
Any disputes or claims received AFTER the above period is strictly not allowed. Any claims in this regard, are to be taken up with respective Insurance Companies.
-----------------------------------------------------------------------------------
9. Claims:
9.1 Any claims raised under clause 8.3 above, would entitle the customer to claim a compensation of not more than 10% of the total FOB value of goods, as under.
9.2 If the payment was fully prepaid as per clause 5 above, then the compensation becomes adjustable in future + subsequent shipments in two (02) equal installments of 5% each.
9.3 If the payment is through Letter of Credit or partly prepaid and partly-postpaid or on Letter of Credit, then this compensation amount is not deductible from the balance payment due to the fact that the documents have already been processed through bank and any short-payment would be treated as payment-default. It is obligatory on the part of the customer to first remit full value of Invoice and then make a claim for compensation. Accordingly, the compensation becomes payable under clause 9.1 + 9.2 above.
9.4 However, a CUSTOMISED solution can always be discussed and approved before placing of an Order, so as to safeguard mutual interests.
-----------------------------------------------------------------------------------
10. Jurisdiction of Law:
10.1 All disputes arising out of Sales contracts concluded under these Terms of Trade are referred to the Jurisdiction of
BANGALORE (KA) India courts and the relevant Indian laws are applicable.
-----------------------------------------------------------------------------------
11. Force Majeure:
11.1 Should any of the aforementioned terms + conditions become legally invalid, the effectiveness of all other terms + conditions remain unaffected. Further, if the profits are adversely affected for such reasons as Foreign Exchange rates, natural or man-made calamities or any other unforeseen circumstances, we reserve the right to make shipment of goods or rescind the Contract by giving valid reasons.
-----------------------------------------------------------------------------------
12. Applicability of these terms + Conditions:
12.1 All mentioned terms + conditions automatically come into effect immediately after placing an Order on us, unless a separate set of terms + conditions are discussed and mutually agreed upon and same is mentioned in our Performa Invoice superseding these general conditions. When the customer has placed an Order on us, it is implied here that the Customer has carefully read and understood all of our terms + conditions and has agreed to abide by them.
------------------------------------------ End
-----------------------------------------
Place: BANGALORE
Date: 01.01.2024