TERMS AND CONDITIONS OF PURCHASE

TERMS AND CONDITIONS OF PURCHASE VER 2024.01.20.02

BINDING TERMS AND CONDITIONS OF PURCHASE

The following are the terms and conditions of agreement ("Terms and Conditions") for the purchase of products ("Products") by Vetal Hitech Machines Pvt Ltd, ("Vetal") from Vetal’s suppliers. ("Vendors").

Agreements under these Terms and Condition of purchase form the sole agreement with respect to the purchase of products, and supersedes all proposals, negotiations, conversations, discussions, agreements and/or representations, whether oral or written, including any industry custom or past dealing between the parties relating to the purchase of products.

1. SPECIFICATIONS

All goods ordered unless otherwise changed with subsequent instructions shall conform to the Specifications, Standards and Quality agreed upon.

2. PRICES

(i). The price agreed upon is fixed exclusive of all levies by the Central or State Government as applicable during the time of despatch of goods and the buyer shall not be liable for any fresh cesses, duties, taxes or any other levies which only the seller should meet.

(ii). The seller shall not modify, revise and/or vary the price of the goods unless notice is given to the buyer and accepted by him in writing within fifteen days of the receipt of purchase order.

3. DELIVERY

(i). The goods shall be deemed to be delivered only when the goods are taken delivery and the seller shall be liable or responsible for any damage, destruction, deterioration and / or loss to the goods till then and compensate the buyer accordingly.

(ii). Time is the essence of the contract and therefore unless the delay in non-performance of the whole or a part of the contract is directly or indirectly caused by or due to acts of God or any force majeure,beyond the control of the seller,that shall be liable to pay to the buyer and direct damage caused to the buyer by reason of such delayed delivery of performance of the contract .

4. DOCUMENTATION:

All the material sent to the factory should be accompanied with the documents such as Delivery challan, GST Invoice, E Way Bill and other relevant documents etc., as and when required by the State and Central Govt., etc. for the hassle free movement of goods/materials.

In the documents, Purchase Order No., Vendor Code ,VPC Code. and Drg. No. should be specified. The company will not be held liable, if there is any loss of materials sent without proper documents.

5. DEFECTIVE SUPPLIES

(i). The buyer shall within 30 days from the date of receipt of the goods give notice to the seller of any defects in the goods, or where the defects cannot be noticed by the buyer immediately but only on utilizing the goods in the manufacturing process, the buyer shall have the right to claim of the defective goods at free of cost and the replacement shall be made by the seller within 10 days on the receipt of the notice from the buyer to that effect. The defective goods shall be returned by the buyer to the seller within 30 days of such notice.

(ii). If the replacement is not so made within time as stated in the previous paragraph, the buyer shall have the liberty to get such goods substituted from other sellers in the market and the seller shall pay to the buyer the cost thereof.

(iii). The buyer shall not be responsible for any damage, penalties etc, for the infringement of a patent registered design.

6. REJECTION:

(i). Where goods are rejected by the buyer as not conforming to specifications or standards as per order and the goods are returned to the seller, the proportioned cost of freight and any other charges incidental herein should be borne by the seller.

(ii). Where a part of the supplies are rejected as not conforming to the specifications and standards as agreed, the buyer has the right to pass the bills to the seller after deducting the value of rejected supplies, proportionate freight and other charges etc.,

(iii). If the goods are not delivered as specified in the order or as may be agreed to otherwise the buyer will have the option not to accept the goods.

7. DISPATCH:

(i). The seller shall dispatch all supplies through the authorized carriers of buyers choice. In other cases, if excessive rates are fixed by the seller, such excess freight charges shall be to seller's account

(ii). Where instructions are given to the carriers for door delivery and the carriers do not affect door delivery proportionate freight, loading, unloading and any other incidental charges that may be paid by the buyer shall be to the seller’s account.

(iii). If the seller shall not follow the Goods Transit regulations and consequently if the buyer has to pay any penalty or other expense for loading, unloading etc., at check posts, the seller shall make good, such loss sustained by the buyer.

8. PACKAGE:

Unless it is otherwise specifically stated in the Purchase Order, all packages are free and non returnable.

9. PAYMENT TERMS:

Failure to submit the bills on the basis specified on the face of the order will cause payment to be delayed and such delay in payment shall in no way affect the buyer’s right to any cash discount to be allowed on the price of the goods supplied in this order.

10. CANCELLATION / MODIFICATION:

The Company reserves the right to cancel / modify the order or any part thereof without assigning any reason at any time.

11. CONDITIONS FOR SUBCONTRACT

(i). The component drawings provided are the sole property of Vetal and should be used only for the purpose of manufacturing and supplying the same as stated in the Purchase Order. The drawings should not be copied or lent and should be returned after completing the order.

(ii). Materials sent for subcontract for further processing will be the sole- property of the buyer. Any damage/loss for material will be to the seller’s account.

(iii). When tools are supplied by us, the same should be used only for the purpose given and it should not be used for any other purpose.

12. JURISDICTION AND DISPUTE RESOLUTION:

Any dispute, difference or controversy or claim arising out or in connection with this agreement shall be referred to (and determined by arbitration according to the rules governing arbitration framed by the Indian Chamber of Commerce and Industry Coimbatore at Coimbatore.) and shall be subject to the exclusive jurisdiction of the courts in Coimbatore.