| TOWRIDAT STANDARD TERMS OF SALES |
| Tolerance |
| Unless otherwise agreed separately, Cables will be supplied with a tolerance of -/+ 5%. invoice will be made for actual Qty delivered. |
| Technical Approval |
| Our proposals are made considering the specification available with us/through the inquiry and based on our best assumption. Otherwise specifically mentioned and agreed, Technical Datasheet and technical information submitted. |
| Delivery Policy |
| To be discussed at the time of order confirmation Partial delivery and invoice shall be accepted. Ex-stock items requires process time to ensure quality handling. Delay in getting Technical Approval may lead to a delay in production/delivery schedule. Date of delivery against each line item will be calculated from the date of fully operative Purchase Order based on the Order Acknowledgement from TOWRIDAT Operation Department after converting the Purchase Order to a fully operative Purchase Order taking into consideration of: Technical acceptance, Advance Payment, LC issuance, Drum Schedule (Cables),Packing Procedure approval, Inspection Requirement, Offloading Requirement, and/or any other relevant documentation approvals, Test Requirements. |
| Payment Terms |
| Our standard payment term is 50% advance and balance prior to Delivery. If LC terms are agreed, LC with signature clause shall not be acceptable. However, at a point, if it is required a maximum of 15 days will be provided in for getting the signature on the LC document/Delivery Note, which will be part of the LC documentation notes. Acknowledgement of assignment of contract should be provided on demand of TOWRIDAT, if the same is required by any banks for facilitating the shipment of materials from the manufacturer as per the procedure of letter of credit usage and availing credit facility. Advance payment bank guarantees which are issued against the purchase order if any, should not be amended by the beneficiary without prior written consent from the applicant either for the tenor or the value. Any Delay in payment will be charged at 20% per annum for the period which exceeded the credit period considering 7 days process period. |
| Warranty |
| Materials supplied by TOWRIDAT carries the warranty provided by the manufacturer based on their standard warranty terms. |
| Liquidated Charges |
| TOWRIDAT do not accept any Liquidated Charges. |
| Metal Escalation policy |
| Prices for Cables are firm throughout the validity of the offer with the exception of metals escalation or de-escalation, or other significant raw material changes. Metal prices are adjusted on next working day of TOWRIDAT AND Copper Base after receipt of order with full details, including drum lengths, to enable us to proceed with manufacture. |
| Cancellation policy |
| Acknowledged orders are considered non-cancellable. Exceptions are at the discretion of TOWRIDAT are subject to cancellation charges. The charges levied are commensurate with the resources committed toward the fulfilment of the order plus liquidated damages in an amount equal to 25 percent of the value of the cancelled portion of the order. If the materials are manufactured based on the special requirement of the customer, up to 100% cancellation charges shall be applicable. |
