ISM GENERAL TERMS & CONDITION
- All offers to final confirmation.
- The execution of order is deemed as acceptance of these General Terms and Conditions
All sales and terms are based on Incoterms 2010 definitions. Our Good are sold firm and cannot be returned of exchanged
The mutual obligations of the buyer and ISM Ltd. are governed by the Incoterms 2010 mentioned in our offer. The specific clauses of these general conditions and our offers shall in all cases take priority over Incoterms 2010.
Shipment, which may be partial, is carried out at the buyer’s own expense and risk. Even when insurance is contracted by ISM Ltd on behalf of the buyer, ISM shall not bear the risks of loss or damage after delivery, even in the case of any excess. The buyer shall deal with to obtain compensation from the insurers. all the negotiations required to obtain compensation from the insurers.
ISM is a procurement agent and you are employing ISM Ltd for its services in procurement, inspection, loading and shipping. ISM is not liable for any malfunction of the goods/equipment of the goods supplied. We can on your behalf contact the suppliers for compensation and re- supply of the goods if needed.
In the event of non-payment, partial payment or payment delayed through the fault of the buyer, or in the event of declaration of bankruptcy, creditor’s composition proceedings, liquidation of the buyer or partial or total seizure of the buyer’s assets, ISM Ltd reserves to right to cancel is current or not yet fulfilled and, if appropriate, take back the goods delivered or be allocated assets to the value of what is not paid.
Ownership of the item sold shall only transfer to the buyer on the full payment of or suspend any order which in the course of delivery, or the invoice.
Our delivery times are given purely for the information and as accurate as possible, from information taken from suppliers and shippers.
Late payments- finance fees if applicable and agreed to previously, as agreed on PI executed. Late payments are charged at a rate of 24% p.a, payable monthly.
Execution of an order of a sale for Source supply is your acceptance of all the general terms and conditions above.
Allocations of costs buyer/seller according to Incoterms 2010