RETURN POLICY: All products and services will subject to the following:
CANCELLATION: After SELLER accepts, no order may be canceled without SELLER’S written consent. After any cancellation charges, net thirty (30) days from date of invoice, based on the date of consent or cancellation by SELLER:
- Prior authorization and Return Material Authorization (RMA) number required to return any parts.
- RMA number must be clearly visible on the outside of the carton.
- Approved returns are subject to 20% restocking fee
- No return is permitted after 30 days of shipment.
- Bearings and electrical components are not returnable unless ordered by on site Global Machine Parts personnel.
- Freight must be pre-paid.
- CELLS / SYSTEMS: Unless otherwise specified by SELLER, terms are twenty percent (20%) down with order, seventy percent (70%) upon final shipment from Global Machine Parts, ten percent (10%) upon final acceptance at customer, not to exceed sixty (60) days from installation. Installation is defined as the date the equipment is in production or is ready for production.
- TURNKEY / ENGINEERING: Turnkey / Engineering falls into three (3) categories: 1) Full Turnkey including fixtures and tooling; 2) Turnkey with customer supplied fixtures; 3) Turnkey with customer supplied fixtures and tooling. Unless otherwise specified by SELLER, the terms are as follows: 1) Full Turnkey - thirty percent (30%) down with order, thirty percent (30%) upon fixture design approval, thirty percent (30%) upon run-off at Toyoda factory, ten percent (10%) upon acceptance at customer, not to exceed sixty (60) days from final run-off at the customer’s facility. 2) Turnkey with customer supplied fixtures – thirty percent (30%) down with order, thirty percent (30%) upon tooling design and acquisition, thirty percent (30%) upon run-off at Global Machine Parts factory. If there is no run-off required at the Global Machine Parts factory, thirty percent (30%) is due upon completion of the engineering work at the Global Machine Parts factory, ten percent (10%) upon acceptance at customer, not to exceed sixty (60) days from final run-off at the customer’s facility. 3) Turnkey with customer supplied fixtures and tooling - forty percent (40%) down with order, forty percent (40%) upon completion of the engineering work at the Global Machine Parts factory, twenty percent (20%) upon acceptance at customer, not to exceed sixty (60) days from final run-off at the customer’s facility.
- PARTS, OPTIONS, PAID SERVICE: Unless otherwise specified by SELLER, payment terms are Net 30.
- FINAL PAYMENT: When the Final Payment is due per the above terms, if any option(s) and/or feature(s) is/are not installed or functional; the customer may withhold only the price of said option(s) and/or feature(s) from the final payment.
- FINANCE CHARGE: A finance charge of two percent (2%) per month, or the maximum contractual rate permitted by law, whichever is less will be assessed on all unpaid invoices 90 days past due.
- PRO RATA PAYMENTS: These payments are due from BUYER as shipments are made by SELLER. If shipments are delayed by BUYER, payments become due and payable from the date SELLER is prepared to make shipment. If work to be performed under a purchase order is delayed by BUYER, payment shall be due based on the purchase price and percentage of completion of work.
- FINANCIAL CONDITION: If at any time SELLER determines that the financial condition of BUYER does not justify the terms of payment extended herein, SELLER may require full or partial payment in advance or shall have the right to cancel any purchase order and shall receive reimbursement for its reasonable and proper cancellation charges. SELLER shall have the right to cancel any purchase order, in the event of bankruptcy, voluntary or in-voluntary, or insolvency proceedings brought against BUYER, makes any assignment for the benefit of creditors.
- TAXES: Prices do not include taxes. If any sales, use or similar tax is payable by SELLER with respect to products shipped, then BUYER will upon demand pay SELLER the amount of any such tax.
CANCELLATION: After SELLER accepts, no order may be canceled without SELLER’S written consent. After any cancellation charges, net thirty (30) days from date of invoice, based on the date of consent or cancellation by SELLER:
- By BUYER: With SELLER’S consent:
- For standard products which are thirty (30) days or less from scheduled shipment: fifteen percent (15%) of invoice price; or
- For standard products which are thirty-one (31) to sixty (60) days from scheduled shipment: ten percent (10%) of invoice price; or
- For special products, including machines built to order; all costs incurred and committed. These costs include all burden and overhead as determined by SELLER in accordance with standard accounting practice, including packing, storage, insurance and major rework necessary to resell canceled products, plus SELLER’S proportionate profit of such costs.
- By SELLER: SELLER reserves the right to cancel and decline to complete any order if in SELLER’S opinion, BUYER has not established credit to meet payment terms one hundred twenty (120) days before scheduled shipment. In such case, cancellation charges shall be the same as for special products.
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