1. PARTIES:
The parties relevant to this sale contract are FAAS Trade and Investment Limited (“the Seller”) and the Customer named (“The Buyer”).
2. DESCRIPTION:
The description of the goods is approximate. The seller will use his best endeavors to supply all goods within the tolerances accepted in the trade and does not in any way guarantee the goods to be suitable for any specific purpose.
3. DELIVERY AND INSPECTION:
If for any reason the Buyer cancels an order for goods, which the Seller has obtained at the request of the Buyer, the Buyer will be liable for payment for those goods notwithstanding that the Buyer has not taken delivery of them.
If the Buyer defaults in paying any sum due under the contract then without prejudice to any other right or remedy available to it, the Seller shall have the right to:
(a) Suspend all further deliveries of goods in respect of that, or any other contract.
(b) Cancel the order so far as any goods remain to be delivered there under.
Any dates quoted for delivery of the goods are approximate only and the Seller shall not be liable for any delay in delivery of the goods, the cause of which is beyond the reasonable control of the Seller or for any damage occasion for the Purchaser thereby.
Time for delivery of the goods shall not be of the essence unless previously agreed by the seller in writing.
Goods which the Buyer fails or refuses to accept although as specified in the contract may be sold at the best price readily obtainable and the Buyer shall be liable for any shortfall below the price stipulated in the Contract.
The Buyer shall inspect the goods immediately upon delivery and shall within 7 days from such inspection, give notice in writing to the Seller of any grounds upon which it alleges the goods are defective, unsafe or otherwise than in accordance with the contract. If the Buyer fails to give such notice, it will be deemed to have accepted the goods.
The risk on the goods shall pass to the Buyer on delivery.
(a) The title in the goods shall remain vested in the Seller until payment in full has bee made in respect of all goods supplied not only under this Contract but also under all other contracts for the supply of goods by the Seller to the Buyer/its holding company/any subsidiary company.
(b) Until payment has been made the Buyer may sell, but may not pass title to the goods to any third party.
(c) The Seller may at any time recover the goods in the possession of the Buyer if any part of the amount outstanding from the Buyer in respect of the goods supplied shall remain unpaid after the due date for payment has passed; for that purpose, the seller, its servants and agents may enter upon any land or building upon which the goods are situated.
4. LIABILITY:
To the extent required by law, the Seller shall be liable for any death or personal injury resulting from the goods or any loss or damage sustained by the Buyer caused by a defect in the goods. The Seller shall not be liable for any indirect or consequential loss however caused.
5. PAYMENT:
Terms to be as agreed in writing between the parties.
6. PRICES:
Prices to be as agreed between the parties in writing. The Seller reserves the right by notice given at any time before delivery to vary the price if: after the date of the Contract, there is an increase in the total cost to the Seller owing to wars, defence measures, imposition of new excise or other duties or taxes or increase in freight rates. If any variation in price above shall increase the price by more than 10% over the contract price, the Buyer may cancel the contract or any undelivered balance of the contract by written notice to the Seller, served within three days of the receipt of the Seller’s notice of the price variation.
7. FORCE MAJEURE:
Notwithstanding anything herein contained if circumstances beyond the control of the seller (including, but not limited to any Act of God, war, action by intervention of any government, superior authority, or state influenced monopoly, suspension or loss of transport, strikes, lock outs, labour disputes, combination of workmen, failure of any third party to supply the Seller, breakdown of plant or machinery, crop failure or infestation, or anything directly or indirectly interfering with the raw materials or the manufacture, supply, packing, shipment, arrival or delivery of the goods) prevent or delay the Seller from making delivery in accordance with the Contract then the Seller may by notice in writing given as soon as reasonably practicable after the occurrence of such circumstances give the other party notice of such prevention or delay and from and after three days from the date of the notice the contract or part or parts thereof affected shall be suspended until the circumstances cease to apply. Provided always that such suspension continue for more than 28 consecutive days, the Seller may at any time thereafter cancel the contract and any affected delivery or deliveries and shall not be liable to the other party for any loss or damage occasioned by such cancellation.
8. JURISDICTION:
The contract shall be governed by English Law. Any dispute which may arise hereunder shall be referred to a single arbitrator in accordance with the Arbitrations Act 950 and 1979 or any statutory modification or re-enactment thereof.
9. DUTIES AND TAXES:
All duties and taxes present and future, levied on the goods in the country of import (if applicable) shall be for the Buyer’s account.