Terms & Condition - Ocean Industries
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Terms & Condition

– TERMS AND CONDITIONS FOR SUPPLY OF GOODS

 

1. No order shall be deemed accepted by the Seller unless and until it is confirmed unconditionally by the Seller in writing or any email or any text message.

 

2. The Seller may increase the Price before the Goods are delivered to the Buyer to reflect any increase in cost to the Seller including, among other things, increases in cost from manufacturers, taxes, and duties, the cost of labor, materials, transport, and other fees and charges.

 

3. Any nonrefundable deposit paid by the Buyer to the seller is taken by the Seller as a security and proof of the good intentions of the Buyer in regard to completion of the contract. In the event that the buyer withdraws from the contract or fails to take delivery of the goods the Seller reserves the right to retain the non-refundable deposit in addition to any rights the Seller may have against the Buyer for breach of contract.

 

4. Deliveries in respect of orders for goods may only be postponed with the written agreement of the Seller. If the Buyer cancels an order, The Seller will be entitled to charge the Buyer for any losses suffered as a result of the cancellation. There shall be no requirement to prove such losses provided they do not exceed 25% of the value of any orders canceled.

 

5. If the Buyer fails to pay those amounts on the due date then, in addition to any other right or remedy available to the Seller, the Seller may do either or both of the following:

 

(a) Charge the Buyer interest (after as well as before judgment) on the amount unpaid at the rate of 24 per cent per annum time to time until full payment is made.

 

(b) Terminate the Contract or suspend any further deliveries to the Buyer without notice and without liability and without prejudice to all other rights of the Seller against the Buyer accruing at the date of termination or suspension.

 

6. The seller will not pay off the loss due during the transport and whoever will not pay compensation to the extra charges of the transport.

 

7. If the Buyer fails to take delivery(within 10 days) of the Goods then, in addition to any other right or remedy available to the Seller, the Seller may do either or both of the following:

 

(a) Store the goods until actual delivery and charge the Buyer for the cost (including insurance) of storage, together with any other reasonable incidental costs;

 

(b) Sell the Goods at the best price readily obtainable by the Seller and (after deducting all storage and selling expenses) charge the Buyer for any shortfall below the Price. The Buyer must advise the Seller in writing of any alteration, cancellation or deferral of delivery and the Seller reserves the right to make a charge (which will not normally be less than 20% of the cost of the item altered, deferred or cancelled), whether the goods have been taken into stock or not.

 

8. The Seller will not be liable in any way for loss, damage, costs or expenses (including loss of profit) arising directly or indirectly from any failure or delay in performing any obligation under this Contract by reason of any event or circumstance outside the reasonable control of the Seller, including but not limited to), any strikes, industrial action, failure of power supplies or equipment, government action or Act of God.

 

9. If the Seller reasonably believes that the Buyer has or is about to cease trading or has become insolvent or has entered or is about to enter into receivership or liquidation and notifies the Buyer of its belief, then in addition to any other right or remedy available to the Seller the Seller may terminate the contract or suspend any further deliveries under the contract without any liability to the Buyer. If the Goods have been delivered but not paid for, the Price and all other amounts payable by the Buyer to the Seller shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary.

 

10. This terms shall be governed by and construed in accordance with Indian law. The parties irrevocably agree that the courts of Hyderabad shall have exclusive jurisdiction to settle any dispute which may arise out of under or in connection with Terms or the legal relationship established by them, and for those purpose irrevocably submit all disputes to the jurisdiction of the Rajkot courts.