8. Warranty

Warranty : The Seller warrants the goods in a period of 12 months from the date of shipment. Any parts under warranty clause are supplied free of charge on CIP Tan Son Nhat Airport – Vietnam within max 30 days from date of claiming letter of the Buyer

This warranty does not cover :

- Non-compliance with direction for use

- Loss of use of the product of consequential loss of any nature

This warranty is valid only if the product is purchased and used in countries of Asia

9. Penalty

Penalty :

-          TO CANCELLATION OF CONTRACT

Cancellation of this contract is not acceptable. If the Seller or the Buyer wants to cancel the contract, 3% of total contract value will be charged as penalty to that party

-          TO DELAY OPENING L/C

In case delay-opening L/C happens, the Seller has the right to delay shipment

-          TO DELAY SHIPMENT / DELAY PAYMENT

In case delay shipment/delay payment happens, the penalty for delay interest will be based on annual rate 6%

10. Insurance

Insurance : The Seller to be covered marine insurance for the Buyer’s risk of loss or damage to the goods during the carriage at Bao Viet Insurance Company with 110% of invoice value covering ICC(A), showing claim payable at Bao Viet Insurance Company, Ho Chi Minh city branch in invoice currency.

11. Force majeure

Force majeure : Neither the Seller nor Buyer is responsible for any delay in or cancellation of shipment and/or delivery due to force majeure, such as : strikes, fire, floods, war, riots, embargoes, earthquakes, including but not limited to acts of Gods, restrictions or any conditions beyond the seller’s control. Force majeure circumstances must be notified in writing by each party to other within 7 days and confirmed a certificate of force majeure issued by Government authority. Beyond this time, force majeure circumstances shall not be taken into consideration.

12. Claim

Claim : The Buyer has the right to make claim in writing to the Seller for quantity, quality according to the Inspection Certificate of SGS within 30 days after receipt of the goods. Claim will be settled within 30 days from the date of receipt of the claim

13. Arbitration

Arbitration : All dispute arising out of or in related to this contract shall be finally settled by the Vietnam International Arbitration Centre at the Vietnam Chamber of Commerce & Industry in accordance with its arbitration Rules

14. General conditions:

This contract is made in Ho Chi Minh City – Vietnam, in 06 English originals, 03 for each party of equal value. This contract comes into effect from signing date, any amendment and additional clause to these conditions shall be valid only if made in writing and sent by telex or fax and confirmed by both parties