ISG Standard Terms
FOB: Chattanooga, TN. 5% penalty for past due invoices over 30 days, 1.5% interest per month on amounts more than 30 days past due, prorated and compounded daily. Client agrees to pay collection costs and reasonable attorneys fees if account is 60 days or more past due. Change orders, if any, to be invoiced in full upon requested change by customer. The purchasing company agrees to be responsible for ISG Inc., attorney’s fees, court cost, and other collection cost in the event purchasing company fails to pay said sum by the date’s due in accordance with stated terms and interest will be assessed on delinquent invoices at the rate of 1½% per month together with any court cost, attorney’s fees and cost of collection the seller may incur in enforcing the terms of this agreement.
Warranty
Equipment provided is warranted for a period of one (1) year from date of shipment against defects in material and workmanship. Electrical components for 90 days, or up to one (1) year subject to manufacturers warranty claim acceptance. ISG Inc., upon notice will correct such non-conformity by means of repair or replacement of the defective part or parts. Installation labor is not included for replacement of defective parts or repairs requiring special tools or expertise within the warranty period. Territorial representative (representation not available in all states) will over see installation of equipment. Machinery, equipment and accessories furnished by the vender but manufactured by others are warranted only to the extent of the original manufacturer’s warranty to the vendor. Such warranties will be transferred to customer.
Title
The title and rights of possession of this equipment will remain with Industrial Systems Group, Inc. until full payment has been made. The purchaser agrees to protect and maintain such rights and title until complete full payment is received.
Assumptions
The purchaser will provide any electrical and pneumatic hardware and controls not stated in this quotation. Permanent installation of all equipment will be the responsibility of the purchaser. Appropriate guarding will be the sole responsibility of the purchaser.
Acceptance
Machines are to be accepted on manufactures floor after sufficient performance of machinery is demonstrated to the purchaser or if demonstration is waived and written instructions are given to ISG to ship the equipment, such instructions shall constitute acceptance at manufactures plant without run-off demonstration to the purchaser.
Limitation of Liability
In no event shall Industrial Systems Group, Inc., its officers, employees, or sub-contractors be liable for loss of goodwill, or for special, indirect, incidental, or consequential damages arising from clients use of products, equipment or services provided by Industrial Systems Group, Inc., regardless of whether such claim arises in tort or in contract. Client may not assert such claim against Industrial Systems Group, Inc., more than one year after such claim accrued. Industrial Systems Group Inc. aggregate liability for any and all causes of action relating to products, equipment or services shall be limited to the total amount paid by the client to ISG Inc. for the products, equipment or services resulting in such liability.
Cancellation
Orders are not subject to cancellation except with the written consent of the purchasing company. If such consent is given, the order will be subject to cancellation charges including all cost and expenses incurred by ISG, Inc. and a reasonable profit. Unless otherwise stated, profit resulting from cancellation shall be deemed to be 15% of all cost subject to indemnification. ISG shall have the right, at its option to waive indemnification with regards to any item scheduled for completion within 30 calendar days following the written date of cancellation and to complete such item and demand immediate full payment for the same.
Unforeseen Technical Problems
The system proposed appears feasible, however if unforeseen technical problems prevent the system from functioning as intended, ISG may at its option propose other solutions at additional cost to the customer or cancel the project. In the event of such cancellation, ISG will invoice for 100% of the material cost and 50% of the labor cost to cover expenses incurred.