Terms and Conditions

Peak Production Equipment Ltd (PPE)

STANDARD TERMS AND CONDITIONS OF TRADE

 

  1. A contract under which PPE shall sell goods to the buyer shall only come into existence once the PPE has received and accepted the buyer’s order and, until acceptance, the PPE shall be under no obligation to the buyer. A quotation issued by PPE shall only be valid for 30 days from its date

  2. The PPE's terms of payment, unless otherwise agreed in writing, are payment strictly net 30 days from the date of invoice. If full payment is not made by the due date, then interest shall thereafter be payable on the outstanding balance at the rate of 2% above Barclays bank minimum lending rate from time to time in force, compounded monthly until payment is made.

    The above terms of payment apply only where PGC has obtained credit protection insurance for a minimum of the total cost of the contract and all other outstanding credit exposure for the buyer. Where credit protection insurance cannot be obtained to cover the contract amount and all other outstanding credit exposure for the buyer, then payment terms will be on a pro-forma basis.

  3. Any variance in the information provided by the buyer for the purpose of quotation received after the buyer has accepted the quotation will invalidate the quotation and the PPE reserves the right to revise the price and/or delivery time.
  4. All prices quoted by the PPE are exclusive of carriage and packing costs unless specified “carriage paid” on the quotation. All currencies are accepted and will be converted at the days exchange rate at the time of invoice. All prices exclude freight and duty for Non European customers and has to be paid by the customer.
  5. The goods shall remain the property and in absolute ownership of the PPE until the buyer has paid in full all amounts owed by the buyer to the PPE (inc VAT) in respect of the goods on any account, under any transaction. Until such payment is made, the buyer holds the goods as the PPE’s fiduciary agent and bailee and the PPE may, at any time, request the return of any of the goods which are in the possession or control of the buyer. When payment is overdue, the PPE is granted an irrevocable licence to enter the buyer’s premises to recover PPE’s property (any goods or other materials).
  6. All copyright, trade secrets and other proprietary and intellectual property rights in the goods, their packaging and all information which the PPE may provide to the buyer or its agents shall (as between the parties) at all times remain vested in the PPE and the buyer shall not acquire any intellectual property rights or licence relating to the goods and may not copy or imitate the goods, save for any mechanical drawings, electrical/electronic schematics and software which are bespoke to the customer’s application, which will pass to the buyer upon settlement of all relevant invoices.
  7. Until such time as the buyer has paid in full all amounts owed by the buyer to the PPE (inc VAT) in respect of the goods on any account, the buyer shall keep the goods in good merchantable condition and, at its own cost, fully insure them on the PPE’s behalf for an amount that is not less than the price. Any proceeds from such insurance shall be held in trust for the PPE.
  8. The delivery time quoted is a true estimate based on current workload at the time of the quotation and will be ratified to the buyer on receipt of a firm order. However, the delivery time quoted is not a contractual guarantee, although every effort will be made to meet the date advised to the buyer. No financial penalty shall be accepted for delivery being later than the date quoted.
  9. PPE reserves the right to make deliveries and/or services by instalments and to render a separate invoice in respect of each instalment.
  10. If PPE exercises its right to make deliveries and/or services in accordance with paragraph 9 above, then any delay in the provision of such deliveries and/or services, or failure to deliver any further instalment or instalments, shall not entitle the buyer to reject the contract or the delivery/service of any other instalment or to withhold payment in respect of any instalment previously delivered/serviced.
  11. Any goods supplied by the PPE will be covered by warranty for workmanship and correctness of function for a period of one year from receipt of the goods by the buyer, or such other period as may be agreed in writing by the PPE. Any faulty goods are to be returned to the PPE for repair under warranty. Incorrectly ordered items or cancelled items will only be replaced or refunded at discretion of the supplier and may be subject to a handling charge, this applies prior to and after shipping. Cancellation can be made via email, fax or mail and a confirmation will be sent advising of any charges applicable.
  12. No acceptance of liability for extraneous cost incurred by the buyer are accepted by the PPE under warranty of the goods, save that of the carriage costs in returning the said goods to the PPE.
  13. The PPE shall not be liable in any way for any failure to perform its obligations or for loss, damage or delay incurred by the buyer resulting from circumstances beyond the PPE’s reasonable control.
  14. These conditions and the contract shall be subject to, and construed in accordance with, English law.