Standard Terms & Conditions of Sales

  1. ACCEPTANCE: Acknowledgment is made in conformance with Precision Interconnect's quotation that resulted in your order. Your order is accepted subject to the terms hereof and such acceptance is conditioned upon your waiver of any terms and conditions of your order or of any documents incorporated therein that differ from or are in addition to those herein. Failure of the Buyer to object to the foregoing upon receipt of this acknowledgment is deemed to be the Buyer's consent to such waiver, unless the Buyer objects in writing within 10-days of receipt of Precision Interconnect's Confirming Sales Order.
  2. DELIVERY: Estimates as to time of delivery are based upon conditions prevailing at the time of offer date and apply from the date of receipt of a definite contract. All agreements as to delivery are subject to contingencies beyond Precision Interconnect's control, including but not limited to strikes, fires, accidents, military actions or acts of God. In no way shall Precision Interconnect be liable to the Buyer from any damages whatsoever, including but not limited to loss of use, profit or other collateral, special or consequential damages resulting from delays experienced by the Buyer in production of delivery due to Precision Interconnect's inability to deliver. Should such delay occur, the delivery shall be deferred for a period equal to the time of the delay.
  3. PRICE: Price is free on board (F.O.B) Precision Interconnect's dock Arlington, Texas U.S.A. or country of origin which ever is applicable.
  4. PAYMENT TERMS: 1) Without approved credit, payment is due on or before shipment by wire transfer. A one (1%) percent discount will be applied if payment is received ten or more days in advance of shipment date. 2) Without approved credit, intent to pay by an irrevocable international at sight letter of credit issued by a recognized and approved international bank must be approved before order is placed. 3) With approved credit, payment is due upon delivery and payable within 10 days with a one (2%) percent discount or within 30 days without discount, partial payment is required on the basis of partial shipments of the total order. Invoices not paid within 30 days after receipt shall be charged an additional 1 1/2% per month service charge on the unpaid balance. This provision shall be effective to charge an interest rate not to exceed that provided by the applicable usury laws. Buyer grants to Precision Interconnect a security interest in all materials, design technology, software source codes, supplies, goods and equipment heretofore and hereafter sold by Precision Interconnect to the Buyer for securing the payment of the purchase price of same.
  5. FEDERAL, STATE AND LOCAL TAXES: This offer does not contain any amount for federal, state or local taxes; if there are any such taxes validly imposed by the country, state and/or locality of destination the Buyer agrees to make any necessary reports to the taxing authority or authorities and to pay such taxes.
  6. CANCELATIONS: Precision Interconnect at its option may cancel this order if: 1) Buyer's payments are in default or Buyer breaches any material provision hereof. 2) Causes beyond Precision Interconnect's reasonable control as specified in Paragraph 2. ~ Delivery makes it impossible to assure shipment; 3) Substantial changes in raw materials occur; or, 4) Buyer becomes insolvent or petitions for bankruptcy. BUYER may cancel the remaining balance of this order by written notice to and by receipt of written acknowledgment from Precision Interconnect. Buyer will be liable for reasonable cancellation charges, which shall include materials ordered, work in process for this order, and profit to be made on this order. In no case shall the cancellation charges exceed the purchase price of the canceled portion of this order.
  7. WARRANTY: Precision Interconnect warrants that the item(s) manufactured under the Buyer's contract shall be free from defects in materials and workmanship furnished by Precision Interconnect and shall conform to the applicable drawings and specifications. Precision Interconnect's liability herein, for breach of warranty, contract or negligence in manufacturing, shall be limited to repair or replacement. Repair or replacement of defective items will be applicable only if the Buyer notifies Precision Interconnect by written notice within 30 days of delivery. All claims shall be addressed to: Precision Interconnect P.O. Box 180878, Arlington, Texas 76096 U.S.A.; ATTN: Customer Service Manager. Precision Interconnect reserves the right to inspect at the Buyer's facility all items claimed to be defective or nonconforming prior to authorizing their return. Precision Interconnect assumes no liability for the results of the use of its components in conjunction with other electric, electronic, optical or mechanical components, circuits and/or systems. The foregoing constitutes the sole and exclusive remedy of the Buyer and the exclusive liability of Precision Interconnect and is IN LIEU OF ANY AND ALL OTHER WARRANTIES, STATUTORY, IMPLIED OR EXPRESSED AS TO MERCHANTABILITY, FITNESS FOR THE PURPOSE SOLD, DESCRIPTION, QUALITY, PRODUCTIVENESS OR ANY OTHER MATTER. Without limiting the foregoing, in no event shall Precision Interconnect be liable for loss of use, profit or other collateral, of for special and/or consequential damages.
  8. RETURNED GOODS: Precision Interconnect will accept only those goods for return that have been authorized for return shall be assigned a Returned Material Authorization (RMA) Number. The RMA Number shall be clearly marked on the shipping container(s) and all documentation accompanying the goods authorized for return. The RMA Number shall be assigned by Precision Interconnect pursuant to the conditions set forth in Paragraph 7. ~WARRANTY. Please Note: SPECIAL ORDER and or NON-STOCK Items are Non-Returnable. No returns are allowed 60-days past date of original invoice.
  9. RESPONSIBILTY FOR OPERATION: Upon delivery to Buyer, Buyer assumes the risk of personal injury and loss of personal injury and loss or destruction or property in connection with operation of these goods, and AGREES TO INDEMNIFY AND HOLD HARMLESS SELLER FROM AND AGAINST ALL CLAIMS ARISING OUT OF THE USE OF THESE GOODS including, but not limited to claims by the agents and employees, owners, ultimate users, bystanders and subsequent purchasers.
Precision Interconnect