Terms and Conditions

Electroparts Ltd - Standard Trading Terms and Conditions

PAYMENT TERMS:

Account to be set up on PRO-FORMA terms pending credit clearance

Normal Trading Terms: 30 DAYS FROM MONTH END. PAYMENT TO BE RECEIVED BY US ON OR BEFORE THE FIFTH WORKING DAY OF DUE MONTH.

Accounts will be stopped in the event of non-payment. These terms may only be varied at the discretion of the management. Consequently we would ask that customers keep us well informed of any payment problems.

CREDIT LIMIT:TBA

Subject to credit clearance (CREDIT APPLICATION TO FOLLOW). Subject to credit clearance initial credit will be set at £500

 

Payments:

Invoices not paid at the agreed time will be subject to interest on the amount owing at a statutory rate of 5% pa above bank lending rate applicable at invoice due date. Disputed invoices must be notified before payment is due. Any costs arising from external collection of overdue debts will be added to the value of the outstanding debt.                             

In the event of an invoice becoming overdue, all outstanding invoices will be deemed due immediately and all credit terms and discount agreements shall be void. Accounts that go over a 60 days limit are automatically placed on pro-forma. Orders held on STOP, due to overdue payments, will be invoiced in the current month.

In the event of debts owing to the company, all components, free issue or otherwise, may be impounded in order to secure payment. All goods remain the property of ELECTROPARTS Ltd. until full payment is received. In the event of non-payment of debt, any and all identifiable ELECTROPARTS products will revert to ELECTROPARTS ownership up to the value of the debt.

The above terms are designed to ensure tight financial control in order to maintain cost effectiveness and ultimately to avoid costly court action.

Purchasing:

Components specifically purchased for use on customer’s contracts are normally invoiced on delivery of finished work. However, should the indicated production date be delayed, by problems either with the customer or his suppliers, longer than 10 working days, then an invoice may be raised for immediate payment for the components. Components held in stock for price maintenance, or production target purposes, are deemed to be purchased on behalf of the customer. Where the customer terminates the contract for commercial reasons, the Customer shall be liable to cover the cost of “customer” specific stock, subject to the discretion of Electroparts.

 

GENERAL CONDITIONS

Design and Specification

Electroparts is a sub-contractor, working purely to customer’s designs and specifications. It is the responsibility of the customer to ensure that their designs are fit for purpose, meet applicable laws and regulations, and do not negate component integrity. Electroparts will not be responsible for, and will not indemnify the customer against quality issues arising from poor or inadequate design. Examples would be where the customer specifies the alteration of a component, where that alteration materially affects the performance of that component, or where the customer has specified inappropriate materials.

It is expected that components supplied by the customer are consistent with initial samples supplied. It is the responsibility of the customer to ensure the consistent quality of free-issue components. WE WILL NOT BE LIABLE FOR FAILURES OR DELAYS CAUSED BY POOR QUALITY OR FAULTY FREE ISSUE COMPONENTS.

All costs incurred due to shortages or faults on free-issue components must be borne by the customer.

Delivery

Delivery dates are agreed on receipt of order. Whilst Electroparts will strive to meet all customers delivery dates, and undertakes to keep customers informed of any delays, we do not guarantee any deliveries, and will not indemnify against failure to meet those delivery dates. Order/delivery dates, once agreed, may be varied or cancelled only with the express agreement of Electroparts. Delivery charges are extra to quoted prices, unless agreed in writing by Electroparts.

Processes

It is the responsibility of the customer to identify at the prototype stage any special production, handling, packaging, inspection, test or other procedures that may critically affect quality. Electroparts liability will extend only as far as our customer.  The customer must accept liability for goods sold on to a third party.

Any goods found to be non-conforming must be returned to Electroparts for assessment and/or repair/credit. We will NOT accept liability for unreturned, non-conforming product . Electroparts will credit carriage charges on returned goods provided that most economic means are utilized.

Orders

Orders can be supplied over the telephone provided that our understanding of the order shall prevail in the event of a disagreement. Accordingly, please confirm orders in writing (clearly marked Confirmation).

UNLESS REPRESENTATIONS ARE MADE IN WRITING, IT WILL BE ASSUMED THAT ANY ORDER PLACED IS ON THE BASIS OF COMPLETE UNDERSTANDING AND ACCEPTANCE OF THESE TERMS AND CONDITIONS.

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