Terms of Sale

TERMS OF SALE

General:

The terms and conditions contained herein constitute the entire agreement between Power Technology, Inc. (referred to as PTI) and its customer. PTI will not be bound by any terms of customer’s order to purchase. No form of acceptance except PTI’s written acknowledgement sent to customer, or PTI’s commencement of performance shall constitute valid acceptance of the customer’s order. Any such acceptance is expressly conditioned on assent to the terms hereof and the exclusion of all other terms. The customer shall be deemed to have assented to the terms hereof, whether or not previously received, upon accepting delivery of any product shipped by PTI. PTI shall not be liable for delay or failure in performance whatsoever due to acts of God, shortage of supplies, transportation difficulties, labor disputes, riots, war, fire, explosion, epidemics, or other occurrences beyond PTI’s reasonable control or due to unforeseen circumstances. PTI makes no claim as to the suitability for purpose of its product, nor does PTI make any guarantees with respect to the level of performance of its product utilized in any given application or use by its customer.

Pricing:

Price quotations are valid for 45 days. Quantity price discounts may apply to purchase orders with single or multiple ship dates for up to one year. Quantity discount rates may vary depending on product type. PTI may change its pricing at any time without prior notice to customer, but such changes shall not affect any accepted orders. All prices are exclusive of taxes and all handling or other charges, including (without limitation), brokerage fees, tariffs, taxes, and transportation charges.

Order Acceptance:

Written purchase orders are required for all purchases. Each purchase order shall constitute a firm offer and shall indicate specific products, quantity, price, shipping instructions, requested delivery dates, bill-to and ship-to addresses, and any other special instructions. Any contingencies contained on such order are not binding upon PTI. All orders are subject to acceptance by PTI, who will accept or reject orders according to PTI’s then current practices. If the order is a “Blanket Order”, the initial release may be schedule according to current lead times and the balance must be scheduled for delivery within 365 days from the date on the PO. At the end of 1 year, unshipped items will be shipped without additional notice to the customer.

Order Changes and Cancellations:

Purchase order changes affecting product configuration/options must be authorized by PTI in advance and may be subject to additional charges and/or price adjustments. Maximum period a blanket purchase order is valid is twelve (12) months. Additions to blanket purchase orders may be made within first thirty (30) days after order is received. Due to purchasing commitments made by PTI in response to blanket orders, no reductions in initial blanket order quantities can be accepted. Changes to scheduled ship dates for blanket purchase orders must be made at least four (4) weeks in advance. All shipments due within four weeks are considered firm and cannot be changed. Order cancellations for standard products are subject to cancellation penalties of 20% of remaining order balance and a price adjustment equal to difference in unit price granted for the blanket order vs. the calculated unit price based on actual quantity shipped multiplied by the number of units already shipped. Purchaser is obligated to accept any product previously built and held in inventory at PTI, and for any components ordered specifically for the order being cancelled. Cancelation charges will be calculated and communicated to the customer within 10 business and are due in 10 business days after notification. Order cancellations for non-standard products are addressed in the section titled “Custom products are Non-Cancelable, Non-Returnable (NCNR)”.

Delivery:

Upon receipt of purchase order, PTI will provide an estimate of lead-time until delivery. While this is not a binding commitment, PTI will make every effort to make delivery based on this lead-time estimate. Each shipment released from a blanket must be at least equal to $500 or 8% of the order total whichever is larger. Accelerated deliveries may be available with an expedite fee. Late delivery does not entitle the customer to cancel the order or to claim damages. PTI is not obligated to pay any contractual penalty should it delay in delivering product.

Shipment:

All shipments are FOB shipping point. Shipping costs and the risk of loss from FOB point are the responsibility of the customer. PTI shall be permitted to make partial shipments of products. Delivery shall be deemed completed upon transfer of possession to the carrier at the FOB point. All claims for shortage of products ordered or for incorrect charges must be presented to PTI within ten (10) calendar days after receipt by customer.

Payment:

Payment for all products and services shall be in U.S. dollars, unless Euro payment is authorized in writing. First time customers must pay by credit card, COD, Electronic Funds Transfer (EFT) or money order. PTI encourages payments by EFT. Please contact your salesman for details.

Trade Credit:

For customers ordering more than twice per calendar year, PTI may choose to extend credit terms. If credit approved by PTI, payment terms shall be net thirty (NET30) days from the date of invoice. Payments not received according to these terms may result is delayed shipments. PTI requires credit references and a signed tax exempt certificate to establish an account. PTI reserves the right to reduce or revoke any previously extended credit for any reason. In this case, full payment is due immediately and the account will require prepayment for a minimum of 12 months. Any delinquent invoice is subject to additional charges not to exceed the maximum permitted by law.

Minimum Orders:

PTI is a OEM manufacture of laser products. As such, PTI has established minimum order criteria. PTI’s domestic minimum order is $200. Orders not meeting our domestic minimum order requirement will result in an additional fee of $40. PTI’s international minimum Order is $500. Orders not meeting our international minimum order requirement will result in an additional fee of $40

International Orders:

PTI is pleased to accept international orders. Due to the addition complexity, PTI charges an “International Documentation Fee” of $75 or 60€ on orders shipping outside of the United States.

Product Returns:

Products being returned for warranty repair, non-warranty repair, or modification must be pre-authorized, please contact PTI’s sales department and request a Return Material Authorization (RMA) number. Standard products may, at PTI’s sole descression, be returned for account credit. Standard product returns are subject to a 20% re-stocking charge. Custom products are not returnable. Products being returned must be packaged properly, and units with fiber coupling must be shipped to PTI using original packaging material. Refer to RMA number on shipping documents and on the outside of each package. Mark package(s) “Fragile- Contains Electronic Instruments.” Ship returned items to 16302 Alexander Road, Alexander, AR 72002, USA. For international returns, the commercial invoice should include one of the following statements:
Non-Warranty Repair: “Item is of U.S. origin returned to the USA for repair and will be returned to (country shipping the product) after repair. No commercial value. Value for Customs only: USD50.00.” Always mention the RMA number.
OR
Warranty Repair: “Item is of U.S. origin returned to the USA for warranty repair at no charge and will be returned to (country shipping the product) after repair. No commercial value. Value for Customs only: USD50.00.” Always mention the RMA number.

Shipping charges to Power Technology, Inc. are the responsibility of our customer. Power Technology, Inc. will pay return shipping charges to the customer for warranty repairs. For products returned for non-warranty repair or modification, PTI’s customer is responsible for return shipping.

Product Warranty:

Unless otherwise noted, PTI warrants its products to be free of defect in workmanship and material for a period of twelve (12) months from the date of shipment. The customer must make all claims under these warranties and no claim will be accepted from a third party. Product warranties are non-transferable. PTI will repair or replace product, provided customer notifies PTI of defect within warranty period and pre-authorizes return of product as outlined in “Product Returns” section above. Any product repaired or replaced under warranty is only warranted for the period of time remaining in the original warranty for the product. All repaired products are warranted for a minimum period of ninety (90) days. The entirety of PTI’s liability is limited to the replacement cost of product. PTI is not responsible for any consequential damages.

Custom products are Non-Cancelable, Non-Returnable (NCNR): In some cases PTI builds custom products. In most cases, custom parts cannot be sold to other customers. In these cases, there is a binding agreement that PTI’s customer will be 100% financially responsible for all products ordered, regardless if they have been built or shipped. In case of disagreement, PTI will work to resolve any customer concerns.

Safety and Limitation of Liability:

PTI provides product label information, including laser class, in compliance with U.S. FDA/CDRH regulations. Purchaser is responsible for determining appropriate safety practices and warnings when operating various laser products. Except for the warranties stated herein for the customer, no warranty, condition or representation, express, oral, or statutory, is provided to the customer or any third party, including (without limitation), any warranty, condition or representation (a) of merchantability, fitness for a particular purpose, satisfactory quality, or arising from a course of dealing, usage, or trade practice; or (b) that the products will be free from infringement or violation of any rights, including intellectual property rights, of third parties. This disclaimer and exclusion shall apply even if the express warranty herein fails of its essential purpose. The customer’s sole and exclusive remedies hereunder and the only liability of PTI is expressly limited to the terms of this agreement. PTI shall not be liable to the customer, or any third party, for any other special, consequential, incidental, exemplary or indirect costs or damages, including without limitation, legal costs, installation and removal costs, production or profit arising from any cause whatsoever, regardless of the form of the action, whether in contract, tort (including negligence), strict liability or otherwise, even if advised of the possibility of such costs or damages. For the purposes of this provision, “PTI” includes PTI’s directors, officers, employees, agents, representatives, subcontractors and suppliers. In no event shall the total collective liability of PTI, its employees, officers, agents, and directors exceed the amount paid to PTI for products from which such liability arose during the twelve (12) month period preceding the date of the most recent claim.
Export Orders: Customer shall obtain all licenses, permits and approvals required by any government and shall comply with all applicable laws, rules, policies and procedures of the applicable government and other competent authorities. Customer shall indemnify and hold PTI harmless for any violation or alleged violation by customer of such laws, rules, policies or procedures. Customer shall not export or re-export, directly or indirectly, separately or as part of any system, the Products or any technical data received from PTI, without first obtaining any license required by the applicable government, including (without limitation), the United States government and/or any other applicable competent authority. Customer also certifies that none of the products or technical data supplied by PTI will be sold or otherwise transferred to, or made available for use by or for, any entity that is engaged in the design, development, production or use of nuclear, biological or chemical weapons or missile technology.

Jurisdiction:

The validity, interpretation and performance of this agreement shall be governed by and construed under the applicable laws of the State of Arkansas and the United States of America, as if performed wholly within the state and without giving effect to the principles of conflict of laws. The parties specifically disclaim the application of the United Nations Convention on Contracts for the International Sale of Goods. PTI and Customer hereby irrevocably and unconditionally submit to the jurisdiction of the courts of the State of Arkansas and all courts competent to hear appeal there from.