This document outlines the comprehensive Lochinvar Limited Standard Terms and Conditions governing the sale and purchase of products. It defines the contractual relationship between Lochinvar Limited (the Seller) and the Buyer, covering essential aspects from contract formation and interpretation to delivery, warranties, payment terms, and termination.
Key Contractual Elements
The agreement details the basis of the contract, including order acceptance and the exclusion of conflicting terms. It clarifies definitions for terms like 'Buyer', 'Seller', 'Product(s)', and 'Contract'.
Product Information and Delivery
Information on product specifications and descriptions is provided, with the Seller reserving the right to amend specifications as required by law. Delivery terms specify the process, location, and completion, noting that quoted delivery dates are approximate and time is not of the essence. The Seller may charge for carriage, insurance, and storage if the Buyer refuses delivery.
Warranties and Liability
Lochinvar Limited warrants products to be fit for purpose, conform to description and specification, and be of satisfactory quality. The Seller's liability is limited, excluding indirect or consequential losses and capping total liability at 100% of the product price. Specific exclusions apply, such as for defects arising from the Buyer's misuse or unauthorized alterations.
Payment and Termination
Payment terms require invoices to be settled within 30 days of the month-end, with interest accruing on overdue amounts. The contract can be terminated by the Seller under specific conditions, including material breach by the Buyer, insolvency, or significant deterioration of the Buyer's financial position. Termination does not affect accrued rights.
Ownership and Insurance
Title to products passes to the Buyer only upon full payment. Risk transfers upon delivery. The Seller maintains third-party insurance, including product liability, until delivery completion.
Governing Law
The contract is governed by and construed in accordance with the laws of England and Wales. The courts of England and Wales hold exclusive jurisdiction over any disputes arising from or in connection with the contract.
