GENERAL: These terms and conditions of sale shall apply to all sales of Colex products manufactured and distributed by IEM-Innovation Engineering Modular, LLC doing business as Colex (“Seller”) to any customer (“Buyer”)..
Unless otherwise specifically agreed in writing by our Customer Service Department, any different or additional terms and or conditions proposed by any Buyer in a purchase order are hereby REJECTED by IEM.
Buyer assent to these Terms and Conditions shall be accepted from customer’s ordering products from IEM.
In the event there is a conflict between these Terms and Conditions and the Purchase Order from a Buyer, the Terms and Conditions stated herein shall be considered as the prevailing agreement between IEM and Buyer.
PURCHASE ORDERS: All purchase orders must be emailed, faxed or sent directly to IEM from the entity will be liable for the payment of all invoicing for the order. Verbal orders or orders coming through a third party will not be accepted. All orders will be acknowledged by IEM and only considered to be accepted when acknowledged.
PAYMENT TERMS: Because IEM Products can be customized and are manufactured specifically for each order; our Terms of Payment are as follows: at least 50% initial payment at the time of order, and the remaining balance due paid before shipment. IEM will not acknowledge orders or begin manufacturing until initial payment has been made.
IEM will issue a Notice of Completion to the Buyer approximately one week prior to order completion to facilitate payment of balance due. IEM will not ship orders until IEM has received the balance of payment due. Other payment terms, different than those above, must be negotiated and approved by IEM prior to ordering.
CANCELLATION, SUSPENSION OF ORDERS: Cancellation or suspension of orders will be accepted by the IEM only upon terms that indemnify IEM for liabilities and expenses incurred, and for commitments made by IEM which will provide for profit on work in process, and for the contract value of Products completed and ready for shipment. Postponement of deliveries at Buyer’s request, if for a period of more than 20 days, will not be made without IEM’s approval first being obtained. Buyers who do not cancel within 48hrs of order will be charged a 30% restocking and processing fee from of the invoiced price.
STORAGE OF COMPLETED OR SUSPENDED ORDERS: IEM has the ability to store Buyer orders for a reasonable period of time, up to 30 days. If an order is completed and payment has not been received before 30 days has elapsed, or shipping instructions have not been received before 30 days has elapsed, after the Notice of Completion has been sent to the Buyer, a charge equal to 5% of the value of the order will be added to the final invoice.
TAXES: All prices, quotations, orders and agreements are subject to all Federal, State, and Local taxes. These taxes will be added to the invoice unless legal proof of exemption is provided. IEM reserves the right to invoice Buyer separately for the taxes should it be necessary to make payment where they were not included at the time of invoicing.
COST OF COLLECTION: If Buyer defaults with respect to any payment described herein, it shall pay Seller for all costs and expenses, incurred by Seller in exercising any of its rights or remedies.
CHANGES TO PRODUCT DESIGN: Since IEM is committed to ensure continuous improvement of its Products, IEM reserves the right to change the design and construction of any Product for any reason at any time.
PRICING CHANGES: IEM will publish a Specification Guide which includes a Manufacturer’s Suggested Price (“MSP”). IEM can change MSP prices without notice.
In the event of a price increase, all acknowledged orders or quotes on Registered Projects will be filled at the lower prices, provided the Buyer submits a Purchase Order within 120 days from the date of a quote from IEM.
IEM will give a best effort to announce scheduled price increases approximately 60 days before implementation, unless business conditions compel IEM to act more rapidly.
LIMITED WARRANTY: IEM warrants all Products to be free from defects in manufacturing, under normal and proper storage, installation, and use, for a period of five years from the date of shipment.
IEM reserves the right to repair or replace any product to satisfy our warranty. IEM will not provide refunds for any products. Our Limited Warranty liability extends only to the repair or replacement of the defective item or part and no labor charges for correction of the defect by repair or replacement will be paid by IEM. Labor charges for replacement of defective Products will not be accepted by IEM.