NIFTY ALLOYS LLC

Version 1 – June 2021

INTERPRETATION

In these conditions:

Buyer means the company, firm, body, or person who purchases Goods or Services from the Company.
Company means NIFTY ALLOYS LLC (Company Number 948414), having its registered office at Ras Al Khor Ind. Area - 2, Ras Al Khor, Dubai, UAE. P.O. Box: 455084.
Contract means the contract between the Company and the Buyer for the sale and purchase of Goods and/or the provision of Services, which is governed solely by these conditions of sale unless agreed otherwise in writing by the Company.
Goods means the goods (or any part of them) agreed in the Contract to be sold by the Company to the Buyer including all materials supplied in connection with the Services.
Order means a purchase order in respect of the Goods and/or Services issued by the Buyer to the Company, together with all specifications and other documents referred to in it.
Services means testing, treatment, and other services (or any part of them) involving the use of materials provided by the Company (whether belonging to the Company or not) agreed in the Contract provided by the Company to the Buyer.
Specification means any specification of the Goods or Services, including related plans and drawings, that is agreed in writing by the Buyer and the Company.

CONTRACT

All quotations from the Company, whether written or verbal, are valid for 7 days from the date of quotation and are subject to stock availability.

All Contracts and Orders are accepted and executed by the Company on the understanding that the Buyer is bound by these conditions of sale to the exclusion of all other terms and conditions. All terms and conditions appearing in or referred to in an Order or otherwise stipulated by the Buyer or which are implied by trade, custom, practice or course of dealing shall have no effect unless otherwise agreed and confirmed in writing by the Company.

An Order shall only be deemed to be accepted when the Company issues a written acceptance of the Order, at which point the Contract shall come into existence based solely upon these conditions.

PRICES

Prices quoted do not include VAT. VAT will be added to invoices issued by the Company. No VAT will be added to invoices where valid evidence of export is provided by the Buyer within the time limits specified by FTA.

All Goods are sold “ex-works” and therefore the price of the Goods is exclusive of the costs and charges of packaging, insurance, and transport of the Goods, which shall be invoiced additionally to the Buyer unless otherwise stated.

TERMS OF PAYMENT

Payment in cleared funds must be received by the Company before despatch of goods, unless agreed otherwise in writing by the Company. Where credit terms are extended, all invoices must be paid in full by the end of the month following the month of invoice or on such other terms as the Company may agree in writing.

Failure to pay any invoice in accordance with the above terms shall entitle the Company, at its sole option, to suspend further deliveries under the Contract with the Buyer and/or to terminate the Contract and all or any other Contracts with the Buyer.

Interest shall be payable on overdue accounts calculated on a day-to-day basis on the amount outstanding at a rate of 4% above the base rate published from time to time by our local Bank in Dubai. Such interest shall run from the due date for payment until payment of the sum due has been made in full.

DELIVERY

Times or dates for delivery are business estimates only, and not a contractual obligation of the Company. The Company will not be liable in any circumstances for the consequences of any delay in delivery or performance or failure to deliver or perform.

SPECIFICATIONS

When material specifications or other special requirements are specified by the Buyer, such information must be supplied in writing to the Company at the time of Order confirmation.

RESERVATION OF TITLE TO GOODS

Unless otherwise agreed in writing by the Company, risk in the Goods passes to the Buyer when these Goods are despatched from the Company’s works.

LIMITATION OF LIABILITY

Goods are supplied by the Company in accordance with the material specifications agreed in the Contract. No warranty, guarantee, indemnity, or other commitment as to the fitness for purpose of the Goods is given by the Company.

WARRANTY

The Company undertakes to credit the Buyer, to the extent of the purchase price only, for any Goods found to have a defect in quality or condition.

CLAIMS FOR DAMAGE, SHORTAGE OR LOSS

Where Goods are delivered by the Company’s own vehicles, no claim for damage in transit, shortage, or loss of Goods will be entertained unless notice is given to the Company within three days of receipt of the Goods, followed by a complete claim in writing within seven days of receipt of the Goods.

TERMINATION AND SUSPENSION

The Company may stop all Goods in transit and suspend further deliveries if the Buyer defaults on payment.

FORCE MAJEURE

The Company shall not be responsible for failure to fulfil its obligations to a contract, or be under any liability to the Buyer, in respect of events beyond its reasonable control.

INTELLECTUAL PROPERTY

The Buyer acknowledges that any and all intellectual property rights in any Goods supplied by the Company to the Buyer shall belong to and remain the sole property of the Company.

LAW AND JURISDICTION

These Conditions, and any subsequent Contract between a Buyer and the Company, shall be subject to and construed in accordance with UAE Law.