TERMS AND CONDITIONS

            Silicon Valley Shelving & Equipment Co., Inc. (“Seller’s”) offers to furnish the above-listed items at the above-listed prices is expressly conditioned upon Buyer’s acceptance of the following Terms and Conditions:

·        Quoted unit prices are based on the listed quantities.  Should Buyer order less than the listed quantity of any item, Buyer shall be liable for Seller’s unabsorbed tooling costs, and for any non-returnable material and work-in-progress.  Buyer may cancel the order upon ten (10) days written notice.  If Buyer cancels the order, Buyer shall pay for Seller’s unabsorbed tooling costs, and for any non-returnable material and work-in-progress.  

·        Seller is not liable for any consequential damages incurred by Buyer or Buyer’s customers.  Buyer’s sole and exclusive remedy is refund of purchase price or repair or replacement of Seller’s product.

·        Any contract or sale resulting from this Quotation shall be governed by California law, and any dispute arising out of this Quotation or any resulting contract or sale shall be submitted to binding arbitration pursuant to the Commercial Arbitration Rules of the American Arbitration Association.  Said arbitration shall take place in Santa Clara County, California.  The prevailing party in said arbitration or other legal action shall be entitled to recover its reasonable attorneys’ fees and costs from the other party.

·        Seller warrants to Buyer that the Products will conform to the referenced specifications and will be free from defects in materials or workmanship for one year after delivery.  Seller makes no other representations, warranties or guarantees, and expressly disclaims any statutorily imposed or otherwise implied warranty of merchantability, of fitness for a particular purpose, or arising from course of performance, course of dealing, or usage of trade.  

·        Seller's invoices are due and payable immediately upon delivery.  After ninety (90) days, Seller shall be entitled to recover a charge equal to eighteen percent (18%) per annum to compensate Seller for interest, administrative and management burden associated with the past due account.

·        In the event there is any conflict in these Terms and Conditions and the Terms and Conditions stated in any Buyer documentation, Seller's Terms and Conditions shall control and Buyer agrees to all these Terms and Conditions in inducing Seller to do business with Buyer.