Spectra Test Equipment - Terms and Conditions

Terms and Conditions

Acceptance – The following are terms and conditions agreement applicable to the rent, lease, purchase and contest awards of equipment from Spectra Test Equipment, Inc. ( Spectra). Upon the execution of customers order, this agreement of terms and conditions becomes exclusive and binding between Spectra and the customer. No provisions of any purchase orders submitted by customer, and no waiver, alteration or modification of any of the provisions presented shall be effective or binding upon Spectra, unless approved of in writing and signed by an officer of Spectra.

Pricing – The pricing information provided to our customers is based on market demand and availability. Spectra’s vast inventory is updated on a regular basis and pricing/availability is subject to change.

Terms of Payment – Domestic payment terms are Net 30 days upon credit approval for all orders originating in the United States. Payment terms are C.O.D. or credit card pre-payment for non-established accounts. Export orders payment terms are pre-payment via bank wire transfer, LC irrevocable line of credit, or credit card transaction.

Late Charges – Payments are delinquent (10) days after net due date of the invoice and are subject to interest charges per annum up to the maximum rate permitted by law. Spectra reserves the right to charge the credit terms at any time when, in Spectra’s opinion, customers financial condition or previous payment record so warrants.

Limitation of Liability – Spectra shall not be responsible for direct, indirect, general, special, consequential or other loss or damage, including loss of profits, whether based on contract, tort or other legal theory. Customer shall indemnify Spectra for injury to persons and property damages related to the use of the equipment.

Title / Ownership

Rentals – Title to all equipment remains the property of Spectra at all times.

Sales/Lease – Title to all equipment remains the property of Spectra until payment of all purchase prices of equipment has been fulfilled. Customers are precluded from altering, assigning, modifying or encumbering in any way on equipment that is the property of Spectra.

Taxes – Prices do not include any taxes. All applicable sales tax will be added to the invoice as required by law to be billed and collected. These taxes are to be paid by the customer unless the customer provides a proper tax exemption certificate.

Warranties – Spectra warranties each equipment meets manufacturers specifications throughout the period after purchase. Equipment rentals shall be warranted throughout the rental period. Rental credit shall be issued for any period an equipment does not meet this warranty. A written notification is required within (3) days of the start of such period.

Shipments – Customer shall pay for delivery and handling charges, all taxes and governmental charges in connection with the rental, lease, purchase, and possession of equipment. Customer shall pay for insurance coverage on the shipment of equipment to and from customers location.

Rentals – All equipment, manuals and accessories shall be returned to Spectra prepaid and insured. Any shipping and handling charges not prepaid will be billed back to the customer. Customer shall return equipment back to Spectra in good operation condition.