RICMAS International Pte. Ltd.

Standard Sales Terms and Conditions

The Terms and Conditions (“Terms”) contained herein shall apply to all quotations and offers made by and purchase orders accepted by RICMAS International Pte. Ltd. (“RICMAS”). These Terms apply to all sales made by RICMAS except to the extent the Terms conflict with an existing individual customer contract where special terms and conditions (signed by RICMAS and Buyer) may take precedence over this document. These Terms apply in lieu of any course of dealing between the parties or usage of trade in the industry. These Terms may in some instances conflict with other terms and conditions referenced to. In such case, the Terms contained herein shall govern, and acceptance of Buyer’s order is conditioned upon Buyer’s acceptance of the terms and conditions herein, irrespective of whether the Buyer accepts these conditions by a written acknowledgement, by implication, or acceptance and payment of products ordered hereunder. RICMAS’s failure to object to provisions contained in any communication from Buyer shall not be deemed a waiver of the provisions herein. Any changes in the Terms contained herein must specifically be agreed to in writing signed by a Director of RICMAS before becoming binding on either party.

    1. PRICES, TAXES AND QUOTATIONS

    Prices are subject to change without notice to Buyer. Any order that can be cancelled or rescheduled is subject to a price change immediately. All prices invoiced are not binding of any present or future sales. RICMAS is GST registered and charges GST and such taxes, when applicable, shall be paid by Buyer unless Buyer provides a proper GST exemption certificate issued by IRAS printed onto the Authority’s letter head. Unless otherwise agreed to in writing by the parties, prices quoted by RICMAS are those current at the date of quotation and remain valid until expiry. Unquoted items shall be subject to variation by RICMAS without notice to Buyer.

    2. DELIVERY

    Unless otherwise agreed in writing, sales are always EXW RICMAS's facility (delivery is ex works). RICMAS may supply products in one or more consignment and invoice each consignment separately. Unless otherwise agreed in writing, delivery time is not of the essence. RICMAS does not accept liability for any loss arising from delay in delivery of products.

    3. PAYMENT TERMS

    Unless otherwise agreed in writing, Payment terms shall be CASH ON DELIVERY or net thirty (30) days from the date of invoice if agreed upon in writing. There shall be no other payment terms accepted. Buyer agrees to pay interest on any unpaid balance at a rate of 4.5 % per month on the day the balance becomes due. Unless otherwise agreed in writing, all payments are to be in Singapore dollars. For local contracts, RICMAS may require payment to be secured by a deposit. Where payment is made other than by cable or giro, all costs of collection shall be for Buyer’s account. In the event that RICMAS is required to bring legal action to collect delinquent accounts, Buyer agrees to pay all attorney’s fees and costs of suit.

    4. BUYER OWN INVENTORY AT RICMAS FACILITY

    RICMAS may, from time to time, house materials or inventory owned by Buyer (“Buyer Materials”) at our facility (“RICMAS Facility”) in order for RICMAS to perform services for Buyer, Buyer and RICMAS agree to the terms and conditions upon which RICMAS will store such Buyer Materials.

    Buyer agrees to pay the storage and other fees associated with RICMAS’s storage, inventorying and warehousing of Buyer Materials (“Buyer Materials Warehouse Storage Fees”).

    Upon RICMAS’s receipt of Buyer Materials, Buyer agrees that it shall bear all and insure against all risk of loss at all times while such Buyer Materials are located at RICMAS Facility or while such Buyer Materials are under the direction and control of RICMAS. Unless caused by the gross negligence or wilful misconduct of RICMAS, in no event shall RICMAS be liable for any loss or damage to the Buyer’s Materials.

    In the event there is uncollected Buyer Materials for a period of three (3) months or upon expiration or termination of any written Agreement, RICMAS will use reasonable efforts to notify Buyer of any such Buyer Materials which remain under RICMAS’s direction or control and, unless otherwise agreed to in writing by both parties, Buyer shall accept C.O.D. return shipment of all such remaining Buyer Materials. In the event such Buyer Materials are returned to RICMAS, Buyer shall remain liable for all costs related to the shipment of such Buyer Materials and RICMAS shall have the right to destroy, resell or otherwise dispose of such Buyer Materials and Buyer shall be liable for all costs and expenses related thereto, including but not limited to all costs of shipment, destruction, resale, enforcement of and collection, including reasonable attorneys’ fees.

    5. FORCE MAJEURE

    RICMAS shall not be liable for any damage or penalty for delay in delivery or for failure to give notice of delay when such delay is due to the elements, acts of god, acts of the Buyer, act of civil or military authority, war, riots, shortages of materials, or any other causes beyond the reasonable control of RICMAS. The anticipated delivery date shall be deemed extended for a period of time equal to the time lost due to any delay excusable under this provision.

    6. APPLICABLE LAW

    Unless otherwise agreed in writing, the terms and conditions contained herein shall be governed by and construed under the laws of Singapore. Any dispute arising from or in connection with these Standard Terms and Conditions will be brought before the competent court in Singapore.

SPECIFIC SALES CONDITIONS

WARRANTY CONDITIONS

Effective June 1, 2016

Copyright © 2016 RICMAS International Pte. Ltd. • Singapore June 1, 2016