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As stated herein, “seller” is Peterson Tool Company and “buyer” is the recipient of the quotation and/or the end user of the tooling.

1: Quotations: All quotations are offered for acceptance within ninety (90) days unless specified on the quotation, if not accepted within the designated period the quote shall be deemed withdrawn. Seller’s acceptance of any order is contingent upon approval of buyer’s credit.

2: Approval drawings: If the approval drawings are not returned from the buyer within three (3) business days, the quoted delivery schedule shall be adjusted by the delay in print approval.

3: Order Acknowledgement: Seller reserves the right to rescind any quotation at any time.  All orders received by seller will be acknowledged within three (3) business days.  The minimum order amount is $100.00 USD or subject to additional fees. Seller reserves the right to ship ±10% of the insert order quantity unless otherwise noted by the buyer.

4: Cancellations: Orders may be canceled or have deliveries deferred only upon the condition that the buyer assumes immediate liability and makes payment for all work completed and in process. Such charges shall include raw material, unamortized tooling, engineering, handling, overhead, and production costs. Such charges to be determined at the time of cancellation or deferment.

5: Prices: The prices quoted are valid only for the proposal in which they are contained and may not be utilized as a basis for pricing similar, repeat, or subsequent testing.

6: Payment: All sales, if on credit, are net thirty (30) days from date of shipment, unless otherwise specified on the invoice. Buyer shall pay for all collection costs, attorney’s fees and court costs incurred in collection, regardless of whether judicial action is taken or otherwise.

7: Expediting Fees: Orders may be expedited for an earlier delivery date than acknowledged for a nonrefundable fee. Expedite ship dates are the best estimate within two business days, otherwise prorated fees may apply. All expedited orders will ship according to the method on the buyer’s purchase order.  The seller accepts no responsibility for the delay in transit or delivery.

8: Warranty: Seller warrants that goods manufactured will conform to the drawings and specification furnished by the buyer. There are no other warranties, expressed or implied, either of merchantability or fitness for purpose.

9: Limited Liability: Seller’s liability shall be limited to the amount of the quotation. The foregoing states the seller’s entire and exclusive liability. In no event will the seller be liable for consequential or special damages arising from any defect or use of its products; any representations made by or on behalf of the seller are void.

10: Return Policy: Returns are not accepted unless authorized by seller’s quality, service or engineering departments.

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