Formation
Website content and enquiries are not offers. A transaction is formed only by authorized written acceptance under the stated quotation, contract or purchase order hierarchy.
Product and quantity
The transaction schedule should identify product, producer where material, grade, measurable specification, tolerances, quantity, unit, packing, marking, substitution controls and any samples or drawings.
Price, tax and payment
Currency, unit price, total, validity, payment milestones, bank charges, taxes, duties, documentary conditions and bank verification procedures must be stated. No party should rely on changed payment instructions without independent verification.
Delivery, risk and title
State the Incoterms® 2020 rule and exact named place or point, schedule, partial-shipment position, transport responsibilities and documentary milestones. Risk and title are separate concepts and must be addressed expressly.
Inspection and claims
Define inspection party, scope, sampling, standards, acceptance, notice periods, evidence, mitigation, survey and available remedies. Latent-defect treatment depends on product and applicable law.
Compliance and force majeure
Each party should provide information and cooperation for sanctions, export, customs, anti-bribery, product and destination compliance. Force-majeure and change-in-law treatment must be tailored to the deal.
Liability and disputes
The final contract states applicable warranties, exclusions, liability limits, governing law and dispute forum.