Contract for Sale & Purchase
This Contract for Sale & Purchase of Goods (the "Contract") are entered and all subsequently accepted by Jindal Bullion Limited and customer. While dealing with Company M/s Jindal Bullion Limited. Customer has accepted all the terms and conditions of the (Sale & Purchase Contract) and will be binding upon the both parties of the contract. This Contract shall begin from the date customer decide on Purchase/Sale and will remain in effect up till completion of the deal.
Term of Contract:
Booking: Customer have to deposit 5% of the proposed order (Buy/Sale) at current market price, since the spot prices of gold and silver are volatile in nature, so our product prices change so often, Customer has opportunity to lock in the price as and when they find it convenient. Once Booking of price is done, it could not be changed. In exceptionally circumstances Customer could cancel the deal on the prevailing market price. Customer should ensure that their deposit must not go below 1.5% of total amount of their pending order.
2. Payment: Once Customer have locked the price of their choice they have two payment options
Case (I) when customer purchases
a) Payment within two working days.
b) Deferred payment is allowed for period of 6 months. The cost of fund applied by the company to secure booked stock will be charged on balance amount from Customer @ 0.03% per day over balance value of the deal finalized.
Case (II) when customer Sales
a) Once the company received and confirmed standard of goods, Payment will be made within two working days or immediately. b) If customer is not able to deliver the goods to the company within two working days. Company will charge cost of funds @ 0.03% per day on the amount allocated for that deal.
3. Delivery: Delivery of the goods will be made on receipt of full and final payment. In case the Customer chooses "Deferred payment "Delivery will be made on completion of the payment. Customer can take delivery form our delivery centers or opt for shipping option. The actual costing of postal delivery and insurance will be added to their billing.
4. Risk of Loss: The risk of loss from any casualty to the Goods, regardless of the cause, will be the responsibility of the Jindal Bullion Ltd in case of our sale or in case of purchase it will be Customer responsibility unless the Goods have been received by Company.
5. Acceptance: Customer will have the right to inspect the goods upon receipt, and within 7 ( seven) business days after delivery, must give notice to company of any claim for damages on account of condition, quality, or grade of the goods, and you must specify the basis of the claim in detail. Failure of to comply with these conditions will constitute irrevocable acceptance of the goods by Customer. All notices between the parties must be in writing and delivered by courier or by certified mail, return receipt requested.
6. Charges: There is no additional or hidden cost in our product price as our prices includes VAT and all taxes. We shall invoice you upon and for each deal completed. In case Customer Opted for 'deferred payment' the cost of holding will be charged only on the balance outstanding. Any late payment beyond the period of payment opted by the Customer shall bear a late payment charge of 2%.
7. Deposit: Upon signing this Contract, Customer shall pay to the company a deposit of 5% toward the total price of the deal, as a precondition for customer's performance for fixing the price. All the deposit will be adjusted in the last invoice.
8. Warranty: We warrants that the goods sold hereunder are new and free from substantive defects in workmanship and materials. Ours liability under the foregoing warranty is limited to replacement of goods or repair of defects or refund of the purchase price at Seller's sole option. No other warranty, express or implied, is made by us, and none shall be imputed or presumed.
9. Taxes: All sales taxes and other government taxes are included in the sale cost to be paid by Customer except as Limited by Law. In case of sale by customer to the company Vat @ 1% will be subtracted from sale price if the customer is not a registered sales tax dealer (Retail Customer)
10. Governing Law: This Contract shall be governed by the laws of the State of Delhi. Any disputes hereunder will be heard in the state /courts located in Delhi (INDIA).
11. Force Majeure: Jindal Bullion Limited may, without liability, delay performance or cancel this Contract on account of force majeure events or other circumstances beyond its control, including, strikes, acts of God, political unrest, embargo, failure of source of supply, or casualty.
12. Miscellaneous This Contract contains the entire Contract between the parties and supersedes and replaces all such prior Contracts with respect to matters expressly set forth herein. No modification shall be made to this Contract except in writing and signed by both parties. This Contract shall be binding upon the parties and their respective heirs, executors, administrators, successors, assigns and personal representatives.