Offer & Acceptance These terms and conditions (these "Terms") are deemed part of all quotations, acknowledgments, invoices, purchase orders and other documents relating to the sale of goods and services (the "Goods") by Seller. If these Terms differ in any way from any purchase order, release, or other document from Buyer, these Terms shall not be acceptable and not binding upon Seller without express written consent.  All proposals, negotiations, representations, recommendations, statements or agreements made or entered into prior to or concurrent to this Contract are excluded.


Delivery & Packaging (a) Dates Delivery and shipment dates are estimated dates only and not guaranteed, (b) Partial Shipment Each partial shipment is deemed a separate contract for the delivered Goods, (c) Shipment Terms All shipments are freight collect - FOB shipping point and Seller reserves the right to select transportation methods and routing, (d) Packaging Seller will package Goods as it deems appropriate for protection against normal handling unless specific instructions are given by Buyer and accepted by Seller in which case extra charges may apply, (e) Risk of Loss Risk of loss will pass to Buyer upon tender by Seller at the point of shipment defined as Seller's dock.


Pricing & Payment (a) Pricing No price quotation will remain effective for more than 30 days unless the quotation expressly provides otherwise. The price does not include taxes, duties, fees, assessments, or other charges imposed by any governmental authority. Prices are subject to change without notice, and prices in effect on the shipping date will govern. Any increases in freight rates or transportation charges before shipment will be the responsibility of Buyer. Prices are also subject to increase for any taxes, duties (Including anti-dumping and countervailing duties) or other charges imposed on Seller by any governmental authority for the sale, delivery, or use of the Goods, (b) Payment Terms of payment are net 30 days from the invoice date. If Buyer fails to make any payment when due, Seller reserves the right to discontinue shipments. Buyer agrees to pay Seller’s customary late and interest charges for any failed or late payments.


Inspection Buyer promptly shall inspect all delivered Goods. If Buyer does not inspect any Goods within five days of delivery, Buyer is deemed to have waived its right to inspect and to accept the Goods. Buyer must report to Seller shortages or defective Goods within ten days of receipt. Buyer may not return Goods without Seller's written consent and a Returned Material Authorization (“RMA”) number issued by Seller. Buyer’s acceptance shall be final and irrevocable.


Cancellation Orders approved and accepted by Seller shall constitute firm commitments of Buyer and are not subject to cancellation or rescheduling. Orders for non-standard Goods may not be canceled at all and such Goods may not be returned for credit.


Indemnities Buyer shall indemnify and hold harmless Seller, its employees and representatives from and against all liabilities, claims, actions, costs, expenses and disbursements (including attorney's fees and disbursements) related to any investigation, litigation, or other proceeding (whether or not Seller is a party thereto) which arises or is alleged to arise from Buyer's acts or omissions under these Terms. Without limiting the foregoing, Buyer shall Indemnify and hold harmless Seller and defend or settle any action brought against Seller to the extent that it is based on a claim that any Good made to Buyer specifications infringed intellectual property rights of another party.


Confidentiality & Inventions (a) Confidentiality All information and materials supplied by Seller to Buyer relating to the Goods are confidential and proprietary, and Buyer shall limit distribution thereof to its trusted employees and use its best efforts to preserve the confidentiality thereof, b) Inventions Etc. If Seller or any of its affiliates makes a discovery or invention pertaining to any research, development or design work contemplated hereby, such discovery or invention shall be the sole property of Seller and licensing shall be at the discretion of Seller.


Force Majeure Seller shall not be liable for any delay or failure in delivery resulting from circumstances beyond its reasonable control, including, but not limited to, earthquakes, fires, floods, strikes or other labor disputes, civil unrest, shortage of labor or materials, accidents to machinery, acts of sabotage, riots, explosions, energy shortages, delay in or lack of transportation due to container shortages and port delays, or acts of any government authority.


Miscellaneous (a) Waiver No failure or delay by Seller in exercising any right and no course of dealing between Buyer and Seller shall operate as a waiver of rights by Seller, (b) Assignment Buyer may not assign its rights hereunder without the Seller's written consent, (c) Law Illinois law (without regard to conflict of law principles) governs, (d) Amendment This Agreement constitutes the entire agreement between Buyer and Seller relating to the Goods, and no provision may be changed or waived unless in writing signed by the parties, (e) Severability if any provision hereof is rendered ineffective or invalid, such provision shall not invalidate any other provision, (f) Setoff All claims hereunder by Seller are subject to setoff by Seller for any counterclaim arising out of any transaction with Buyer, (g) Tooling All materials, equipment, facilities and special tooling Seller uses to manufacture Goods shall remain the property of Seller.


Warranty (a) Exclusive Warranty The exclusive Seller warranty is that the Goods are free from defects in materials and workmanship for one year from the date of shipment. This warranty is extended solely to Buyer and not to any successive buyers, users, or other third parties. It is expressly agreed that the entire warranty given to the Buyer is contained in this writing. Seller does not warrant any defects in, damage to, or failure of products caused by: i) dynamic vibrations imposed by the drive system in which such products are installed unless the nature of such vibrations has been defined and accepted in writing by Seller as a condition of operation; (ii) failure to provide a suitable installation environment; (iii) use for purposes other than those for which designed, or other abuse or misuse; (iv) unauthorized attachments, modifications or disassembly; or (v) damage during shipping. Buyer's care in selection, adequate testing at time of installation, and proper installation, operation and maintenance of all Products is required for adequate performance.


Disclaimer of Warranty SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, ABOUT THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE GOODS. BUYER ACKNOWLEDGES THAT IT ALONE HAS DETERMINED THAT THE GOODS WILL SUITABLY MEET THE REQUIREMENTS OF THEIR INTENDED USE. SELLER DISCLAIMS ALL OTHER EXPRESS WARRANTIES. (b) Buyer Remedy The exclusive remedy of Buyer as to any Good is that Seller shall repair or replace (at Seller’s option) the Good (with Buyer responsible for labor charges for removal or replacement thereof), such obligation being subject to the following: (i) the Good's application was approved by Seller; (ii) Buyer delivers the Good to Seller with transportation charges prepaid; and (iii) analysis by Seller verifies that the Good was properly handled, installed, maintained, lubricated and not subject to abuse, misuse or inappropriate modification. (c) Damage Limits/Limits of Liability  SELLER, ITS OFFICERS, DIRECTORS, EMPLOYEES OR ASSIGNS SHALL NOT BE LIABLE FOR ANY OTHER DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, INJURY, LOSS OF PROFITS OR COMMERCIAL LOSS IN ANY WAY CONNECTED WITH THE GOODS, WHETHER SUCH CLAIM IS BASED IN CONTRACT, WARRANTY, NEGLIGENCE OR STRICT LIABILITY. Further, in no event shall liability of Seller for any act exceed the price of the Good on which liability is asserted. Buyer must commence any action within one year after the sale of such Good by Seller.


Revised April 2021


Conflict Mineral Free Statement

Tantalum, tin, gold and tungsten are not in PEER Chain Company’s product, nor are they necessary to the functionality of our products. The non-scrap/non-recycled portion of the metals does not originate from, or transit through, the Democratic Republic of Congo or an adjoining country: Angola, Burundi, Central African Republic, Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda or Zambia.