TERMS AND CONDITIONS OF SALES
Revision: 03
Terms and Conditions of Sale
Revision: 3
1. Prices:
1.1. Prices quoted are Ex-Our factory, except when explicitly mentioned in the quote otherwise.
1.2. Prices are exclusive of any government taxes e.g: VAT, Excise, Cess, Octroi and the same shall be applicable extra at the time of dispatch.
1.3. Prices do not include Commissioning, Installation and training, unless explicitly mentioned in quote. If required, quote for the same needs to be separately obtained.
1.4. Octroi or any other local charges shall be borne and arranged for by the purchaser.
2. Insurance:
2.1. Needs to be borne and arranged by the purchaser, unless explicitly quoted otherwise.
2.2. Transit damage is not covered under warranty, even if transport is arranged by Versatile.
3. Mode of Dispatch:
3.1. Considering the fragile nature of goods
3.1.1. For Domestic deliveries: Versatile recommends special vehicle or carriers such as Gati, BlueDart, DTDC etc.
3.1.2. For International deliveries: Versatile recommends air mode shipments.
4. Dispatch of Goods:
4.1. Dispatch period is generally mentioned on the quote and starts from issuance of Order Confirmation after receipt of technically clear and commercially agreed order along and date of receipt advance payment, whichever is later.
5. Payment:
5.1. An advance needs to be paid, as per decided terms and, a commercially clear purchase order as per provided quote needs to be received by Versatile for the committed delivery period to start & balance payment should be made against Performa-invoice before dispatch of material.
5.2. Note: Purchaser are advised to make payment within 15 Days from the date of issue of Performa invoice and collect material from Versatile’s works, failing which the material will be diverted to other purchaser and advance paid by the purchaser will be forfeited after 6 months from the date of Performa invoice at purchaser’s risk and cost.
5.3. All payments to be made in favour of Versatile Equipments Pvt Ltd, on the banking details mentioned on the quote.
5.4. Mode of payment:
5.4.1. At par Cheque/DD: Versatile shall wait for the clearance of cheque to declare actual realization of payment and start of delivery period.
5.4.2. RTGS/NEFT/SWIFT payments are accepted and banking details shall be provided along with the quote.
5.4.3. UPI payments are accepted for smaller domestic payments less than 10000 INR.
5.5. Versatile shall wait for the clearance of the same to declare actual realization of payment and start of delivery period.
5.5.1. Cash payment:
5.5.1.1. Cash payments are acceptable ONLY in case of delivery of cash by customer to our office at the address mentioned on the quote/Order confirmation / Performa Invoice.
5.5.1.2. Customer is expected to obtain system generated Payment receipt signed by Director of the company in such case.
5.5.1.3. Customers are advised against paying any cash to any personnel in organization in any case except as mentioned in the Points 5.5.1.1 and 5.5.1.2
5.5.1.4. In case of cash payment customer may need to furnish a photocopy of PAN card, if required as per government norms.
5.5.1.5. For international customers, cash, is not an accepted payment ption.
5.6. Interest on defaulted payments:
5.6.1. In case of supply of goods on credit, the purchaser will have to make the payment within stipulated period. In case the purchaser fails to make payment within the stipulated period, Purchaser will have to pay interest at 21% PA on the invoice value from the date of invoice, till actual payment is received. Every purchaser having credit facility will have to settle and clear their account before 31st of March of the relevant financial year. Versatile shall not entertain any correspondence for waiving off penal interest.
6. Ownership of the Property/Goods shall not be considered to have passed on to the Purchaser unless fully paid for the dispatches or supplies so affected.
7. Forms: Wherever it may be required, Purchasers are requested to send, in their own interest, S.T/CST/Octroi/ Excise/ tax exemption forms along with the order. If No forms are received by Versatile in advance, it shall be considered, that Versatile should charge all taxes/ Levies at full rate as applicable. No claim shall be entertained after invoices are prepared.
8. Road Permits/E-Way bill/E-sugam and the likes of the same if required before dispatch of the goods, are to be furnished along with the purchase order or on demand, any delay in furnishing the same shall be purchasers responsibility.
9. Deemed Export (Sales to EOUs): Purchasers are requested to co-ordinate and produce requisite forms to avail tax exemption/concession. This activity shall be considered the responsibility of the purchaser only. Copy of Bill of lading evidencing the export made should be sent to Versatile within three months from the date of Dispatch from Versatile. Versatile reserves full rights to recover the excise and/or any other duty and/or taxes duty in case proof of export is not submitted within the stipulated period. If Any export documents are to be additionally certified by government authority or such services to be rendered by Versatile, incidental costs shall be charged extra and shall be borne by Purchaser.
10. Validity:
10.1. Our Offers and quotations are valid for 30 days from the date of the Quotation, unless explicitly mentioned otherwise on the quote.
11. Unless explicitly mentioned, our offers and quotations do not include charges such as installation, erection, commissioning, maintenance, training of purchasers operators, inspection etc.
12. Order Cancellation:
12.1. Each Purchase order received by Versatile shall be confirmed by issuing a Order confirmation. Once Order confirmation is issued, modification in part or full will be accepted if confirmed by Versatile in writing to the purchaser. In such cases at Discretion of Versatile, may charge minimum 50% to 100% of the order value, as order modification charges.
12.2. Cancellation of order is acceptable once order in confirmed, in such a case, purchaser shall forfeit the advance paid against the order.
13. Inspection:
13.1. Inspection of the ordered goods should be conducted at Versatile premises if needed by purchaser. Quantifiable inspection parameters should be intimated to Versatile along with Purchase order and confirmation needs to be obtained from Versatile regarding the same.
13.2. Inspection report/Shipping release/Dispatch clearance should be furnished on Completion of inspection at Versatile’s factory; any delay in this regard will be at risk/ responsibility of the purchaser and subject to point 5.2 in this document.
14. Transit Risks and Breakages:
14.1. Versatile shall be relieved of responsibility of safe custody of invoiced material once dispatched from Versatile premises.
14.2. Purchasers are required, in their own interest, to Insure the goods at their expenses against possible losses, theft, damages to the goods etc.
14.3. In case of any damages and/or theft and/or losses of goods in transit, Versatile is neither responsible nor liable to replace the goods free of cost.
14.4. Taking appropriate steps against transporter or claiming insurance would be responsibility of the purchaser. Versatile does not hold any responsibility or liability towards such eventualities. Such eventualities do not deprive Versatile of its right to recover payment against invoices/losses.
15. Warranty:
15.1. WARRANTY IS ONLY APPLICABLE TO CUSTOMERS WHO ARE FIRST (1ST) PURCHASER TO WHOM THE GOODS ARE BILLED. THE WARRANTY IS A CARRY-IN (Return to bench) WARRANTY AND NOT AN ON-SITE WARRANTY.
15.2. What is Covered:
15.2.1. Versatile warrants to the Original Purchaser only of new Versatile Products, purchased directly from Versatile for their own use and not for resale that, Versatile products are manufactured, tested and calibrated at our works to suite standards requirements or specifications as per quotation. Warranty is valid for 1 year from the date of invoice from Versatile subject to other clauses in this document.
15.3. What is not Covered: This warranty becomes void and does not cover any Versatile products when:
15.3.1. Modified, altered, subject to abuse, misuse, negligence or accident.
15.3.2. Improperly installed or installed in conjunction with other equipment for which it is not designed for.
15.3.3. Damaged or destroyed by disasters and/ natural calamities. ii. In no event, Versatile shall be liable for
15.3.4. Any special, incidental, consequential or other damages, cost or expenses (Including but, not limited to loss of time, loss of profit, loss of revenue, loss of intangible/tangible gain, inconvenience or loss of use of any equipment)
15.3.5. Consequential damage arising out of failure of product, injury caused to any human being or live stock.
15.3.6. Damages caused to plant, building, tangible/ intangible assets and/or direct or indirect losses due to product failure.
15.3.7. Normal wear and tear
15.4. Remedies: The following remedies constitute the purchasers sole and exclusive remedies and Versatile’s sole and exclusive obligations under this warranty. If defective product is returned to Versatile as per procedure described below,
15.4.1. Versatile will at its sole option and expense offer
15.4.1.1. Repairs to the defective product
15.4.1.2. Replacement of defective product
15.5. Warranty Procedure:
15.5.1. If the purchaser discovers failure of Versatile product conforming to the terms of this warranty, within the specified period, the purchaser must promptly (and not in any event more than 30 days from the date of dispatch) notify the relevant defect in the manner described below.
15.5.2. Customer must obtain “Return authorization Order (RAO)” from Versatile and return the product to Versatile
15.5.3. The designated RAO should be marked on the outside of the package and all correspondence related to the defect should accompany with documents.
15.5.4. Purchaser shall return at purchaser’s expense, the defective product only on receiving the RAO document and number.
15.5.5. In order to avoid process delay, please be sure to include COPIES of the original Purchase order, Original gate pass, sales invoice and RAO; The purchasers name, address and phone number, model and serial number of returned product and detailed description of the alleged defect.
15.5.6. The goods to be returned should be returned and later picked up by purchaser in securely packed condition and on “Freight and tax paid door delivery” basis to & from Versatile.
15.6. Warranty Period:
15.6.1. Warranty period shall be 1 year or 2500 testing cycles whichever comes first from the date of Original Purchase invoice.
16. Purchasers responsibility:
16.1. Purchasers are suggested to check suitability of the offered equipment for the process, material or any other aspect before placing the order; Versatile does not accept any liability of any sort on account of the same.
16.2. When purchaser places order, it is taken for granted that, the purchaser has understood the model codes, specifications, operations, failure risks, drawings, risk of availability of spares etc and considering all these factors, purchaser has placed order on Versatile, with accepted limitations. No complaint shall be entertained regarding material, configuration, construction etc after the goods are manufactured or dispatched.
17. Errors in Prices, descriptions and inclusions:
17.1. Versatile reserves the right to correct all typographical or clerical errors, which may have been committed as regard to prices, descriptions, specifications and inclusions in quotations, order confirmations & Performa Invoices etc.
18. Force Majeure:
18.1. Versatile Shall not be liable for loss, damage, detention or delay due to force majeure conditions such as fire, strike, war, insurgencies, riots, power shortage, floods, natural calamities and other causes beyond Versatile’s control.
18.2. Versatile shall not be liable for delay in supply due to unforeseen circumstances as fire, strike, war, insurgencies, riots, power shortage, floods, natural calamities and other causes beyond Versatile’s control.
19. Jurisdiction:
19.1. All contracts between Purchaser and Versatile shall be subject to Kolhapur Jurisdiction and shall be governed by Indian Law.
20. Litigation:
20.1. All expenses and costs in connection with litigations, if any, will be to purchasers account.
21. Rights Reserved: We reserve our rights
21.1. To amend or revise terms and conditions of sale without any prior notice, after validity of quote expires.
21.2. To amend/revise/increase the price shown in our offer and/or quotations without any advance intimation after expiry of validity of the quote.
21.3. To change design, shape, size, technical data, specifications, model codes and numbers without advance intimation.
22. These terms and conditions shall supersede all earlier terms and conditions.
23. Spares supply policy:
23.1. Versatile endeavours to supply spares to its products but, due to continuous upgradation and technology changes, Versatile shall be able to support the same for 3 years from the date of invoice; there after no guarantee is given for interchangeability or fitment of the spares, in such case custom built spares may be ordered by acquiring a separate quotation.
24. Placement of Order on Versatile shall imply and mean confirmation of the terms and conditions in this document by Purchaser.
25. IoT-Enabled Devices, Data Protection, Privacy, and Subscription Services
25.1. IoT Connectivity and Functionality
25.1.1. Certain Versatile products (“IoT-Enabled Devices”) may incorporate internet-connectivity features and may transmit data to and from Versatile’s servers or third-party services (such as your own). The Purchaser acknowledges that continuous and stable access to the internet is required for IoT features to function.
25.1.2. IoT features may include remote monitoring, diagnostics, usage analytics, firmware updates, and integration with third-party software or platforms. Versatile makes no guarantee of uninterrupted or error-free connectivity or data transmission.
25.2. Data Collection and Usage
25.2.1. By using IoT-Enabled Devices, the Purchaser consents to Versatile’s or its authorized service providers’ collection, use, processing, storage, and transmission of technical, performance, and usage data related to the device. This data may include, but is not limited to, operational parameters, device configuration details, logs, and other non-personally identifiable information.
25.2.2. Versatile uses this data primarily for the purpose of improving product performance, diagnosing technical issues, providing customer support, and enhancing product features. Unless otherwise agreed in writing, Versatile does not claim ownership of data that is solely generated by the Purchaser’s use of the IoT-Enabled Device and that is unique or proprietary to the Purchaser’s operations.
25.2.3. Versatile shall implement commercially reasonable technical and organizational measures to protect collected data against unauthorized access, disclosure, alteration, or destruction. However, Versatile does not guarantee absolute security and shall not be liable for any damages resulting from a data breach or unauthorized access due to circumstances beyond its control.
25.3. Privacy
25.3.1. If the Purchaser provides any personally identifiable information (e.g., contact details for authorized users), such information will be handled in accordance with Versatile’s applicable Privacy Policy, which shall be made available upon request or accessible on Versatile’s website.
25.3.2. The Purchaser agrees to comply with all applicable data protection and privacy laws in relation to their own handling of any data acquired through IoT-Enabled Devices and acknowledges that Versatile is not responsible for the Purchaser’s misuse of data or failure to comply with such laws.
25.4. Subscriptions and Fees
25.4.1. Certain IoT features, advanced analytics, extended data storage, enhanced support, or integration capabilities may require a separate subscription or service fee, as indicated in Versatile’s quotation or related documentation.
25.4.2. If the Purchaser fails to pay any required subscription fees on time, Versatile reserves the right to suspend or terminate access to the applicable IoT services and associated functionalities without liability.
25.4.3. Subscription terms, renewal, and cancellation policies will be governed by the specific subscription agreement or service-level agreement (SLA) that may be provided by Versatile or its authorized service providers.
25.5. Third-Party Services and Integrations
25.5.1. IoT-Enabled Devices may integrate or interoperate with third-party software, platforms, or services. Versatile does not endorse, guarantee, or assume liability for such third-party services.
25.5.2. The Purchaser’s use of third-party services is at the Purchaser’s sole risk and subject to the applicable terms and conditions, privacy policies, and data handling practices of those third parties. Versatile is not responsible for any issues arising from the use of, or inability to use, third-party services.
25.6. Firmware and Software Updates
25.6.1. Versatile may provide over-the-air (OTA) firmware or software updates to improve IoT-Enabled Devices’ functionality, security, or performance. The Purchaser consents to the receipt of such updates, which may be applied automatically without separate notice, subject to applicable law.
25.6.2. Versatile is not liable for any damages resulting from failure to install updates promptly or from the Purchaser’s unauthorized alterations to the device’s firmware or software.
25.7. Limitation of Liability for IoT Services
25.7.1. To the fullest extent permitted by law, Versatile’s liability, if any, arising from the IoT capabilities, data-related issues, privacy, or subscription services shall be subject to the same limitations and exclusions described under these Terms and Conditions, including but not limited to the exclusions set forth under Clauses related to Warranty and Liability.
25.7.2. In no event shall Versatile be liable for any losses or damages arising from service interruptions, data corruption, data inaccuracy, unauthorized data access, or third-party service failures connected to the IoT-Enabled Devices.
Versatile Equipments Pvt Ltd
Note: Versatile equipments pvt ltd is abbreviated as Versatile