Standard Conditions and Terms of Trade

GENERAL
All quotations, commercial transactions and orders provided by Taiyiie Technology (Hong Kong) Limited, hereafter called "The Company", are subject to the following terms and conditions.

ORDERS
The company reserves the right at any time to refuse to accept orders and cancel incomplete orders or to suspend delivery due to circumstances beyond it’s control. All orders received by the company will be confirmed by an acknowledgment giving details of product selected, price of goods, delivery date and other related details.

PRICES AND QUOTATIONS
Prices are generally quoted in writing by means of a formal quotation providing details of product selected, price of goods delivery date and other particulars. Unless otherwise stated in writing, quotations are valid for 30 days from date of issue. Quotations are only valid for the quoted quantity shipped in one lot.

DELIVERY AND TRANSFER OF RISK
Delivery time of products depend on the product specification and are stated in the subsequent quotation. Unless otherwise agreed in writing, all shipments are made on FOB/FCA Hong Kong basis. Goods are shipped at the risk and expense of the customer unless otherwise stated.

DAMAGE IN TRANSIT
Customers should inspect all items received for damages and missing parts within three days upon arrival at their premises. Goods visibly damaged should be rejected giving the cause of the rejection in writing on the subsequent freight document. An insurance against damage in transit is available on request.

WARRANTY AND REPLACEMENT
All products are covered by a minimum warranty period of six months from the date of purchase. TaiyTech brand products are covered by an extended warranty of 24 months. Consequential losses and/or damages are explicitly excluded from our warranty obligation which is also restricted to the exchange or repair or credit in our choice.

Return items must be marked with an RMA number which may be obtained from our sales desk prior to any item being returned. Return items must be shipped complete, originally or equivalently packed, without any markings and/or labels and/or any other modfications applied. Items shipped without an RMA number, incomplete or not originally or equivalently packed or shipped on freight collect basis, with warranty seals broken, bearing any markings and/or labels and/or other modfications will be rejected. Faulty items will be replaced or repaired or credited in our option. Return shipments are returned to the customer on ddu basis. Customers enrolled on our Advance-Replacement Service will receive replacements prior to turning in the faulty item and such replacements.

OFFSET AND RETAINER
All purchases shall be entitled to be offset only in so far as the buyer´s counterclaim is acknowledged, undisputed or assesessed by a legally binding judgement. The buyer is only entitled to claim such right of retainer as are based on the same transaction.

PAYMENT AND CREDIT TERMS
All new accounts will be operated on a cash/T/T on delivery basis until a suitable credit status can be established.
Once a credit status is established, individual credit facilties are available.
Customers with agreed credit facilities are required to settle their account within 14 days of their monthly statement being issued. If the agreed credit limit is exceeded the account must be settled in order to maintain trading practice. If the customer does not abide by the credit terms given, the company reserves the right to withdraw credit facilities without notice. Any amendments to these terms will be notified in writing.
All goods shall remain the property of the company until payment is received in full. Risk shall pass to the customer on delivery. The Company shall be entitled to recover from the customer any goods for which payment has not been received when due and may enter the premise of the customer to recover such goods.

Payment of all commercial transactions is to be made exclusively in US Dollars.

APPLICABLE LAW
All commercial tranactions and contracts shall be governed by the laws of the Federal Republic of Germany with the inclusion of the United Nations Convention of April 11, 1980 on Contracts for The International Sale of Goods.

WRITTEN FORM
Any amendments or addtions to, or bilateral termination of this agreement, part or in total, must be made in written form in order to be valid. This also applies to any amendments to, or cancellation of, this written form clause.