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Terms and Conditions

Agreement Acceptance:

The Buyer’s Agreement/Purchase Order is accepted subject to the following terms and conditions and no others, unless the same have been consented to in writing by the Seller. These conditions shall override any terms and conditions stipulated, incorporated or referred to by the Buyer in any order, correspondence, negotiations or any other way. The Agreement/Purchase Order by the Buyer shall be evidence of the Buyer’s approval of and consent to the terms and conditions contained herein.

Quotation and Pricing:

Socket Source, Inc. will strive to maintain the listed or quoted prices; however, prices are subject to change, without notice, due to various factors including material, special processing, and/or manufacturing services cost. Proposals are quoted in US dollars.

Payment:

Payment terms are net thirty (30) days from the date of invoice, subject to approval of Buyer’s credit. Unpaid invoice balances will be subject to any collection costs or fees incurred (unless special terms have been arranged). Accounts with unpaid balances over 60 days will be placed on credit hold.

Delivery:

Terms are FOB Origin (Seller’s Dock). All costs and liabilities associated with the shipment of any uninsured packages lost in transit will be at the Buyer’s expense.

Export Compliance:

Buyer shall comply with all export control laws and regulations of the United States, including the International Traffic in Arms Regulations (ITAR) and Export Administration Regulation (EAR). The Buyer is responsible for complying with any legislation or regulation governing the export of goods and importation of goods into the country of destination and the payment of any duties, taxes or other expenses.

Reschedules:

All orders are subject to cancellation/reschedule fees contingent on the completion percentage of the order.

Warranty:

No Returns will be accepted by Socket Source, Inc. unless authorized with a Return Material Authorization (RMA) number. Shortages and nonconforming material must be reported within 30 days of receipt. Liability is limited to replacement of, or credit for, such material and in no case shall exceed the invoice value for such material. Customer accommodating returns must be requested within 30 days with a minimum 20% re-stocking fee applied, unless otherwise agreed upon.

Material Certification:

Socket Source certifies that to the best of our knowledge the products delivered conform to the requirements of applicable specifications and drawings.  

Severability:

If any provision of the Purchase Order/Agreement is held invalid or unenforceable, the remaining provisions will remain in full force and effect, and the invalid or unenforceable provision will be limited or eliminated to the minimum extent necessary.

Limitation of Liability:

Socket Source, Inc shall not be liable for any incidental, special, punitive, indirect, or consequential damages however arising or caused.

Indemnity:

The Buyer agrees to indemnify the Seller against any loss, damage, costs, claims or expenses incurred by the Seller in respect of liability established against the Seller by a third party arising out of or in connection with the contract of supply.

Laws and Disputes:

 Any Agreement/Purchase Order shall be governed by the laws of the state of California. Any claim arising out of, or relating to this Agreement/Purchase Order, or the breach thereof, shall be settled by binding arbitration which shall be administered in the city of Cerritos.

Order of Precedence:

Any inconsistencies between these terms and subsequent Agreements/Purchase Orders shall be resolved in accordance with the following descending order of precedence: (i) These Terms and Conditions of Sale and Service, (ii) other Agreement(s) and attachments thereof; (iii) Statement of Work; (iiii) The Purchase Order.

 

 

Purchasing Terms and Conditions

Clauses:

  1. Products supplied must be in conformance to the latest requirements of the Industrial Fastener Standard unless otherwise stated.

  2. Suppliers are required to notify Socket Source in cases of nonconforming product, including arrangements for Socket Source approval of supplier nonconforming material.

  3. Suppliers are required to notify Socket source of changes in product and/or process definition including, where required, per Socket Source approval.

  4. All products supplied to Socket Source shall be in conformance to the latest specification revision requirements, unless otherwise authorized by Socket Source.

  5. Certification(s) of Conformance and chemical and physical test report(s) shall be traceable throughout the supply chain and supplied upon request by Socket Source. Certification(s) of Conformance and chemical and physical test report(s) shall include a reference to the part number indicated on the Socket Source Purchase order, and all applicable specification revisions relative to the product/service supplied.

  6. All documentation shall be in English. All paperwork traceability shall be maintained at the supplier’s facility.

  7. Records resulting from the processing of this order shall be retained for a minimum of eleven (11) years after completion of Socket Source customer’s contract, or as otherwise required by that customer.

  8. Supplier quality management system shall be in accordance with AS9100/ISO 9001 requirements or equivalent unless otherwise approved.

  9. The supplier will flow down to sub-tier suppliers the applicable requirements in the purchasing documents, including key characteristics.

  10. When specified, the supplier shall use sources designated by Socket Source or its customer.

  11. Right of Entry shall be granted to Socket Source, its customers, and regulatory authorities, to all facilities involved with the order and to all applicable records, for the purpose of monitoring product quality.

  12. Suppliers are responsible for Lost or Damaged Product

  13. Suppliers shall maintain a documented process to prevent the use and supply of counterfeit parts (see 8.1.4 of the AS9100D / ISO 9001:2015 Standard)

  14. Suppliers shall ensure all personnel performing work that affects product/service conformity to requirements are competent with the adequate knowledge and education.

  15. Suppliers shall ensure that persons / employees are aware of their contribution to product or service conformity. Their contribution to product safety, and the importance of ethical behavior.

  16. Socket Source will not pay for over shipments without prior authorization.

  17. Socket Source intends to monitor supplier performance, including, but not limited to, on-time delivery, and product conformance to requirements. Suppliers not meeting requirements will be subject to formal and informal corrective action requests. If satisfactory corrective actions are not implemented, resulting actions could include supplier probation, and loss of business.