ICOT Company Terms & Conditions

Your Commitment To Excellence – Our Binding Agreement

Welcome to ICOT Company! We are delighted to serve you with our products, and you must understand the terms and conditions that govern your transactions with us. Please read these Terms & Conditions carefully. They are intended to create a transparent and fair relationship between you and ICOT Company.

1. Fundamental Terms

In the absence of a written agreement, signed by the Director of ICOT Company, all goods are provided to you under these unyielding conditions. These conditions supersede any terms or conditions you may possess and unapologetically supersede any representation, warranty, or communication not explicitly incorporated herein.

2. Pricing Precision

Our pricing structure adheres to the following stringent principles:

• Prices are unequivocally net ex-Works and exclusively apply to the specified quantities, delivery dates, or rates in your order.
• Any additional expenses arising from modifications initiated by you, such as alterations in quantities, delivery dates, or specifications, are squarely your responsibility.
• Prices are meticulously based on current costs at the time of quotation and are unflinchingly subject to adjustments due to fluctuations in exchange rates, newly imposed or heightened taxes, duties, manufacturing expenses, or delivery-related outlays.

3. Payment Prowess

Payment is undeniably due within 30 days of the invoice date. In the case of export trade, payment terms will be meticulously detailed by us before the acceptance of your order.
Timely payment is an uncompromising prerequisite for future deliveries. We assertively retain the right to levy interest, at a rate of 5 percent per annum above the base rate of the Co-operative Bank, on outstanding amounts from the due date. This interest accumulates relentlessly daily and is payable without any allowance for tax deductions.

4. Delivery Dedication

The delivery particulars, encompassing timing and location, are precisely as stipulated in your order, subject to Condition 7 below.
While delivery dates are estimated, we steadfastly commit to a specific delivery date only when explicitly warranted in writing. Any unforeseen circumstances beyond our dominion may, however, lead to the postponement or suspension of deliveries, devoid of any liability on our part.

5. Unwavering Cancellation Policy

Should you opt to cancel the entirety or a portion of an order, you shall promptly reimburse us for any costs incurred in managing the canceled order.

In the event of cancellations:

If notification occurs within seven days or less before the scheduled delivery date, you shall remunerate us with an unwavering 10% of the canceled order’s total value.
For goods tailored to your specific designs, patterns, or specifications, if canceled after the commencement of production, you shall be held accountable for the full agreed price of the goods produced up to the point of cancellation. Any partially completed goods will be handed over to you at your expense.

6. Conveyance And Packaging Commitment

Except for explicit specifications, carriage costs are firmly additional. The realm of prices encompasses carriage to a single destination.
Any supplementary expenses arising from deliveries outside the mainland, special delivery requests, or your selection of specific carriers, are resolutely chargeable to you.
Our standard packaging, suitable for both surface and sea transit, is unequivocally included in the price. Any specialized packaging, such as pallets for shipment, will invariably incur additional charges.

7. Vigilance Against Transit Loss Or Damage

For deliveries encompassing delivery costs, we exhibit unwavering resolve to either repair, replace, or extend credit for shortages or goods lost or damaged during transit. This unwavering stance is subject to the following conditions:

• In the case of damage or shortages, you must promptly notify both the carrier and us in writing within 7 days following receipt of the goods.
• In the case of loss, such notice must be furnished within 14 days after dispatch.
• For Export buyers, it is your solemn obligation to establish to our satisfaction that the loss or damage transpired before shipment.
• In instances where you dictate the carrier, the responsibility for loss or damage during transit squarely rests on your shoulders.

8. Property Passage And Risk Resilience

Risk about any form of loss or damage to the goods irrevocably transfers to you upon delivery to your place of business, your accredited agent, or upon retrieval by your designated carrier.
We ardently retain possession of the goods until we receive full payment for the goods in question. Until payment is satisfactorily settled, you are mandated to preserve the goods as our bailee. You shall house them in a manner that unmistakably distinguishes them as our property, keeping them free from any encumbrance or lien. At our behest, you shall promptly surrender the goods to us or grant us access to your premises for repossession. You are allowed to conduct the sale of the goods in the ordinary course of business before full payment, and we are unequivocally entitled to the proceeds of such sales until your dues have been settled in full.

9. Defect Diligence

Your ability to reject goods for defects or non-conformance to their description is categorically denied. However, in a spirit of fairness, we are unwaveringly committed to, at our sole discretion and expense, replacing or refunding the invoice value of goods found to be defective. This commitment is subject to the condition that you furnish written notice detailing the alleged defect or misdescription within 7 days from the date of the invoice. If we make such a request, you shall return the goods at your own expense for our thorough examination. We shall not accept any liability for defects arising as a result of post-delivery processing.

10. Liability Limitation

Our liability under these conditions is all-encompassing and unyielding, rendering all other warranties, conditions, or obligations. This unambiguous stance is true irrespective of whether the quality, description, or fitness of the goods for any particular purpose is in question. Our resolute position is that we expressly exclude any liability for indirect or consequential loss, regardless of its origin or cause.

11. Catalogue Commandments

Our catalogs, price lists, and promotional materials are intended for illustrative purposes only and are not deemed integral to the contract. They are emphatically protected by our copyright. We steadfastly reserve the prerogative to modify specifications, patterns, and designs at our discretion, and this stance prevails until your order is formally accepted.
These Terms and conditions are emblematic of our unwavering commitment to conducting business with absolute fairness, transparency, and efficiency. We treasure our partnership with you and eagerly anticipate the opportunity to serve you with the utmost excellence.

Should you have any queries or concerns, please do not hesitate to reach out to us.