SALES TERMS AND CONDITIONS
These Sales Terms and Conditions (hereinafter referred to as "Terms") govern all sales of industrial equipment and intermediary trade services (hereinafter collectively referred to as "Products") by Hy Corporation (hereinafter referred to as "Seller") to our esteemed customers (hereinafter referred to as "Buyer").
1. Orders and Acceptance
1.1 The Seller has the sole discretion to accept or reject any order placed by the Buyer. Once an order is accepted, it establishes a binding contract between the Seller and the Buyer.
1.2 Modifications or amendments to an order must be made in writing and require mutual agreement between the Seller and the Buyer.
2. Price and Payment
2.1 The price of the Products shall be as specified in the Seller's quotation or as agreed upon in writing between the Seller and the Buyer.
2.2 Payment for the Products is to be made in the currency indicated on the invoice, within the agreed-upon payment terms.
2.3 In the event of late payment, the Buyer shall be liable to pay interest charges at the rate specified by the Seller.
3.1 The Seller will make reasonable efforts to deliver the Products within the agreed-upon timeframe. However, any delivery dates provided are estimates and not binding.
3.2 The Buyer is responsible for any customs duties, taxes, or other charges related to the importation of the Products.
4. Inspection and Acceptance
4.1 The Buyer is required to promptly inspect the delivered Products upon receipt. Any claims for shortages, damages, or non-conformities must be reported in writing to the Seller within 7 days of delivery.
4.2 Failure to notify the Seller of any such claim within the specified timeframe will be considered as acceptance of the Products by the Buyer.
5.1 The Seller warrants that the Products are free from defects in material and workmanship under normal use for a period of 30 days from the date of delivery.
5.2 The Seller's liability under this warranty is limited to repairing or replacing, at its discretion, any defective Products or parts.
5.3 This warranty does not cover defects or damages caused by improper use, negligence, accidents, or unauthorized modifications to the Products.
6. Limitation of Liability
6.1 The Seller shall not be liable for any indirect, incidental, or consequential damages arising out of or in connection with the sale or use of the Products.
6.2 The total liability of the Seller, whether in contract, tort, or otherwise, shall be limited to the total amount paid by the Buyer for the specific Products giving rise to the claim.
7. Governing Law and Jurisdiction
7.1 These Terms shall be governed by and construed in accordance with the laws of Republic of Korea. Any disputes arising out of or in connection with these Terms shall be submitted to the exclusive jurisdiction of the courts of Republic of Korea.
8. Entire Agreement
8.1 These Terms constitute the entire agreement between the Seller and the Buyer, superseding any prior negotiations, representations, or agreements, whether oral or written, relating to the sale of the Products.