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Pricing

Quotation(s) are based on information received to date. Labour pricing is effective for thirty days; materials & parts are an estimate and are subject to adjustment due to unusual market conditions or changes to delivery schedule or quantity. Unless otherwise specified, terms are NET 30 days, FOB BNK Systems, not including any duties and/or any applicable taxes.

Orders are for custom-built products and are therefore non-cancellable, non-returnable. Any changes whatsoever requested or required as a result of incomplete or incorrect data supplied by the Customer, or any changes or consultation requested after receipt of order shall be charged on a time plus cost basis. In the event that the Customer defers or delays delivery for any reason, the Customer shall reimburse BNK for all costs. Our standard Payment terms for UAE would be as follows:

        1. 30% Advance Payment for Local Customers. 

       2. 50% Payment at the time of delivery of the products

       3. 20% after complete installation and solution evaluation as per the Test plan agreed upon between BNK and the Client.

All international Clients would be required to pay 100% advance before the delivery of the solution

Notwithstanding delivery of the goods to the Customer, BNK retains title and ownership to all goods until complete and final payment is rendered.

Notification

All notification and documentation relating to this order should be directed, in writing, to Production Manager, BNK.

Performance

Contract is specifically for purchasing of materials, assembly and/or test, as per customer-supplied data, drawings, documentation, and written instructions only. BNK disclaims all representations and warranties with respect to the suitability of the aforementioned information or suitability of the finished goods for their intended purpose, including, but not limited to their performance, or suitability for reproduction.

Expected completion dates are estimates only. The Customer shall give due consideration to all drawings, reports, notifications, reports, notifications, or other information supplied by BNK, and shall provide responses in such a reasonable time as not to impact the schedule.

Intellectual Property

All Confidential Information received from the Customer, shall not be disclosed to any parties other than sub-suppliers and only to such extent as necessary to fulfill the manufacturing order. BNK shall have no liability with respect to information, which is generally available to the public or trade, rightfully received from third parties, or within its possession prior to disclosure by the Customer. Confidential Information must be reduced to writing and clearly labeled as such. BNK assumes no liability for any claim of infringement of any intellectual property rights involving goods made to the Customer’s specifications.

Liability

BNK assumes no responsibility for indirect, consequential, or incidental damages resulting from the sale or use of the delivered goods. Customer must notify BNK of any non-conformance to customer supplied manufacturing instructions within (60) days of shipment. BNK reserves the right to replace, repair or refund the cost of any defectively manufactured goods at its sole discretion. The entire liability of BNK to the Customer shall end and be limited to the dollar value received for the defective goods.

Indemnity

Customer agrees to indemnify and hold BNK harmless from and against any and all claims, losses, liabilities, damages, costs or expenses which may be sustained or incurred by BNK arising out of or resulting from use of the goods delivered which is promoted, marketed, used, distributed, or sold by the Customer, or for any other claims made by any person whatsoever as a result of customer’s breach of the terms and conditions hereof or customer’s negligence, bad faith, or willful misconduct. All agreements signed between BNK and the client shall be governed by and interpreted in accordance with the laws of UAE now inforce or to be inforced from time to time. Any controversy or claim arising out or relating to the respective agreement or any breach thereof shall be settled by judgement of Dubai International Arbitration Center, UAE, unless it shall be mutually agreed to settle this elsewhere

Termination

In the event of termination by Customer prior to purchase of the Minimum Annual Quantity Volume for products quoted, or should Customer not purchase the full Minimum Annual Quantity within one (1) year of the date of commencement, the Customer agrees to immediately purchase, at same material pricing used in the preparation of this quote, all of BNK’s inventory on-hand, minimum order quantities, and work-in-progress allocated towards the manufacture of these products.

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