Hereinafter named “GTCS”,
Applicable to all contracts for sales of products and/or services performed by HK MARKET

Agreed between every buyer who order any product from HK MARKET, by signing a written quotation or pro‐forma Invoice , in Hong Kong or in any foreign country, Hereinafter named “The customer”

And HK MARKET LIMITED
Hereinafter named “HK MARKET”

These GTCS, together with the quotation or pro‐forma invoice duly accepted and signed by the customer, form an integral part of the contract.

Article 1. Terms of payment and lead time.
Production will start as soon as HK MARKET receives the deposit payment as required on the quotation or on the pro‐forma invoice. The remaining amount shall be paid by the customer to HK MARKET before shipment.
In case of samples or low quantities ordering, a single full payment can be requested at the time of order, before any production starts. The leads and delivery times are given on an indicative basis in the quotation and the pro‐forma invoice.

Article 2. Warranty.
HK MARKET guarantees that the commodity hereof complies in all respects with the quality and specification stipulated in the quotation. The guarantee period will start from the date the commodity is delivered at the place of the destination. The warranty period is clearly stated on the quotation or pro‐forma invoice.

Customer is entitled to a replacement or refund for a major failure, and compensation for any other reasonably foreseeable loss or damage. Customer is also entitled to have the goods repaired or replaced if the goods fail to be of acceptable quality and the failure does not amount to a major failure.

In case of default due to a cause covered by the warranty, HK MARKET will do his best efforts to replace or repair the products in the shortest delay. The customer has to send the defective product to be expertized by HK MARKET’s authorized technician in Hong Kong, or factory’s technicians in China, prior to receiving any goods in replacement.

The warranty only applies where a defect has arisen, wholly or substantially, as a result of faulty manufacture, parts or workmanship during the warranty period.

The warranty does not apply where damage is caused by other factors, including without limitation:

  • (a) normal wear and tear;
  • (b) abuse, mishandling, accident or failure to follow operating instructions;
  • (c) exposure to liquid or infiltration of foreign particles;
  • (d) servicing or modification of the product other than by HK MARKET’s authorized
  • (f) use of the product with other accessories, attachments, product supplies, parts or devices that do not
  • conform to HK MARKET specifications;
  • In addition, the warranty does not apply in following cases:
  • (g) the repair or replacement of any product damaged during transit to or from HK MARKET’s warehouse
  • (h) any loss or consequential damage incurred while the product is being repaired.
  • (i) any loss or consequential damage incurred during shipment or other transit.

All shipping costs associated with needed shipments to send back a defective product from customer’s
location to HK MARKET warehouse, and also to send new or repaired products from HK MARKET’s
warehouse to customer’s location, during warranty period, are not covered by warranty terms and have to
be paid by the customer. No advance payment can be done by HK MARKET.

Article 3. Trade terms
The trade terms in this contract are subject to the INCOTERMS of the ICC, as specified on the quotation.

Article 4. Packing and shipping mark
If there is no special requirement from the customer for the packing and shipping mark, HK MARKET shall pack and mark the goods according to the general practice of export.

Article 5.Confidential obligation
Each party shall treat all Confidential Information belonging to the other party as confidential and safeguard it accordingly. Customer cannot disclose anything about HK MARKET’s confidential and commercial information on this contract, otherwise the customer must be held liable for it.

Article 6. Discrepancy and claim
Any claim by the buyers regarding the goods shipped must be notified within 30 days after the arrival of the goods at the port/place of destination specified in the related B/L and/or transport document and supported by a survey report issued by a surveyor approved by the sellers. Claim in respect of matters within the responsibility of insurance shipping company/other transportation organization will not be considered or entertained by HK MARKET, if this shipping company/other transportation organization is/are not tasked by HK MARKET.

Article 7. Force Majeure
If the shipment of the contracted goods is prevented or delayed in whole or in part by reason of war, earthquake, flood, Fire, storm, strikes or other cause of force majeure, HK MARKET shall not be liable for non‐shipment or late shipment of the goods of this contract. However, HK MARKET shall notify the customer by e‐mail and phone call without any delay and will furnish a letter within 15 days by speed post with a certificate attesting such event or events.

Article 8 Arbitration
Any dispute arising from or in connection with this contract shall be submitted to the Hong Kong International Arbitration Centre (HKIAC) at the claimant’s arbitration rules in effect at the time of applying for arbitration. The arbitration award is final and binding upon both parties.

Article 9. Assignment
This contract shall not be assigned by either party without the agreement by both parties.

Article 10.Alteration and Termination
Either party should not alter or terminate the contract without agreement of both parties (except for reason force majeure stated in Article 7)

Article 11. Validity and enforceability of the contract
The customer and HK MARKET have agreed to conclude the contract through negotiation. Once the quotation (or pro‐forma invoice) is signed by the authorized representatives of both parties, the contract is effective on the signature date. In case the quotation (or pro‐forma invoice) has to be signed in different locations, the effective date will be the date the contract is signed by the other party. GTCS do not need to be signed, as signature on quotation (or pro‐forma invoice) is an acceptance of the GTCS’ terms.

Article 12. Cancellation of the contract
No order may be cancelled, modified or deferred without the prior written consent of HK MARKET (which is at HK MARKET’s sole discretion). If such consent is given, it is, at the HK MARKET’s election, subject to a cancellation fee covering all losses (being not less than 30% of the invoice price of the Goods).

Article 13. Copies of contract
There are two original copies of the contract (quotation or pro‐forma invoice + GTCS), one of which shall be held by either party. All previous correspondence, faxes, telex, cables, e‐mails and verbal negotiations have to be referred to the contents of the contract as the criterion.

Article 14. Language.
The English version of the quotation (or pro‐forma invoice) and English version of GTCS are authentic.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s