Terms & Conditions
This agreement is made between the purchaser hereinafter referred to as “Buyer”, Arc Scientific hereinafter referred to as “Broker”, and the seller of the equipment referred to as “Seller.”
Through the purchase of equipment through Arc Scientific (www.arcscientific.com) the Buyer agrees to the following terms;
ALL EQUIPMENT IS SOLD AS IS, WHERE IS and WITH ALL FAULTS. UNLESS EXPRESSLY STATED IN WRITING IN THE LISTING, WE AND OUR SELLERS DISCLAIM ALL WARRANTIES, EXPRESS AND IMPLIED, WITH RESPECT TO THE ASSETS, INCLUDING WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR THAT THE ASSETS ARE FREE FROM LATENT DEFECTS.
Risk of Loss: Buyer, at Buyer’s own expense, shall independently seek adequate insurance coverage for the goods sold under this agreement. The risk of loss shall pass to Buyer. Buyer shall not look to Arc Scientific for any deficiency in insurance coverage, notwithstanding the fact that Buyer may have the right of rejection, or that Arc Scientific may be in breach of this agreement. The risk of loss shall not be altered by the fact that the conduct of either party may constitute a default or breach. If the goods covered by this agreement are destroyed before the time the risk of loss passes to Buyer, Arc Scientific shall be excused from performing Arc Scientific’s obligations under this agreement and the agreement shall be avoided. This provision shall apply whether or not the goods are destroyed through the negligence of Arc Scientific.
All equipment purchased through Broker shall be paid to Broker and held in escrow on behalf of the Seller. Buyer is responsible for all title, registration, freight, transportation, packing/prepping, and insurance costs; provided, however, that title will not transfer from Seller to Buyer until the Seller has received payment in full for the equipment and Buyer has removed the equipment from the Seller’s premises in its entirety. The equipment is sold Ex Works (Incoterms 2010) and delivery of title to the equipment from Buyer to Seller will take place from the Seller’s premise.
Arc Scientific reserves the right, in its sole discretion, to change the Terms & Conditions under which www.arcscientific.com is offered. The most current version of the Terms will supersede all previous versions. Arc Scientific encourages you to periodically review the Terms to stay informed of our updates.
It is understood and agreed that this agreement shall be binding upon and accrue to the benefit of the successor’s and the assigns of the respective parties hereto, which shall include any parent corporation or subsidiaries or affiliates of the parties to this agreement, including joint ventures or limited partnerships to which either party is a part.
Last revised on July 13th, 2018