Terms of Sale
These terms of sale apply to Industrial Parts Depot, LLC, a California Corporation, or its subsidiaries Industrial Parts Depot (Denmark) ApS and IPD Australia Pty Ltd (collectively “IPD”). 1.5% per month (18% annual) interest will be charged on all accounts past due more than 60 days, except with respect to disputed charges. Standard terms of sale are cash Net 30 days from date of invoice unless otherwise noted. All shipments are Ex-Works IPD Branch unless otherwise noted. All manufacturer’s names, numbers, symbols, and descriptions are used for reference purposes only. It is not implied that any part listed is the product of these manufacturers. IPD limited warranty information available at www.ipdparts.com
Returns
IPD will not accept product returns without prior written authorization from IPD. Return requests must be submitted in advance to your IPD Distribution Center for approval. Original packing slip or Invoice number on which products were purchased must accompany ALL returns. IPD will not issue credit for obsolete, discontinued, damaged, or dirty products. Products will not be considered for credit after 1 year from purchase date. Gasket sets in opened packages or that have been opened and re-sealed will not be considered for credit. Individual gaskets or O-rings out of gasket sets are not returnable. Products returned which do not comply with the terms noted above will be held for a period of 30 days and disposed of. All returns must be in original packaging and sent freight pre-paid to IPD. If sent freight collect, the freight amount will be charged to customer. All product returns are subject to a 15% restocking fee. Credits for returned items are not eligible for cash refunds unless authorized in advance and in writing by IPD Management
Compliance with Trade Sanctions
All Customers trading with IPD shall be required to execute an agreement (“OFAC Agreement”) to certify compliance with various governmental trade sanctions. The main topics of this agreement are shown below:
Compliance with Intergovernmental Organizations
The Buyer listed above hereby represents and warrants to the Seller that Buyer is in compliance with, and shall at all times during the term of the Agreement (including any renewal or extension or termination thereof) remain in compliance with and abide by UN Security Council Resolution 1540 and Regulation (EC) 428/2009 of the European Union, and any regulations, resolutions, decisions, and policies of the United Nations, the European Union, and their respective member states and their rules of law and regulations (including any executive order), or other intergovernmental organization action related to the protection and security of the international community from acts or threats of terrorism, including individuals and transactions which pose a serious risk to the peace and stability of a country.
Prohibited Persons and Transactions related to US Office of Foreign Assets Control (“OFAC”)
The Buyer listed above and the Seller each hereby represent and warrant to the other that each are currently in compliance with and shall at all times remain in compliance with the regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated Nationals and Blocked Persons List) and any statute, executive order (including the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto.