TERMS AND CONDITIONS

By placing an order, you acknowledge that you have read, understand and agree to these Terms and Conditions.  If you do not agree to these Terms and Conditions, you should not place an order with us.

Plasticology, Inc. reserves the right to update or change these Terms and Conditions at any time and for any reason.  By continuing to place orders, you agree to be bound by any such revisions, and therefore, you should visit this page of this Website periodically and print the latest version of these Terms and Conditions for your records.  For your information, the date of the last update to these Terms and Conditions is stated at the top of this document.]

1.         Tooling - for customer supplied tooling, there will be non recurring costs, including any modifications to allow the tooling to be used in our machines, testing, sample parts, repairs and improvements.  There may also be recurring costs related to maintenance and service of the toolings.  These costs, unless negotiated beforehand, shall be invoiced as incurred and the be the responsibility of the customer.

2.         Tooling - when Plasticology, Inc. is asked to help design and build tooling or molds for a customer, the Molds will be owned by the customer and remain in Plasticology, Inc.’s possession in order to run production exclusively for the customer.  Payment terms, unless otherwise negotiated beforehand, to be 50% with purchase order and balance to be paid upon the successful run of test parts.

3.         Customer agrees to indemnify and hold Plasticology, Inc., and its officers, directors, employees and agents, harmless in the event of (a) any loss resulting from patent or trademark infringements; and (b) any claims that the tools, molds, plans, drawings, parts, materials, or any other technology, equipment, intellectual property are owned by others.  Plasticology, Inc. will not do any patent or trademark search and assumes no liability whatsoever for customer’s products.  This indemnification includes the obligation to defend and hold harmless the indemnitees from and against any and all liability, claims, judgments, or damages that may be made against the indemnitees arising from their manufacture of parts or use of the tools, molds, intellectual property, etc.  This indemnification obligation shall include any costs or attorney fees actually and reasonably incurred by Indemnitees in connection with any action or proceeding involving the indemnified claims.

4.         Freight is FOB Plasticology, Inc.’s factory with goods being packaged as requested by customer or according to “commercial freight standards.”  Plasticology, Inc. assumes no liability for freight loss or damage once goods leave our dock, and customers are encouraged to have insurance coverage for those goods.  In some cases Plasticology, Inc. will arrange freight for our customers, but risk of loss shall transfer to customer once goods leave our dock.

5.         Because of certain conditions when manufacturing plastic goods, all orders will be subject to a plus or minus 10% shipping quantity.

6.         Plasticology, Inc. may from time to time, purchase Customer specific materials, including packaging, parts, colorant and resins, among other items, in bulk to be held for future orders.  Plasticology, Inc. may also maintain some inventory of finished goods in anticipation of reoccurring orders.  Customers who wish to terminate the business relationship, or who do not order product for more than six months, agree to purchase any of their custom materials or goods held in Plasticology, Inc.’s inventory.  The price of finished inventory shall be at the last price charged for such product, and the cost of all other items shall be at Plasticology, Inc.’s laid in cost.

7.         Quotations are good for 30 days unless otherwise stated.

8.         Blanket orders are subject to review and price adjustment when costs increase.

9.         Terms of Payment are net 30 days, and 1.5% per month thereafter.  No discounts are accepted. Payment on production of goods is due from the date of shipment of the goods, and not the date of invoice or receipt of invoice.  Payment for all other charges are from the date of invoice.  Credit privileges can re revoked at any time that all or any part of the account goes past due.  Customer agrees to pay all costs of collection, including reasonable attorney fees, court costs, investigation and collection agency costs in the event of default.  Customer agrees to the venue,  jurisdiction and governing law for all matters arising between it and Plasticology, Inc. in Sioux, County, Iowa.

10.       Plasticology, Inc. may assist in selecting raw materials, but it’s the customers responsibility to determine if the material is suitable for its intended use.

11.       Customer agrees to immediately inspect all goods upon receipt and to make any claims that the goods are not acceptable within 30 days of shipment.  Fit, function and suitability of parts are the responsibility of the customer.  Plasticology, Inc. will not be responsible for any liability that arises from the use or misuse of these products, and any claim the goods are not acceptable shall be for the replacement of the goods only and Customer waives all consequential and incidental damages.  PLASTICOLOGY, INC. SPECIFICALLY DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.  Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimer may not apply to you.  This warranty gives you specific legal rights and you may also have other legal rights that vary from state to state.

12.       To secure the payment of all sums which may now or hereafter be due by Customer to Plasticology, Inc., Customer hereby grants to Plasticology, Inc. a first priority lien and security interest in all of Customer’s tooling, packaging, inventory, parts, goods and all other assets in Plasticology, Inc.’s possession, and consents to Plasticology, Inc. filing any financing statements it desires to perfect such secured interest.

13.       Force Majeure. In the event performance of this Agreement, or any obligation hereunder, is either directly or indirectly prevented, restricted, or interfered with by reason of fire, flood, earthquake or like acts of God, wars, revolution, pandemic, civil commotion, explosion, acts of public enemy, embargo, acts of governments, labor difficulties, including without limitation, strikes, slowdowns, picketing, or boycotts, unavailability of equipment, materials or supplies, changes requested by Customer, or any other circumstances beyond the reasonable control and without the fault or negligence of the Plasticology, Inc., upon giving reasonable notice to the Customer, Plasticology, Inc. shall be excused from such performance on a day-to-day basis to the extent of such prevention, restriction, or interference.

14.       Any modification of these terms, whether contained in a Purchase Order or otherwise, shall only be binding if specifically agreed to by Plasticology, Inc. by a signed writing.

PERSONAL GUARANTY

For and in consideration of Plasticology, Inc. extending credit to customer, the individual actually placing the order, whether an employee or other type agent, also hereby personally guarantees to Plasticology, Inc. the payment of all debts of the customer to Plasticology, Inc., whenever the customer shall fail to pay the same when due.  It is understood that this guaranty is a continuing, unconditional and irrevocable guaranty and the individual waives notice of default, non-payment and notice thereof.