Terms and Conditions of Sale
Cosmo Bio USA, Inc
Cosmo Bio USA, Inc’s (hereinafter, COSMO) offer to sell product(s) to Buyer is expressly limited to Buyer's acceptance of these terms and conditions. Any of the following constitutes Buyer's unqualified acceptance of these terms and conditions: (i) written acknowledgement of these terms and conditions; (ii) issuance or assignment of a purchase order for the product(s), (iii) acceptance of any shipment or delivery of COSMO product(s), (iv) payment for any of the product(s); or (v) any other act or expression of acceptance by Buyer. THE TERMS AND CONDITIONS SET FORTH HEREIN SHALL SUPERSEDE ANY CONFLICTING TERMS CONTAINED ON BUYER'S PURCHASE ORDER OR ANY DOCUMENT OR INSTRUMENT SUBMITTED BY BUYER.
2. Prices, Taxes and Payment
All prices are firm unless otherwise agreed to in writing. COSMO Corporation (“COSMO”) reserves the right to change the prices and specifications of its products at any time without notice, unless otherwise explicitly specified in a written customer product quote. Any tax, duty, custom or other fee of any nature imposed upon this transaction by any federal, state or local governmental authority shall be paid by Buyer in addition to the price quoted or invoiced. In the event COSMO is required to prepay any such tax, Buyer will reimburse COSMO. Payment terms shall be net 30 days after shipment by COSMO. COSMO reserves the right to charge a late fee to invoices outstanding beyond 30 days after shipment. In addition, COSMO reserves the right to require C.O.D. payment terms from any Buyer whose account is overdue for a period of more than 60 days or who has an unsatisfactory credit or payment record. COSMO may also refuse to sell to any person until overdue accounts are paid in full. Buyer is responsible for all collection costs on past due accounts.
3. Order Cancellation
Cancellations are strongly discouraged. However, COSMO understands that cancellations are occasionally necessary. All canceled orders are subject to a minimum cancellation fee of 10% of the purchase price for each cancelled item. For cancellations before your item has been shipped, COSMO will invoice Buyer for a cancellation fee equal to 10% of the purchase price for each cancelled item. Requests to cancel orders for items that have already been shipped shall be honored at the discretion of COSMO and additional fees may apply. Please contact us directly. And please see Paragraph 9 below, "Returned Goods."
4. Delivery and Shipment
COSMO will make every effort to ship the products or provide the services hereunder in accordance with the requested delivery date, provided that COSMO accepts no liability for any losses or for damages arising out of delays in delivery. Shipment of all products shall be F.O.B. point of distribution by COSMO; identification of the products shall occur when they leave COSMO's point of distribution, at which time title and risk of loss shall pass to Buyer. All shipment costs shall be paid by Buyer and if prepaid by COSMO, the amount thereof shall be reimbursed to COSMO.
Products shipped with dry ice are subject to a handling charge, which is prepaid by COSMO and added to the invoice. At its election, COSMO may reserve a volume of certain research reagent products for evaluation on behalf of Buyer, for up to 90 days. The reserved volume is subject to reallocation or release at COSMO's discretion. Buyer is responsible for evaluation of reserved product and determination of specific volumes and delivery schedules to be requested. Within 90 days, Buyer must provide COSMO with a Purchase Order detailing the product, lot, volume, and delivery schedule for reserved product. All excess product(s) will be released at COSMO's discretion. Should Buyer be unable to determine a firm delivery schedule for a reserved product within 90 days, a separate written Supply Agreement detailing product, lot, volume, price, storage fees, and a final date when the balance of all products will be delivered must be agreed upon between COSMO and Buyer before any product will be delivered. The final shipment date may not exceed 365 days after execution of the Supply Agreement. The Supply Agreement is subject to all terms and conditions set forth herein.
5. Custom Made-To-Order Products
COSMO may define certain products as Custom Made-To-Order ("CMO"). Buyer must provide COSMO with product specifications prior to the start of manufacturing a CMO product. COSMO and Buyer shall agree to all production and testing techniques prior to the start of manufacturing a CMO product. Buyer must provide a Purchase Order detailing product and delivery schedule for reserved product. Buyer shall purchase the entire lot of the CMO without regard to volume. Purchase Orders for a CMO product(s) are not cancelable.
Buyer shall be responsible for inspecting all products shipped hereunder prior to acceptance, provided, that if Buyer shall not have given COSMO written notice of rejection fully specifying and documenting the reasons thereof within 30 days following shipment to Buyer, the products shall be deemed to have been accepted by Buyer.
7. COSMO’s Standard Warranty
COSMO warrants that its products will meet their applicable published specifications when used in accordance with their applicable instructions or, in the case of research products, will conform to the product description that accompanies each product, for a period of one year from shipment of the products. COSMO MAKES NO OTHER WARRANTY, EXPRESS OR IMPLIED. THERE IS NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The warranty provided herein and the data, specifications and descriptions of COSMO products appearing in COSMO’s published catalogues and product literature may not be altered except by express written agreement signed by an officer of COSMO. Representations, oral or written, which are inconsistent with this warranty or such publications are not authorized and if given, should not be relied upon.
In the event of a breach of the foregoing warranty, COSMO’s sole obligation shall be to repair or replace, at its option, the applicable product or part thereof, provided the customer notifies COSMO promptly of any such breach. If after exercising reasonable efforts, COSMO is unable to repair or replace the product or part, then COSMO shall refund to the customer all monies paid for such applicable product or part. COSMO SHALL NOT BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR ANY OTHER DAMAGES SUSTAINED BY ANY CUSTOMER FROM THE USE OF ITS PRODUCTS.
8. Authorized Use
The purchase of COSMO products conveys to Buyer a non-transferable right to use the purchased product(s) in compliance with the intended use statement listed on the product data or product information that accompanies each product. Each product also may be accompanied by limited use information or limited use label licenses. Unless otherwise expressly stated in product data or product documentation sheets, COSMO products have not been tested for safety or efficacy.
As stated in the documentation accompanying the product(s), ALL products are intended for research use only and are not to be used for any other purpose, which includes but is not limited to, unauthorized commercial uses, in vitro diagnostic uses, ex vivo or in vivo therapeutic uses or any type of consumption or application to humans or animals.
Buyer shall be completely responsible for: obtaining any necessary intellectual property permission, compliance with any and all applicable regulatory requirements, and conducting all necessary testing.
9. Returned Goods
We will do our best to fulfill requests to return material. However, in order to maintain the quality of our products and continue to provide competitive prices, certain items may not be returned. These items include: refrigerated or frozen products; items which have passed their expiration dates and products missing labels or parts, parts. Returns accepted for items ordered in error may be subject to a 20% processing fee and all returns must be returned within 90 days of purchase.
No products shipped under this contract may be returned without the express prior written authorization of COSMO and all products must be returned with COSMO’s approved Product Return Authorization form. Title to the returned products shall pass to COSMO upon delivery of the products to COSMO’s facilities. The products shall be returned in their original containers with the original COSMO label affixed and unaltered in form and content.
10. Technical Advice
COSMO may, at Buyer's request, furnish technical assistance, advice and information with respect to the products, if and to the extent that such advice, assistance or information is conveniently available. It is expressly agreed that there is no obligation to provide such information which is provided without charge at Buyer's risk and which is provided subject to the disclaimers and limitations of liability contained herein.
11. Agents, etc.
No agent, employee or other representative has the right to modify or expand COSMO's standard warranty applicable to the products or to make any representations as to the products other than those set forth in COSMO's product literature and any such affirmation, representation or warranty, if made, should not be relied upon by Buyer and shall not form a part of this contract.
12. No Assignment
Orders are not assignable or transferable, in whole or in part, without the express written consent of COSMO.
13. Typographical Errors
Stenographical, clerical or computer errors on the face of any COSMO invoice shall be subject to correction by COSMO.
14. Third Parties
Nothing in this document is intended to create any rights in third parties against COSMO.
15. Fair Labor Standards
COSMO represents that the products or services provided hereunder were produced and/or performed in compliance with the requirements of all sections of the Fair Labor Standard Act of 1938, as amended.
16. Equal Employment Opportunity
COSMO is an Equal Opportunity Employer. It does not discriminate in any phase of the employment process against any person because of race, color, creed, religion, national origin, sex, sexual orientation, age, veteran or handicapped status. The COSMO Equal Opportunity Certificate, which is mailed annually to all vendors and vendees, is incorporated into this contract by reference.
17. Modification, Waiver of Breach
This contract may be modified and any breach hereunder may be waived only by a writing signed by the party against whom enforcement thereof is sought. The waiver by either party of any provision of these Terms and Conditions shall not operate as a waiver of such provision at any other time.
18. Governing Law
This contract shall be governed by and construed in accordance with the laws (other than those relating to conflict of laws questions) of the State of California.
Any and all disputes or controversies arising under, out of or in connection with this contract or the sale or performance of the products shall be resolved by final and binding arbitration in Boston, Massachusetts under the rules of the American Arbitration Association then obtaining. The arbitrators shall have no power to add to, subtract from or modify any of the terms or conditions of this contract. Any award rendered in such arbitration may be enforced by either party in either the courts of the Commonwealth of Massachusetts or in the United States District Court for the District of Massachusetts in Boston, Massachusetts, to whose jurisdiction for such purposes COSMO and Buyer each hereby irrevocably consents and submits.
20. WEEE Directive
Buyer hereby agrees to bear any costs and conduct any required operations associated with the environmentally sound management of waste resulting from the products in accordance with all provisions, including any specific conditions, laid down by any national legislation, including legislation relating to electrical and electronic waste. Should Buyer be a distributor or the end user, for any disposal of used product support, please contact a local COSMO representative.
21. Compliance with Foreign Corrupt Practices Act
Buyer acknowledges that COSMO is a United States corporation and, as such, is subject to the provisions of the Foreign Corrupt Practices Act of 1977 of the United States of America, 91 Statutes at Large, Sections 1495 et seq., which prohibits the making of corrupt payments (the “FCPA”). Under the FCPA, it is unlawful to pay or to offer to pay anything of value to foreign government officials, or employees, or political parties or candidates, or to persons or entities who will offer or give such payments to any of the foregoing in order to obtain or retain business or to secure an improper commercial advantage. Buyer further acknowledges that it is familiar with the provisions of the FCPA and hereby agrees that it shall take or permit no action which will either constitute a violation under, or cause COSMO to be in violation of, the provisions of the FCPA.
22. Compliance with Export Restrictions
Buyer agrees that it will comply with all restrictions imposed by the United States of America upon the export of the Products pursuant to the Export Administration Act of 1979, 93 Statutes at Large, Section 503, et. seq., as from time to time amended, or any successor act and all regulations promulgated thereunder. Buyer will cooperate with COSMO in obtaining appropriate export licenses for the Products and will submit all documentation requested by COSMO (including, without limitation, Forms ITA-629) in connection therewith.
Buyer agrees that it will comply with all restrictions imposed by the United States government relating to the export, or re-export, of the products or the transfer of any COSMO technical data. Buyer also agrees that, without the prior written approval of the U.S. Department of Commerce, it will not sell the products to any customer it knows, or has reason to know, will use them, directly or indirectly, in any chemical or biological warfare application. Buyer will cooperate with COSMO, and will submit all documentation requested by COSMO to obtain the appropriate licenses prior to the export of the products or the transfer of any COSMO technical data. If required by COSMO, Buyer will also obtain an end use statement from the end user of products. Buyer further agrees that it will comply with all import and export restrictions of any country in which Buyer is doing business, including but not limited to verification by Buyer that no end user of the products or recipient of technical data has been listed on any country’s “denied parties” list.
If any provision of these terms and conditions is held illegal, invalid, inapplicable or unenforceable, such provision shall be deemed severed from these terms and conditions, the remainder of which shall remain in full force and effect.
24. Entire Agreement
These Terms and Conditions of Sale shall constitute the final, complete, and exclusive statement of the terms of the agreement between the parties pertaining to the sale of COSMO products and supersedes all prior and contemporaneous understandings or agreements of the parties.
Rev. Nov 2017