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        These General Terms and Conditions of Sale (hereinafter “Terms of Sale”) govern all purchases of the Product from Livart Marine Industry Co.,Ltd. (hereinafter “Livart Marine”) and form an integral part of the Proposal submitted to the Buyer (as defined below). No condition or modification of these Terms of Sale will be effective unless expressly agreed to in writing by Livart Marine. Failure by Livart Marine to object to provisions contained in any order or any other communication from Buyer will not be construed as a waiver or modification of these Terms of Sale, or as an acceptance of any such proposed provisions.


        Buyer means the contracting party purchasing the Product from Livart Marine. Contract means these Terms of Sale, the Proposal and all other related documents. Parties mean Livart Marine and the Buyer taken together; Party means either of them taken separately. Third party means any person or entity other than Livart Marine or the Buyer. Product means any product, component, element or accessory designed or manufactured by Livart Marine or any of its sub-contractors Project means the design, manufacture, delivery and installation of the Product Proposal means the documents (including these Terms of Sale) comprising the offer by Livart Marine to supply the Product Shipment means Product transported under the terms of a single bill of lading or air waybill, irrespective of the quantity or number of containers, packages or pieces.


        The reception and acceptance by Livart Marine of a purchase order from the Buyer shall constitute an unconditional acceptance by the Buyer of these Terms of Sale. No modifications to the Terms of Sale shall be binding unless expressly agreed to in writing by both Parties.


        Unless specifically stipulated as being binding, the delivery dates detailed in the Proposal are Livart Marine’s best approximation of the time required to execute the Project. Delivery performance is conditional upon prompt receipt from the Buyer of all specifications, final approved drawings and any other details essential to the proper execution of the Project including but not limited to the establishing of the agreed upon payment facilities. The Buyer shall inspect each shipment of the Product immediately upon receipt thereof and inform Livart Marine by e-mail (confirmed delivery) or by fax of any missing or damaged parts of the shipment within three working days of the date of said delivery. The shipment of Product shall be deemed to be acceptable to the Buyer if no such notice is received by Livart Marine. Livart Marine reserves the right to stop shipment of an order for the Product without liability, loss or claim against Livart Marine if the Buyer is in default of any payment or financing obligations.

        TITLE & RISK

        So long as any sum remains owing by the Buyer to Livart Marine the latter shall remain the sole and exclusive owner of the Product. The Product sold hereunder shall be at the Buyer’s risk upon delivery to the Buyer and the loss or destruction of all or part of said Product shall not release the Buyer from any obligations of payment hereunder.


        Should the Buyer decide to cancel or to postpone for an indefinite period of time all or part of the Project the Buyer shall indemnify Livart Marine in full for all direct and indirect costs, and for all losses including lost profits incurred to that point in the execution of the Project, as well as for any cancellation penalties charged to Livart Marine by its sub-contractors or suppliers. In the event that the Buyer suspends the Project for a period of more than ninety (90) days, Livart Marine reserves the right, at its option, to be indemnified by the Buyer either as if the Project had been cancelled or postponed indefinitely, or for any increase in the materials, labour or transportation costs of the Product.


        Livart Marine reserves the right to perform any corrective work to the Product. Livart Marine will accept no claims or charges for corrective work performed by Buyer, or on Buyer’s behalf by third parties, unless Livart Marine has given prior written consent to such work.


        Livart Marine does not warrant that the Product complies with local or national codes or standards. It is the responsibility of the Buyer to obtain any local or national permits as well as any other approvals necessary for the execution of the Project. INFORMATION PROVIDED BY BUYER Livart Marine has assumed that information provided by Buyer, or by any third party acting on Buyer’s behalf, for the purposes of making this proposal, is complete and accurate. If there are errors or omissions in this information that materially affect the cost and schedule of the project Livart Marine will be entitled to a corresponding adjustment in the contract price and schedule.


        If subsequent to the presentation of the Proposal or the signing of the Contract Livart Marine encounters site conditions unknown to it and which materially affect the cost and schedule of the project, Livart Marine shall be entitled to an adjustment in the contract price and schedule.


        Neither party shall be liable for delays in the execution of its obligations due to causes beyond its reasonable control including but not limited to acts of God, fires, strikes, labor disturbances, floods, epidemics, quarantine restrictions, war, insurrection or riot, terrorist acts, acts of a civil or military authority, prohibition of imports or other acts by any government authority, severe weather, or inability to obtain necessary materials from sub-contractors (“Force Majeure”). In the event of any such delay, and upon prompt written notice to the party not subject to the Force Majeure, the party invoking this section shall be excused, and the time for the performance shall be extended for an amount of time at least equal to the period of the delay. In the event that the Force Majeure - induced delay continues for a period of ninety (90) days Livart Marine shall have the right to cancel the order of the Product affected by such Force Majeure.


        The Buyer shall assume all liability, including but not limited to liability for personal injury, property damage, economic loss and business interruption, and for claims arising from the actual use of the Product. The Buyer agrees to indemnify and hold harmless Livart Marine from any all claims, demands, actions or suits arising from the use of the Product, including reasonable legal fees and costs.


        Any and all disputes arising hereunder shall be settled by confidential, final and binding arbitration, before a sole arbitrator, mutually agreed upon by the parties according to the rules of arbitration pursuant to the rules of the China International Economic and Trade Arbitration Commission, with the number of arbitrators to be three, the arbitration to be conducted in the English language, and an arbitration award to be deemed a final award and binding on both Parties.


        Livart Marine is the sole owner of all trade marks and symbols, trade names, copyrights, patents, industrial designs and models associated with the Product.


        All plans, drawings, technical specifications, documents, and information relating to the design, manufacture and installation of the Product provided hereunder shall be treated in confidence by Buyer who shall ensure the confidentiality thereof. They may not be copied or reproduced, or communicated to a third party, other than agents or subcontractors of the Buyer, in any way whatsoever, nor used for the manufacture of the Product or parts thereof. They may be used only for the installation, operation and maintenance of the floating dock system. All confidential information submitted with tenders that do not result in an order shall be returned to Livart Marine upon request.


        In the event of a conflict between the Terms of Sales and conditions specified in the accompanying Proposal, the conditions specified in the Proposal shall prevail over these Terms of Sale. All notices required to be sent hereunder will be in writing and will be deemed to have been given when sent by e-mail (with confirmed delivery) or by fax to the e- mail address or fax number of Livart Marine shown in the Contract. If any provisions of these Terms and Conditions of Sale are held to be invalid or unenforceable, the remaining provisions will remain in full force. The waiver by either party of any default or breach of these Terms of Sale will not constitute a waiver of any other or subsequent default or breach. The Buyer shall not assign or transfer, in whole or in part, its rights or obligations under this Contract without the prior written consent of Livart Marine.