BINDING TERMS AND CONDITIONS OF SALE

The following are the terms and conditions (“Terms and Conditions”) for the sale of products (“Products”) by Fav-tech Company. (“Fav-tech “) to Fav-tech ‘s customers (“Customers”).

1. ACCEPTANCE AND CANCELLATION OF ORDERS
All orders are subject to acceptance in writing by Fav-tech or a duly authorized agent of Fav-tech. Any written acknowledgement of receipt of an order shall not, in and of itself, constitute such acceptance. Orders accepted by Fav-tech may be cancelled by Customer upon written consent of Fav-tech provided such order is not “NC/NR” or “Non-Cancelable/Non-Returnable”, “Non-Standard Products” or governed by a Purchase Agreement Letter. Non-Standard Products are defined as Products that are special orders, custom orders, orders for non-standard products, products not customarily in stock or orders for value-added products. Non-standard products are non-cancelable and non-refundable. In the event of cancellation or other withdrawal of an order for any reason, and without limiting any other remedy which Fav-tech may have as a result of such cancellation or other withdrawal, reasonable cancellation or restocking charges shall include all expenses incurred and commitments made by Fav-tech and shall be paid by Customer to Fav-tech. Customer requests to reschedule are subject to acceptance by Fav-tech in its sole discretion. Orders may not be canceled or rescheduled after the order has been submitted by Fav-tech to the shipment carrier.Fav-tech reserves the right to allocate sales and limit quantities of selected Products among its customers in its sole discretion. Product specifications and availability are subject to change without prior notice.

1a. Returns
Returns are normally accepted when completed within 30 days of the ship date. If Fav-tech agrees to accept a return, return freight charges must be prepaid by customer.

Fav-tech will not accept COD shipments. Some products may require return directly to the manufacturer. All items must be in the original packaging and in resalable condition. Contact a sales representative for a Return Materials Authorization Number and addressing instructions prior to returning product. Any ESD sensitive product returned that has not been handled properly will not be eligible for credit. The foregoing statements concerning Returns do not apply to NON-CANCELABLE/NON-RETURNABLE PRODUCTS. (See the NON-CANCELABLE/NON-RETURNABLE PRODUCTS section in these terms.)

1b. Counterfeit Product Prevention Clause
Only products originally shipped from Fav-tech or from a supplier at Fav-tech ‘s direction (drop-ship) will be returned to Fav-tech. All others will be promptly quarantined and disposed of or returned to the customer. By a Customer returning products to Fav-tech, the Customer certifies that the products were purchased from Fav-tech and there has been no substitution in whole or part of same product from another supplier, distributor or other such source of the product. The return should be in the original packaging (manufacturer or Fav-tech), in unused condition (except defective). ESD sensitive products should not be opened except under controlled conditions.

2. PRICES
Orders are billed at the prices in effect at the time of shipment. Prices will be as specified by Fav-tech and will be applicable for the period specified in Fav-tech ‘s quote. If no period is specified, quoted prices will be applicable for thirty (30) days. The catalog reflects the latest pricing information available at the time of printing. Prices shown in the catalog are subject to change without notice. Prices are subject to increase in the event of an increase in Fav-tech ‘s costs or other circumstances beyond Fav-tech ‘s reasonable control. If Customer does not purchase the quantity upon which quantity prices are based, Customer will pay the non-discounted price for the quantity actually purchased and/or a cancellation or restocking fee. Prices are exclusive of taxes, impositions and other charges, including sales, use, excise, value-added and similar taxes or charges imposed by any government authority, international shipping charges, forwarding agent’s and broker’s fees, bank fees, consular fees, and document fees.

3. TERMS OF PAYMENT
All payments must be made in the currency billed on the original invoice. Credit cards accepted include major credit cards, purchase cards, and major bank debit cards including MasterCard, VISA, Diners Club, Discover, and American Express. Credit Card billing information must be verified on new customers prior to shipment of order. Payment via net thirty (30) days is available to businesses, schools, and agencies with three references or as otherwise specified by Fav-tech. Prepaid Wire Transfer/EFT/Proforma: Customers can wire the funds to our bank. After your order is placed we will e-mail a Proforma invoice which includes our bank information, the merchandise total and shipping charges. We will reserve stock for your order for 72 hours on orders awaiting funds. Orders will be canceled after 20 business days if funds have not been received. Customer is responsible for duties and taxes.

3.1 TERMS OF PAYMENT
For All Orders
Customer agrees to pay the entire net amount of each invoice from Fav-tech pursuant to the terms of each such invoice, without offset or deduction. Orders are subject to credit approval by Fav-tech, which may in its sole discretion at any time change the terms of Customer’s credit, require payment in cash, bank wire transfer/EFT or by official bank check, and/or require payment of any or all amounts due or to become due for Customer’s order before shipment of any or all of the Products. If Fav-tech reasonably believes that the Customer’s ability to make payments may be impaired or if Customer fails to pay any invoice when due, Fav-tech may suspend delivery of any order or any remaining balance thereof, until such payment is made or cancel any order or any remaining balance thereof. Customer will remain liable to pay for any Products already shipped and all Non-Standard Products ordered by Customer. Customer agrees to submit such financial information as Fav-tech may reasonably require for determination of credit terms and/or continuation of credit terms. Checks are accepted subject to collection and the date of collection will be deemed the date of payment. Any check received from Customer may be applied by Fav-tech against any obligation owing by Customer to Fav-tech under this or any other contract, regardless of any statement appearing on or referring to such check, without discharging Customer’s liability for any additional amounts owing by Customer to Fav-tech. The acceptance by Fav-tech of such check will not constitute a waiver of Fav-tech ‘s right to pursue the collection of any remaining balance. Invoices not paid when due will bear interest to date of payment at the annual rate of eighteen (18%) percent or such lower rate as may be the maximum permitted by law. If Customer fails to make payment when due, Fav-tech may pursue any legal or equitable remedies, in which event Fav-tech will be entitled to reimbursement of costs for collection and reasonable attorneys’ fees. There is a $25 (USD) service charge on all returned checks.

4. SALES TAX
US Shipments
When required by law Fav-tech will collect Federal, State and/or Local sale, use, excise, and other taxes that apply to a Customer’s shipment. These taxes are in addition to the purchase price of the Products subject to an order. Customer will remit the correct tax unless customer is tax exempt and Fav-tech has a valid signed tax exemption certificate on file.

INTERNATIONAL Shipments
All applicable VAT, PST, HST, and/or GST charges along with brokerage fees will be the responsibility of the Customer and due at the time of delivery.

5. DELIVERY AND TITLE
All shipments by Fav-tech are F.O.B. point of shipment from Fav-tech ‘s facility and the amount of all transportation charges will be paid to Fav-tech by the Customer in addition to the purchase price of the Products. Subject to Fav-tech ‘s right of stoppage in transit, delivery of the Products to the carrier will constitute delivery to Customer and title and risk of loss will pass to Customer. Fav-tech will make reasonable efforts to initiate shipment and schedule delivery as close as possible to Customer’s requested delivery date(s). Customer acknowledges that delivery dates provided by Fav-tech are estimates only and that Fav-tech will not be liable for failure to deliver on such dates. Selection of the carrier and delivery route will be made by Fav-tech unless specifically designated by Customer. Fav-tech reserves the right to make deliveries in installments. Delay in delivery of one installment will not entitle Customer to cancel any other installment(s). Delivery of any installment of Products within thirty (30) days after the date requested will constitute a timely delivery. Delivery of a quantity that varies from the quantity specified shall not relieve Customer of the obligation to accept delivery and pay for the Products delivered.

6. LIMITED WARRANTY
Fav-tech agrees to transfer to Customer whatever transferable warranties Fav-tech receives from the manufacturer of Products sold to Customer. Fav-tech makes no other warranty, express or implied, with respect to the Products. IN PARTICULAR, Fav-tech MAKES NO WARRANTY RESPECTING THE MERCHANTABILITY OF THE PRODUCTS OR THEIR SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR USE OR RESPECTING INFRINGEMENT. Fav-tech ‘s liability arising out of any sale of products to Customer is expressly limited to either (1) Refund of the purchase price paid by Customer for such Products (without interest), or (2) Repair and/or replacement of such Products, at Fav-tech ‘s election, with such remedies exclusive and in lieu of all others. Customer must notify Fav-tech within 90 days from date of shipment of any defective product. This warranty is in lieu of any and all other warranties, whether oral, written, expressed, implied or statutory. Implied warranties of fitness for a particular purpose and merchantability are specifically excluded and shall not apply. Customer’s obligations and Fav-tech ‘s remedies with respect to defective or nonconforming products, are solely and exclusively as stated herein. Furthermore, no warranty will apply if the Product has been subject to misuse, static discharge, neglect, accident, modification, or has been soldered or altered in any way.

7. COMPLIANCE AND LEAD-FREE POLICY
It is the policy of Fav-tech Electronics to identify and offer products to the Customer as RoHS Compliant or Lead Free, only after specific requirements have been met. Fav-tech performs no testing of product and relies solely on the manufacturer of the product for identification of RoHS Compliance and for absence of lead. Furthermore, Fav-tech makes no warranty, certification or declaration of compliance concerning said Products. Product is advertised or offered as RoHS Complaint or Lead-Free only after sufficient evidence is received from the component manufacturer; and any inventory, either in a bin or on order, has been determined to be RoHS compliant and/or Lead Free. Any relevant evidence will be filed and maintained for at least four years from the date of receipt. Fav-tech defines the term “RoHS” as supplier declared compliance to all restricted hazardous substance regulations under the ELV, WEEE or RoHS EU directives, regulations or laws. Fav-tech defines the term “Lead Free” as pertaining to any product that has been declared by a Supplier to be “Lead Free”. All statements by Fav-tech of RoHS compliance are based on producer documentation.

7a. CORPORATE WEEE POLICY
Fav-tech Electronics is not registered as a “producer” in the European Union, and does not provide a WEEE recycling program within the EU. A very small number of products that Fav-tech sells are subject to the European Union Directive 2002/96/EC known as WEEE. Therefore, it is the policy of Fav-tech Electronics to not export or place on the market, EEE classified products (as defined by EU Directive 2002/96/EC) to Customers within the European Union member countries.

7b. PRODUCT COUNTRY OF ORIGIN
Fav-tech Electronics maintains Country of Origin information on all products in its inventory. This information is provided to customers on product labels and product shipping documents. This information is based on manufacturer-provided information according to US Treasury, US Customs Regulations. Our manufacturers do not provide Fav-tech with the country of origin of each raw material or subcomponent that is incorporated into the Manufacturer’s final product.

8. LIMITATION OF LIABILITIES
IN NO EVENT SHALL Fav-tech BE LIABLE FOR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY NATURE including, but not limited to, damages resulting from loss of profit or revenue, recall costs, claims for service interruptions or failure to supply downtime, testing, installation or removal costs, costs of substitute products, property damage, personal injury, death or legal expenses. Customer’s recovery from Fav-tech for any claim shall not exceed the purchase price paid by Customer for the goods, irrespective of the nature of the claim, whether in warrant, contract or otherwise. CUSTOMER SHALL INDEMNIFY, DEFEND AND HOLD Fav-tech HARMLESS FROM ANY CLAIMS BROUGHT BY ANY PARTY REGARDING PRODUCTS SUPPLIED BY Fav-tech AND INCORPORATED INTO THE CUSTOMER’S PRODUCT.

9. PRODUCT SAFETY NOTICE AND RESTRICTIONS
Products are intended for commercial use only. Products are traceable to the OEM manufacturer and Lot/Date Code where available and when requested at the time of customer order. Fav-tech does not determine the specifications or conduct any performance or safety testing of any products that it sells. Specification sheets provided to Customers are produced by the manufacturer or transcribed from information provided by the manufacturer. Fav-tech is not a Qualified Manufacturers List (QML) supplier or a supplier of Qualified Product Listing (QPL) components. Customer agrees that all purchases are for commercial or other applications that do not require QPL components. Any reference to military specifications in our catalog or on our website is for reference only and does not modify these terms and conditions. Fav-tech does not participate in any product safety engineering, product safety review or product safety testing. Fav-tech cannot provide any safety testing, safety evaluation or safety engineering services. Products sold by Fav-tech are not designed, intended or authorized for use in life support, life sustaining, human implantable, nuclear facilities, flight control systems, or other applications in which the failure of such Products could result in personal injury, loss of life or catastrophic property damage. This includes, but is not limited to, Class III medical devices as defined by the US Food and Drug Administration (FDA) and Federal Aviation Administration (FAA) or other airworthiness applications. If Customer uses or sells the Products for use in any such applications:
(1) Customer acknowledges that such use or sale is at Customer’s sole risk; (2) Customer agrees that Fav-tech and the manufacturer of the Products are not liable, in whole or in part, for any claim or damage arising from such use; and (3) CUSTOMER AGREES TO INDEMNIFY, DEFEND AND HOLD WORLDWAY AND THE MANUFACTURER OF THE PRODUCTS HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS, DAMAGES, LOSSES, COSTS, EXPENSES AND LIABILITIES ARISING OUT OF OR IN CONNECTION WITH SUCH USE OR SALE.

10. STATEMENTS AND ADVICE
If statements or advice, technical or otherwise, are offered or given to Customer, such statements or advice will be deemed to be given as an accommodation to Customer and without charge. Fav-tech shall have no responsibility or liability for the content or use of such statements or advice. Fav-tech Technical support is provided by telephone and, therefore, extremely limited in scope which prevents us from the direct participation in the design of any customer products. We do not conduct product suitability studies or engineering reviews of products that we sell, nor for the final product that a Customer produces.

11. NON-CANCELABLE/NON-RETURNABLE PRODUCTS
From time to time, Seller will notify Buyer of a product that is “NC/NR”, (Non-Cancelable/Non-Returnable) upon determining that an order requires such conditions of sale. Buyer understands that “NC/NR” products are obtained by Fav-tech from the manufacturer specifically for the buyer. Irrespective of circumstances, the buyer agrees that “NC/NR” products may not be cancelled, returned or rescheduled by the buyer without the agreement of both Fav-tech ‘s supplier and the written consent of Fav-tech Electronics. Any Mil-Spec product purchased from Fav-tech Electronics is Non-Cancelable/Non-Returnable. Products labeled as moisture sensitive are NC/NR if the packaging has been opened. All products purchased by Customers classified by Fav-tech Electronics as Electronic Component Distributors or Brokers shall be deemed Non-Cancellable/Non-Returnable.

12. INTELLECTUAL PROPERTY
If an order includes software or other intellectual property, such software or other intellectual property is provided by Fav-tech to Customer subject to the copyright and user license, the terms and conditions of which are set forth in the license agreement accompanying such software or other intellectual property. Nothing herein shall be construed to grant any rights or license to use any software or other intellectual property in any manner or for any purpose not expressly permitted by such license agreement. Unopened software may be returned for credit. Opened software may not be returned unless defective.

13. FORCE MAJEURE
Fav-tech will not be liable for delays in delivery or for failure to perform its obligations due to causes beyond its reasonable control including, but not limited to, product allocations, material shortages, labor disputes, transportation delays, unforeseen circumstances, acts of God, acts or omissions of other parties, acts or omissions of civil or military authorities, Government priorities, fires, strikes, floods, severe weather conditions, computer interruptions, terrorism, epidemics, quarantine restrictions, riots or war. Fav-tech ‘s time for delivery or performance will be extended by the period of such delay or Fav-tech may, at its option, cancel any order or remaining part thereof, without liability by giving notice to Customer.

14. EXPORT CONTROL
Fav-tech Electronics verpflichtet sich, alle US-amerikanischen Exportvorschriften und -gesetze einzuhalten. Fav-tech wird nicht in Länder verkaufen oder versenden, die unter ein Embargo des Office of Foreign Assets Control (OFAC) des US-Finanzministeriums fallen. Fav-tech wird nicht an Einzelpersonen oder Organisationen verkauft oder versandt, die vom US-Finanzministerium als besonders designierte Staatsangehörige und blockierte Personen identifiziert wurden. Fav-tech verkauft oder transportiert keine Produkte, die nach den Exportvorschriften verboten sind, an Personen oder Organisationen, die vom Industrial and Security Bureau (BIS) des US-Handelsministeriums identifiziert wurden. Fav-tech wird keine Ausfuhrlizenzen gemäß den Ausfuhrregelungen beantragen. Fav-tech beteiligt sich an BIZ Export Enforcement und OFAC Transaction Reporting. Darüber hinaus untersagt Fav-tech die Wiederausfuhr, Vermittlung oder Weitergabe seiner Produkte an Personen, Organisationen oder Länder, die von der OFAC oder der Bank für Internationalen Zahlungsausgleich verboten sind. Der Verkauf, der Weiterverkauf oder die sonstige Entsorgung der Produkte und der dazugehörigen Technologien oder Unterlagen unterliegt den Exportkontrollgesetzen, -vorschriften und -befehlen der Vereinigten Staaten und unterliegt möglicherweise den Export- und/oder Importkontrollgesetzen und -vorschriften anderer Länder. Der Kunde verpflichtet sich, alle diese Gesetze, Vorschriften und Anordnungen einzuhalten. Der Kunde erkennt ferner an, dass er keine Produkte direkt oder indirekt in Länder exportieren darf, die den Export oder die Weitergabe von Produkten einschränken oder verbieten. Der Kunde erkennt an, dass er verpflichtet ist, etwaige Ausfuhr-, Wiederausfuhr- oder Einfuhrgenehmigungen einzuholen, soweit dies erforderlich ist

14.1 Haftungsausschluss für die Ausfuhrklassifizierung 
Die Verwendung der Fav-tech-Klassifikation, sei es in Form von ECCN oder einer Variante des harmonisierten Tarifcodes, erfolgt ohne Rückgriff auf Fav-tech und auf Gefahr des Nutzers. Die Einstufung der Ausfuhren kann sich ändern. Wenn Sie exportieren oder wieder exportieren, ist Ihr Unternehmen als registrierter Exporteur dafür verantwortlich, die korrekte Klassifizierung jedes Artikels zum Zeitpunkt des Exports zu bestimmen. Eine Ausfuhrklassifizierung von Fav-tech ist nur für den internen Gebrauch von Fav-tech bestimmt und darf nicht als Zusicherung oder Garantie hinsichtlich einer korrekten Ausfuhrklassifizierung oder als Grundlage für eine Genehmigungsentscheidung ausgelegt werden.

15. Allgemeines
Ohne die schriftliche Zustimmung von Fav-tech können die Bedingungen weder geändert noch aufgehoben werden. Die von Fav-tech angebotenen Waren und Dienstleistungen werden daher ausschließlich zu den hier genannten Bedingungen verkauft. Ungeachtet entgegenstehender oder zusätzlicher Bedingungen in einer Bestellung, einem geplanten Zeitplan, einer Bestätigung, einer Bestätigung oder einer anderen Form oder einem Dokument, das von einer der Parteien herausgegeben wurde, die den Kauf und/oder Verkauf von Produkten beeinflusst, unterliegen Produktverkäufe im Rahmen dieser Vereinbarung den Allgemeinen Geschäftsbedingungen. Die Informationen und Bedingungen auf dem Kreditantrag kontrollieren den Kunden und Fav-tech, ungeachtet der Bedingungen, die auf der Bestellung des Kunden enthalten sind. Jede widersprüchliche Erklärung oder Klausel, die in der Bestellung, Rechnung, Bestätigung oder anderen vom Kunden erstellten Unterlagen ("Kundenunterlagen") des Kunden aufgeführt ist, ob zuvor oder später eingereicht, wird durch die Einreichung des Kreditantrags und die Kreditausgabe durch Fav-tech widersprochen, und Fav-tech widerspricht hiermit allen abweichenden oder zusätzlichen Bedingungen, die in den Kundenunterlagen enthalten sind. Die Erfüllung etwaiger Verträge durch Fav-tech setzt ausdrücklich die Zustimmung des Kunden zu den Verkaufsbedingungen von Fav-tech voraus, es sei denn, Fav-tech hat ausdrücklich schriftlich etwas anderes vereinbart. In Ermangelung einer solchen Vereinbarung erfolgt der Beginn der Leistung und/oder Lieferung ausschließlich zur Bequemlichkeit des Auftraggebers und ist nicht als Annahme der Geschäftsbedingungen des Auftraggebers oder einer dieser Bedingungen anzusehen oder zu interpretieren. Sofern der Vertrag nicht durch vorherige schriftliche Vereinbarung zwischen den Parteien zustande gekommen ist, gilt die Annahme von Waren oder Dienstleistungen durch den Kunden als Annahme der in diesem Vertrag festgelegten Bedingungen durch den Kunden. Ohne die vorherige schriftliche Zustimmung von Fav-tech dürfen keine Rechte, Pflichten, Vereinbarungen oder Verpflichtungen aus diesem Vertrag durch Gesetz, Fusion oder auf andere Weise übertragen oder übertragen werden. Die Verpflichtungen, Rechte, Bedingungen und Bedingungen dieser Vereinbarung sind für beide Parteien dieser Vereinbarung und ihre jeweiligen Erben und Abtretungsempfänger bindend. Ein Verzicht auf oder ein Verstoß gegen eine Klausel, Bedingung oder Vereinbarung dieser Vereinbarung oder ein Verstoß gegen eine Bestimmung dieser Vereinbarung wird nicht als Verzicht auf eine andere Klausel, Bedingung oder Vereinbarung, die in dieser Vereinbarung enthalten ist, oder eine spätere Verletzung oder Verletzung jeglicher Art oder Art angesehen. Eine Bestimmung dieser Vereinbarung ist in einer Gerichtsbarkeit verboten oder nicht durchsetzbar und in Bezug auf diese Gerichtsbarkeit im Rahmen dieses Verbots oder dieser Nichtdurchsetzbarkeit ungültig, ohne dass die übrigen Bestimmungen dieser Vereinbarung in dieser Gerichtsbarkeit ungültig werden oder die Gültigkeit oder Durchsetzbarkeit dieser Bestimmung in einer anderen Gerichtsbarkeit beeinträchtigen. Die Allgemeinen Geschäftsbedingungen unterliegen den Gesetzen von Texas und den anwendbaren Gesetzen der Vereinigten Staaten und werden in Übereinstimmung mit diesen Gesetzen ausgelegt.