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 no es responsable de los retrasos en la entrega o el incumplimiento de sus obligaciones como resultado de una guerra que va más allá de su control razonable, incluyendo, entre otros, la distribución de productos, la escasez de materiales, las disputas laborales, las demoras en el transporte, las condiciones imprevistas, los desastres naturales, como una interrupción o como una cuestión, como una cuestión civil o como una interrupción o como una interrupción o como una cuestión civil o como una cuestión de los asuntos civiles o como una cuestión de los medios civiles. El tiempo de entrega o ejecución de Fav-tech se extenderá, o Fav-tech puede optar por cancelar el resto de cualquier pedido u orden notificando al cliente sin ninguna responsabilidad.

14.Control de exportación
Fav-tech Electronics se compromete a cumplir con todas las regulaciones y leyes de exportación de EE. UU. Fav-tech no se venderá ni se enviará a los países embargados por la Oficina de Control de Activos Extranjeros (OFAC) del Departamento del Tesoro de los EE. UU. Fav-tech no se venderá ni se entregará a personas u organizaciones identificadas por el Departamento del Tesoro de los EE. UU. Como nacionales especialmente designados y personas bloqueadas. Fav-tech no vende ni transporta productos prohibidos por las regulaciones de gestión de exportaciones a personas u organizaciones identificadas por la Oficina de Industria y Seguridad (BIS) del Departamento de Comercio de EE. UU. Fav-tech no buscará una licencia de exportación bajo las regulaciones de control de exportaciones. Fav-tech participa en la aplicación de la ley de exportación del Banco de Pagos Internacionales y en el informe de transacción OFAC. Además, Fav-tech prohíbe la reexportación, la agencia o el transbordo de sus productos a cualquier persona, organización o país prohibido por la OFAC o el Banco de Pagos Internacionales. La venta, reventa u otra disposición de productos y cualquier tecnología o documento relacionado se rige por las leyes, reglamentos y órdenes de control de exportaciones de los Estados Unidos y puede estar sujeta a las leyes y reglamentos de control de exportaciones y/o importaciones de otros países. El cliente acepta cumplir con todas esas leyes, regulaciones y órdenes. El Cliente reconoce además que no puede exportar ningún producto, directa o indirectamente, a ningún país que restrinja o prohíba la exportación o transmisión de ningún producto. El Cliente reconoce su responsabilidad de obtener cualquier licencia de exportación, reexportación o importación según sea necesario.

Descargo de responsabilidad de la clasificación de exportación 14.1 
Cualquier uso de la clasificación de Fav-tech, ya sea ECCN o cualquier variación del código de tarifa de coordinación, no recurre a Fav-tech, y el riesgo corre a cargo del usuario. La clasificación de exportación puede cambiar. Si exporta o reexporta, su empresa, como exportador registrado, tiene la responsabilidad de determinar la clasificación correcta de cualquier artículo en el momento de la exportación. Cualquier clasificación de exportación de Fav-tech es solo para uso interno de Fav-tech y no debe interpretarse como una declaración o garantía de la clasificación correcta de las exportaciones ni como base para una decisión de licencia.

15.General
Los términos y condiciones no pueden ser modificados o cancelados sin el consentimiento por escrito de Fav-tech. Por lo tanto, los bienes y servicios proporcionados por Fav-tech Fav-tech se venden solo de acuerdo con los términos y condiciones establecidos en este documento. Aunque cualquiera de las partes emite cualquier orden de compra, cronograma, confirmación, confirmación o cualquier otra forma o documento que afecte la compra y/o venta del producto, los términos y condiciones de la venta del producto bajo este acuerdo estarán sujetos a los términos y condiciones. Aunque existen términos y condiciones en los pedidos de los clientes, la información y las condiciones en las solicitudes de crédito controlan a los clientes y Fav-tech. Cualquier declaración o cláusula conflictiva enumerada en la orden de compra del cliente, factura, confirmación u otro documento generado por el cliente ("documento del cliente"), ya sea antes o después de la presentación, será presentada por Fav-tech para solicitudes de crédito y cualquier crédito emitido por Fav-VT, La ejecución de cualquier contrato por parte de Fav-tech está expresamente condicionada al consentimiento del cliente a los términos y condiciones de venta de Fav-tech, a menos que Fav-tech acuerde lo contrario por escrito. En ausencia de dicho acuerdo, el inicio del cumplimiento y/o la entrega debe ser solo para la comodidad del cliente y no debe considerarse ni interpretarse como una aceptación de los términos y condiciones del cliente o cualquiera de los términos y condiciones. Si el contrato no se forma por adelantado mediante un acuerdo escrito entre las partes, la aceptación del cliente de cualquier bien o servicio se considerará que el cliente acepta los términos y condiciones de este contrato. Ningún derecho, deber, acuerdo u obligación en virtud de este Acuerdo puede transferirse o transferirse por ley, fusión o de otro modo sin el previo consentimiento por escrito de Fav-tech. Las obligaciones, los derechos, los términos y las condiciones de este Acuerdo serán vinculantes para ambas partes de este Acuerdo y sus respectivos herederos y cesionarios. Cualquier renuncia o incumplimiento de cualquiera de los términos, condiciones o contratos de este Acuerdo, o cualquier incumplimiento de este Acuerdo, no se considerará que constituye una renuncia a ningún otro término, condición o contrato contenido en este Acuerdo o cualquier subsiguiente violación o incumplimiento de cualquier tipo o naturaleza. Cualquier disposición de este Acuerdo está prohibida o no es exigible en cualquier jurisdicción y, en el caso de esa jurisdicción, es inválida en la medida en que esté prohibida o sea inaplicable sin invalidar las disposiciones restantes de este Acuerdo en la jurisdicción o afectar la validez de la cláusula en cualquier otra jurisdicción. Los términos y condiciones se regirán por la ley de Texas y la ley aplicable de los EE. UU. Y se interpretarán de acuerdo con estas leyes.