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Sale of Goods Agreement
UAE Jurisdiction
This Sale of Goods Agreement, hereinafter referred to as "Agreement," is entered into and made effective as of the date set forth at the end of this document by and between the following parties:
- FAST TRACK TRADING LLC, a Limited Liability Company, organized under the laws of the United Arab Emirates, having its principal place of business at the following address:
801, Sabkha Building,
Al Maktoum Hospital Road
Sabkha, Deira, Dubai,
UAE PO BOX: 44120
Dubai, UAE
- Buyer Name & Buyer Address as noted in the INVOICE and registered in the portal of www.habibidealz.com for the purpose of the sale.
Hereinafter, "Seller" will refer to and be used to describe the following party: FAST TRACK TRADING LLC. "Buyer" will refer to and be used to describe the following party: Web-Buyer. Seller and Buyer may be referred to individually as "Party" and collectively as the "Parties."
RECITALS:
WHEREAS, Seller wishes to offer for sale certain Goods, as defined below;
WHEREAS, Buyer wishes to buy such Goods from Seller;
NOW, therefore, in consideration of the promises and covenants contained herein, as well as other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the Parties do hereby agree as follows:
Article 1 - SALE:
Seller hereby agrees to sell, and Buyer agrees to buy, the following:
- All Items highlighted in the Invoice.
Article 2 - PRICE:
For the sale of the Goods Buyer agrees to pay and Seller agrees to accept the following total amount, regardless of the number of shipments:
Amount Mentioned in the Invoice (the "Purchase Price").
This Purchase Price is exclusive of any applicable taxes and all taxes shall be highlighted in the VAT column. Present TAX is only VAT @5%, Any future tax shall reflect on the invoice.
A deposit of the following amount is required:
- All Items highlighted in the Invoice.
The Seller and the Buyer each acknowledge the sufficiency of the Purchase Price as consideration.
Unless otherwise explicitly agreed to by each of the parties, any sales tax or other similar tax, such as use or excise tax applicable to the sale of the Goods will be paid by the Buyer, or the Buyer agrees to provide the Seller with a legitimate and acceptable tax exemption certificate.
Article 3 - INVOICING & PAYMENT:
The Purchase Price will be paid in only one of the following methods of payment:
- wire transfer, cash, credit card, paypal, etc.
Unless the Parties have agreed otherwise through a written addendum to this Agreement which has been duly executed, the Purchase Price will be due to the Seller as follows:
- 100% Advance on ordering
In the event that payment of the Purchase Price is late, Seller has the option to consider Buyer in breach and terminate this Agreement in full.
Article 4 - DELIVERY:
The initial shipment of Goods will be delivered from the Seller to the Buyer at a mutually-agreed upon date and time as specified on the ordering portal. Seller will do it on a best effort basis without any liability.
The execution for delivery of the Goods will be at Buyer's address, as listed at the head of this Agreement.
Article 5 - RISK OF LOSS:
Risk of loss for the Goods will transfer from the Seller to the Buyer when Buyer receives ownership of the Goods through a duly executed bill of sale or when Seller delivers the Goods to the shipping agent as specified on the order.
Article 6 - TIME FOR DELIVERY
Any dates or times agreed upon by the Parties for delivery of shipments of the Goods are estimates only and time shall not be of the essence for delivery. Seller shall not be liable for any losses, expenses, or damages for failure to meet any delivery date or time.
Article 7 - DISCLAIMER OF WARRANTY:
Buyer and Seller each agree that the Goods are being sold "as is" and that Seller hereby expressly disclaims any and all warranties of quality, whether express or implied, including but not limited the warranties of merchantability and fitness for a particular purpose.
All warranties are from manufacturer based on manufacturer specifications.
Buyer acknowledges that it is relying solely on its own investigations, inspections and/or examinations and has not been induced by the Seller or any of Seller's agents or representatives making any statements as to the quality or condition of the Goods.
Article 8 - INSPECTION:
Buyer acknowledges and agrees that it will make a full inspection, investigation and/or examination of the Goods as soon as is practicable upon delivery but in no event later than 1 business day.
Article 9 - LIMITATION OF LIABILITY:
In no event will Seller's liability exceed the total amount paid by Buyer to Seller for the totality of all shipments for any cause of action or future claim. Buyer hereby acknowledges and agrees that Seller is not liable for any special, indirect, consequential or punitive damages, including but not limited to lost profits and/or loss of business, arising out of or relating to this Agreement in any way.
Article 10 - SECURITY INTEREST & TITLE:
Buyer hereby grants Seller a security interest in the Goods until the full Purchase Price has been received by the Seller. This security interest includes any proceeds, including accounts receivable, obtained. If Seller requests, Buyer shall execute and deliver any document required to perfect this security interest.
Title to the Goods will remain with the Seller until the full Purchase Price is received and Buyer is in actual physical possession of the Goods or until Seller delivers a duly executed bill of sale to the Buyer.
Article 11 - CLAIMS:
The Buyer's failure to give notice of any claim within 1 day from the date of delivery of the Goods will constitute complete and total acceptance of the Goods and Buyer will therefore waive any and all claims regarding or related to the Goods.
Article 12 - GENERAL PROVISIONS:
- GOVERNING LAW: This Agreement shall be governed in all respects by the laws of UAE and any applicable local law. Both Parties consent to jurisdiction as Dubai courts within UAE. The Parties agree that this choice of law, venue, and jurisdiction provision is not permissive, but rather mandatory in nature.
- LANGUAGE: All communications made or notices given pursuant to this Agreement shall be in the English language.
- ASSIGNMENT: This Agreement, or the rights granted hereunder, may not be assigned, sold, leased or otherwise transferred in whole or part by either Party.
- AMENDMENTS: This Agreement may only be amended in writing signed by both Parties.
- NO WAIVER : None of the terms of this Agreement shall be deemed to have been waived by any act or acquiescence of either Party. Only an additional written agreement can constitute waiver of any of the terms of this Agreement between the Parties. No waiver of any term or provision of this Agreement shall constitute a waiver of any other term or provision or of the same provision on a future date. Failure of either Party to enforce any term of this Agreement shall not constitute waiver of such term or any other term.
- SEVERABILITY: : If any provision or term of this Agreement is held to be unenforceable, then this Agreement will be deemed amended to the extent necessary to render the otherwise unenforceable provision, and the rest of the Agreement, valid and enforceable. If a court declines to amend this Agreement as
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provided herein, the invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of the remaining terms and provisions, which shall be enforced as if the offending term or provision had not been included in this Agreement.
- ENTIRE AGREEMENT :This Agreement constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous understandings, whether written or oral.
- HEADINGS : Headings to this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.
- COUNTERPARTS : This Agreement may be executed in counterparts, all of which shall constitute a single agreement. If the dates set forth at the end of this document are different, this Agreement is to be considered effective as of the date that both Parties have signed the agreement, which may be the later date.
- FORCE MAJEURE/EXCUSE : Neither Party is liable to the other for any failure to perform due to causes beyond its reasonable control including, but not limited to, acts of God, acts of civil authorities, acts of military authorities, riots, embargoes, acts of nature and natural disasters, and other acts which may be due to unforeseen circumstances. Seller is not liable for any delivery delay or non-performance caused by labor or transportation disputes or shortage, material delays, or delays or nonperformance caused by any of Seller's suppliers.
If Seller is unable to perform for any reason within 30 (thirty) days after the expected date of delivery, Seller may terminate this Agreement in full and provide a complete and total refund to Buyer of any fees paid.
If Seller is unable to perform for any reason within 30 (thirty) days after the expected date of delivery, Seller may terminate this Agreement in full and provide a complete and total refund to Buyer of any fees paid.