Purchase Order Buyer Acknowledgement
Payment Terms
Buyer shall deliver the purchase price as per the attached invoice to WTS as Collecting Agent for Seller. Buyer assumes all responsibility for sales, use or other taxes associated with the sale, if any.
Shipping
WTS shall remit to Seller the purchase price due, whereupon Seller has agreed to make the Equipment available for pickup, FOB Seller's location. Seller has also agreed to (a) convey good and merchantable title in the Equipment to Buyer, free and clear of all liens and encumbrances of every nature and description; and (b) assist in loading of Equipment.
For Equipment sold on an FOB basis, Buyer acknowledges that all risk of loss passes to Buyer upon delivery of the Equipment to the freight carrier. WTS may have acted on Buyer's behalf to arrange shipping, but WTS will only be responsible for providing a Bill of Lading to the freight carrier and paying, on Buyer's behalf, the quoted shipping charges. Unless Buyer has already done so, Buyer will promptly reimburse WTS for shipping charges paid by WTS.
Equipment Condition/Disclaimers
Buyer acknowledges and agrees that all statements, descriptions, photographs etc. relating to the Equipment are the sole responsibility of Seller. Buyer has been encouraged to inspect the Equipment and to speak directly with Seller about any questions or concerns that Buyer may have. Equipment is sold AS IS, WHERE IS, and WITH ALL FAULTS. All express and implied warranties are disclaimed.
WTS Acting as Broker Only; Dispute Resolution
WTS has expended considerable time and effort to bring the Buyer and Seller together, and is serving as a broker only. WTS does not own the Equipment, and is not selling it. Therefore, if a dispute should arise between the Buyer and Seller relating to the condition, description, or any representations or warranties of any kind relating to the Equipment, Buyer acknowledges and agrees that such dispute will be solely between Buyer and Seller, and will not involve WTS in any fashion whatsoever. Any controversy or claim arising out of or relating to this transaction and which involves WTS as a party shall be settled by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Such arbitration shall be conducted by one arbitrator, and the place of arbitration shall be Indianapolis, Indiana.