This Cancellation Policy (“Policy”) is being delivered to you (“Buyer”) and describes (i) the practices, policies and procedures of Valve Distributors Pty Ltd (“Seller”) upon Seller’s receipt from Buyer of a cancellation of a Purchase Order Contract (“POC”) and (ii) the Buyer’s obligations to Seller upon Seller’s acceptance of Buyer’s request for cancellation of a POC
Seller is under no obligation to accept any request for cancellation of a POC. Seller may accept a request for cancellation of a POC in its sole discretion.
Any request for cancellation must be in writing and delivered either via electronic mail to: email@example.com or via by registered mail to: Valve Distributors Pty Ltd, Unit 27/322 Annangrove Road, Rouse Hill, NSW, 2155, Australia.
Upon Seller’s acceptance of Buyer’s request for cancellation of a POC, the Seller shall immediately suspend further processing on the POC on the date such notification is accepted to the extent specified in the request for cancellation.
Upon Seller’s acceptance of Buyer’s request for cancellation of a POC, the following cancellation charges, shall be immediately due and payable by Buyer to Seller:
Stock Goods: Stock goods are considered finished goods, warehoused in Australia, 30% re-stocking fee including freight costs. Goods return transport and associated freight charges are buyer’s responsibility.
Non-stock Goods: Non-stock goods are considered as buy-ins or OEM manufactured product
- Administration fee: ($150.00 incl gst), within 1 working week of order
- Fifty percent (50%) of the POC Value (as defined below) of Goods (as defined below) for which the OEM has melted material which is still in ingot form, plus
- Seventy percent (70%) of the POC Value of Goods for which the OEM has in production beyond ingot form and prior to Valve Distributors’final routing, plus
- Ninety-five percent (95%) of the POC Value of Goods for which the Seller has on the Valve Distributors’ final routing, or has stocked in a Valve Distributors’warehousing facility, or has stocked in finished goods inventory or any other finished goods produced for or purchased for the Buyer, plus
- One Hundred percent (100%) of all shipping, duty, customers charges, and/or insurance fees on Goods that have been shipped prior to Seller’s acceptance of the Buyer’s request for cancellation of the POC, plus
- All costs of Seller arising out of the cancellation of the POC and settling and paying claims arising, directly or indirectly, out of the cancelled POC, including, but not limited to attorneys’ and other professional
For the purposes of this Policy, “Goods” means goods contracted to be purchased by Buyer from Seller pursuant to the terms of the POC and for which Seller has accepted Buyers’ request for cancellation. For the purposes of this Policy, “POC Value” means the price Buyer has contracted to pay for the Goods upon Sellers’ completion of its obligations under the POC, less any shipping, duty, customers charges, and/or insurance fees on Goods that have not been shipped prior to Sellers’ for cancellation of the POC.
Sellers’ acceptance of Buyers’ request for POC cancellation does not affect the Buyers’ liability for payment in full under the terms and conditions of the POC for any and all Goods shipped to the Buyer prior to written notification of cancellation.
Buyers’ request for cancellation of a POC shall constitute an offer to waive all claims of Buyer, its affiliates, customers, partners or others arising directly or indirectly out of such POC against Seller and its affiliates. Following Sellers’ acceptance of Buyers’ request for cancellation of a POC, Seller and its affiliates shall have no further liability to Buyer, its affiliates, customers, partners or others arising directly or indirectly out of such POC.
In addition, following Sellers’ acceptance of Buyers’ request for cancellation of a POC, Buyer shall defend, indemnify, and hold Seller and its affiliates and each of their employees, officers, directors, shareholders, contractors and agents harmless from any and all third party claims (whether actual or threatened), liability, loss, damage, or expense or cause of action arising directly or indirectly out of a cancelled POC, including without limitation reasonable legal fees and expenses arising out of or related to Sellers’ breach or alleged breach of the POC or any of the representation and warranties contained therein. Seller shall promptly notify Buyer of such claim and shall, at Buyers’ expense, provide reasonable cooperation to Buyer in defense or settlement of such claim. Buyer shall have sole control over the defense and settlement of any such third party claim; however, Buyer shall not acquiesce to any judgment or enter into any settlement that adversely affects Seller’s rights or interest without prior written consent of Seller.