Summit Valve and Controls ltd

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1) Contracts - By ordering or accepting any goods from Summit Valve and Controls Incorporated (hereafter referred to as "Summit"), Buyer agrees to the terms and conditions set forth herein and in any attachments hereto. It is agreed that any purchase order or other document made or issued by Buyer incorporates these terms and conditions and excludes all other terms and conditions. Purchase orders and other documents which modify, make additions to, contradict, or are in any way inconsistent with the terms and conditions stated herein are not considered accepted, and thus a contract, until acknowledged in writing by Summit and delivered to Buyer. Subject to the foregoing, any different or additional terms in a purchase order or other document of Buyer are hereby expressly rejected, notwithstanding Summit's act of shipping or delivering goods or similar act of Summit. Summit's agreement to provide Goods is expressly conditioned upon Buyer's acceptance of the terms and conditions contained herein. Quotations by Summit are for immediate acceptance unless Summit states in writing a definite time period of validity within which the quotation may be accepted (in whole) to be valid. 2) Prices -List prices and discount schedules of all Summit products are subject to change without notice. All orders will be invoiced at the prices in effect at the time an order is accepted by Summit. Any order whose delivery is delayed as per Buyer's request or is scheduled by Summit in excess of one hundred and twenty days will be invoiced at the published list prices and discounts effective at the shipment time or at the prices specifically agreed upon at the time of order acceptance by Summit. 3) Taxes - Unless otherwise indicated, prices are exclusive of all municipal, provincial and federal taxes, customs, duties and other levies. All taxes, customs, duties and other levies, either present or future that Summit may be required to pay or collect under any existing or future law upon or with respect to the sale, purchase, delivery, shipment, storage, processing, use or consumption of any of the Goods, including but not limited to taxes upon or measured by the receipts from sale, use, excise, value added and other similar taxes, thereof, shall be for the account of Buyer. Buyer shall indemnify Summit for any amounts which Summit is required to make payment of due to Buyer's failure to do so. 4) Ownership - Title and ownership of all Goods will remain with Summit until full payment to Summit of all accounts due with respect to the Goods. However, all risk of loss of the Goods will be assumed by Buyer upon delivery to Buyer in accordance with these terms and conditions. Buyer shall keep the Goods fully insured with loss payable to Summit from the time of passage of risk until the purchase price has been fully paid by Buyer. Upon request, Buyer shall furnish to Summit evidence of insurance as required by this section 4.

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