Common use of Trade Term Clause in Contracts

Trade Term. 2.1 This contract shall become effective immediately after being signed by both parties. 2.2 The Seller shall ship the equipment to the buyer’s work site and complete the installation within 60 days from the effective date. 2.3 The Seller’s technician shall inspect the power system in the Buyer’s work site and measure the current electricity usage 7 days before the installation. The Seller shall test the Equipment 7 days after the installation to make sure that the minimum energy saving rate of Equipment will reach to 8 %. 2.4 The warranty of the Equipment provided by the manufactory is 10 years. The Seller shall assist the Buyer to contact with the manufactory during that period. 2.5 The manufactory’s warranty shall include: 2.5.1 During the warranty period, the manufactory shall provide free repair or replacement for any damage occurred under normal operation after being inspected and confirmed by the Seller’s technical person.