Binding Offer definition
Examples of Binding Offer in a sentence
The Seller shall have the right to require from the Buyer securities for payment before performing any delivery of Goods, including the right to cancel or terminate any Binding Offer or Order Confirmation or contracts in the following cases, which shall not be limitative: - bankruptcy proceedings, reorganisation plan with creditors (whether amicable or decided by a court) and/or any other procedure evidencing the insolvency of the Buyer.
The Seller warrants that the Goods shall be in conformity with the Binding Offer or the Order Confirmation.
Unless otherwise provided for in the Binding Offer or in the Order Confirmation, the Goods will be delivered EXW site of Seller, Belgium (Incoterms 2010) and the Goods shall be delivered on the date (the “Delivery Date”) specified in the Binding Offer or Order Confirmation, subject to the provisions of § 6 here below.
Unless otherwise provided for in the Binding Offer or Order Confirmation, prices of the Goods, VAT and other charges excluded, are quoted “EXW site of Seller, BELGIUM” (INCOTERMS 2010) However, if a price increase of more than 5% is effective between the date of the Binding Offer or the Order Confirmation and the Delivery Date (as defined in § 5 here below), such Binding Offer or Order Confirmation shall be modified accordingly.
Any claim in relation to the quality of the Goods which would not comply with the specifications as resulting from the Binding Offer or Order Confirmation must be notified to the Seller within the same eight (8) working day’s period or immediately upon discovery, whichever is the first.