6. Bindings :
6.1 Proprietary Information: Terms and conditions including information, data and documents as herein provided by THAI or hereafter are only for the purpose of submitting a Proposal and considered property of THAI. It is prohibited that the interested Bidder or any receiver of such further forward or make a copy of THAI proprietary information, data or documents to any third party for any other purpose without a prior written consent by THAI. Failing to comply of which may consider disqualification of the Bid and may be subject to legal proceedings in accordance with applicable law.
6.2 Non-Disclosure Agreement (NDA) : The Bidder shall execute a NDA as described in Exhibit 3 to the Invitation Letter and send the signed Agreement to THAI at the time of submission of the Proposal.
6.3 Notification of National Anti-Corruption Commission: If the awarded Bidder is a Thai national person or has the agent situated in Thailand, the awarded Bidder is required to follow to the Notification of National Anti-Corruption Commission as appeared in Exhibit 4 to the Invitation Letter.
6.4 Execution of Agreement: Within 7 (seven) business days after being awarded, the awarded Bidder is required for signing an Sale Agreement (Agreement) on the terms and conditions described in Exhibit 5 attached to the Invitation Letter. Also, the terms and conditions as described in this Bid will be considered binding and form a part of the Sale Agreement.
The awarded Bidder shall have no objection to a cancellation of the Bid by THAI in case the awarded Bidder fails to sign the Agreement within 7 (seven) business days after being awarded
Any terms or conditions stated in Exhibit 1 and Exhibit 5 that are not agreed by the Bidder must be raised to THAI at the time of submitting a Proposal. Failing of which, it is considered that all the terms and conditions are accepted by the awarded Bidder and be agreed to incorporate for signing as shown in Exhibit 5. Any rejections or modifications addressed after announcement of the award will lead to cancellation of the award without any liability of THAI.
6.5 Acceptance of Aircraft Part : Unless otherwise mutually agreed in writing, the awarded Bidder shall accept and pick up the purchased Aircraft Part from THAI’s facility within 15 (fifteen) business days after receiving a notification from THAI on readiness for release.
In no event the Aircraft Part be delivered to the awarded Bidder prior to the full settlement by the awarded Bidder of all payments due to THAI according to the terms and conditions in the Sale Agreement.
6.6 Title and Risk of Loss: Title of sold Aircraft Part as well as risk of loss will be transferred to the awarded Bidder once all due payments are settled in full by the awarded Bidder.
6.7 Costs and Expenses: Any costs, expenses, fees including storage charges incurred after the transfer of title of the Aircraft Part to the awarded Bidder will be at the sole responsibility of the awarded Bidder.
6.8 Payment: Within five (5) business days after execution of the Sale Agreement, the awarded Bidder shall pay to THAI an amount equal to 50% (fifty percent) of the total purchase price. Failing of which will cause THAI an absolute right to cancel the sale without any liability.
The remaining balance of 50% (fifty percent) of the total purchase price will be paid to THAI in full at the time of receiving a confirmation from THAI of readiness for delivery provided that the payment will not be later than 3 (three) days after the notification is made by THAI. Failing of which will cause THAI an absolute right to cancel the sale with no liability and the awarded Bidder further agrees that the paid amount of 50% (fifty percent) will be forfeited by THAI without any objection or any claim by the awarded Bidder.
All Payments will be made in U.S. Dollars, if not otherwise agreed in writing.
6.9 Incurring Costs Related: THAI will sell the Aircraft Part at the fixed price as awarded. Any taxes, duties, fees, charges or extra costs due to or subject to this transaction of purchase and sale under the Bid including but not be limited to customs formalities or applicable taxed imposed under Thai laws or any laws will be on the sole account of the buyer (Bidder). It is to hereby notify that all the sold parts are to export from Thailand. Any domestic use, further transaction or any remains in Thailand are subject to taxes under Thai laws.