Article 8 - Price, Payment Term and Delivery Term
1) Purchase Price
a) The purchase price covers all obligations of the Supplier as agreed under Appendix I. Quotation No.KF6-Quo-Covidien-NP-1502001(02), Date, 1-April-2015 and unless otherwise provided in the Purchase Order, is deemed to include all costs of labour, materials, packaging, and transportation.
b) The purchase price is fixed and shall not be subject to adjustment for inflation, currency exchange fluctuation or any other adjustment whatsoever, unless otherwise specifically provided in the Purchase Order and quotation.
c) Payment of the purchase price shall be made 30 days from the date of receipt of the Supplier’s invoice.
d) The Purchaser shall have the right to offset from any payment payable to the Supplier any monies due from the Supplier to the Purchaser, regardless of whether such monies are due under a Contract or not.
e) Notwithstanding anything contained herein to the contrary, the Supplier hereby represents and warrants to the Purchaser that the purchase price for the Products shall not exceed the lowest purchase price for such Products offered by the Supplier to any of its other customers.
f) If the Supplier extends a lower price for any Products to any other customer, the Supplier will notify the Purchaser within 5 days of such offer and shall reduce the purchase price to such price effective as of the date of such sale.
g) The Supplier will provide the Purchaser with volume discounts or any other preferential pricing in the event that the Purchaser grants to the Supplier the status of “preferred supplier” in respect of any similar Products.
h) The price as agreed in Appendix. I (Quotation) includes injection molds amortization by including the unit price which has a confirmed order of 600,000 pieces per mold, where the ownership title will be transferred to the Purchaser upon full payment of on 600,000 pieces within 2(Two) year.
i) If the order does not cover 600,000 pieces within 2(Two) year, the Purchaser should pay the balance of the mold cost.