Terms of Sale Policy

1. General & Binding Effect

These Terms of Sale (“Agreement”) govern all sales of industrial bearings and related components (“Products”) by Universal Enterprise (“Seller”) to its B2B customers (“Buyer”) through its e-commerce webstore or quotation. By placing an order, Buyer unconditionally accepts these terms. Any conflicting terms proposed by Buyer in purchase orders or other documents are expressly rejected.

2. Order Acceptance & Pricing

All orders placed on the webstore or through a quotation are subject to acceptance by Seller. Prices displayed on the webstore or quotation are in Indian Rupees (INR) or specified foreign currencies, exclusive of Goods and Services Tax (GST), customs duties, shipping costs, and insurance, all of which shall be borne by Buyer. Seller reserves the right to correct typographical pricing errors before shipment.

3. Payment Terms (100% Advance)

All transactions are strictly on a one hundred percent (100%) advance payment basis. Universal Enterprise will not process, pack, or schedule any order for shipment until full payment has been successfully cleared and credited to Seller’s bank account or designated payment gateway. Net credit terms (e.g., Net 30) are not available.

4. Shipping, Delivery, and Risk of Loss (EXW)

Unless otherwise agreed in writing, all shipments are sold Ex Works (EXW) from Seller’s warehouse or fulfillment facility (Incoterms 2020). Risk of loss, damage, or destruction passes entirely to Buyer the moment the Products are handed over to the carrier or shipping provider. Buyer is solely responsible for arranging freight, customs clearance, and transit insurance.

5. Inspection & Shortage Claims

Buyer must inspect all Products immediately upon delivery. Any claims for shortages, visible defects, or shipping errors must be submitted to Seller in writing within seven (7) days of delivery. Failure to notify Seller within this 7-day window constitutes absolute waiver of all claims by Buyer, and the shipment will be deemed accepted without reservation.

6. Return Policy & Restocking Fees

Standard catalog Products may be returned only with prior written authorization (Return Merchandise Authorization or RMA) from Seller within 14 days of delivery. Returned items must be unused, unaltered, and in their original, undamaged packaging. Authorized returns are subject to a twenty percent (20%) restocking fee. Custom-manufactured, altered, or non-standard special-order bearings are strictly non-refundable and non-returnable.

7. Limited Warranty & Exclusions

Seller warrants that Products will conform to the manufacturer’s nominal specifications at the time of delivery. THIS WARRANTY IS EXCLUSIVE AND IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED. Universal Enterprise explicitly disclaims any warranty against failure or premature wear resulting from:

• Improper lubrication or contaminated lubricants
• Incorrect alignment, installation, or housing tolerances
• Operational overloading, electrical erosion, or exposure to harsh environmental conditions
• Lack of routine maintenance or unauthorized modifications

8. Limitation of Liability & Critical Applications

In no event shall Universal Enterprise be liable for any indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, loss of profits, production downtime, or machinery failure). Seller’s total liability for any claim shall not exceed the purchase price of the specific Product giving rise to the claim.

Furthermore, Products are strictly prohibited from use in critical or high-risk applications (e.g., aerospace, nuclear, medical life-support systems, or hazardous military hardware) without prior, explicit written authorization from Seller. Buyer assumes all liability for unauthorized deployment in such environments.

9. Governing Law and Jurisdiction

This Agreement shall be governed by, interpreted, and construed in accordance with the laws of the State of Karnataka, India, without regard to principles of conflicts of law. The parties agree that any legal actions, disputes, or proceedings arising under this Agreement shall be subject to the exclusive jurisdiction of the competent courts located in Bengaluru, Karnataka, India.