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Terms of Sale

Fagkaup ehf. Terms of Sale

Last updated: 01.01.2021

I. Pledge of sale:

The seller maintains a sales mortgage, according to act no. 75/1997, chapter III., subsection G, on the contractual mortgage, on the sold product as defined in the invoice until the buyer has fully paid the product's purchase price according to the sales invoice. If the buyer pays with promissory notes, bonds or cheques, the sales pledge remains until the debt, according to such document, is settled.

II. Payment terms:

The invoice due date is the issue date. Customers are requested to pay invoices per the terms specified on them. If invoices are not paid on the final due date, the highest legal late payment interest is calculated from the due date. Fagkaup reserves the right to cancel the invoice discount if payment is delayed beyond the required deadline.

If a product is delivered in stages and payment has yet to be received for previous deliveries, further deliveries will stop until an installment is guaranteed. The same applies if deposits have been agreed upon for the purchase of goods and the buyer does not comply with the agreement. The seller does not accept responsibility for direct or indirect damage that the buyer may suffer due to delays in delivery cf. above.

III. Shipments:

The seller sends the product at the buyer's responsibility and expense. If the buyer does not pick up the ordered product, the seller reserves the right to send the product at the buyer's cost. Or store the product at the buyer's expense and responsibility, with the seller reserving the right to demand a storage and administration fee.

IV. Delivery delays:

The seller is not responsible for direct or indirect damage that may occur due to a delay in delivery or wrong delivery or if a product arrives defective from a foreign supplier. Furthermore, the seller is not responsible for direct or indirect damage attributed to circumstances (force majeure) that the seller cannot control, including strikes, lockouts, fires, war, ship damage or other similar situations.

V. Return of product(s):

The seller will only accept a product the buyer wants to return if it is a stock product and returned within 15 days of delivery. There is no refund in such cases, but the buyer receives a credit note for the product's value. The condition for the seller to accept the product is that it is in the same condition as when it was delivered. The seller must receive complaints about product defects as soon as possible, preferably in writing and within eight days of delivery. When the reasons for the product being returned cannot be attributed to the seller or a defect in the product, the company reserves the right to deduct all resulting costs from the buyer's credit.

VI. Warranty:

The warranty period under this invoice is one year from its date. An exception to this is that on products from Black & Decker, the warranty is valid for two years and on products from Lincoln for three years from the date of invoice. If the buyer discovers a manufacturing or material defect during the warranty period, the seller's liability is limited to the cost of spare parts and repair of the defective product. The buyer must pay for and bring the product to the seller's workshop for repair. The seller is never responsible for consequential damages due to the product's defect or failure. The amount of compensation is always limited to the selling price of the relevant product without VAT. No warranty is attached unless expressly agreed to in writing when selling used products. The seller otherwise disclaims responsibility for sold products to the extent permitted by law.

VII. Exclusion of liability:

The seller is not responsible for indirect damage that may result from the use of the product. The buyer is responsible for repair costs if incorrect or harmful treatment by the buyer (or a person for whom he is responsible) results in failure, damage or destruction of the product. If a buyer removes the product's factory or serial numbers or does not follow the manufacturer's instructions regarding safety, installation and controlled maintenance compared to the instructions in the manual, the warranty is void. Warranty does not apply due to corrosion of equipment, normal wear and tear or damage caused by weather.

VIII. Liability for damages:

If there is a dispute as to whether the product has caused damage, the seller's responsibility is governed by act no. 25/1991 on liability for damages. The seller disclaims responsibility for such damage to the extent permitted by law.

IX. Warranty Certificate:

The invoice is valid as a warranty certificate as it states the serial number of the equipment.

X. Consumer purchases:

If it is a consumer purchase within the meaning of act no. 48/2003, the provisions of that law prevail over these terms and conditions if they conflict.

All prices and information on the website are published subject to misprints, and Fagkaup reserves the right to change prices without notice.