Terms & Conditions

1. Quality Warranty

RichTech (hereinafter "the Company") warrants that the goods sold hereunder shall be free from defects in workmanship or material and shall conform in all material respects to the specifications set forth in the Buyer's purchase order as accepted by the Company. Buyer's sole and exclusive remedy for the Company's breach of warranty shall be limited to, at the Company's option, repairing or replacing goods that are proven defective or non-conforming.

Where goods are replaced by the Company, Buyer shall return the defective or non-conforming goods to the Company. The Company shall not be responsible for any other damage or loss sustained by Buyer or any third party.

The warranties set forth in this section constitute the only warranties given by the Company and are in lieu of any and all other warranties, express or implied, including but not limited to the implied WARRANTY OF MERCHANTABILITY and the implied WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE.

2. Price & Taxes

The Company's prices do not include VAT, customs duties or other similar taxes. In addition to the price specified herein, the amount of any VAT, customs duties or other similar taxes applicable to the sale of goods shall be paid by Buyer, or, in lieu thereof, Buyer shall provide the Company with a tax exemption certificate issued by the appropriate taxing authority.

All prices are quoted in RMB (CNY). Prices for overseas orders may be adjusted based on exchange rate fluctuations, as specified in the quotation.

3. Payment Policy

The Company applies the following payment policies based on customer type and order nature:

3.1 Domestic Customers (China)

• Standard Orders: Full payment required before production/shipping.
• Small Custom Orders: Full payment required before production.
• Large Custom Orders: Minimum 95% prepayment required, balance due before shipment.

3.2 Overseas Customers

• Prepayment: not less than 95% of the order value (balance due before the goods depart).
• Final Payment: Must be fully paid before the goods depart from the port of loading.
• Overseas payments accepted via T/T, L/C, or as agreed by both parties.

3.3 Payment Methods

• Domestic: Bank transfer, corporate account remittance.
• Overseas: T/T, L/C.

3.4 Late Payment

• If Buyer fails to pay when due, the Company reserves the right to charge interest at a rate of 1.5 times the Loan Prime Rate (LPR) published by the National Interbank Funding Center.
• The Company reserves the right to delay shipment or cancel orders due to Buyer's late payment.
• All costs of collection (including but not limited to court costs and reasonable attorneys' fees) shall be borne by Buyer.

4. Shipments

Shipment and delivery dates are based upon the Company's best judgment, are subject to factory schedules and production limitations, and hence are not guaranteed.

• Shipping Terms: Unless otherwise agreed, all goods will be shipped EXW or as otherwise specified.
• Risk of Loss: Risk of loss or damage passes to Buyer upon delivery to the carrier. Buyer shall inspect goods upon receipt and file claims directly with the carrier for any damage or loss in transit.
• Partial Shipments: The Company reserves the right to make partial shipments and to invoice for partial deliveries.
• Deferred Delivery: If Buyer requests deferred delivery, Buyer shall bear all additional expenses incurred, including but not limited to storage, handling, and insurance charges.

5. Inspection & Claims

Buyer shall inspect and test the goods within 7 business days of delivery. Any defects or non-conformities discoverable upon inspection must be reported to the Company in writing within 7 business days, quoting the invoice number.

• Failure to provide written notice within the specified period shall constitute acceptance of the goods and waiver of all claims.
• Claims for shortages must be made in writing within 48 hours of delivery, quoting the invoice number.
• No action arising out of or in connection with the sale of goods (other than action by the Company for amounts due) may be brought more than 6 months after the cause of action has arisen.

6. Returns

For returns or exchanges, please contact our customer service department with the following information:

• Your customer number
• Invoice number
• Product part number(s) and quantity
• Reason for return/exchange (as detailed as possible)
• Preferred resolution (credit or replacement)

After review, a customer service representative will contact you with further instructions.

7. Force Majeure

The Company shall not be liable for any delay or failure in performance caused by circumstances beyond its reasonable control, including but not limited to:

• Fire, flood, earthquake, typhoon and other natural disasters;
• War (whether declared or undeclared), rebellion, insurrection, civil disorder;
• Government actions, changes in laws and regulations, import/export controls;
• Strikes, lockouts, labor disputes;
• Transportation interruptions or traffic controls;
• Supplier failures or material shortages;
• Any other causes beyond the reasonable control of the Company.

Upon occurrence of a force majeure event, the Company will notify Buyer as soon as reasonably possible and take reasonable measures to mitigate the impact.

8. Limitation of Liability

In no event shall the Company's liability to Buyer exceed the purchase price of the goods giving rise to the claim. The Company shall not be liable for any indirect, special, incidental, or consequential damages, including but not limited to loss of profits, business interruption, or loss of goodwill.

This limitation of liability applies to all claims under any legal theory, including contract, tort (including negligence), and otherwise.

9. Intellectual Property

The Company warrants that the goods sold do not infringe any intellectual property rights in China and other jurisdictions. The Company shall indemnify Buyer against liability for any such infringement, except where goods are manufactured in accordance with Buyer's drawings or specifications.

Buyer shall protect, defend, and hold the Company harmless from any intellectual property claims arising from Buyer's use of the goods, including use in combination with other materials or in the operation of any process.

10. Samples, Minimum Order Quantity & Lead Time

10.1 Samples

Samples are available on request. Whether a sample is charged depends on the product type and its cost, so that any charge is fair; sample freight is borne by the customer.

10.2 Minimum Order Quantity

There is no single figure. The minimum quantity depends on the product type, the production difficulty and the process required, and is confirmed with your enquiry.

10.3 Lead Time

For custom orders of regular products, production is normally completed in about two weeks; overseas orders generally take about one month. The confirmed schedule is agreed with the order.

11. Entire Agreement & Amendments

These Terms & Conditions constitute the entire agreement between the parties with respect to the subject matter hereof, superseding all prior discussions and agreements.

• These Terms may not be modified or amended except by an instrument in writing signed by a duly authorized officer of the Company.
• If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
• These Terms shall be governed by and construed in accordance with the laws of the People's Republic of China.
• Any dispute arising out of or in connection with these Terms shall be submitted to the Yancheng Arbitration Commission for arbitration in accordance with its rules, or to the Yancheng People's Court, with arbitration being the preferred method.