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Agreement

 

Buyer details
Company name:
Company No:
VAT No:
Company address:
Contact person:
Phone No:
Fax No:

Transportation Base details
Transportation Base provided :
Part No:
Serial No:
Description:
Condition:
Outright value:

Engine Cradle details
Engine Cradle provided :
Part No:
Serial No:
Description:
Condition:
Outright value:

Transaction details
PO No:
Price:
Payment terms (NET D):

Delivery details
Delivery Incoterms:
Delivery time:
Engine Stand records at delivery:
  1. This Agreement specifies terms and conditions of Engine Transportation Base and / or Engine Cradle (hereinafter – the “Engine Stand”) sale and purchase, whereby Magnetic MRO sells to the Buyer an Engine Stand defined herein.
  2. Magnetic MRO shall sell and the Buyer shall purchase the Engine Stand specified in Purchase Order.
  3. Magnetic MRO shall deliver the Engine Stand, which is free from any right or claim of a third party, including the right or claim based on industrial or other intellectual property.
  4. Magnetic MRO shall transfer title to the Engine Stand to Buyer on the day when the price for the Engine Stand is received by Magnetic MRO in full.
  5. Risk of loss, damage or destruction of the Engine Stand shall be passed to the Buyer after delivery of the Engine Stand to the Buyer or Buyers appointed carrier.
  6. Buyer shall pay Price of Engine Stand in accordance with Payment terms specified herein. The Price of the Engine Stand indicated in this Agreement does not include VAT (if such applies) or any other taxes. In addition to the price for the Engine Stand, the Buyer shall pay any taxes (including value added taxes, excise, import and export duties and etc.), any levies and any other fees related to the Agreement.
  7. Should any delay of the payments occur beyond the dates specified in the present Agreement, the Buyer shall pay to Magnetic MRO a penalty at the rate of 0.1% of the value of the late-payment for each day of delay.
  8. All payments shall be effected at Buyer’s costs in a contractual currency by bank transfer to Magnetic MRO account indicated in the invoice.
  9. The Engine Stand transportation expenses shall be borne by Buyer.
  10. Quality of Engine Stand shall be in full conformity with the technical conditions and regulations that are set forth in original manufacturer regulations. For all Engine Stands any assignable rights to warranty granted to Magnetic MRO by its suppliers will be assigned to Buyer. Magnetic MRO will support Buyer in pursuing such warranty claim.
  11. At delivery Buyer shall sign and present to Magnetic MRO a Delivery Receipt in the form of Exhibit A. By signing a Delivery Receipt Buyer confirms that quality of the Engine Stand is sufficient and in full conformity with the technical conditions and regulations.
  12. Magnetic MRO shall not be liable for any damage to, or loss of, property including the aircraft and engines, or injury or death or any other damage directly or indirectly caused to the Buyer or third parties during or after, due to, or in connection with, or in consequence of the performance or non–performance of this Agreement between Magnetic MRO and the Buyer, unless caused by wilful misconduct or gross negligence of Magnetic MRO, and the Buyer shall indemnify and hold harmless Magnetic MRO and its subcontractors against any and all such claims including costs and expenses. Magnetic MRO’s total liability for any and all demands, pretensions or claims, whether in contract between Magnetic MRO and the Buyer, warranty, tort, product liability, patent infringement or otherwise, for any damages arising out or connected with, or resulting from the performance, or non–performance of any service will not exceed the price allocable to the services / supply which give rise to the demand, pretension or claim. In no event, whether as a result of breach of Agreement, warranty, tort, product liability, patent infringement, or otherwise, Magnetic MRO will be liable for any special, consequential, incidental, resultant or indirect damage (including, without limitation, loss of use, revenue, good will) or punitive or exemplary damages.
  13. Buyer shall be fully liable for implementation of its contractual obligations under this Agreement.
  14. In case of breach of this Agreement, the aggrieved Party shall be entitled to terminate it by delivering 10 days prior written notice, in case such breach is not remedied within notification period.
  15. It is further agreed that legal action required regarding this transaction will be subject to the laws of the Republic of Estonia and the disputes shall be settled by competent courts of the Republic of Estonia.
  16. This Agreement comes into force on the date of signing this Agreement by both Parties and will remain in force until full performance of obligations by the Parties under this Agreement. It is likewise agreed that a fax / scanned signature is acceptable and binding. However non return of a signed Agreement but acting in accordance with this Agreement will be taken as full acceptance of conditions above.
For and on behalf of the Magnetic MRO: For and on behalf of the Buyer:
Signed:   Signed:  
Name:   Name:  
Title:   Title:  
Signed:   Signed:  



EXHIBIT A

Form of Delivery Receipt

DELIVERY RECEIPT

From (Buyer):
To (Seller): Magnetic MRO AS
Date:

The undersigned hereby acknowledges that on this __ day of ___________ ____ Magnetic MRO AS did deliver to [company name] the Engine Stand defined below:

Transportation Base details Engine Cradle details
Part No:   Part No:  
Serial No:   Serial No:  
Description:   Description:  
Condition:   Condition:  
Outright value:   Outright value:  

The undersigned further acknowledges receipt and acceptance of the Engine Stand in compliance with all of the terms and conditions of that certain Engine Stand Sale and Purchase Agreement dated as of __ day of ___________ ____ between Buyer and Magnetic MRO.


Buyer: ____________________________
By: _______________________________
Name: ___________________________
Title: _____________________________



/ to be printed on Lessee’s letterhead /

END USE / END USER STATEMENT

The Undersigned understands that the products it acquires from Magnetic MRO may be subject to export, re-export, or other restrictions under the laws of the country of manufacture, the country of the supplier, and the country in which the Undersigned resides. Therefore, the Undersigned, on behalf of itself, its subsidiaries and affiliates, warrants and agrees to abide by all applicable laws and regulations relating to the export and re-export of such products and the direct products thereof.

Therefore, with this Statement the Undersigned represented by its authorized official certifies the following:

- The products acquired from Magnetic MRO will not be used directly or indirectly, sold, re-exported or incorporated into products used directly or indirectly, in the design, development, production, stockpiling, or use of chemical or biological weapons, nuclear programs (including activities related to nuclear explosive devices, nuclear reactors, and nuclear fuel-cycle activities), missile (including cruise and ballistic missile systems, space launch vehicles, sounding rockets, target drones, remotely piloted vehicles, and reconnaissance drones), and maritime nuclear propulsion projects except as authorized under applicable laws and regulations relating to the export and / or re-export of these items.

- The products acquired from Magnetic MRO will not be used directly or indirectly, sold, re-exported or incorporated into products for the use in countries (including, but not limited to North Korea, Sudan, Syria Iran or Cuba) or of persons and / or organisations (including, but not limited to persons or organizations designated as terrorists, drug traffickers or weapons proliferators) subject to international sanctions or embargoes imposed by, inter alia, the United Nations, the European Union or the United States of America, or to support regional instability and terrorism activities.

- The products acquired from Magnetic MRO will be used directly or indirectly, sold, re-exported or incorporated into products solely for civil / commercial end use and only by end user indicated below, unless agreed by Magnetic MRO in writing otherwise:

End User: ___________________________ End Use: ___________________________
Location of End User: __________________ Country of End Use: __________________
Part Number: ________________________ Purchase Order No:___________________

- The Undersigned, on behalf of itself, its subsidiaries and affiliates, confirms its knowledge and understanding of all applicable export regulations, assumes all responsibilities for export compliance and warrants and agrees to indemnify and hold Magnetic MRO harmless against any losses, damages, fees, monetary sanctions or criminal punishment imposed as a result of failure to comply with any applicable export control laws or regulations.

By executing this Statement the Undersigned attests to the veracity of the information provided.
Date ________________________
Name of the Legal Entity _______________________
_ Name of the representative ________________________
Title of the representative ________________________
Signature, seal ________________________
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