WARRANTY TERMS AND CONDITIONS FOR FINPOWER PRODUCT

This Limited Warranty applies to the damage of any FINPOWER product or its malfunction during the standard warranty period hereunder provided under normal conditions in which FINPOWER unit(s) has been transported, stored, installed, and/or operated.

If Warranty is deemed null and void, project name, details, and declaration shared initially with PO are changed or altered during Warranty Claims.

1. LIMITED WARRANTY:

Subject to the limitations, the Goods purchased hereunder will be free from defects in material and workmanship under normal use and regular service and maintenance for a period of 12 months from the date of installation and no more than 18 months from the date of manufacture or as agreed. This warranty shall not apply to any Goods which:

• Have been repaired or altered outside Seller’s factory by other than Seller in any manner so as, in Seller’s judgment, to affect its serviceability or proper operation.
• Have been subjected by persons other than Seller to improper handling, operation, maintenance, repair, or alteration.
• Have been subjected to misuse, negligence, improper installation, or accident. Seller’s obligation under this warranty, and the Buyer’s exclusive remedy for the breach thereof, shall be limited to, at Seller’s option, replacement of any allegedly defective Goods or issues or credit, excluding the cost of labor and any other expenses incurred in servicing the unit on which the Goods are installed. Seller requires the return of any allegedly defective Goods, transportation prepaid, before honoring any claim. All returned Goods are subject to inspection, and if examination does not disclose any defect covered by this warranty, replacement of such Goods or issuance of credit for same will not be approved. THE FOREGOING CONSTITUTES THE SELLER’S SOLE WARRANTY RESPONSIBILITY AND THE BUYER’S EXCLUSIVE REMEDY WHETHER SOUNDING IN TORT, CONTRACT, STRICT LIABILITY, OR OTHERWISE, EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT. THERE ARE NO OTHER WARRANTIES, EXPRESS OR IMPLIED, WHETHER OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE. SELLER SHALL NOT BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY CHARACTER IN CONNECTION WITH THE SALE, RESALE, OR USE OF THE GOODS.

2. LIMITATION OF REMEDY AND LIABILITY:

THE SOLE AND EXCLUSIVE REMEDY FOR BREACH OF ANY WARRANTY HEREUNDER SHALL BE LIMITED TO REPAIR, CORRECTION, AND REPLACEMENT. SELLER SHALL NOT BE LIABLE FOR DAMAGES CAUSED BY DELAY IN PERFORMANCE, REGARDLESS OF THE FORM OF THE CLAIM OR CAUSE OF ACTION (WHETHER BASED ON INFRINGEMENT, NEGLIGENCE, STRICT LIABILITY, OTHER TORT, OR OTHERWISE), AND IN NO EVENT SHALL SELLER’S LIABILITY TO BUYER AND/OR ITS CUSTOMERS EXCEED THE PRICE PAID BY BUYER FOR THE SPECIFIC GOODS PROVIDED BY SELLER GIVING RISE TO THE CLAIM OR CAUSE OF ACTION, AND BUYER SHALL INDEMNIFY SELLER FOR ANY DAMAGES IN EXCESS THEREOF. BUYER AGREES THAT IN NO EVENT SHALL SELLER’S LIABILITY TO BUYER AND/OR ITS CUSTOMERS EXTEND TO INCLUDE INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, WHICH ARE WAIVED BY BUYER AND AS TO WHICH BUYER SHALL INDEMNIFY SELLER. The term “consequential damages” shall include, but not be limited to, Loss of anticipated profits, business interruption, loss of use of revenue, cost of capital or loss or damage to property or equipment, or loss of reputation. Further, Buyer shall indemnify and hold Seller harmless from any liability to Buyer, Buyer’s employees, workers, contractors, or any other persons arising out of Buyer’s, or any other person’s use of the Goods. It is further expected that all instructions and warnings supplied by Seller will be passed on to those persons who use the Goods. Seller’s Goods are to be used in their recommended applications and all warning labels adhered to the Goods by Seller are to be left intact. It is expressly understood that any technical advice furnished by Seller with respect to the use of the Goods is given without charge, and Seller assumes no obligation or liability for the advice given, or results obtained, all such advice being given and accepted at Buyer’s risk.

2. a CONDITION OF LIMITED WARRANTY

Our liability in respect of any defect claim, or operational failure of equipment or components supplied by us shall be strictly limited to making good, by repair, or replacement, at our discretion, and at our works, any such defect as may prove to our satisfaction to have resulted from faulty manufacture, materials or workmanship, but does not include freight charges, labor costs and travel expenses incurred by the Company on warranty work or any other work related to the failure of the machine.

All parts claimed to be defective are to be returned at the buyer’s risk and freight paid to the Company.

This warranty does not extend to any losses or damages due to misuse, accident, neglect, normal wear and tear, negligence (other than Seller’s), unauthorized modification or alteration, use beyond rated capacity, unsuitable power sources or environmental conditions, improper installation, repair, handling, maintenance or application or any other cause not the fault of the seller. To the extent, that buyer has supplied specifications, information, representation of operating conditions, or other data to the seller in the selection or design of the Goods and the preparation of the seller’s quotation, and in the event that actual operating conditions or other conditions differ from those represented by the buyer, any warranties or other provisions contained herein which are affected by such conditions shall be null and void.

The Company’s warranty does not cover consequential damages resulting from the failure of parts or equipment or subsequent expenses or losses. Warranty work does not assure the uninterrupted operation of equipment.

This warranty is extended by the Company only to the original/first buyer of Finpower equipment from the Company and may not be transferred to any other person/organization.

The conditions of this warranty further exclude us from direct liability for components or parts manufactured by others that are warranted only to the extent of the original manufacturer’s warranty to the Company.

All materials returned on warranty claim must be suitably labeled and identified with the actual date of installation indicated, and freight paid by the customer.

Repeat Warranty Component/Equipment Failures: All repeat product failures must be returned to the company by the buyer. Requests for inspection approval must be made prior to warranty submission and is the responsibility of the returning buyer to make every reasonable effort in identifying such claims. If upon inspection no manufacturing defect is found, the warranty claim will be denied and an “Inspection” charge will be applied.

The installation has to be certified by Finpower at the time of startup in order to claim the components/compressor during the warranty period.

Do not return units. Only defective compressors and components should be returned. Condensing units are warranted for a period of 12 months from the date of installation or 18 months from the date of delivery for replacement of parts and 60 months for compressor from the date of delivery.

The company will not be liable for any repairs, replacements or adjustments, or any costs of labor performed by the buyer or any third party without the Company’s prior written approval.

One (1) time replacement of the compressor under the warranty period if the compressor is found faulty due to poor workmanship or materials for manufacturing the same.

Compressor-free replacement will be issued only once the compressor manufacturer confirms the failure of the compressor due to manufacturing defects.

3. FORCE MAJEURE:

Seller shall not be liable for delays in performance or non-performance due to acts of God; acts of Buyer; war; fire, flood; weather; sabotage; strikes, labor disputes, civil disturbances or riots; governmental requests, restrictions, allocations, laws, regulations, orders or actions; unavailability of or delays in transportation; default of suppliers; or unforeseen circumstances or events beyond Seller’s reasonable control. Deliveries or other performance may be suspended for an appropriate period of time or canceled by Seller upon notice to Buyer in the event of any of the foregoing, but the balance of the agreement shall otherwise remain unaffected. If Seller determines that his ability to supply the total demand for the Goods or to obtain material used directly or indirectly in the manufacture of the Goods, is hindered, limited, or made impracticable due to causes set forth herein, Seller may allocate its available supply of the Goods or such material (without obligation to acquire other supplies of any such Goods or materials) among itself and its purchasers on such basis as Seller determines to be equitable without liability for any failure of performance which may result therefrom.

4. INSTALLATION:

The buyer shall be responsible for receiving, inspecting, testing, storing, installing, starting up, and maintaining all Goods.

The installation has to be certified by Finpower at the time of startup in order to claim the components/compressor during the warranty period.

5. EXEMPTIONS:

Notwithstanding the above, in the event the malfunction or damage has been caused by any one of the following reasons, the free warranty shall NOT be applicable, even though the problem has been incurred within the said 18-month warranty period. FINPOWER is permitted to charge for reasonable costs and charges rendered to the rectification work/services for which FINPOWER is not liable under warranty.

1. When the unit has been operated incorrectly or placed in improper storage condition before or during the installation period.
2. When the unit has been converted using any local parts, components, or materials not in use in the original unit even though they were individually accepted by FINPOWER.
3. When the unit is damaged either during transportation to a designated warehouse/site or additional transport after FINPOWER’s first delivery, or during storage or installation period.
4. When the unit is dispatched in Knockdown /Semi-knockdown condition and not assembled by the Finpower team
5. When the unit has been exposed to undue hot or high humid conditions before the operation, or fire accident, earthquake, flooding, or unusual conditions beyond FINPOWER’s control.
6. The effects of corrosion, erosion, deterioration occasioned by chemical and abrasive action, or excessive heat are excluded from the warranty.
7. When the unit has been operated at an unusually high voltage surge.
8. The equipment is not operated/Installed as per the Company’s operating instructions
9. The above-said warranty does not cover the following:

• • Consumables such as V belts, air filters, Handles, Hinges, Viewports, etc
  • Deterioration or failure of equipment due to corrosive atmosphere.

6. INSPECTION/TESTING:

Buyer, at its expense, agrees that it will promptly inspect the Goods upon receipt thereof, and in no event later than thirty (30) days from the date of receipt of the Goods. Buyer shall deliver to Seller within fifteen (15) days of inspection, but in no event later than forty-five (45) days from the date of receipt of the Goods, written notice of any and all deficiencies, defects, variations from specifications, or complaints of any kind with respect to the quantity, quality, condition, shipment, performance, price or appearance of the Goods so received by Buyer. In the event no such written notice is received by Seller, Buyer shall be deemed conclusively to have inspected and accepted all such Goods unconditionally and to have waived any and all rights and

Claims, including without limitation any right to reject the Goods or to claim damages in respect thereof. Buyer may not return Goods without first advising Seller of the reasons therefore, obtaining from Seller a material authorization number and observing such instructions as Seller may give in authorizing a such return. Buyer, at its option, may inspect and monitor the testing by Seller of the Goods for compliance with Seller’s standard test procedures prior to shipment, which inspection and testing shall be conducted at Seller’s plant at a such reasonable time as is specified by Seller. Any alleged rejection of the Goods at Seller’s plant must be made promptly by Buyer before shipment. Tests shall be deemed to be satisfactorily completed and the test fully met when the Goods meet Seller’s criteria for such procedures.

7. SERVICES:

 If this agreement requires Seller to perform or provide any service hereunder, Seller (including without limitation its successors, assigns, agents, or any person or entity acting at Seller’s direction) shall not be responsible for any damages, claims, liabilities, or expenses of any nature arising out of such services.