Terms of Sale

For customers with established credit, terms for products sold by Lifetime Industries are net 30 days from date of shipment. No cash discounts will be allowed on any order of products. Invoices carry a date corresponding to the date of shipment. Lifetime Industries will extend open credit to buyers who qualify. Orders from buyers without previously arranged credit will be shipped on a C.O.D. or payment in advance basis until credit is established. Payment history of all accounts will be periodically reviewed and credit lines will be adjusted accordingly.

Pricing

Prices are subject to change without prior notice. Except for products ordered through eReplace, orders received with deferred shipping dates will be billed at the prices in effect on the specified shipping dates. Products ordered through eReplace will be billed at the prices in effect on the date Lifetime Industries sends written, facsimile or electronic confirmation to the buyer that the next shipment of products will be delivered. No rebates or refunds will be given to customers because of price declines to cover their stock on hand. No products will be shipped on consignment to any customer.

Cancellation Charge

Any customer who cancels any order, in whole or in part, after production has begun will be charged for the cancellation at the following rate:

• Standard stock on UPS or LTL sized shipments - no charge.
• Standard stock on trailer load shipments - charge to be negotiated between Lifetime Industries and the customer.
• Special sizes - 100% of order item value if production has begun.

Freight Policy

All products will be shipped F.O.B. the Lifetime Industries warehouse in Memphis, Tennessee, regardless of freight payment terms. As a result, Lifetime Industries’s responsibility for the products ceases when a bill of lading for the products is signed by the carrier. See “Freight Claims” below.

Orders specifying No Freight Allowed or orders not qualifying for freight allowance will be shipped freight collect.

Freight Claims

Lifetime Industries assumes no liability for damage or loss of shipments of its products. Products shipped are carefully packed or pre-packaged in compliance with carrier requirements. All shipments should be unpacked and closely inspected upon receipt by the buyer for damage and/or loss. For its protection, the buyer must note any damage, suspected damage or loss on the freight bill at the time of delivery. Any subsequent freight claims must then be made directly by the buyer against the delivering carrier, including any claims for concealed damage and/or loss. Lifetime Industries will render all possible assistance with such claims.

Returned Goods

To be eligible for credit for returned goods, customers must comply with each of the following requirements:

• Written authorization to return any products must be obtained from the Lifetime Industries Customer Service Department before the products are returned. Lifetime Industries will issue a Return Goods Authorization Number (RGA#), which must be clearly marked on the shipping label and/or bill of lading with the returned goods. Lifetime Industries Will Not Accept Any Unauthorized Returns.
• Standard size products listed in current Lifetime Industries price lists are eligible for return, subject to the time limitations set forth below. No special size or custom-made products are eligible for return unless they were sent to the customer in error by Lifetime Industries. Lifetime Industries reserves the right to define “standard” or “special” at its discretion. Obsolete or discontinued products may not be returned.
• No product may be returned after 60 days from its original invoice date.
• Returned goods must be shipped prepaid and/or in accordance with specific instructions issued by Lifetime Industries at the time of the return authorization.
• Returned goods are subject to a restocking charge equal to 15% of the credit given for the returned goods or $25.00, whichever is greater, to cover the cost of inspection, handling and restocking the returned goods.
• Products returned to Lifetime Industries must be unused and in resalable condition. Lifetime Industries reserves the right to inspect all returned goods upon its receipt thereof and to issue a final determination of whether such goods may be returned at such time.
• Credit for authorized returned goods will be based upon the original or the then current price for such goods, whichever is lower.

Special Products

The above information pertains only to items listed in current Lifetime Industries price sheets. Products requiring changes in materials, size, or packaging are considered “special products”, and are subject to special pricing and terms.

Remittances

All remittances should be made to: Lifetime Industries, 2130 Memphis Depot Parkway, Memphis, TN 38114. Remittances should be coded with the applicable invoice number(s) so that credit may be accurately applied.

Past Due Accounts

Accounts with open invoices past due 30 days or more (60 days or more from the applicable invoice date) must be paid in full before any further shipments of products will be made on such accounts. Accounts, which are chronically past due 30 days or more, are subject to credit review and reduction of open credit line. Accounts with open invoices past due 60 days or more (90 days or more from the applicable invoice date) are subject to immediate revocation of open credit status. Such accounts are subject to collection proceedings and will be placed on C.O.D. only basis for a minimum of 180 days after they have been paid in full. Where lawful, a maximum service charge of 1.5% per month (18% per annum) will be assessed on accounts in arrears; otherwise the highest lawful rate applies.

Warranty and Disclaimer

Lifetime Industries warrants title to the product(s) and, except as noted below with respect to items not manufactured by Lifetime Industries, also warrants the product(s) on date of shipment to the buyer, to be of the kind and quality described and are free of defects in workmanship and material. This warranty is expressly in lieu of, and Lifetime Industries hereby disclaims, all other warranties, including, but not limited to, implied warranties of merchantability and fitness for any particular purpose, and constitutes the only warranty of Lifetime Industries with respect to the product(s). Lifetime Industries makes no warranties as to any products that are altered or modified in any manner after delivery by Lifetime Industries.

If within 90 days from the date of initial operation, but not more than 12 months from the date of shipment by Lifetime Industries of any item of product(s), the buyer discovers that such item was not as warranted above and promptly notifies Lifetime Industries in writing thereof, Lifetime Industries will remedy such nonconformance by, at Lifetime Industries’s option, adjustment or repair or replacement of the item and any affected part of the product(s). The buyer shall assume all responsibility and expense for removal, reinstallation, and freight in connection with the foregoing remedies. The same obligations and conditions shall extend to replacements furnished by Lifetime Industries hereunder. Lifetime Industries shall have the right to dispose of products replaced by it.

Any separately listed item of the product(s) which is not manufactured by Lifetime Industries is not warranted by Lifetime Industries, and shall be covered only by the express warranty, if any, of the manufacturer thereof.

This states the buyer’s exclusive remedy against Lifetime Industries and its suppliers relating to the product(s), whether in contract or in tort or under any other legal theory, and whether arising out of warranties, representations, instructions, installation or defects from any cause. Lifetime Industries and its suppliers shall have no obligation as to any product which has been altered or modified after delivery by Lifetime Industries or which has been improperly stored or handled, or which has not been operated or maintained according to instructions in manuals or other literature furnished by Lifetime Industries or its suppliers.