Terms of Trading

Purchase Order. Order may be placed by phone or email, followed by a complete written purchase order (PO) through fax.

Mode of Shipment. FOB Cagayan de Oro City. The goods will be sent by air or sea vessel specified by the buyer in the PO.

Terms of payment. A 50 percent down payment is required upon receipt of PO and a 50 percent balance payment should be given prior to shipment of goods. Payment will be made via telegraphic transfer to peso checking account 00120-000956-6, under the account name Kindelen Enterprises, at Union Bank, Lapasan Highway, 9000 Cagayan de Oro, Philippines. Production of order will begin after confirmation of down payment.

All goods shall remain as legal property of Kindelen Enterprises until full payment has been received.

The buyer shall notify Kindelen Enterprises within five (5) days after the receipt of wrong, faulty or damaged goods. Failure to give notice within the agreed period shall render the buyer liable for payment of all the goods as invoiced and the buyer shall have no further right to reject goods or recover any compensation for them. Goods returned shall not then be accepted.

Force Majeure. If Kindelen Enterprises is prevented from delivery due to war, industrial unrest, fire, trade dispute and other causes beyond reasonable control, the PO shall be fulfilled as soon as circumstances permit, or cancelled, or re-negotiated.

Nature of products. The buyer is aware that since each piece of commodity sold by Kindelen is handmade, each piece may vary in color, size, texture, and weight.

No terms or conditions other the aforementioned shall be binding on Kindelen Enterprises and the buyer unless the changes have been set down in writing and signed by the duly authorized persons of Kindelen Enterprises and the buyer.

Revised March 10, 2005