Terms of Service for procurements

Ordering Process:

To place an order, kindly send us a purchase order via email. Upon acceptance, we will issue an invoice for the total amount. The complete payment of the invoice amount, with no deductions or offsets, is required in advance of Silverwood Advisors Pte Ltd securing the goods unless an alternative arrangement has been offered to the Customer. To secure the price and availability of the goods, prompt payment is advised. Our offers are valid for only 2 working days.

To ensure a smooth and efficient transaction, kindly provide us with the necessary details for the invoice and choose the fastest payment method available.

PREAMBLE:

For a given purchase order, Silverwood Advisors Pte Ltd acts in your capacity as an appointed procurement specialist on a fee-based structure. Our primary focus is the procurement of hard-to-find electronic components. Given the shortcomings of traditional methods in the high-risk environment of bottleneck spot markets, we employ an advanced approach. As our customer, you delegate to us the function of your purchasing office for this particular contract, which allows us to streamline the procurement process. This includes managing test procedures with relevant test agencies and ensuring expeditious order fulfillment. Our primary goal is to provide these services in the shortest possible timeframe. This is the reason why we can only work with placed purchase orders secured with a minimum down payment (against invoice) to our accounts.

THE SALE OF PRODUCTS AND SERVICES (“PRODUCTS”) BY SILVERWOOD ADVISORS PTE LTD IS SUBJECT TO AND CONDITIONED UPON THE UNCONDITIONAL ACCEPTANCE, BY THE PURCHASER (HEREINAFTER REFERRED TO AS “CUSTOMER”), OF ALL OF THE FOLLOWING TERMS AND CONDITIONS (HEREINAFTER REFERRED TO AS “AGREEMENT”).

CUSTOMER REPRESENTS AND WARRANTS THAT ANY ADDITIONAL TERMS OR PROVISIONS INCONSISTENT OR CONTRADICTORY TO THIS AGREEMENT IN ANY PURCHASE ORDER, DOCUMENT OR OTHER COMMUNICATION SHALL BE NULL AND VOID AND UNENFORCEABLE.

CLIENT FURTHER EXPRESSLY AGREES THAT THE SIMPLE FAILURE OF SILVERWOOD ADVISORS TO OBJECT TO ANY CONFLICTING OR ADDITIONAL TERMS SHALL NOT MODIFY OR EXTEND THE TERMS OF THIS AGREEMENT AND THAT THIS AGREEMENT MAY ONLY BE MODIFIED BY THE EXPRESS WRITTEN CONSENT OF AN AUTHORIZED REPRESENTATIVE OF SILVERWOOD ADVISORS PTE LTD.

a. ORDERS. All orders are subject to acceptance by Silverwood Advisors. No order shall be effective unless accepted by Silverwood Advisors Pte Ltd. Silverwood Advisors Pte Ltd reserves the right to allocate sales of products among its customers at its sole discretion.

b. All signed and acknowledged written oral orders shall be legally binding and shall be NCNR.

PRICES.

Prices quoted by Silverwood Advisors will be honored twenty-four (24) hours after the date shown on the quotation unless a different date is specifically stated in its quotation. Silverwood Advisors Pte Ltd may increase prices if Silverwood Advisors Pte Ltd’s costs increase or if there are other circumstances beyond Silverwood Advisors Pte Ltd’s reasonable control. The prices contained in the quotations are for products only and do not include any other fees or charges that may apply, such as taxes, duties, customs, shipping charges, and fees imposed by any governmental authority. The customer is solely responsible for any additional fees or charges that may apply.

TERMS OF PAYMENT.

Payment of the full invoice amount, without set-off or deduction, must be made prior to delivery or in accordance with the specific payment terms agreed upon by Silverwood Advisors Pte Ltd and the Client. All payments must be made in the currency specified on the invoice. The Client is responsible for any bank charges that may be incurred on international transactions.

DELIVERY AND TRANSFER OF RISK.

Delivery of the Products shall be “ex works” (Incoterms 2020) at Silverwood Advisors Pte Ltd’s place of business or ex-warehouse in China. The risk of loss and damage to the Products shall pass to the Customer as soon as the Products are made available to the carrier. However, the shipment includes transportation insurance.

RESERVATION OF TITLE.

Until full payment of the purchase price, the products remain the property of Silverwood Advisors Pte Ltd.

WARRANTY.

Silverwood Advisors Pte Ltd warrants the products to be free from defects in materials and workmanship. In the event of defects, Silverwood Advisors Pte Ltd will repair or replace the products at its sole discretion.

DISCLAIMER.

Silverwood Advisors Pte Ltd shall not be liable for any indirect, incidental, special or consequential damages arising out of the sale, delivery, use or failure to use the products.

APPLICABLE LAW.

This Agreement shall be governed by the laws of Singapore.

AMENDMENTS.

Silverwood Advisors Pte Ltd reserves the right to change the terms of this Agreement at any time. Client will be notified of any such changes and Client’s continued use of the Products will constitute Client’s acceptance of such changes.

ACCEPTANCE OF PRODUCTS AND RETURNS.

Most of the obsolete and hard to find parts we source are OEM surplus. Many parts we source are custom orders from the manufacturer and may be on special rolls to meet their OEM specifications or requirements. Unless otherwise stated, all orders are guaranteed for fit, form and function for 90 days from the date of order.

Silverwood Advisors Pte Ltd offers a service to send all orders to White Horse Labs or Tüv Süd to authenticate all orders. This happens in random procedure. If tests are not passed 100%, we do not accept the parts from the supplier and issue an RMA for replacement or refund. This works smoothly as we are on-site in Asian with our group of companies.

If Silverwood Advisors Pte Ltd’s client chooses to accept the parts after a failed and or passed test from Silverwood Advisors Pte Ltd, all parts are NCNR. Once tests are 100% passed, the customer takes ownership of all parts and the 90 day warranty for fit, form and function takes effect.

So although we have your order checked by TÜV Süd or White Horse Labs before shipping, we offer an additional layer of security:

After you receive the order in your warehouse, you may elect to have the order tested by a designated entity (or equivalent service provider) of your choice at your own expense. You have up to 90 business days after receipt of the order to notify us of items and file a claim for those items that did not pass the test. In this case, you must provide us with a detailed report and photos of the test site in case of a claim. Please send everything by email to: info@sourcinggrid.com. For items that do not pass the test, we will send new units. We will not ask any further questions, but the defective items must be sent back to us or to a person/company in Europe appointed by us.

LIMITATION OF LIABILITY.

SILVERWOOD ADVISORS PTE LTD SHALL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, SUCH AS LOSS OF PROFIT OR REVENUE, LOSS OF DATA, LOSS OF USE, REWORK, MANUFACTURING COSTS, INJURY TO REPUTATION OR LOSS OF BUSINESS. CUSTOMER’S RECOVERY FROM SILVERWOOD ADVISORS PTE LTD FOR DIRECT DAMAGES WILL NOT EXCEED THE PRICE OF THE AFFECTED PRODUCT.

FORCES OVER SILVERWOOD ADVISORS PTE LTD’S CONTROL.

Silverwood Advisors Pte Ltd shall not be liable for any failure to fulfill its obligations under an accepted purchase order or for any delay in delivery due to circumstances beyond its control, such as acts of God, omissions of the customer, man-made or natural disasters, acts of war, epidemics or medical crises, shortages of materials, strikes, terrorism, delays in transportation, or inability to obtain labor or materials through its regular sources.

USE OF PRODUCTS.

Products are not approved for use in critical safety or other applications where failure may result in personal injury, loss of life or catastrophic property damage. If Customer uses or sells the Products for such applications, Customer acknowledges that such use or sale is at Customer’s own risk and that Customer will hold Silverwood Advisors Pte Ltd responsible for any damages, lawsuits, legal actions, costs, fees or other losses resulting from such uses.

EXPORT/IMPORT.

Certain products and related technology and documentation sold by Silverwood Advisors Pte Ltd may be subject to export and import control laws, regulations, and orders of various countries. Customer shall not export or transfer, directly or indirectly, any Products and/or Related Technologies and/or Documentation to any third party or to any country where such export or transfer is restricted or prohibited by law. The customer agrees that it is responsible for compliance with all applicable laws. Likewise, the Customer is responsible for obtaining all necessary licenses for export, re-export or import and for bearing all related costs.

APPLICABLE LAW.

This Agreement and all sales hereunder shall be governed by the laws of the Republic of Singapore, without regard to its conflict of law provisions. Customer agrees that any legal action or dispute arising out of this Agreement shall be filed in the judicial district of Singapore.

AMENDMENTS.

Silverwood Advisors Pte Ltd reserves the right to change these Terms of Sale at any time. Changes will be posted on this website and will apply to all subsequent orders.

ENTIRE AGREEMENT.

These Terms of Sale (together with the Privacy Policy and other policies posted on this website) constitute the entire agreement between Customer and Silverwood Advisors Pte Ltd with respect to the purchase of Products and supersede all prior or contemporaneous written or oral agreements or understandings