Terms and Conditions of Sale

1) Quotation and Contract – The Quotation is the document to which these Terms and Conditions are attached and apply, along with other documents supplied such as drawings, specifications, etc. All are considered integral to the Quotation and resulting Contract. Where there are discrepancies between the Quotation and documents supplied by the customer, the Tankstore Ltd. Quotation shall take precedence.

2) Acceptance - Unless otherwise stated the Quotation is valid for a period of 14 days from issue date. Upon verbal or written award by a customer representative the Quotation is immediately considered the Contract and Tankstore Ltd. will issue a Purchase Agreement and will commence the Contract scope of work.

3) Price – The price in the Quotation is stated in Canadian Dollars, ex-works at the company’s plant, unless otherwise specified. The price is exclusive of all duties, Federal or Provincial sales taxes, permits and similar taxes of any kind.

4) Payment – Terms of payment shall be net cash to be received 30 days following the issuance of the invoice (s). Progress payments, if applicable, are as specified in the Quotation. No holdbacks are applicable to any portion of the payment(s). Payments not received by the due date may be subject to late payment interest penalty of 1.5% per month (18% per annum), plus the repayment of any expenses incurred by Tankstore Ltd. In obtaining the overdue payments.

5) Delivery – The delivery and completion dates identified in the Quotation are approximate only and will be confirmed after scope of work has been determined. Tankstore Ltd. will undertake its best efforts to meet the confirmed schedule, but is not responsible for actual or consequential damages incurred by the Customer if delivery is delayed.

6) Force Majeure – Tankstore Ltd. is not responsible for delay in delivery if caused by Force Majeure, which includes but is not limited to acts of God, weather, labour disruption, jurisdictional approved delays, fire, or other act or circumstance which Tankstore Ltd. cannot reasonably protect against.

7) Security Interest – Full Title will pass to the Customer at the time the order is complete, whether or not the Customer has had the equipment moved to his site. For all Customer equipment at Tankstore Ltd.’s facility, the customer agrees to carry full insurance coverage. Such coverage is to be at the Customer’s expense.

8) Cancellation – Project cancellation charges will include all material and labour costs (including overhead) incurred on the project to the date of cancellation, with a minimum charge of 20% of the contract value.

9) Warranty – Tankstore Ltd. warrants that all equipment manufactured from the Quotation will be guaranteed to be free from defects in workmanship or materials for a period of one year from date of shipment. This warranty is limited to repair and does not include any cleaning, trucking or loss of production. In order to maintain warranty, claims must be submitted to Tankstore Ltd. in writing immediately upon discovery of the defect and Tankstore Ltd. must be given the first opportunity to repair or replace the defective part. Where there is a failure of a component purchased by Tankstore Ltd. the warranty coverage is limited to the provisions of the original manufacturers warranty

10) Tankstore Ltd. is not liable for any consequential damages of any kind as a result of the defect, such as, but not limited to, loss of revenue, profits, use of equipment, damage to other equipment or public property, etc. Tankstore Ltd. is not responsible for actions which result from the repairs or modifications by others unless acting under the direction of a Tankstore Ltd. representative.

11) Applicable Laws – The Contract shall be interpreted in accordance with the laws of the Province of Alberta. In the event of dispute the parties will first explore resolution by mediation or arbitration to assist in reaching a settlement. Failing such resolution, disputes will ultimately be resolved within the courts of Alberta.

12) Title of ownership will remain with Tankstore until account is paid in full.

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