NewStockMaterial is a solid resource for unused & used stock material and equipment.
The followings are the general terms and conditions and the specific terms will be provided along with the requested quotation.
- This website is made available to buyers and sellers. Free registration is made available to users (any person or entity) with a very simple and fast process.
- The user shall provide accurate and correct information at the time of registration. For validation purposes, the user will receive a confirmation email to the registered email account if registration is successful. The administrator may contact the user for further details if required.
Every User is required to have his/her own User Account, which may under no circumstances be used by several users. As part of the registration process, the User shall be allocated a username and password.
The user shall be exclusively responsible and liable for any use of or access to NewStockMaterial.
- If you have surplus material you would like to sell, NewStockMaterial is an excellent resource. We can market the surplus material on a global basis.
- The sellers can publish their available material and goods. The seller shall select the appropriate category and enter the following details:
- Technical description
- Model, Type, and Part number
- Condition of the material/equipment (New, used, storage condition, etc)
- Location of the material/equipment
- Delivery terms (Default: As is where is)
- Price (optional).
- Publisher information will not be published and will remain confidential with the administrator. It will be published only if the publisher agrees.
- The buyers can easily search the available material and equipment and send an inquiry for the selected material. We will be pleased to process your inquiry for the selected items at the earliest possible and provide you the quotation along with the terms and conditions.
- The buyer shall send the purchase order (PO) following receiving the quotation. NewStockMaterial will review the PO and send acknowledgment, comments (if any), and confirmation. In the event of a verbal agreement, the Contract will only be concluded after NewStockMaterial written approval.
- Delivery term is mostly on “Ex-work” or "As-is-where-is" basis unless otherwise specified. Please refer to Incoterm 2010 for the definition of delivery terms.
The delivery term “As is where is” basis:
"As-is-where-is" is common terminology for surplus stock and used items and items sold at auction. It may or may not have hidden defects. "As is" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists and that the buyer is accepting the item "with all faults", whether or not immediately apparent.
The "where-is" part means it is the buyer's responsibility to get the item from the location where it is at the time of sale to the location where the buyer wants it.
The Customer shall pick up the Goods on the delivery date. Otherwise, the goods will be stored at the Customer’s cost. Any storage costs shall be paid before pick-up.
- NewStockMaterial will be pleased to provide the best offer to arrange delivery.
- Administration fees will be charged on top of the indicated price.
- The buyer is responsible for all costs of dismantling (if required), packing, loading, transportation and shipping, insurance, custom clearances, taxes, and any other legal costs and duties.
- Cancellation: the Customer shall pay the cancelation fee if the Customer unilaterally cancels the PO.
However, once the Goods are delivered, cancellation of the PO is not allowed in consequence of which the Contract shall be fully executed, unless NewStockMaterial has accepted the cancellation. Conditions may apply.
The Customer bears sole responsibility for his cancellation and will release NewStockMaterial from any claims that are or could be a result of his cancellation.
- Prices & Payment: Quoted prices and rates are excluding VAT, freight and administration costs, fees of third parties, and miscellaneous expenses. If applicable these expenses will be charged additionally.
The Goods must be fully paid in advance unless otherwise agreed in the Contract. If the Customer fails to pay within the payment period, he will automatically be in default allowing NewStockMaterial to demand fulfillment of the Contract and/or (alternatively) to terminate the Contract and claim damages (e.g. interests, storage-costs, costs of delay, and loss of earnings). The Customer shall pay the agreed price as provided in the contract. As long as the Goods are not paid, proprietary rights of the Goods will stay with the owner allowing NewStockMaterial to reclaim the delivered Goods.
Once the payment period of the Invoice has expired, an interest of 2% (two percent) per month is calculated cumulatively over the total Invoice amount.
- DISPUTES AND APPLICABLE LAW: In the event of any dispute, arising out of the accomplishment, interpretation, and execution of the PO, an attempt shall first be made to settle such a dispute in joint discussions. If the dispute cannot be reached amicably, then the settlement of any disputes arising from or in connection with the interpretation or application of the PO will be entrusted to the exclusive competence of Dubai Law Courts (UAE).
- FORCE MAJEURE: Seller shall not have any liability or be considered to be in breach or default of its obligations under the Contract to the extent that performance of such obligations is delayed or prevented, directly or indirectly, due to, but not limited to: (i) causes beyond its reasonable control; or (ii) acts of God, acts (or failures to act) of governmental authorities, fires, severe weather conditions, earthquakes, strikes or other labour disturbances, floods, war (declared or undeclared), epidemics, civil unrest, riot, delays in transportation, or car shortages; or (iii) inability on account of causes beyond the reasonable control of Seller to obtain necessary materials, components or services. Seller shall notify Buyer in the event of any such delay. The date of delivery of Products or the Completion Period shall be extended for a period equal to the time lost by reason of delay, plus such additional time as may be reasonably necessary to overcome the effect of such excusable delay. Seller shall notify Buyer, as soon as practicable, of the revised delivery date.
- Liability: NewStockMaterial shall in no event be liable for any indirect, incidental, special or consequential damages arising out of or relating to these general terms or contract, or to the sale or use of goods, irrespective of whether or not NewStockMaterial had advance notice of the possibility of such damages.
- Confidential information: NewStockMaterial will keep confidential all information supplied by the Customer and registered users. NewStockMaterial will only provide confidential information to third parties to execute the Contract or required by applicable law or court order.