1. NATURE OF DOCUMENT

This Acknowledgement of Order is a confirmation by Steven Plastics, Inc. ("the Company"), a Corporation directed to the party to whom this Acknowledgement is furnished ("the Buyer") providing for the sale of certain products and/or the performance of the first page of this Acknowledgement ("the Service") to Buyer on these Terms and Conditions of Sale. Any different or additional terms, which may subsequently be submitted by the Buyer, are hereby objected to and rejected. This Acknowledgement supercedes any oral terms which may have been previously furnished by the Company to the Buyer. Twenty-four (24) hours after this Acknowledgment is transmitted to the Buyer, the terms of this Acknowledgement shall be unconditionally accepted by the Buyer without the formality or necessity of a signature. In the event that the Buyer fails to notify the Company, in writing, within said twenty-four (24) hour period of any exceptions taken to these terms of the Service listed on the first page of this Acknowledgement, the Company shall commence providing the Service in reliance upon these terms and conditions.

2. TERMINATION BY THE COMPANY

The company reserves the right to unilaterally terminate the contract for the Service at any time the Company determines that Buyer's credit is not satisfactory. The Company, in its sole discretion, may require that the Service be provided on a "C.O.D." basis to the Buyer.

3. CANCELLATION/ALTERATION BY BUYER

Orders may not be canceled/altered once the service or manufacture has begun and/or been completed. Prior to the commencement of the service or manufacture, orders may only be canceled upon the payment of the cost of ray materials, component parts, engineering and administrative time and supplies on which commitments have been made, as well as the profit which the Company would have made on the completed contract. All orders against Yearly Quoted usages that are canceled are subject to a 10% charge of remaining balance.

4. PRICES

All prices are F.O.B. the Company's plant utilized, exclusive of taxes and duties. Quoted prices are subject to change, without prior notice, at any time prior to acceptance by Buyer. Errors of omissions in prices are subject to correction.

5. PAYMENT

Terms are NET 30 unless otherwise specified. No cash discount is given. If shipments are delayed at Buyer's request, or delayed as the result of an embargo or other restrictions affecting normal transportation, final or payment(s) shall become due and payable within 30 days after Buyer has been notified that the Service is ready for shipment. Interest may be imposed without further notice at a rate of 1.5% per month as of Term plus 1 with a minimum handling fee of fifty dollars. Funds advanced out of pocket for a Buyer out of term or discounted term for materials or special requirements will be surcharged 17%.Costs for special requirements will be passed through to the buyer.

6. FREIGHT

Carriers will be selected by the Company, unless the Buyer instructs otherwise. Claims against carriers must be filed by Buyer on all F.O.B. shipments upon receipt of the shipment.

7. INSPECTIONS

Buyer must inspect the Service and notify in writing within 3 days of receipt if there are any defects, which could be determined by a thorough visual inspection. IF the Company is not so notified, the Buyer waives any recourse for those defects and all warranty obligations of the Company with respect to such obvious defects shall terminate.

8. LIMITED WARRANTY

On claims made within the 3 days of receipt, the Company will repair or rework, at its election, all defects due to its workmanship, however, no costs of removal or reinstallation of the molds, dies or tooling ("Tooling") shall be borne by the company. Defective conditions caused by the Buyer or any other user or third parties, Acts of God, Abnormal use, or abuse or stress or any other matters unrelated to the Company and beyond it reasonable control are excluded from this Limited Warranty.
The above Limited Warranty is exclusive and all other warranties, express or implied, are specifically excluded from the contract, including THE IMPLIED WARRANTIES OF MERCHANTABLILITY AND FITMESS FOR A PARTICULAR PURPOSE.

9. CONSEQUENTAIL DAMAGES

In no event shall the Company be liable to the Buyer or any other party for loss of use, revenue or profit or for any other incidental, special, or consequential damages involving the Service, Moldings or Tooling.

10. DELIVERY; DELAYS

The delivery dates for providing the Service are approximate and subject to confirmation. The Company shall not be liable for any delay or failure to perform if caused by an event or contingency beyond the control of either the Company or its suppliers, irrespective of the nature thereof; including, but not limited to, a strike or other labor difficulty, a failure of machinery or equipment, a failure or delay in transportation, a shortage of labor, fuel or raw material, a governmental or judicial action, a fire, flood, accident, explosion, epidemic, storm earthquake or Act of God. Any additional expenses incurred by the Company caused by delays in receipt of details, specifications or other pertinent information from Buyer, or caused by changes requested by Buyer, shall be chargeable to Buyer. Unless otherwise agreed, the Company shall have the right to deliver and invoice any part of this order immediately upon completion of the Service and Buyer Agrees to make payment thereof within the time specified herein.

11. CHANGES IN SPECIFICATION

All changes in the specifications from those outlines in this Acknowledgement must be accepted by the Company in writing. Buyer agrees to pay any increase in price and to extensions of delivery dates necessitated by such changes.

12. SURCHARGES

Any Surcharges incurred, from freight, Fuel Charges, or Cost due to Oil Prices will be passed on invoices.

13. MODIFICATION; GOVERNING LAWS; ENTIRE AGREEMENT

No modification of the terms and conditions specified in this document shall be binding upon the Company unless agreed to by an authorized representative o f the Company in writing. The contract and all transactions between the parties shall be governed by and construed in accordance with the laws of the State of the Company's place of business shown in the first page of this Acknowledgement. These provisions shall constitute the entire agreement of the parties with respect to the rendering of the Service by the Company to Buyer.

14. ARBITRATION

Any controversy or dispute arising under the contract, or the breach thereof, or the rendering of the Service shall be resolved by binding arbitration in the State of the Company's place of business shown on the first page of this Acknowledgement, under the rules of the American Arbitration and judgement upon the award may be entered in any court having jurisdiction. The Buyer hereby consents to and submits to the jurisdicti8on of the State of the Company's place of business shown on the first page. In the event of a dispute, the non-prevailing party shall bear the expenses of the other party's attorney's fees, cost and expenses.

15. INDEMNIFICATION AND PRODUCT USE

Buyer hereby agrees to indemnify, defend and hold harmless the Company from and against all loss, damage or expense incurred in connection with any injury to persons and damage to property resulting from, or in any way connected to the possession, sale, resale, transfer or use of tooling involving the Service. Buyer agrees to comply with all applicable Federal or State safety and licensing requirements. Buyer shall comply with and require its employees to comply with all product directions set forth in instructions and manuals. Buyer shall not remove or permit anyone else to remove any safety devices, guards, warnings or instruction signs on any equipment.

16. BUYER FURNISHED TOOLING

When the Buyer furnishes Tooling to the Company for any type of molding, repairs, etc., the risk of loss or damage to the Tooling shall remain exclusively with the Buyer. If the Tooling is rendered unusable, the Buyer shall pay the Company for all maintenance and work performed to that point. Effective April 3, 2019, all non-producing molds stored in our facility for more than 70 days without use or an open PO, may be assessed a minimal monthly fee of $375 per group of molds or mold comprising a job, and if in default of terms, not limited to the 70 days, a fee not greater than $35 per day depending on mold size and circumstances.