Additional Terms
RISK OF LOSS AND INSURANCE : At no time will IPS hold any ownership or title in the product(s) except in the event of inventory liquidation. The title and ownership will continue to be held by the CLIENT until such ownership passes to the CLIENT’S CUSTOMERS. At no time will IPS carry the risk of loss in the inventory. The CLIENT understands that it is the CLIENT’S responsibility to maintain insurance that covers its products in inventory. Many times, CLIENTS add the inventory as a storage location to the CLIENT’S insurance policy. These events and occurrences that IPS will not be held liable for relating to inventory include fire, natural disaster, theft, shipment issues, errors, damaged inventory, missing inventory, inventory loss or damage of any kind, or any issues not listed. IPS is a third-party contractor and bears no liability for the business operation of the CLIENT. IPS’ obligations, guarantees, and services are provided on an “as is” and “as available” basis. IPS applies best efforts but makes no guarantees of performance. IPS DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESSED OR IMPLIED INCLUDING, BUT NOT LIMITED TO, FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, TIMELINESS, AVAILABILITY OF IPS STAFF, SALES POTENTIAL FOR ANY AND ALL SERVICES PROVIDED BY IPS AND ANY THIRD PARTY SERVICES INCLUDING SHIPPING VENDORS. THE USE OF THE SERVICES IS AT THE CLIENT’S RISK. NEITHER IPS OR ITS REPRESENTATIVES ARE LIABLE FOR ANY LOSS OF PROFITS, REVENUE, OR DAMAGES RELATED TO THIS AGREEMENT WHETHER OR NOT THE POSSIBILITY OF SUCH DAMAGES HAS BEEN DISCLOSED. IPS LIABILITIES WILL NOT EXCEED THREE DAYS OF PACKING FEES, EXCLUDING CARRIER FEES OR OTHER 3RD PARTY FEES.
Shipping: A shipping deposit will be required from CLIENT prior to IPS commencing shipping packages for CLIENT. The shipping deposit amount will be based on seven (7) calendar days of projected shipment volume for CLIENT and the estimated average shipping rates. For example, if CLIENT’s projected shipment volume is 1000 shipments AND est. shipping rate is $3.33 per unit based on projected weights and measures, then the deposit amount would be $3,330. The shipping deposit will normally be paid via credit card and may be adjusted monthly at the beginning of the month. Merchant Fees: A 3% (three percent) merchant fee will be added to all shipping costs that are paid via credit, unless CLIENT prepays Shipping at least 5 days in advance via cash payment (ACH).
