Ingersoll-Rand Company Proposal for Equipment Sales

TERMS AND CONDITIONS OF SALE:  This proposal and any resulting order shall be governed by Ingersoll-Rand Company Standard Terms and Conditions of Sale 3.17, attached hereto and incorporated by reference. Unless previously agreed to in writing, any different Terms & Conditions appearing on the PO, including preprinted terms, shall not be accepted and may cause delays in acceptance of the Purchase Order.

TERMS OF PAYMENT: For Orders $99,999 and below: Net 30 days from date of shipment.

For Orders $100,000 and Over:

30% of order value invoiced on Ingersoll Rand acceptance of Purchase Order.

30% of order value invoiced 8 weeks from Ingersoll Rand Acceptance of Purchase Order 40% of order value invoiced on Shipment of Equipment

All invoices are due Net 30. All payments are to be made in the agreed upon currency (see proposal). Above percentages apply to the entire PO value. Pro rata payments on the last milestone to apply as shipments are made. Progress Payments on any special installations will be included in our proposal. Please include specific Progress Payments on your Purchase Order. Missing or different Payment Terms on the Purchase Order may cause delays in acceptance of the Purchase Order.

SHIPMENT: Shipments will be made in (see proposal) weeks after acceptance of the PO by Ingersoll Rand and receipt of complete information necessary for manufacturing. All Shipments are FOB Shipping Point. Freight will be charged at the rate quoted if shown on a separate line on the Purchase Order. Otherwise, freight will be added to the PO value on each shipment invoice. Any different shipment or freight terms on the Purchase Order may cause delays in acceptance of the Purchase Order.

DRAWINGS: Drawings will be submitted in (see proposal) weeks after acceptance of the PO by Ingersoll Rand and receipt of complete information necessary for manufacture.

PRICE POLICY:  Prices are firm for shipments scheduled not more than 360 days from date of order. If shipment is scheduled beyond 360 days from the date of order, escalation is required. (For current escalation policies refer to your local Ingersoll Rand representative).

All Proposals are valid for a period not to exceed 60 days from the date of Proposal. The Company reserves the right to amend such Proposals at any time. All orders are considered taxable unless a valid tax exemption certificate is supplied at the time of order.

SCOPE CHANGES: Price and lead time are based on the accompanying quote. Changes to this scope either at time of order or any time before delivery may result in changes to price and / or lead time.

CANCELLATION & ORDER HOLDS: as specified in the Ingersoll-Rand Company Standard Terms and Conditions of Sale.

Please reference the quotation number and revision level provided by Ingersoll Rand on your PO.