1. Any goods supplied by PESECo remain the property of PESECo until payment has been received in full.
2. Contracts or orders placed with PESECo, may only be cancelled with the agreement of PESECo .A cancellation charge will be made in this case, the value of the cancellation charge applied will be solely at PESECo’s discretion.
3. Payment of all invoices to be received in full within 30days of invoice date. Invoices will be couriered with Bills of Lading for deliveries by sea. In the event of late payment PESECo shall be entitled to charge interest at the rate of 5% per calendar month (Or pro Rata) and until all sums due are received.
4. Any queries that may arise concerning any invoice should be notified to PESECo within 14 days of receipt of invoice. Any query received after more than 30 days will not be entertained.
5. All goods supplied by PESECo will be supplied strictly in accordance with “Inco Terms”. If supplied on an “Ex works” or “Carriage & Freight” basis, PESECo will not insure these goods and the customer should make their own insurance arrangements.
6. Goods will only be re stocked if a specific re stocking agreement was made during the tender or quotation and a credit rate for re stocking has been previously agreed. No goods will be re stocked after more than 90 days from original delivery date ex works.
7. All goods supplied by PESECo are available for independent third party inspection prior to collection or shipment. Customers should arrange third party inspection at their cost if required. PESECo will offer the customers third party inspector every facility to inspect and accept (Or reject) these goods. Once inspection is complete by the customers third party inspector the goods shall be deemed acceptable for service by the customer. Any goods deemed to be unacceptable by the third party inspector shall be replaced by PESECo at PESECo’s cost.
8. PESECo warrants that all goods supplied are suitable for use in the service intended but within the limitations of American Petroleum Institute / manufacturers specifications for the product concerned. No other warranty or guarantee of performance of any sort is made by PESECo.
9. PESECo will not be liable for “Consequential loss” due to the failure of any goods supplied.
10. For equipment rented out by PESECo, the rental rate quoted starts on the day of mobilisation and ceases on the day returned including both of these days.
11. Any equipment rented out by PESECo will have a “LOST IN HOLE” or replacement value value. This value will be identified on our quotation or tender documents. In the event, any rental equipment is lost, destroyed, damaged beyond economic repair or not returned for any reason whatsoever, the “LIH” / replacement value will be invoiced and the customer agrees to pay this amount immediately.
12. There will be no “Depreciation” applied to the “LIH” or replacement value(s) applied to equipment referred to in item 10. The whole “LIH” or replacement value shown in our tender or quotation will apply.
13. All equipment rented out by PESECo will be inspected & tested by ourselves prior to collection / delivery. The customer can attend these tests or nominate an independent third part inspector to attend on their behalf. A “Certificate of conformity” will be issued by PESECo for all rental equipment.
14. In the event rental equipment is damaged in any way while away from our premises, then all repair costs will be re charged to the customer. If Third Parties are used for these repairs then their total invoice value will be re charged. If PESECo personnel carry out the repairs then labour costs will be charged in accordance with our standard hourly rates applicable for the personnel at the time. Materials purchased to be re charged at cost plus 15%.
15. Any electrical or hydraulic umbilical damaged in service while on rental in any way whatsoever, will be replaced with identical new umbilical irrespective of the age of the umbilical and these replacement costs invoiced in full to the customer. Should the customer elect to carry out temporary repairs for operational reasons, then, these costs will be for the customers account. Any repaired umbilical can be collected by the customer after the new replacement umbilical has been received, tested, installed and flushed, from PESECo.
16. It is the customer’s responsibility to ensure that insurance to the “LIH” or replacement value of any equipment rented from PESECo is in place before collection or our delivery of the equipment.
17. Service Engineers & Technicians are available from PESECo to supervise the installation of equipment supplied for offshore or onshore use. The hourly or daily rates for their services will be quoted for each job. These charges commence when the engineer reports to the designated location in Aberdeen and ceases when they return to Aberdeen (Including both of these days). All travel and subsistence costs to be re charged at cost price in addition to the daily or hourly rate agreed or the customer can provide these services.
18. Value added tax will be charged at the appropriate rate for all goods & services used in the UK. For “Overseas” operations, any local taxes or “Withholding taxes” will be added to the invoice value. Customers operating overseas agree to advise PESECo of any such local taxes that may be applicable “Prior to contract”. If goods are collected by our customers for use outside the UK, then proof of export must be provided within 30 days of collection otherwise Value Added Tax at the prevailing rate will be charged to the customer.
19. PESECo are subject to the law in the UK for financial audit. Audited accounts are published each year. We will therefore not entertain additional financial audits by any third party acting on behalf of any customers under any circumstances.
20. PESECo recognise the needs of our customers to carry out technical quality assurance / control audits and will afford our customers every faciliy to conduct these audits as our customers should require provided a reasonable period of notice is given. We request no less than 7 days notice is given.
21. Any equipment sold or rented by PESECo will have a documentation package including all relevant certification required by UK Statute prepared and sent to the customer address within 7 days of shipment. Any query’s arising concerning such a QA package must be notified to PESECo as soon as possible but no later than 21 days after shipment.
22. PESECo insists on honesty, integrity and fairness in all aspects of our business and expects the same in our relationships with all those with whom we do business. The Company considers that the direct or indirect offer, payment, soliciting or acceptance of bribes or facilitation payments is unacceptable. Our employees are obliged to avoid conflicts of interests between their private activities and their part in the conduct of the Company business. Our employees are obliged to declare to the Company potential conflicts of business. All business transactions on behalf of the Company must be reflected accurately and fairly in accounts of the Company in accordance with established procedures, and are subject to audit and disclosure.
 

PESECo reserve the right to change these terms & conditions at anytime and at our sole discretion.