Tag: Contract

  • Warranty For Interior Decoration Carpentry

    Many of us, after spending a lot money on purchasing a New House, entrust the carpentry work/Interior Decorations to some carpenters or some people styling as Interior decorators.

    We do not enter into any Warranty.

    The Carpenter, Interior decorators tell you that the raw material they have used is the best and the Wood will last for Ten years, other things like door handles, Fittings will last Five Years.

    There seems to be no format available.

     

    I am providing a Format, which may be customized.

     

    This may be cross checked with your lawyer.

     

    Stamp paper of Rs 25 will do.

     

    But gentlemen do not need agreements, but others can  break it at will, whatever the Clauses!

     

     

     

    Warranty.

    This Agreement of Warranty is executed between,

    ……., S/o ……., Aged  years , residing at  …………………………………….                      ,hereinafter called Party of the First Part,

    And

    Mr./M/s ………S/o , engaged in the business of Interior work/decoration of Homes.’ Residing/located at,……………………………………………

    Hereinafter called Party of the Second Part,

    Whereas party of the Second Part approached party of the First Part to do Interior decoration, Carpentry work of the residence of party of the First Part, described in detail in the annexure and  Party of the First Part having agreed to give him the Work for a consideration of Rupees  /- ( …….. ) as per specifications of the Party of the First Part,

    And the Party of the Second Part, having completed the work  and Party of the Second Part , having paid the agreed consideration of Rupees…….,in full, to Party of the First part

    Now enter into an Agreement of Warranty on the Following terms and conditions.

    1. Party of the Second part shall replace without any cost, damaged, defective wood used in the work done at the property of the party of the First Part, for period of Ten Years.

    2. Cost here includes the cost of replacement of such wood that might need replacement and the labour cost involved in carrying out this work.

    3.This replacement of parts used in the work such as Doors, Handles, Faucets ,Door Knobs, Latches, Hinges, Padlocks, springs  and this warranty for these items will be for a Period of Five Years, bells, shelves, screws, hangers, hydraulic equipment, fixtures and kitchen baskets.

    4. This Warranty includes ,

    4. During such period, the Party of the Second Part shall replace, without any cost, the defective, malfunctioning components, items, to the Party of The First Part.

    5. Here Cost denotes cost of the material replaced and the labour charges involved therein.

    6.In such an event the party of the Second Part , not being able to fulfil this Warranty, Party of the Second Part, shall pay to party of the Second Part ,a sum equivalent to the cost of the material/s to be replaced and the labour charges involved in repairing/installing the same.

    7.The Cost ,in such cases, will be determined by the party of the First part , at market rates, including labour and party of the Second Part shall ay the Party of the  First Part the amount on the claim made by Party of the First Party prior to replacing, reinstalling of such components, products .

    8. Limitations.

    Limitations: Materials/Components

    Laminates, Veneers / Finishes / Hardwoods – 10 years

    Electrical lamps, Ballasts, Transformers – 5 years

    Fabrics, pneumatic lifts, foam – 5 years

    Custom products built to customer specifications – 5 years

    Seating foam padding – 5 years

    Seating metal accents glides – 10 years

    Seating wood frame – 10 years

    Seating High Use Items – 5 years

    (High Use Items include, but are not limited to, table arms, electrical components, ganging mechanisms, pneumatic lifts, and polymer based components)

    9. The Warranty will come into Force effective September 1(First of September), 2013.

    10. Any dispute arising out of this agreement is subject to ………….Jurisdiction.

    11. Parties of the   First Part and the Second Part hereby affirm the aforesaid agreement and sign this Agreement,

    Dated , …….,……,….

    Annexure.

     

    Party of the First Part.                                                                                                                                                                                    Party of the Second Part.

    (                                       )                                                                                                                                                                                           (                                                )

    Witnesses.

     

    1.Name and Address.                                                                                                                                                                                                                      Signature

    2.

    .

    Place.

    Date.

  • Man Makes Credit Card Terms Sues Bank

    A man in Russia made his own terms for a Credit Card,the Bank signed it and now has sued the bank for not honoring its contract!

    Credit Cards.
    Credit Cards.

    Of course there is a legal battle.

    Wish every one can do this !

    Story:

    But he didn’t throw the contract away or shred it. Instead, the 42-year-old from Voronezh, Russia, scanned it into his computer, altered the terms and sent it back to Tinkoff Credit Systems.

    Mr Argarkov’s version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles.

    Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card.

    “The Bank confirmed its agreement to the client’s terms and sent him a credit card and a copy of the approved application form,” his lawyer Dmitry Mikhalevich told Kommersant. “The opened credit line was unlimited. He could afford to buy an island somewhere in Malaysia, and the bank would have to pay for it by law.”

    However, Tinkoff attempted to close the account due to overdue payments. It sued Mr Argakov for 45,000 rubles for fees and charges that were not in his altered version of the contract.

    Source:

    http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10231556/Man-who-created-own-credit-card-sues-bank-for-not-sticking-to-terms.html