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Standard Finishing Products Warranty



WARRANTY AND LIMITATION ON LIABILITY

Standard Duplicating Machines Corporation (“Standard”) warrants to Authorized Standard dealers and resellers only that new Standard Finishing Products (“Products”) purchased directly from Standard, will be free from defects in materials and workmanship, given normal, proper and intended usage (consistent with a single shift (8 hour) daily work environment) for a period of one (1) year from the date of shipment from Andover, Massachusetts on all mechanical parts and motors. Standard warrants all products for ninety (90) days from the date of shipment from Andover, Massachusetts with respect to electrical components. All stitchers, staplers, stapler heads and numbering heads are warranted by component parts and not as complete assemblies. This warranty extends to parts only and does not include labor. This warranty does not apply to consumable components, such as, but not limited to, lamps, fuses, clincher points, swivels, staple driver bars, cutting blades, Plexiglass covers, rubber rollers, suction cups, belts and other rubber-based components.

At its expense, Standard agrees to repair or replace at its sole option all defective parts, provided that Standard has been given written notice of such warranty claim within the applicable warranty period. If Standard is unable, after reasonable efforts, to repair or replace such defective parts, the purchaser's sole remedy shall be the refund of an amount not to exceed the actual payments received by Standard for such defective parts.

All repairs will be done during normal working hours. All replaced parts shall become the property of Standard. Standard may require the Products to be shipped to it or elsewhere and returned to the purchaser for warranty service to be performed. If Standard determines that the part or Products for which the purchaser has requested warranty service are not eligible for warranty service, for any reason, the purchaser shall pay or reimburse Standard for all costs of investigating and responding to such request at its then prevailing time and materials rates. If Standard provides repair services or replacement parts that are not covered by this warranty, the purchaser shall pay Standard its then prevailing time and materials rates.

Standard shall have no obligation to make repairs, replacements or corrections which result, in whole or in part, from (i) normal wear and tear, (ii) catastrophe, fault or negligence of the purchaser, (iii) improper or unauthorized use of the Products, (iv) use of the Products in a manner for which they were not designed, (v) causes external to the Products such as, but not limited to, power failure or electric power surges, (vi) use of the Products in combination with supplies neither sold by nor specifically approved by Standard (nor of an equivalent quality), or (vii) unauthorized repair or modification of the equipment.

EXCEPT AS STATED ABOVE, STANDARD DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, WRITTEN OR ORAL, WITH RESPECT TO THE PRODUCTS, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. STANDARD'S MAXIMUM LIABILITY ARISING OUT OF THE SALE OF THE PRODUCTS OR THEIR USE, WHETHER BASED UPON WARRANTY, CONTRACT, TORT OR OTHERWISE, SHALL NOT EXCEED THE ACTUAL PAYMENTS RECEIVED BY STANDARD IN CONNECTION THEREWITH. IN NO EVENT SHALL STANDARD BE LIABLE FOR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF PROFITS, LOSS OF DATA OR LOSS OF USE DAMAGES, ARISING HEREUNDER OR FROM THE SALE OF THE PRODUCTS, EVEN IF STANDARD HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.