VERTICAL MACHINING CENTER (VMC)

Payment Terms & Conditions

1. Payment Authorization

   By completing the payment, the Buyer authorizes The Purchase House to collect the applicable payment amount for the selected product(s) through the payment methods available on the Platform.

   The Buyer confirms that the payment method used belongs to them or that they are legally authorized to use it.

2. Pricing

   All prices displayed on the Platform are in Indian Rupees (INR) unless otherwise specified.

   Prices displayed on the Platform may be inclusive or exclusive of applicable taxes, as indicated on the respective product page.

   Prices are subject to change without prior notice until the payment has been successfully received and the order has been confirmed by The Purchase House.

3. Payment Methods

   The Purchase House accepts payments through secure payment channels, including but not limited to:

   • Any payment method made available on the Platform
4. Payment Confirmation

   A purchase shall be considered confirmed only after:

   • Successful receipt of the payment by The Purchase House;
   • Verification of the transaction, where required; and
   • Confirmation of the order by The Purchase House.

   Receipt of payment alone does not automatically guarantee acceptance or confirmation of the order.

5. Order Verification

   The Purchase House reserves the right to verify the Buyer’s payment details, billing information, or order details before processing any transaction.

   Where necessary, The Purchase House may request additional information or documentation to complete the verification process. The Purchase House also reserves the right to place any transaction on hold or cancel an order if fraudulent, unauthorized, or suspicious activity is suspected.

6. Taxes & Additional Charges

   Applicable GST and other statutory taxes shall be charged in accordance with applicable laws.

   Where applicable, additional charges such as transportation, loading/unloading, insurance, documentation, bank charges, or payment gateway charges shall be payable by the Buyer and will be communicated during the order process.

7. Payment Failure

   If a payment transaction fails due to banking issues, payment gateway errors, insufficient funds, technical issues, network failures, or any other reason, the order shall not be processed until successful payment is received.

   The Purchase House shall not be held responsible for delays or failures caused by banks, payment gateways, or other third-party payment service providers.

8. Fraud Prevention

   The Purchase House reserves the right to refuse, suspend, investigate, or cancel any transaction suspected to be fraudulent, unauthorized, illegal, or in violation of applicable laws.

   Additional verification documents may be requested before approving such transactions.

9. Refunds

   Refunds, where approved by The Purchase House, shall be processed in accordance with the applicable Refund & Cancellation Policy.

   Approved refunds shall be credited through the original mode of payment after applicable deductions, if any.

   Refunds shall not be processed in cash.

   The applicable refund processing timeline may vary depending upon the payment service provider or banking institution.

10. Order Cancellation

    Cancellation requests shall be subject to The Purchase House applicable Cancellation Policy.

    Once an order has been confirmed and processing has commenced, cancellation may not be permitted or may be subject to applicable cancellation charges, unless otherwise approved by THE PURCHASE HOUSE.

11. Ownership of Goods

    Ownership of the purchased Asset shall transfer to the Buyer only after:

    • Successful receipt of the full payment by The Purchase House;
    • Completion of all required documentation, where applicable; and
    • Fulfilment of all payment obligations.
12. Payment Security

    The Purchase House uses secure payment gateways and commercially reasonable security measures to process online payments.

    However, The Purchase House shall not be liable for any interruption, technical error, unauthorized banking transaction, cyber incident, or payment gateway failure beyond its reasonable control.

13. Limitation of Liability

    The Purchase House acts as a marketplace facilitating industrial transactions between Buyers and Sellers.

    The Purchase House liability relating to payments shall be limited to the amount actually received by The Purchase House for the respective order.

    Under no circumstances shall The Purchase House be liable for any indirect, incidental, consequential, or special damages arising from payment delays, banking issues, third-party payment gateway failures, or events beyond its reasonable control.

14. Changes to Payment Terms

    The Purchase House reserves the right to amend, modify, or update these Payment Terms & Conditions at any time without prior notice.

    Any revised Payment Terms shall become effective immediately upon their publication on the Platform.

15. Governing Law

    These Payment Terms & Conditions shall be governed by and construed in accordance with the laws of India.

    Any dispute arising out of or relating to these Payment Terms shall be subject to the exclusive jurisdiction of the competent courts at Nashik, Maharashtra.

16. Shipping & Delivery

    Shipping, transportation, loading, unloading, lifting, and related logistics shall be the responsibility of the Buyer or Seller, as mutually agreed between them.

    Upon request, The Purchase House may assist in arranging transportation through third-party service providers for the convenience of the Buyer or Seller. However, The Purchase House acts only as a facilitator and shall not be responsible or liable for any delay, damage, loss, or other issues arising during shipping, transportation, loading, unloading, lifting, or delivery of the purchased Asset.