Tooling specifically charged to Buyer will be held by C.V. Plastics for the exclusive use of the Buyer. Buyer cannot remove this tooling from C.V. Plastics premises.
This tooling will be kept in good condition for production, reasonable wear and tear expected. Charges will be made for repairs to tooling necessitated by production beyond their normal, useful life. Tooling charged to the Buyer is the property of the Buyer and is not insured by C.V. Plastics against risk or loss due to fire or other such damage.
If C.V. Plastics deems that the manufacture of the product is such that, in spite of C.V. Plastics best efforts, the tooling produced may not be capable of attaining or sustaining production of a functional product, C.V. Plastics will accept a contract for that tooling only on the Buyer’s guarantee that the contract will be paid in full regardless of the results.
Any failure by C.V. Plastics to insist upon a strict performance of any of the terms and conditions herein shall not be deemed a waiver of any rights or remedies that C.V. Plastics may have, and shall not be deemed a waiver of any subsequent breach of default in the terms and conditions herein contained. No provision of this agreement shall be deemed to have been waived by C.V. Plastics unless such a waiver is in writing and signed by an officer of C.V. Plastics.
C.V. Plastics responsibility is limited to the value of the goods shipped.
Ownership of the goods remains with C.V. Plastics and will only pass onto the Buyer upon full and final payment of the invoice.