Page 2 - TD 2020-2021 March2021

GENERAL SELLING CONDITIONS

1. Belco Resources Equipment Division hereinafter referred to as “Company”.
2. Dealers’ accounts must be current and in good standing to participate in the Company Order Program.
Accounts in default at any time during the program can forfeit program benefits, including discount levels,
terms, price protection, free freight and eligibility in other programs.
3. Prior to full payment to Company of the purchase price, Dealer shall have no right to sell or dispose of any
goods shipped under the order except for value received in the ordinary course of retail trade and then
only upon the express condition that before delivery to a customer Dealer shall secure full settlement from
his customer and the proceeds of such resale, whether in cash, property, or an obligation of the customer,
shall be deemed to be the property of Company in lieu of goods so sold by Dealer and shall be held in trust
for Company and subject to its order.

4. Company Order Program begins August 1st of each year, discounts and terms are not retroactive to prior
shipments.

5. Dealers’ existing level and discounts are no longer in effect as of August 1st. Participation in the Belco
Resources Order Program is required to determine discounts.
6. All products are due for payment when sold, or at the final invoice due date, which-ever occurs first.

7. Past Due accounts are only eligible for Trade Discount. All other discounts will be forfeited.
8. Dealer will allow Company’s representative to enter his premises at any reasonable time to inspect and
inventory any goods shipped under all orders for which he is indebted to Company.
9. Dealer is not Company’s agent in any respect and is not authorized to incur any obligations or make any
promises or representations in its behalf.

10. Company will make every effort to ship the goods on or before the date fixed by Dealer in this order, but
shall not be liable to Dealer for any damage on account of any delay in shipment or nonfulfillment of this
order after acceptance, because of fire or other elements, war, riot, strikes or labor disturbances, shortages
of material or labor, any law decree or order or any court, government or governmental agency, or if the
demand for any goods shall exceed the available supply, or from any other cause beyond Company’s
reasonable control. The Company reserves the right to revoke this order and all orders taken under same
at any time without liability for loss or damage.

11. Company shall not be liable to Dealer for any damages for delay due to shipment of goods by other than
the specified route or for any other cause whatsoever except that Company shall be liable for shortage in
shipment other than those occurring while in the hands of a carrier provided that all claims for such
shortage shall be made by Dealer within ten days after the receipt of the goods by him.
12. Company may, without any right accruing to Dealer, make changes in specifications, construction or
designs of its products at any time in such manner as it may consider necessary or advisable and any
products so changed shall be accepted by Dealer as standard construction in fulfillment of this order.
13. The only warranty applicable to the goods ordered herein is Company’s standard written warranty hereby
made a part of this order.

14. All rights, duties, obligations and liabilities hereunder shall be governed by laws of the State of North
Carolina, U.S.A. It is understood, however, that this is a general form of order and that any provisions
herein which may in any ways be illegal or void under the laws of any state, province, or other jurisdiction,
in which this contract is being enforced shall be deemed not to be a part of this order therein.