3. DELIVERY; TITLE; RISK OF LOSS
Products will be delivered F.O.B. Cynomatic point of shipment with title and risk of loss or damage passing to Buyer at that point. Buyer is responsible for all transportation, insurance and related expenses. The related expenses shall include any taxes, duties or documentation fees. Cynomatic may make partial shipments. Any shipping, delivery and installation dates are estimated dates only. Cynomatic is not liable for any loss or expense incurred by Buyer or Buyer’s customers if Cynomatic fails to meet its delivery schedule.
4. DEFERMENT AND CANCELLATION.
Buyer has no right to defer shipment but may cancel this Agreement on thirty (30) days written notice if Cynomatic has not already performed. If Buyer cancels this Agreement, it shall pay all cancellation charges including, without limitation:
(i) the full price for any finished Product;
(ii) for partially completed product, the portion of the price determined to be due by Cynomatic based on its percentage of completion of the Product;
(iii) reasonable overhead and profit; and (iv) any payments due to subcontractors and/or suppliers for any materials, components or products ordered which cannot be cancelled, refunded, or redirected for other beneficial use.
5. TRANSPORTATION AND STORAGE.
(a) When Products are ready for shipment, Cynomatic will: (i) inform Buyer, and Buyer will then promptly give shipping instructions to Cynomatic; (ii) determine the method of transportation and shipment routing; and (iii) ship the Products with freight prepaid by normal transportation. If Buyer fails to provide timely shipping instructions, Cynomatic will ship the Products by normal transportation means to Buyer or to a storage location selected by Cynomatic. Buyer will pay or reimburse any excess transportation charges for special or expedited transportation.
(b) If Products are placed into storage, delivery occurs and risk of loss transfers to Buyer when the Products are placed on the carrier for shipment to the storage location. If the Products are to be stored in the facility where manufactured, delivery occurs and risk of loss transfers to Buyer when placed in the storage location.
Buyer will pay all Cynomatic’ storage expenses, including but not limited to, preparation for and placement into storage, handling, freight, storage, inspection, preservation, maintenance, taxes and insurance, upon receipt of an invoice(s) from Cynomatic. When conditions permit and upon payment to Cynomatic of all amounts due, Buyer must arrange, at its expense, to remove the Products from storage. Buyer bears the risk of loss, damage or destruction to Products in storage.