Page 15 - VIT Consultancy Policy

STANDARD TERMS AND CONDITIONS

Scope : As described in the main sheet of the order for project/consultancy work.

Payment Terms: 100% in advance by Demand Draft / Electronic Bank Transfer only.

Delivery Terms: Any component/equipment/parts and such things sent by the client to VIT shall be delivered safely
at the concerned laboratory or designated location as given by the consultant, on free- of-cost-basis. After completion
of the project/consultancy work, the items given by the client, if returnable, will be delivered by VIT on as-is-where-is
basis and as-it-is basis, in un-packed condition at the respective campus. It shall be the responsibility of the client to
collect such items within a reasonable period of 30 days from the date of intimation by VIT. In the event the items
remain uncollected, VIT reserves the right to dispose of the item/s without any reference to the client and transfer the
proceeds of any of such disposal to VIT only. The client shall have no claim on the same. VIT is not responsible for any
loss or damage in transit.

Delivery Period: The duration of the project is given in good faith by VIT and all efforts will be taken by VIT to
complete the project/consultancy work within the indicated timelines. However, VIT is not agreeable to pay any
compensation to the customer for any loss or damage, direct or consequential arising out of any delays.

Termination: The project/consultancy work may be terminated by either party by giving the other party a notice
period of 30 days. However, both parties will meet any residual obligations, if any, in connection with the project.

Liquidated Damages: VIT is not agreeable for any penalty on account of delayed delivery of the project/consultancy
work, unless otherwise agreed to specifically in writing, by VIT. Any such condition imposed unilaterally by the client
shall not apply for the consultancy work taken up by VIT on behalf of the client.

Risk Purchase: VIT is not liable for any compensation whatsoever to the client for any alternate action taken by
them on the project/consultancy work awarded to VIT unless otherwise agreed to specifically in writing by VIT. Any
such condition imposed unilaterally by the client shall not apply for the consultancy work taken up by VIT on behalf of
the client.

Force majeure: VIT shall not be held liable for any loss, damage, delay, or failure of performance, resulting directly or
indirectly from any cause, which is beyond its reasonable control of VIT.

Intellectual Property Rights (IPR): All rights pertaining to any intellectual property generated/created/invented in
the due course of the project, will be the joint property of VIT and the client. Terms and conditions regarding
transferring / assigning / selling these rights to the client shall be governed by a separate written and agreed to
document if required.

Testing and evaluation reports given by VIT will be based on work performed according to available standards and/or
open domain literature. In any event, this report may not be construed as a legal document, certificate, or endorsement
and may not be used for the marketing of the products or processes, without the prior consent of VIT. The institute
reserves the right to retain one copy of the report and use the results of the project for its internal teaching and joint
research and publication purposes.

Jurisdiction: Any disputes arising out of the project/consultancy work shall be amicably settled by VIT and the
Client. Any unsettled disputes may be subject to resolution as per the Indian Arbitration and Conciliation Act 1996 and
all legal constraints are subject to Vellore and Chennai Jurisdiction only for Vellore and Chennai campuses
respectively.

Declaration: All works undertaken by VIT, Vellore as part of the project will be carried out in good faith and based on
material/data / other relevant information given by the client requesting for the work.

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