provisions on the quality guarantee period of mining equipment

Warranty law in supply contracts in England and Wales

(i.) goods are of satisfactory quality. Goods are of satisfactory quality if they meet the standard which a reasonable person would regard as satisfactory, taking account of: (a) any description; (b) the price; and (c) all other relevant circumstances; (ii.) where goods are sold by description, that the goods will correspond to that description;

Texas Construction Law Blog

The AIA A201, for example, contains a typical warranty provision, which states: The Contractor warrants to the Owner and Architect that materials and equipment furnished under the Contract will be of good quality and new unless the Contract Documents require or permit otherwise.

CMS Expert Guide to warranty law in supply …

A material defect exists when the goods do not comply with the agreed quantity, quality or specification at transfer of risk. If the parties have not agreed that the goods should meet a specific quality or specification, …

STANDARD PROCEDURE FOR GRANT OF EQUIPMENT …

DGMS (Legis) CIRCULAR No. 1 OF 1993. Vide GSR 31 and 279, published in the Gazette of India, Part II, Section 3(I), Dated 18 th January, 1992 and 6 th June, 1992 respectively, The Director General of Mines Safety, in suppression of all notifications on the subject has specified that the following appliances/ equipment/ machinery are required to be …

(PDF) A critical review of the impact of South Africa's mine …

Background: Most mining operations are viable for a period of 30 years, depending on the mineral extracted and the available reserves. Whilst the expectation is that mines will continue ...

Warranty Clauses in Construction Contracts: Avoiding Claims

12.2 All of Contractor's warranties and guarantees set forth in this Article 12 shall begin as of the Effective Date hereof and shall extend for a period of eighteen (18) months after Final Acceptance (the "Warranty Period"); provided, however, that in the event of a termination for convenience pursuant to Article 16 hereof, or a ...

Warranty Obligations in ASC 606

The standard warranty period on sales of our capital equipment is generally one year. These standard warranties are assurance-type warranties under ASC 606-10-55-30. In addition, we sell extended warranty (stand ready) service contracts for a period of one to three years. ... It should recognize revenue ratably over the two-year warranty period ...

Strategic Professional – Essentials SBR – INT

(ii) how to calculate the net realisable value of the coal inventory, including the low quality coal. (7 marks) (b) At 30 November 20X6, the directors of Fill estimate that a piece of mining equipment needs to be reconditioned every two years. They estimate that these costs will amount to $2 million for parts and $1 million for the labour

Five Key Considerations for Drafting Warranty Terms in …

Owners and contractors frequently negotiate the warranty terms in their engineering, procurement, and construction (EPC) agreements for alternative energy …

MINE CLOSURE AND REHABILITATION IN SOUTH …

a phenomenon whereby mining assets are transferred to successively more marginal operators as mineral reserves are depleted. This results in an ever-decreasing likelihood of proper mine closure and rehabilitation. Another practice that defers closure and enables avoidance is the tendency towards "perpetual mining". In this instance, mines are

How to Advance Sustainable Mining | International Institute …

Paragraph 46 of the JPOI called on governments to: (a) support efforts to address the environmental, economic, health, and social impacts and benefits of mining, minerals, and metals, including workers' health and safety; (b) enhance the participation of stakeholders to play an active role throughout the life cycles of mining operations ...

Guarantee Period Goods Bought in the EU

The two-year guarantee period starts as soon as you receive your goods. ... by showing that the defect is due to the poor quality of materials used. The guarantee period is put ´on hold´ for the time it takes for the article to be repaired or replaced. ... the remaining guarantee period is valid for the new article, with the provision that if ...

Subpart 246.7

(1) Use a clause substantially the same as the basic or one of the alternates of the clause at 252.246-7001, Warranty of Data, in solicitations and contracts that include the clause at 252.227-7013, Rights in Technical Data and Computer Software, when there is a need for greater protection or period of liability than provided by the inspection and warranty …

Contractor Warranties: What California Contractors Need to …

Mandatory Warranties: Contractors in California are obligated to provide warranties on their work, such as a 4-year warranty on installed items, a one-year warranty on the fit and finish of certain areas, and a guarantee against defects in compliance with building codes and manufacturer requirements .

Five Key Considerations for Drafting Warranty Terms in …

This article highlights five key issues that parties should consider when negotiating warranty terms. 1. Scope and Length of Warranty. Project owners and contractors must first determine the scope and length of the warranty. Most EPC agreements include a one-year warranty that covers the design, construction and …

CONSTRUCTION WARRANTIES and GUARANTEES

8.5 The Contractor warrants to the Owner and Architect that: (1) materials and equipment furnished under the Contract will be new and of good quality unless otherwise required or permitted by the Contract Documents; (2) the Work will be free from defects not inherent in the quality required or permitted; and (3) the Work will conform …

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According to the PRC custom regulations,the import duty on service parts should be waived within the warranty period if the equipment was legally imported to China.The Buyer shall provide a copy of the following document to the Supplier within the stated time in order to obtain this waiver: ... within the period of claim or quality guarantee ...

Contractor Warranty vs. The Correction of the Work Provision…

During the one-year period for correction of Work, if the Owner fails to notify the Contractor and give the Contractor an opportunity to make the correction, the Owner waives the rights to require correction by the Contractor and to make a claim for breach of warranty." This one-year correction period is becoming notorious in the construction ...

30 CFR Part 780 -- Surface Mining Permit …

This part provides the minimum requirements for the Secretary's approval of regulatory program provisions for the mining operations and reclamation plan portions of …

Sales Warranties

Sales warranties. With the introduction of IFRS 15 Revenue from contracts with customers the treatment of sales warranties starts in IFRS 15, to end in certain circumstance in IAS 37 Provisions, Contingent liabilities and Contingent assets. So read this to learn on the decisions to be made! Sales warranties. Retails goods are frequently …

Equipment Warranty Period Sample Clauses

Equipment Warranty Period. Seller's "Warranty Period" is (a) 365 days after shipment to Buyer where Buyer is the end-user of the Equipment. The Warranty Period shall not be extended or otherwise modified as a result of the repair or replacement of any non-conforming Equipment or its components.Buyer-supplied and/or Buyer-specified (or …

Mining

Regulatory frame work. Rwanda Development Board: Investment process, guidance, facilitation, leading negotiations for strategic projects, issuing EIA, and providing incentives Rwanda Mines Board: Designing Policy and strategies, Issuing of Mining and Quarry licenses, laws and regulations elaboration and supervision and Promotion of mining …

GLOBAL MINING GUIDE 2020

What Manufacturers Need to Know about Express …

This has occurred even though cars and trucks have generally become more reliable and dependable.[1] But the Song-Beverly Act extends well beyond just cars and trucks; it applies to any product that is used, bought, or leased for personal, family, or purposes, ranging from cars/trucks, recreational vehicles, and boats to …

IS 14567 (1998): Winding in mines

Guideline [MED 8: Mining Techniques and Equipment] IS 14567 : 1998 Indian Standard WINDING IN MINES - DESIGN OF CAGES - GUIDELINES ICS 55.200 I3 U R E A U OF INDIAN,STANDARDS h4ANAK BHAVAN, '3 BAHADUR SHAH ZAFAR MARC; ... These provisions shall be duly taken care of during the design of the cages or other means of …

43 CFR Part 3800 -- Mining Claims Under the General Mining …

Under the 1872 Mining Law (30 U.S.C. 22 et seq.), a person has a statutory right consistent with other laws and Departmental regulations, to go upon the open (unappropriated and unreserved) public lands for the purpose of mineral prospecting, exploration, …

THE IMPLIED WARRANTY IN TERMS OF THE CONSUMER PROTECTION ACT

THE IMPLIED WARRANTY IN TERMS OF THE CONSUMER PROTECTION ACT

Subpart 46.7

Learn about the purposes, criteria, authority, limitations, and terms of warranties in Government contracts. Find out how to use warranty clauses to protect …

Provision for Warranty | Journal Entry | Example

Also, the company honored warranty contracts on 45 products at the total cost of $2,700 during 2022. What are the journal entries for warranty in the above transactions? Solution. In order to account for the obligation that occurs as a result of the warranty given, the company ABC can calculate the estimated provision for warranty as below:

How do construction firms account for warranty reserves …

Introduction to Warranty Accounting in Construction In the construction industry, warranty accounting is a critical financial practice that ensures a business can account for future costs associated with warranty claims. Construction entities guarantee their work and materials for a specific period, creating a potential liability that must be …

Mining Laws and Regulations Ghana 2024

4.1 What types of entity can own reconnaissance, exploration and mining rights? Generally, only companies incorporated under the Companies Act, 2019 (Act 992) or partnerships incorporated under the Incorporated Private Partnerships Act, 1962 (Act 152) or any other enactment in force for the time being are granted rights to undertake …

Stabilisation Provisions in Long-Term Mining Agreements

The sensitivities surrounding the enforcement of a stabilisation provision also mean that most proceedings are conducted confidentially, so there are few publicly available awards discussing an ...

Australian Consumer Law fit for purpose: A deep dive

While the fit for purpose provision is robust, there are limitations to its application. These include: Unreasonable Use: The fit for purpose guarantee does not apply if the consumer's use of the goods is unreasonable. If the consumer uses the goods in a way that exceeds what is normal or foreseeable, the fit for purpose guarantee may …