Lec Magnetics’s LIFETIME MAGNET GUARANTEE:

The magnetic properties of all permanent magnets installed by Ningbo LEC Magnetic Technology Co., Ltd. (LEC Magnetics or LECMAG) as component of a magnetic product, or sold by LECMAG as a separate product, are guaranteed to the original purchaser for the life of the product. There should be no substantial loss of magnetism as long as the product or the magnets are used in a proper manner and for designed and intended purposes. Loss of magnetic strength due to abuse such as overheating, physical shock, electrical charge, or exposure to moisture or corrosion is exempted from the lifetime guarantee. Determination of occurrence of such abuse as a cause of any magnetic strength loss shall be within the sole discretion of LEC Magnetics.

LECMAG™ ONE YEAR LIMITED WARRANTY:

We want our products to exceed your expectations. To support this objective, LEC Magnetics warrants its manufactured products and equipment to be free of defects in material and workmanship, and to conform with originally quoted specifications, and specifications for fit of printing cylinders and bases to customer-owned printing equipment, for ONE YEAR from the date of shipment to you. Particular terms of the ONE YEAR warranty are:

a) LEC Magnetics will make corrections or remediation in response to the purchaser’s claims under the terms of this warranty by replacing any defective parts or, at LECMAG™ option, by making repairs or adjustments to any defective parts when the Purchaser does each of the following:

The Purchaser provides written notice to LECMAG of the claimed defect, the notice specifying the products serial number (when applicable) and date of purchase. The notice must be received by LECMAG within one year of product receipt.

The Purchaser returns the part(s) or equipment which are the subject of the claim to the appropriate LEC Magnetics prepaid, for inspection and verification of defect.

The Purchaser accepts shipment of any replacement part(s) from the location designated by LECMAG.

b) The one year warranty is limited to the replacement of defective parts. LEC Magnetics reserves the option to provide replacement parts, whether mechanical, electrical, or electronic, that are new, or remanufactured parts tested to be equivalent to new parts in fit and function. Replacement of a part under warranty does not extend the original warranty term. The Purchaser is responsible for any incidental expenses related to installation and/or adjustment of replacement parts unless otherwise agreed to in writing by LECMAG.

c) The LEC Magnetics one year warranty does not apply to products or parts damaged or made inoperable due to abuse, improper maintenance or repairs, misapplication, incorrect adjustments, exposure to corrosive or abrasive materials, or any modification or alteration affecting the operation of the unit which is not authorized in writing by LECMAG. Determination of such causes of abuse or damage shall be within the sole discretion of LECMAG.

d) HSMAG Permanentmagneti will not be liable beyond purchase price for any incidental or consequential damages caused by any defect in its products. Under no circumstances will LEC Magnetics’s liability exceed the purchase price of the product(s) furnished.

e) Components not manufactured by LECMAG, including items such as motors, reducers, and bearings, will only be covered by other manufacturers’warranties, if any.

f) Wear items such as conveyor belts and flexible dies are not covered by the LEC Magneticst one year warranty.

g) The LEC Magnetics one year warranty, in combination with the lifetime warranty on magnetic properties, are in lieu of all other warranties, expressed or implied, including warranties of merchantability and fitness for a particular purpose.

h) Extended warranties for specific products may be available at additional cost. Please inquire. This one year limited warranty shall not be modified except upon issuance in writing of such extended warranty.

i) The LEC Magnetics one year limited warranty extends only to the original Purchaser and is non-transferrable.

j) LEC Magnetics MAKES NO OTHER WARRANTIES EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARANTIES OF MERCHANTABLITY AND FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO PRODUCTS PURCHASED BY THE PURCHASER.