AGREEMENT

SUBHASH SHARMA (Querist) 27 May 2011 This query is : Resolved
WE HAVE (ABC LTD) SENT A MACHINERY TO A CUSTOMER ON DEMONSTRATION PURPOSE FOR 2 -3 DAYS HAVING MACHIERY VALUE OF RS. 50 LACS.

HE HAS PREPARED A AGREEMENT ON OWN COMPANIES LETTER HEAD.

IN CASE MACHINERY DEMAGE 100% ON THE SITE OF CUSTOMER.

1. CAN WE FILE A CLAIM AGAINT THE
MACHINERY TO GET THE CLAIM.
2. CAN WE RECOVER AMOUNT OF LOST OF
MACHINERY FROM THE CUSTOMER.
3. CAN WE FILE A CLAIM WITH INSURANCE
COMPANY.

PLEASE ALSO CONFIRM AGREEMENT SHOULD BE PREPARED ON STAMP PAPER PAYING THE STAMP DUTY OR NOT.

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Dhiren Akbari (Expert) 09 November 2011
Dear Mr. Sharma, you should have some standard documents for this kind of transactions wherein the risk and responsibility may be shifted to the customer for the period starting from the day of journey from your factory till it reaches back to the factory. suitable insurance policy should be taken covering the risk associated in the transactions. agreement should be executed on stamp paper for the value depending on the state in which agreement is executed

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