Description

PART 1-DEFINITIONS

For the purpose of this Policy and the Schedule and any endorsements, the following definitions apply:

1. i) Products means the Insured Electrical and/or Electronic products described in the Schedule below or product specifications of the purchased product.
2. ii) Purchaser/Owner of Products means the purchaser/owner of the products as mentioned in the Extended Warranty Certificate/Invoice. Purchase implies acceptance of the terms and conditions of the extended warranty

iii) Components and Parts means components and parts which are incorporated in the Products by the Product Manufacturer.

1. iv) Mechanical/Electrical/Electronic Breakdown means the breaking, natural deformation or burning out (electrical) of any parts of the Insured Product arising from natural use of the product, electrical or electronic defects causing sudden stoppage of their functions, necessitating repair or replacement.
2. v) Original Manufacturer’s Warranty means the warranty provided by the product manufacturer / supplier of the Insured Product as detailed in the Limited Warranty document, which forms part of this contract and is available here – https://akriti.tech/limited-warranty/ . It shall exist for a period of 1 year from the date of delivery of the product to the customer location.
3. vi) Extended Warranty Period means the period specified in the period of cover. The manufacturer will repair / replace the defective parts by travelling in person or through an authorized agent, for the insured product, during the applicable period of Extended Warranty. Extended Warranty Period of this warranty will be considered complete upon completion of 1 full year from the date of purchase.

vii) Limits of Liability means the maximum number of replacements the company will make in total of all claims in aggregate which may arise during the Extended Warranty Period up to and not exceeding the sum insured as stated in the Extended Warranty Certificate or Invoice. The sum insured is the retail price of the parts included in the fully built product at the time of purchase.

1. ix) Authorized Repair Agents Any agent(s) appointed by the Company as an Authorized Repair Agent to service/repair the Insured Product, and they may change from time to time without prior notice.
2. x) APSPL / Company – Refers to “Akriti Precision Systems Private Limited” i.e. the manufacturer.
3. xi) Shipping – Courier of replacement component(s) within India.

xii) Year – A year is defined as a period of 365 consecutive calendar days from the date of purchase of this warranty, 366 days in case of a leap year.

xiii) Remote – Replacement Parts will be shipped to the customer location for self-repair and detailed removal & installation instructions shall be provided.

xiv) APSPL – Akriti Precision Systems Private Limited / Akriti Precision Systems Limited (US Company)

PART II-CONDITIONS

 

1. CLAIM PROCEDURES

1.1 All replacements may be undertaken or commenced under the terms of this contract without approval, if the parts or parts cost are not being claimed from APSPL

1.2 Any repair / replacement claim must be supported with the relevant information. e.g.  Product Serial Number, copy of Warranty Document (pdf / scanned copy of original)

1.3 The Company reserves the right to examine the defective part or component remotely / virtually or in person and subject it to independent assessment / testing if required. The company may also ask for videos, images and other forms of information to confirm existence of defect before issuing replacement.

1.4 The Company shall ship replacement parts to the customer location followed by communication of detailed repair / replacement instructions over email / whatsapp / telegram / social media / any other effective means of communication as the company deems fit. Any repairs performed prematurely without the written consent of the manufacturer will void this extended warranty & the manufacturer’s warranty instantly.

1.5 The Company reserves the right not to carry out work under the terms of this contract if any of the conditions specified has not been complied with or if the claims are not due to the defective material or the defect has been caused due to unnatural usage of the product.

1.6 Within a One-year period a maximum of 1 Major Components and a maximum of 2 Minor Components or 3 Minor Components in total, defined in the Schedule below can be replaced, with no more than 2 parts in any given 6 months period.

1.7 The company also reserves the right to replace the parts with either Original or Refurbished parts as it deems fit. The decision of the company shall be final in this regard.

1.8 If the cost of replacement exceeds the price of this extended warranty at any given point in time, then the company shall repair the parts instead of replacement. Parts shall be shipped at cost to the company.

2. JURISDICTION

2.1 The applicable law for our contract of insurance or reinsurance shall be the laws of India (City of Bengaluru, Karnataka) & associated regulatory frameworks including arbitration.

3. TRANSFER

 3.1 This contract can be transferred to another purchaser with the due written consent of the transferor and with proactive communication to the Company by sending an email to support@akriti.tech or contacting us through the different communication mechanisms notified on the manufacturer’s website https://akriti.tech

3.2 The Extended Warranty contract has no refundable value and shall expire on the completion of 1 full year from the date of first purchase. Extensions are permissible up to a maximum of 6 full years from the date of manufacture, called the Manufacture Date. All extended warranties shall expire within 3 months of exceeding this period regardless of when it was purchased. It will be the obligation of the manufacturer to proactively communicate the Manufacture date when offering this warranty for sale.

4. PURCHASER’S DUTY AND RESPONSIBILITY

4.1 In the event of any occurrence which might give rise to a claim under this contract, the buyer shall:

1. a) take all reasonable steps within his power to minimize the extend of the loss or damage;
2. b) preserve the parts affected and make them available for inspection by a representative of the Company, in person or virtually;
3. c) furnish all such information and documentary evidence as the Company may reasonably require to fulfill its obligations under this contract.
4. d) ship the defective part(s) at cost to the company, at the address communicated specifically for this purpose or hand it over to the company’s agents as the case may be, only upon receipt of communication from the company. The company shall not reimburse any shipping costs if it no communication was sent or consent was not given.
5. e) All claims must be filed in the claim management system communicated by the company or available on the website https://akriti.tech/support

5. COMPANY’S RIGHTS & DUTIES

5.1 The Company shall have the right to request information virtually, physically or even request for defective parts to be returned for assessment prior to replacement.

5.2 It shall be the company’s duty to proactively communicate 7 days in advance, with all customers, any changes to the Manufacturer’s or any Extended Warranty Terms & Conditions.

6. RECORDS KEEPING

6.1 The insured shall keep proper records of all Purchases, Warranty Documents, Incidents requiring Repairs / Replacement and this must include the following:

1. a) Verifiable Receipts of Purchase of product or Warranty
2. b) Clear & Legible Documents showing clearly the Insured Product Details and its serial number
3. b) Any other document sent with the product, that is required to establish ownership

7. NOTIFICATION OF SALVAGE AND DISPOSAL

7.1 Upon replacement of the damaged Insured Product by a new item, any salvage shall become the property of the Company to dispose of as it deems fit and for its own benefit.

8. TIME LIMIT

8.1 In the event of a customer requesting a claim, any inaction from the customer’s end for information requested, for a period of 7 days from such claim date will invalidate the said claim and a fresh claim would be required to proceed.

8.2 No Claims can be filed within 15 days of purchasing the claim.

PART III – EXCLUSIONS

This Contract does not cover any damage caused by or contributed to or arising out of or in consequence of:

(a) Normal routine maintenance, cleaning, lubrication, adjustments or alignment performed by the customer.

(b) Problems or defects caused by unauthorized use or modifications, or failure to follow the operation or maintenance instructions within the limits defined in the manuals or technical documents of the respective parts.

(c) Damage caused by repair conducted beyond the norms specified or provided by the Company for any and all parts used by the customer.

(d) Problems or defects due to lack of maintenance obligated on the customer as required by the manufacturer.

(e) Any problems or defects not covered by manufacturer’s warranty including operating the machine beyond the mechanical, temperature, electrical and environment specified by manufacturer.

(f) Damage by fire, theft, burglary, accident, neglect, misuse, or abuse.

(g) Acts of nature including but not limited to earthquake, storm or tempest (wind/water), sand, water, flood, rising water, lightning, malicious damage, aircraft, vehicle impact, corrosion, power outages or surges, inadequate or improper voltage, or current, animal or insect infestation and any other act that might be construed as an Act of God.

(g) Normal wear and tear items not integral or necessary to the functioning of the products or routine service, or if the wear and tear on the part has exceeded the field tolerances allowed by the Manufacturer(s).

(h) Any defects which are subject to manufacturer’s recall or which are covered under a manufacturer’s program for replacement or reimbursement.

(i) Breakdown caused by computer virus or realignment of products. Defects resulting directly and/or indirectly from software installation and removal are also excluded.

(j) Transportation damage, claims can be made through the insurance company chartered during its journey.

(k) Products with removed, tempered or altered serial numbers and /or warranty seal.

(l) For Claims that are false or fraudulent or intentionally exaggerated.

(m) service or parts to correct problems resulting from the use of attachments, accessories, or alteration not conforming to manufacturer.

SCHEDULE

Major Parts

• Spindle – Spindle Motor bundled with the CNC
• Controller – Custom
• VFD – Variable Frequency Drive bundled
• SMPS – Power Supply
• Stepper Motors – More than one Stepper Motors requiring replacement at a time
• Stepper Drivers – More than one Stepper Drivers requiring replacement at a time
• Mechanical / Composite Parts –

 

Minor Parts

• Stepper Motors – Single motor requiring replacement
• Stepper Drivers – Single driver requiring replacement
• Controllers – Arduino
• Couplers – All
• Limit Switches – All
• Emergency Stop Button
• Other electrical or mechanical parts (including Composite Parts)

Applicability – Only when purchased for a fully assembled CNC product manufactured and sold by Akriti Precision Systems Private Limited or Akriti Precision Systems Limited at the time of purchase or later within 6 years from the date of manufacture.

 

THIS LIMITED WARRANTY IS APPLICABLE IN INDIA ONLY AND MAY BE ENFORCED WHERE APSPL OR ITS AUTHORIZED REPAIR AGENTS OFFER WARRANTY SERVICE SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THIS LIMITED WARRANTY. HOWEVER, WARRANTY SERVICE AVAILABILITY AND RESPONSE TIMES MAY VARY FROM CITY TO CITY AND MAY ALSO BE SUBJECT TO REGISTRATION REQUIREMENTS.

* A signed and stamped warranty document shall be provided on email and mailed through post as well.