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Product Testing Loan Agreement

Complete your loan details and product schedule for testing and evaluation. The products remain TecSmarts property and there is no obligation to purchase.

TecSmarts Ltd

138D Harris Road, East Tamaki, Auckland 2013

0800 883 328 · sales@tecsmarts.co.nz

Initial freight: NZD $15. A one-off late return fee of 10% of the recorded full selling price of each overdue item applies if it is not returned by the agreed deadline or an agreed extension. The 25% damage fee applies only as described in clause 6, subject to its limits and clause 11.

List every product and accessory, record existing marks and faults, and include photo references. Record each item’s full selling price in NZD before signing. Delivery and return are by courier or hand delivery as arranged with TecSmarts.

Before equipment is released: TecSmarts will review these details and both parties must sign the completed agreement and retain a copy. Submitting this form is a request for review and does not replace either party’s signature.

TERMS AND CONDITIONS

1 Loan purpose and ownership The supplier lends the listed products solely for the approved testing during the agreed loan period. This is a temporary loan and does not transfer ownership. The customer must not sell, pledge, hire out or lend the products to another party. Any purchase requires a separate written agreement.

2 Supplier responsibilities The supplier will provide the agreed products, disclose known defects and material testing restrictions, and supply available operating and safety instructions. Any prototype status or limits on normal use must be disclosed and agreed before handover.

3 Receipt and inspection The customer must inspect the products on receipt and promptly report missing items, visible damage or faults. Both parties should record the condition and accessories at handover. A later report of a hidden defect is not excluded by an initial inspection or signature.

4 Safe use and care The customer must take reasonable care, keep the products secure and use them only as agreed, in accordance with supplied instructions and applicable safety requirements. Only suitably trained or competent users may operate them where training or qualifications are required. Destructive testing, modification, disassembly and repairs require the supplier's prior written approval.

5 Faults and incidents If a product appears unsafe, fails or is damaged, the customer must stop using it, take reasonable steps to prevent further harm and contact the supplier promptly. The customer must not continue testing an unsafe product or arrange repairs without approval, except for reasonable emergency measures to protect people or property.

6 Loss and damage The customer is responsible for reasonable, documented direct costs of loss or damage caused by the customer's negligence, misuse, unauthorised use or breach of this agreement, including by people the customer permits to use the products. This does not include fair wear and tear, pre-existing damage, inherent defects or loss caused by the supplier. Where damage for which the customer is responsible renders a product unsellable at its full selling price, a fee of 25% of that item's full selling price, as recorded in the product schedule, will apply to cover losses incurred. This fee will be credited against any other recovery for the same damage or reduction in value. Any repair charge must be reasonable. If repair is impractical, a replacement charge must reflect the product's age, condition and value immediately before the loss. There will be no double recovery for the same loss.

7 Charges The initial freight charge and late return fee stated in the loan details apply. Delivery and return must be by courier or hand delivery, as arranged between the parties. Any additional transport cost must be agreed before it is incurred. Before requesting payment for loss or damage, including the 25% damage fee in clause 6, the supplier will provide an itemised explanation and supporting evidence and allow a reasonable opportunity to respond. Any disputed charge will be dealt with promptly through clause 12. All charges remain subject to clause 11.

8 Return and extensions The customer must return all products and accessories by the agreed deadline, reasonably clean and in the recorded condition, allowing for fair wear and tear. Use suitable protective packaging and the agreed return method. Extensions require both parties' written agreement before the deadline. The customer should retain dispatch or handover evidence. Responsibility for transit loss or damage follows clause 6 and any separately agreed carrier arrangements; the customer is not automatically responsible for a carrier chosen and arranged by the supplier.

9 Ending the loan early The customer may end the loan early by arranging its return with the supplier. The supplier may require use to stop immediately for a safety concern or recall. For a material breach, the supplier may end the loan after written notice and a reasonable opportunity to remedy it where a remedy is possible. Otherwise, ending the loan early requires mutual agreement. Both parties will agree practical return arrangements. If the supplier ends the loan without customer fault, it will pay reasonable return transport costs and refund any unused loan fee proportionately.

10 Feedback and information The customer will provide reasonable feedback about performance and any faults identified during testing. The supplier may use that feedback internally to evaluate and improve its products. It must obtain separate written consent before publishing the customer's name, logo, testimonial or identifiable testing results. Neither party may disclose information clearly identified as confidential except to people who need it for the testing, with permission, or as required by law. This does not prevent safety reporting, complaints or disclosures to advisers or regulators. Each party must handle personal information in accordance with applicable privacy law. The customer should back up and remove personal or confidential data before return; the supplier must securely handle any residual data.

11 Legal rights and responsibility Nothing in this agreement excludes or restricts any consumer guarantee or other right or remedy that cannot lawfully be excluded or restricted. The supplier remains responsible for its own acts and omissions, including negligence. The customer does not give a general indemnity or waive claims for injury, loss or damage caused by the supplier or a defective product. This agreement does not limit liability for fraud or any liability that cannot lawfully be limited.

12 Questions and disputes Raise questions or disputes with the contacts listed in the loan details. Both parties will first try in good faith to resolve the issue promptly. They may agree to mediation, without preventing either party from using any court, tribunal, regulator or other remedy available by law.

13 Changes and agreement The completed loan details, product schedule, these terms and any special terms below form the agreement. Changes require both parties' written agreement, including by email. A special term does not override clause 11 or any mandatory legal protection. Each signatory confirms that they are authorised to agree for the named party.

Loan details received

Thank you. Your details have been sent to the TecSmarts team for review. We will confirm the product schedule, condition, selling prices, return deadline and any special terms.

This is not loan approval or a signed agreement. Both parties must sign the completed agreement and retain a copy before equipment is released.

Questions? Contact sales@tecsmarts.co.nz or 0800 883 328.