Buyer grants Seller a security interest in all Products sold hereunder and to all products now or hereafter acquired by Buyer from Seller, and to any proceeds thereof, until the purchase price and any other amounts due to Seller have been paid in their entirety. Buyer hereby authorizes Seller to prepare and file any financing statement listing the Products as collateral and to file any such financing statement in such filing offices as the Seller may deem appropriate. Buyer further agrees promptly to execute any other documents requested by Seller in order to protect Seller's security interest. Upon any default by Buyer of any of its obligations to Seller, Seller shall have all the rights and remedies of a secured party under the Personal Property Security Act, which rights and remedies shall be cumulative and not exclusive.
Events of Default
Buyer shall be in default under this agreement upon the happening of any of the following events or conditions:
- default by Buyer on payment of any installment, invoice, bill or any other indebtedness or obligation now or hereafter owed by Buyer to Seller,
- default in the performance of any obligation, covenant or liability contained in this agreement or any other agreement or document between Buyer and Seller,
- any inaccuracy with respect to any warranty, representation or statement made or furnished by Buyer,
- dissolution, termination of existence, insolvency, business failure, or discontinuance of Buyer's business or the appointment of a receiver for any part of the property of, or assignment for the benefit of creditors by, Buyer or the commencement of any proceedings under any bankruptcy reorganization or arrangement laws by or against Buyer or the attachment, levy, seizure or garnishment of any of Buyer's property, rights, assets (contingent or otherwise) including the Products, or
- any change in control of the ownership or management of Buyer, unless prior to the occurrence of such change of control Seller shall have been notified in writing and Buyer shall have obtained Seller’s prior written approval to such change in control.
Remedies of Seller
- In General. Upon the occurrence of any event of default or any time thereafter, Seller may, at its option and without notice to Buyer, exercise one or more of the following remedies as Seller, in its sole discretion, shall elect: (1) declare immediately due and payable all outstanding invoices under this or any other contract and demand or, without demand, sue for amounts then due or thereafter accruing under this invoice or under any other invoice, bill or other document evidencing Buyer's indebtedness to Seller, (2) suspend deliveries as to any or all Products, (3) take possession of the Products wherever found and for this purpose enter upon any premises of Buyer and remove the Products, without court order or other process of law, without any liability for damages, suit, action or other proceeding by Buyer as a result of such entry and/or removal, (4) cause Buyer, at its expense, to promptly return the Products to Seller in good, like-new condition, (5) sell the Products, or any part thereof at public or private sale (for cash or credit) at such time or times as Seller shall determine, free and clear of any rights of Buyer, and if notice thereof is required by law, any notice in writing of any such sale by Seller to Buyer not less than ten (10) days prior to the date thereof shall constitute reasonable notice thereof to Buyer, and (6) exercise any and all rights accruing to Seller under any applicable contract or law upon a default by Buyer, including all rights and remedies accorded to sellers or secured parties under the Personal Property Security Act.
- Mitigation of Damages. Should Seller repossess any of the Products because of Buyer's default, Seller may make a commercially reasonable effort to sell such Products at a reasonable price to a third party, provided, however, that Seller shall have no obligation to actively seek out and solicit potential third party Buyers for said Products.
- Collection Costs. In the event of any default on the part of Buyer hereunder, Buyer shall pay any and all collection costs, including reasonable attorneys' fees and costs, incurred by Seller.
- Rights and Remedies Not Exclusive. No right or remedy conferred upon or reserved to Seller by this agreement shall be exclusive of any other right or remedy provided herein or by law. All rights or remedies conferred upon Seller by this agreement and by law shall be cumulative and in addition to any other right or remedy available to Seller.
Hardware Return Policy
Most hardware products can be returned for credit if reported within 25 days of order receipt and are subject to a 25% restocking fee. Products being returned for credit must be in original packaging with all accessories and be over-boxed before being returned. Returned product box must be clean and undamaged, with no marks of any kind. Original product box being returned must not be defaced with writing, stamps or shipping labels. OCR does not accept returns of print heads, barcode printers, printer media, software or any Apple products. In the event that the previous requirements are not met, items will be returned to customer and no credit will be issued. Customer is responsible for freight costs when returning product. All items purchased cannot be returned unless an RMA number is issued. To receive a RMA number please call customer service at 905‑475‑5505.
Hardware equipment such as barcode scanners, wireless devices, terminals and printers come with a one year parts and labour all inclusive warranty which covers any defects in material under normal use. Accessories such as cradles, cables, holsters, and batteries come with a 30 day warranty for defects under normal use. For any special warranty periods please refer to the product description above. All servicing is conducted on depot basis from our premises at Markham, Ontario. We also offer extended warranties, if this option is not listed on this quotation please enquire for pricing if you are interested.