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TOOLING RETENTION POLICY

Tooling required for the manufacture of products will either be supplied by the customer or purchased by Miraco and billed to the customer unless otherwise agreed to and will be handles in accordance with Miraco SOP # 10050.

Customer Supplied Materials

Miraco will inspect any customer supplied tooling to determine fit for use. Please note that it is the responsibility of the customer to repair or replace any deficient tooling. Replacement of worn tooling resulting from use by Miraco will be the responsibility of the customer unless other arrangements are previously made in writing or as handled on a case by case basis.

Any materials submitted by our customers (plates, dies, labels) without coordination with Miraco that may impact our ability for efficient manufacture may impact our original quotation. Please consult your sales representative on these specific requirements at the time of quotation to minimize any potential disruption in service.

Storage of Customer Materials

Miraco is committed to safely and securely storing current tooling and materials used for pending and ongoing manufacture of packaging products for our customers.

However, in order to prevent excess accumulation of such materials, the following retention policy is established.

The maximum storage times from the date of last manufacture for raw materials are 6 Months and for tooling (cutting, molding, testing etc) are 5 years, at which time they will be sent back to the customer, or, in lieu of a timely reply from the customer (generally 30 days), disposed of, unless other arrangements are made.

Tooling returned to the customer shall be shipped at the customer expense, by their chosen method. Additional charges may apply if special packaging or crating is required.

Release of Tooling

Miraco will not release any tooling, regardless of ownership, until all obligations are met by the parties, including payment in full of any outstanding balances.

This policy may be updated or changed at the discretion of Miraco without notice.

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