Speedgrip Chuck Company guarantees its equipment to be free of material and workmanship defects and guarantees that such equipment will operate as designed at the time of quotation and customer approval of engineering drawings. If the performance of Speedgrip equipment is deemed unsatisfactory, Speedgrip will be given the opportunity to revise or rework the equipment in order to improve performance to the agreed standards. If Speedgrip Chuck Company and the customer mutually agree the equipment is not capable of satisfactory performance against the original engineering and design standards, then the equipment will be returned to Speedgrip and a full credit will be issued. This warranty excludes all perishable parts such as collets, work stops, draw screws, pullers, springs and seals. Damage resulting from misuse or machine wrecks will not be covered. The warranty coverage is limited to the original selling price of the equipment. Final evaluation must be made within 60 days of receipt of the equipment.