Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (7645)	12/19/1997 10:45:00 PM
From: Steve Rubakh	Respond to of 31646

125 sites. OK let's take 100 * $300000 = $ 30 mil deal. Merck, Glaxo, Eli-Lilly, Pfizer, Unilever, Dupont - # of sites? Empire State Imposes Towering Y2K Warranty New York State has finalized a Y2K warranty which will no doubt catch the eye-if not ire--of the IT supplier community. The language eliminates a warranty period, allows damages beyond those required to repair or replace a specific non-compliant product, and places the onus on vendors to assure that the date handling capabilities of newly introduced packages will seamlessly integrate with the customer's existing environment. While similar at the start to the Federal Government's standard warranty, the New York version begins to diverge substantially by its second sentence: "Vendor warrants that Product(s) furnished pursuant to this Agreement shall, when used in accordance with the Product documentation, be able to accurately process date/time data (including, but not limited to, calculating, comparing, and sequencing) from, into, and between the twentieth and twenty-first centuries, and the years 1999 and 2000, including leap year calculations. Where a purchase requires that specific Products must perform as a package or system, this warranty shall apply to the Products as a system." Breaches go beyond repair or replace remedies. The new warranty notes that, "In the event of any breach of this warranty, Vendor shall restore the Product to the same level of performance as warranted herein, or repair or replace the Product with conforming Product so as to minimize interruption to Authorized User's ongoing business processes, time being of the essence, at Vendor's sole cost and expense. This warranty does not extend to correction of Authorized User's errors in data entry or data conversion." The language also includes a provision which states, "Nothing in this warranty shall be construed to limit any rights or remedies otherwise available under this agreement." While vendors may attempt to limit their liability to the amount paid for a particular product, the New York provision opens the door to consequential, special or indirect damages, such as those which might cover lost time in reprogramming, lost revenue or other costs. While "duration" in the standard federal warranty is limited to either the vendor's standard performance period or 90 days, whichever is longer, the New York language pushes the supplier's liability into the ad infinitum. "This warranty shall survive beyond termination or expiration of the Agreement," the New York version insists. Language accompanying the warranty notes that a standard time limitation "requires the agency to go immediately to Year 2000 testing in order to determine compliance within the warranty period."