EUROBOLT B.V.
GENERAL The full version of the General Terms and Conditions of Delivery and Payment apply exclusively to the preparation, content and performance of all agreements entered into with Eurobolt, in which Eurobolt acts as (potential) supplier of goods and/or services. The full version of these Terms and Conditions is registered with the Chamber of Commerce at Arnhem and will be sent to you by Eurobolt at request. The term “the other party” in these Terms and Conditions means any natural person or legal entity that has entered or intends to enter into an agreement with Eurobolt.

OFFERS All offers from Eurobolt shall be completely without engagement. All specifications are based on the DIN standard and shall be given as accurately as possible, but should always be seen as an approximation only, without any obligation of conformity.

AGREEMENTS An agreement shall not become effective until it has been accepted in writing by Eurobolt, or Eurobolt commences performance of the agreement. The text of the contract and/or the order confirmation shall include the entire agreement.

PRICES The prices stated are for delivery from Eurobolt ‘s warehouse/offices (ex works). If wages or costs of production or materials should increase after the agreement has been concluded, Eurobolt shall be entitled to charge such increases on to the other party. Unless stated otherwise, all prices are in Euro. Exchange rate fluctuations shall be charged on to the other party.

CANCELLATION In the event that the other party wishes to cancel the agreement, Eurobolt shall be entitled to charge 15% of the agreed overall price as cancellation costs. Eurobolt reserves the right to claim compensation in full for all losses of capital and other losses. Eurobolt shall never be obliged to accept a cancellation.

DELIVERY All deliveries shall be from Eurobolt ‘s warehouse/offices (ex works). The terms of delivery stated have been estimated as accurately as possible, and Eurobolt shall make every effort to comply with them; however, they should only be regarded as approximate.

TRANSPORT All transport shall be at the risk and expense of the other party. The means of transport, transporter, packaging and route shall be determined by Eurobolt in its best estimation, unless the other party has given explicit instructions in this respect.

FORCE MAJEURE Upon the occurrence of circumstances which are beyond the control of Eurobolt or make the normal performance of the agreement impossible or unreasonably onerous, the parties’ obligations to one another shall be suspended until such circumstances no longer exist.

RETENTION OF TITLE All goods delivered shall remain the property of Eurobolt until the other party has performed in full all its obligations to Eurobolt by virtue of any deliveries made and to be made, including the obligations arising from the failure to fulfil any undertakings. The other party shall be entitled to use or sell the goods delivered only in the course of its normal business operations and in accordance with their purpose. Until the property transfers to the other party, the other party shall not be entitled to create any rights in respect of the goods delivered or to give the goods in use to a third party under any title whatsoever. If the goods delivered are to be processed, altered or mixed, Eurobolt shall immediately acquire a right of co-ownership to the good/goods they are incorporated in, up to an amount equal to the value of the goods delivered.

INDUSTRIAL PROPERTY RIGHTS Eurobolt shall retain all industrial and/or intellectual property rights relating to drawings, models, brands, copyright, product specifications, designs, software, etc.

COMPLAINTS The other party is obliged to check all goods and services immediately upon receipt for visible defects, damage and shortcomings, and to report such to Eurobolt immediately in writing. All other complaints concerning goods or services delivered or invoices must be reported to Eurobolt in writing within 14 days. The grounds for the complaint must be stated in full detail. The return of goods delivered shall take place at the risk and expense of the other party, subject to the prior written approval of Eurobolt and the conditions set by Eurobolt in this respect.

LIABILITY All goods and services shall be delivered by Eurobolt to the best of its ability, though Eurobolt will only accept liability for direct loss or damage which is the direct result of gross negligence or intent on its part. Indirect loss or damage, loss of profit, loss of goodwill and loss or damage to third parties shall never be eligible for compensation. In all cases, Eurobolt ‘s liability is limited to reasonable compensation for the loss or damage sustained, with a maximum of the agreed price for the delivery or partial delivery concerned. Loss or damage must be notified to Eurobolt in writing within ten days of discovery, failing which all rights to compensation shall become extinct. All claims for compensation shall become void by prescription upon the expiry of a twelve-month period commencing the date of notification.

DEFAULT AND DISSOLUTION In the event that the other party fails to fulfil any contractual obligation on time, or has been or is liquidated or dies or applies for a moratorium judicial postponement of payment of debts, or a petition for its winding up or bankruptcy is or has been filed or its assets are attached, all amounts owed by the other party to Eurobolt shall become immediately payable in full and Eurobolt shall have the right to dissolve all agreements without notice of default or judicial intervention being required, to suspend further deliveries and/or claim payment in full of all receivables, without prejudice to Eurobolt ‘s right to compensation in full for all loss of capital and other losses.

RETENTION Should the other party fail to fulfil its obligations, or to provide adequate security, Eurobolt shall have the right to retain all goods which are in its custody and control on behalf of the other party.

PAYMENT All payments must be transferred to a bank or giro account to be stated by Eurobolt within 30 days of the date of invoice. The other party is not entitled to any suspension, reduction or sett-off unless specifically agreed to by Eurobolt in writing. On first request of Eurobolt, both prior to and following the conclusion of each agreement, the other party is obliged to provide in, and if necessary supplement, all securities in any by Eurobolt requested form, to ensure the correct fulfilment of all obligations of the other party. If the other party does not provide in the requested securities within a fortnight after Eurobolt ‘s written request, Eurobolt is entitled to postpone all it’s obligations and all amounts owed by the other party to Eurobolt shall become immediately payable in full. In the event that the agreed payment term is exceeded, the other party shall be liable to pay interest at a rate of 1% per month on all outstanding amounts, with part of a month being counted as a whole month. All collection charges shall be for the other party’s account. The extrajudicial costs will amount to at least 15% of the total claim including interest.

APPLICABLE LAW AND DISPUTES All agreements entered into with Eurobolt shall be governed exclusively by Dutch law, in terms of their conclusion, content and performance. Any disputes relating to the conclusion, content and performance of all agreements entered into with Eurobolt shall be submitted for arbitration to the competent court in Zutphen, the Netherlands. Eurobolt shall be entitled, however, to submit a dispute to the court which is competent to hear this by operation of law or by virtue of international treaties.