General Terms and Conditions of Business

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I. Scope:

These General Terms and Conditions of Business apply to all our contracts, deliveries and other services including consultancy services, information services and similar. An express objection to the validity of the general terms and conditions of business of the purchaser is not needed. On the contrary the following General Terms and Conditions of Business are considered to be accepted at the latest on acceptance of the material sold.

II. Quotations and Conclusion of Contracts:

Our quotations are without obligation. Contracts signed and other agreements, in particular all subsidiary agreements and assurances by our sales staff require our written confirmation to become effective.

III. Prices:

The prices are, unless marked otherwise in the quotation, for delivery ex works without packaging, transport and insurance.

IV. Payment and Settlement:

1. The payment terms given in our order confirmations are binding on the purchaser. To the extent that nothing has been agreed in the individual case, payments are to be made net cash on receipt of the goods without any deduction.

2. We accept negotiable bills of exchange and cheques on account of payment if this has been expressly agreed. Payment by cheque and bill of exchange must be carried out immediately upon invoice receipt, in this case a discount is not given and the discount charges are to be refunded immediately.

3. All our claims are, irrespective of any other agreements, due immediately if the payment terms are not met or circumstances become known to us that are likely to impair the creditworthiness of the purchaser. We shall then be entitled, without prejudice to further legal rights, to the option of either carrying out deliveries still outstanding only against payment in advance, demanding securities acceptable to us, cancelling the contract after an appropriate extension period or demanding damages for non-fulfilment.

4. We are entitled to set off our claims against those of the purchaser regardless of the legal basis even if the mutual claims are due on different terms. The retention of payments or offsetting because of any counterclaims of the purchaser contested by us is not permissible.

V. Delivery Periods and Dates:

1. Delivery periods and dates are considered to be approximate unless we have given a written agreement expressly as binding. Delivery periods start with the receipt of the order confirmation. Agreed delivery periods are extended by the period by which the purchaser falls behind with his obligations, in particular payment obligations, towards us from this or another contract, plus an appropriate lead-in period.

2. Events of force majeure (these are the equivalent of strike, lockout, raw material and fuel shortage, operation or transport failures and other circumstances that are not to be attributed to us) entitle us - even within a default period - to postpone the delivery by the duration of the impediment or of an appropriate start-up period or to partly or wholly cancel the contract because of the part not yet fulfilled.

3. All contractually agreed cancellation rights refer strictly only to the part of the contract not yet fulfilled.

4. Should damages arise to the purchaser because of a delay attributable to our fault we shall reimburse the damages that have been proved to have arisen and that were foreseeable at the time of the signing of the contract, at a maximum however of 5 % of that part of the total delivery that because of the delay cannot be delivered on time or cannot be delivered fully as contracted. The right of the purchaser to cancellation after the fruitless expiry of an extension period set for us will remain unaffected.