Smart Distribution & Trading BV Terms and Conditions

I. General Extent ofApplication.

The following Terms and Conditions of sale are only applicable with respect to companies that are reseller and buying products or services for resale only (referred to herein as "cus- tomer")."We", "us" or "our" shall mean Smart Distribution & Trading BV. Contracts regarding deliveries are exclusively based on these Terms and Conditions. We do not recognize terms of business to any other effect that are issued by the Customer, even if we fail to expressly refute their application. Our sales Terms and Conditions are also valid for all future transac- tions with the customer. Termsand Conditions of Sales may be amended from time to timewithout notice at the sole discretion of us.

II. Quotation, ContractClosure

Our quotations are without obligation and non-binding at all times. Unless otherwise stat- ed, we shall remain bound by the prices we quote for 7 days as from the date of the quo- tation.A contract is brought about when the Customer places an order either in writing or verbally and when we issue a written confirmation of order.Oursales staff are not authorized to reach any oral ancillary agreements or to make any verbal commitments that go beyond the content of the written contract.Drawings, pictures, weights and measures and any other specifications are only binding if an express agreement to this effect is reached in the con- tract.The rights of the Customer that are created under contracts concluded with ourselves are not transferable.

III.  Prices, Terms of Payment

Our prices apply for delivery exwarehouse, and statutory value-added tax has to be added to them.At the Customer’s request, we ship the goods at its own cost and risk. Forany goods that are exported, all the customs duties, fees and levies connected with the delivery must be paid by theCustomer.

If the Customer defaults in its payment obligations, then all the outstanding invoices based on our business relations with the Customer shall automatically fall due for payment. For de- liveries still having to be made, we shall be entitled to demand advance cash or the provision of security. The same applies if, subsequent to contract closure, we gain knowledge of any circumstances likely to pose a threat to our claim to payment.

The Customer may only effect setoff against counter-claims that have been declared res ju- dicata or acknowledged by ourselves. The same applies to the Customer exercising rights of retention, unless such rights are based on the same contractual relationship as the claim to payment that is involved.


Our deliveries are subject to us receiving correct and punctual supplies ourselves.Place of performance for our deliveryobligations is our registered placeof business or our warehouse.This also applies if at the Customer’s request we ship the goods to location designated by the latter.We shall select the mode ofdispatch and the packagingat our own reasonable discretion. The delivery periods givenby us are without obligation and are to be deemed approximateat all times, unless they have expressly been declared binding. When goodsare consigned, the deliv- ery date refers to the date on which thegoods are handed over tothe person effecting transport. Unless delivery on fixed date has been agreed, binding delivery datesmay also be exceeded byone week without our being deemed indefault.

V.Passing ofRisk

Risk shall pass to the Customer as soon as the goodsare handed over either to the person ef- fecting transport or to the Customer if the latter collects the goods. If the deliveryis delayed due to circumstances for which the Customer is responsible,then the risk and the warehousing costs shall pass to the Customer as fromthe date on which the goodsare ready for shipment; however, at the Customer’s request and expense we shall be underobligation to effect any insurance re- quested by the latter.

VI. Guarantee

The Customer may not turn down delivery due to minor defects.The warranty period is two years. This period shall commence upon delivery oft he goods. diverging warranty period may be agreed upon in individual cases – in particular in case of special campaigns.

The Customer must inspect the goods immediately on delivery, and any obvious defects must  be reportedto us in writing without delay or at the latest within one week of delivery.Otherwise the goods shall be deemed accepted, except in cases of concealed defects that do not become evident during the inspection. If any such defect becomes apparent at some later date, it must be reported immediately or at the latest within one week of being noticed by the Customer.

Provided defects are reported in good time, substitute delivery or subsequent improvement shall be made at our own discretion. However, we may refuse to remedy defects unless the Customer has paid portion of the purchase price that in view oft he defect is deemed reasonable.If post-performance fails altogether, then at its own option the Customer may demand reductionin the price or withdraw from the contract. Claims to compensationonly exist pursuant to Item VIII below.Liability for normal wear and tear is excluded.Guarantee claims are excluded if modifications are made toproducts, if partsor consumables are used that do not comply with the original specifications, and in the eventof incorrect usage and external factors. When we car- ry out repairs,the Customer bears the risk of loss of data in the equipmentunder repair.

VII. Retention of Title

We reserve title to the goodsdelivered until our entire receivables from the business relation- ship with the Customer – including amounts due at somefuture date – havebeen paid. The Customer may only dispose over the items subject to retentionof title (reserved goods) in the normal course of business, heeding the rights granted to us below.Anyprocessing or modifica- tion of the reservedgoods is done for us as the manufacturer, without obligating us in any way.If our title to the reservedgoods lapses in the wake ofprocessing, modification, combination or blending, then we shallacquire co-ownership of the new itemup to the invoiced value ofthe reserved goods. In the event ofthe acquisition of co-ownership being excluded by law,the Cus- tomer here andnow assigns potential compensation claims to us up to the invoicedamount.In the eventof the reserved goods beingresold, the Customer here and now assigns to us its claim tothe sales proceeds along with all and any ancillary rights; we accept this assignment. Until fur- ther notice, theCustomer remains entitled to collectthe receivables it has assigned.

If the Customer defaults in its obligations towardsus, we shall be entitledto revoke the authori- ty to effect re-sale and to collect receivables, and to subsequently disclose the above assignment and demandthat payment be made to ourselvesdirectly. In any such case, the Customer shall be under obligation to immediatelyprovide us with all the documents and informationthat are needed for collecting the receivables.

The Customeris obliged to adequately insure the reserved goods against all existing risks, in par- ticular, fire,burglary and water damage, and to treatand store them carefully. Any claims to ben- efits that are created by insured events must be assignedto us.The Customer must immediately inform us in writing if executionis levied on the reservedgoods or on the assigned receivables,and hand over the documents that are required in order for us to intervene.

VIII. Limitation of Liability

In case of minor negligence,the liability of Smart DistributionTrading BVshall be limited to the average foreseeable damages. The same shall apply incase of minor negligence of any employees oragents of SmartDistribution Trading BV.Smart Distribution Trading BV shallhowever not be liable for minor negligence in case this negligence constitutes abreach of non-essential contractual obligations.

The limitationof liability is not applicablein cases of any liability for intentional acts or gross negligence by Smart Distribution Trading BVor its agents or if thedamages are due tothe lack of any material property which has explicitlybeen guaranteed in writing ifthe customer was to be protected against such damages by the guarantee.Thelimitation of liabilityshall not apply in casesof minor negligence of SmartDistribution Trading BVor any of its agents, where liability is mandatory by law. The limitation of liability is not applicable for damages to the body, healthor the loss of life ofthe customer.

IX. FinalProvisions

Relations between the contracting parties shall be governed by Dutchlaw. The courts having jurisdictionat our registered place of business(currently Wijchen) shall be exclusivevenue for all and any disputes arising from or in connection with the contractual relationship, if the Custom- er is registered merchant or public corporation, or if the Customerhas no competent court of jurisdiction in the Netherlandsat the time when the contract is concludedor the lawsuit is filed.At our own option however, weshall also be entitledto sue the Customer at its general placeof jurisdiction.If any, oneor more, of the provisionsof these T&C are ineffectivein whole or in  part,thisshallnotaffectthevalidityoftheremainingprovisions.