Terms and Conditions

Article 2 – The offer

1. Every offer by the Company is subject to confirmation.

2. The Company is not bound by obvious mistakes or errors in the offer.

3. Each offer contains such information that it is clear to the Customer which rights and obligations are attached to acceptance of the offer. This concerns specifically, but not limited to:

– the price exclusive of taxes, unless agreed otherwise;

– the way in which the Agreement will be concluded and which actions arerequired for it;

– the method of payment, delivery or execution of the Agreement;

– the period of time within which the offer must be accepted or the period of timewithin which the price must be settled.

Article 3 – Quotes and orders

1. Quotes made by the Company are free of obligation, unless indicated otherwise. The Company shall only be bound by the offers if it confirms the Customer’s acceptance thereof in writing and meets the conditions set in this respect.

2. The Company shall not be bound until it accepted an order in writing, also in theevent that it has made an offer.

3. If the Customer has accepted the offer by electronic means, the Company shallforthwith confirm receipt of the acceptance of the offer, also by electronic means.

4. Modification or cancellation of an order placed with the Company or anAgreement concluded with the Company can only be effectuated with the Company’s written consent and on any conditions the latter may set. In general, the Customer will owe the Company at least 25% of the principal sum in the event of cancellation of an order placed.

5. The Company is entitled to perform a prior credit check. Consequently, the Company accepts each offer on the implicit condition that from any possibleenquiries to be made, the Customer will appear to be sufficiently creditworthy.The Company is at all times entitled to demand provision of security from theCustomer for the timely and complete fulfilment of its payment and otherobligations or demand payment in advance prior to delivery or continueddelivery. If the Customer fails to do so, the Company will be discharged from itsobligation to deliver or continue delivering, without prejudice to its right tocompensation. In the event of such payment in advance, the delivery period willcommence from the moment the Company has received the payment.

6. The Customer represents and warrants that the Products are exclusively intended for authentic duty-free sales channels and end users within the appointed sales territory. Any breach of this warranty shall entitle the Company to immediately suspend or terminate the Agreement and shall trigger the Customer’s indemnity obligations under Articles 17 and 27.

Article 4 – Delivery and execution

1. Products are delivered ex works (INCOTERMS, most recent version) Venlo inthe Netherlands as indicated by the Company, unless agreed otherwise in writing. Delivery dates are indicated or confirmed approximate only by the Company and the Company can neither be held liable for them nor beconsidered to fail to fulfil its obligations in respect of the Customer on the basisthereof if a delivery is made within a reasonable period of time before or afterthe indicated delivery date. The Company commits itself to making a reasonableeffort within commercial limits to comply with the delivery dates it indicated orconfirmed, provided that the Customer provides all necessary order and delivery details within a reasonable period of time prior to the relevant delivery date.

2. The Customer must inform the Company in writing in the event that there has been no delivery and allow the Company a reasonable period of time of at leastsixty (60) days to correct the omission. If the Company fails to deliver withinsuch period of sixty (60) days, the sole and exclusive legal remedy available tothe Customer is to dissolve those parts of the Agreement that were not executed.

3. From the moment of delivery, the Products will be at the risk of the Customer and any and all direct and indirect damage caused to and/or due to the Products suffered by the Company and/or third parties will be at its expense.

4. If delivery of a Product ordered appears to be impossible, the Company will endeavour to make a replacement Product available. If availability of Products is limited by whatsoever cause, the Company will be entitled to distribute the Products available among its customer base entirely at its own discretion, which may, depending on the given situation, lead to less

Products being sold and delivered to the Customer than recorded in the Agreement, without any responsibility or liability arising out of it for the Company in respect of the Customer for any possible loss resulting from it.

Article 5 – Partial deliveries

The Company is allowed to deliver Products in partial deliveries. This does notapply if a partial delivery has no independent value. If the Products are delivered in parts, the Company will be authorized to invoice each partial delivery separately.

Article 6 – Commitment to take delivery

The Customer is obliged to take delivery of the Products at the time they aredelivered to it or at the time they are made available to it in accordance with the Agreement. If the Customer refuses to take delivery of them or if it is negligent with regard to the provision of information or instructions necessary for the delivery, the Products will be sold on consignment at the risk of the Customer. Inthat case, the Customer will owe all additional costs, which will in any eventinclude the cost of storage. These costs amount to at least 25% of the principal sum the Customer owes the Company.

Article 7 – Transportation

1. In all cases and irrespective of the agreed terms and conditions of delivery, theCompany shall be entitled to have the Products transported, unloading inclusive,at the expense and risk of the Customer, in a manner to be determined by theCompany and using means of transportation at the Company’s option.

2. The Company shall not be responsible for (the use by the Customer of) any documents (provided by the Company) for the transportation of the Products to the place of destination.

3. At the first request of the Company, the Customer shall provide all necessarysecurities for the documents needed to transport the Products to the place of destination.

4. In the event that circumstances beyond the control of the Company prevent the Products from being transported to or onto respectively delivered at the agreedplace, or in the event that the Customer fails to take delivery of the goods, theCompany shall have the right – at its option – either to take the Products back or to store the Products (or have them stored) at the expense and risk of the Customer. Any costs of return shipment and storage shall be payable by the Customer, while the Customer shall furthermore be obliged to fulfil his obligations to the Company as if delivery had taken place. The costs referred tohere shall be determined in advance by the Company and the Customer jointly at 15 per cent at least of the agreed price, without prejudice to the right of the Company to compensation of the actual costs should these be higher.

Article 8 – Relevant information

1. The Customer will indicate in due time in writing what relevant information and/or details it requires from the Company with regard to the execution of the Agreement.

2. If the Customer fails to comply with the provisions of paragraph 1 of this Articlefor whatever reason, the Customer shall in no event be entitled to any appeal and/or defence based on breach by the Company of a duty of disclosure.

3. The Customer should warn against inaccuracies in the offer application, the orderconfirmation and/or in the Agreement. If the Customer fails to warn, it will not be entitled to an appeal to defence based on the inaccuracy if a careful Customer would be able to note the inaccuracy.

4. The Company will execute the Agreement to the best of its ability and understanding and in accordance with proper professional standards. All this on the basis of the state of science known at that time.

5. If it appears during the execution of the Agreement that a proper execution requires the agreement to be modified or supplemented, the parties will in joint consultation and in a timely fashion proceed to its modification. If the nature, scope or contents of the Agreement are modified, be it or not at the request orindication of the Customer, the competent authorities et cetera, as a consequence of which the Agreement changes in a qualitative and/or quantitative respect, this may have consequences for what was originally agreed. Therefore, the originalamount agreed upon may also be increased or reduced. The Company will provide a prior quotation thereof to the extent possible. In addition, a modification of the Agreement may imply a change in the execution term originally indicated. The Customer accepts the possibility of a modification of the Agreement, including a modification of the price and execution term.

6. If the Agreement is modified at the request of the Customer, including in theform of a possible supplement, the Company will be entitled to execute it onlyafter approval by the person authorized thereto within the Company andapproval by the Customer of the price and other conditions of the execution as indicated, which include the time to be determined in that case at which it will be executed. In the event that the modified Agreement will not be executed or not immediately, this shall not imply a breach of contract by the Company and shall not imply grounds for the Customer to terminate or cancel the Agreement.

7. Without being considered to be in default, the Company may refuse a request fora modification of the Agreement, if this could have consequences in a qualitative and/or quantitative respect, for example for the work to be performed or theProducts to be delivered within that scope.

8. If the Customer should fail to properly fulfil what it is bound to fulfil in respect of the Company, the Customer will be liable for any and all loss directly or indirectly caused by it and suffered by the Company.

Article 9 – Samples, designs and examples

If the Company has shown or provided a design, sample or example, this issupposed to have been shown or provided merely by way of indication: the properties of the Products to be delivered may vary from the sample, design or example, unless it was explicitly stated that delivery would be in conformity with the sample, design or example shown or provided.

Article 10 – Changes in the Products to be delivered

1. The Company is entitled to deliver Products that vary from the Products describedin the Agreement.

2. If the Company makes use of this possibility and delivers a Product whichsubstantially varies from the Product agreed upon, the Customer is not entitled to dissolve the Agreement.

3. The Customer also has no power to terminate the Agreement if it concernsmodifications of the Products to be delivered, the packaging or pertaining documentation required to comply with applicable statutory provisions or if it concerns minor modifications of the Product which imply an improvement.

Article 11 – Price

1. The prices stated in a quote, confirmation or Agreement are in euros, they are based on delivery ex works (INCOTERMS, most recent version) Venlo in theNetherlands or a different location to be indicated by the Company, unlessagreed otherwise in writing between the Customer and the Company, and they are exclusive of taxes, duties or similar charges statutorily applicable now or at any point in the future to the Products or other costs. The Company will increase the sales price with taxes, duties or similar charges if the Company is statutorily obliged thereto or has the option to pay or collect them, and the Customer will pay them together with the price.

2. During the validity period stated in the offer, the prices of the Products offeredwill not be increased, with the exception of price changes as a consequence of changes made by the government.

3. In derogation of the previous paragraph, the Company may offer Products withvariable prices if the prices of those Products are bound by fluctuations in the financial market and outside the control of the Company. This being bound by fluctuations and the fact that any prices stated may be guide prices will be stated in the offer.

4. Price increases within 30 days from the conclusion of the Agreement are onlyallowed if they are the consequence of statutory regulations or provisions.

5. Price increases after 30 days from the conclusion of the Agreement are onlyallowed if:

– they are the consequence of increases in the prices of materials, raw or otherwise, salaries, social security costs, transport costs and fuel costs; or

– the Customer is authorized to dissolve the Agreement as per the day the price increase takes effect in the event that the price increase (exclusive of VAT) exceeds 10%.

Article 12 – Payment

1. Unless otherwise agreed in writing, amounts payable by the Customer must bepaid within 5 working days of the invoice into the account number provided by the Company.

2. If the payment term is exceeded, the Company will be entitled to charge the statutory commercial interest rate pursuant to section 6:119a of the Dutch CivilCode on the outstanding amount. The interest on the amount payable will becalculated from the moment the Customer is in default until the moment of full payment of the outstanding amount.

3. The Customer waives all rights of setoff, retention, and suspension to the maximum extent permitted by law.

4. Payments made by the Customer will firstly serve to settle all interest and costs due and secondly to settle those invoices which have been outstanding for the longest time, even if the Customer states that the payment relates to a later invoice.

5. Objections to the amount of an invoice will not suspend the payment obligation.

6. The Customer is obliged to report inaccuracies in payment details provided orstated forthwith to the Company.

Article 13 – Collection costs

1. If the Customer is in default or fails to fulfil one or more of its obligations, any and all reasonable costs incurred to obtain extrajudicial fulfilment will be at the expense of the Customer. These costs are calculated on the basis of the following table (principal sum including interest):

On the first €3,000​15%

Above that up to €6,000​10%

Above that up to €15,000​8%

Above that up to €60,000​5%

Above that as from €60,000​3%

The extrajudicial costs actually incurred are owed if they exceed what followsfrom the above calculation.

2. Furthermore, the Customer shall owe the Company any and all litigation costs actually incurred – including court fees,bailiff’s costs and lawyers’ fees – in all instances, unlessthey are unreasonably high.

Article 14 – Complaints and right of withdrawal

1. Immediately following the moment at which the Products are made available toit, the Customer is obliged to inspect what has been delivered for defects. In thisrespect, the Customer ought to verify whether the quality and/or quantity are inaccordance with what was agreed.

2. If visible defects or shortcomings are established, the Customer must report themin writing to the Company within 5 working days from delivery or release of the Products to the Customer or its appointed carrier, whichever occurs first.

3. The Customer must report hidden defects in writing to the Company within 5 working days from their discovery and in any event within two (2) months from delivery.

4. Any claim of the Customer with regard to delivered Products shall also becomevoid in the event that:

– the agreement refers to the delivery of used or damaged Products;

– the Products have been processed or the Products are otherwise not (or no longer) identifiable as originating from the Company;

– the defects are (also) caused by normal wear and tear, inexpert and/or incorrecttreatment, use and/or storage or maintenance of the Products;

– the Customer has not forthwith given the Company the opportunity toinvestigate the complaints and to fulfil its obligations;

– the Customer has resold the Products;

– the Customer has not, not in time or not sufficiently, fulfilled any obligationresting with him.

5. In connection with any parts and/or Products obtained from third parties which have not been treated by the Company, the Customer can only assert his claims against the Company insofar as the Company, in its turn, can assert any claims against its supplier. Should this be the case, the Company shall at any rate bedischarged with respect to the Customer by transferring its rights with respect to its supplier to the Customer.

6. The Customer is not entitled to assert any rights against the Company in the event that he can also directly assert the rights with regard to the defects concerned against the manufacturer.

7. Without prejudice to the provisions in the previous paragraphs of this article, inthe event of timely and justifiable complaints, the Company shall only beobliged – at its option – to either repair the Products, proceed to redelivery or tocredit the Customer for the defective Products. These Terms and Conditions shall apply unimpaired to redelivery.

8. Complaints about an invoice should be submitted to the Company in writing within 5 working days from the date the invoice was sent.

9. If a defect is reported later, the Customer will not be entitled to replacement or compensation. This will result in the lapse of all rights.

10. A timely submission of a complaint by the Customer does not suspend itspayment obligation. In that case, too, the Customer is obliged to take delivery ofany other Products ordered and to pay for them. Products may only be returnedto the Company after the Company’s prior written consent thereto.

11. It shall not be permitted to return any goods delivered by the Company without the Company’s prior written consent. Should any return shipments take place, then this shall at all times be done at the expense and risk of the sender.

Article 15 – Breach and termination

1. Without prejudice to any rights and legal remedies the Company may have at its disposal by virtue of the Agreement or the law, the Company may by means of a written notification to the Customer terminate the Agreement or any part thereof with immediate effect without any liability of whatsoever nature if:

(a) the Customer has infringed or failed to respect any provision of the Agreement;

(b) any procedure concerning insolvency, bankruptcy (including, among otherthings, reorganization), liquidation or completion has been initiated in respect of the Customer (also in the case where such a procedure is initiated voluntarily or involuntarily by the Customer), the Customer is put under the supervision of anadministrator or if there is a transfer in favour of the creditors of the Customer;

(c) there is a change in the control of the Customer or any of its property.

2. As soon as one of the above events occur, all payments to be made by theCustomer within the scope of the Agreement will be immediately due and payable. In case of annulment or termination of an Agreement or an Agreement becoming invalid, the terms and conditions and stipulations that are intended to continue in force after the annulment, termination or invalidity of such Agreement will indeed continue in force.

Article 16 – Liability

1. As soon as the Customer has found a possible ground for a proper claim or reasonably ought to have found such, the Customer will be obliged to inform the Company forthwith in writing of the existence of this alleged claim in respect of the Company, supported by documents and properly substantiated with the helpof an independent investigation report provided with pictures, such subject toforfeiture of rights. Every claim in respect of the Company will lapse one yearafter the Customer notified it, or at any rate ought to have notified it, unless the claim has been taken to the competent court by then. The Company is not liable in respect of the Customer as long as the Customer has not fulfilled its obligations to the Company.

2. The Company’s liability shall never go beyond the provisions of these Terms andConditions, regardless of whether there are claims by reason of an unlawful act, security, contractual relationship or any other legal basis.

3. The Company’s liability under the agreement shall be limited to fulfilment of the obligations described in the agreement, in particular the obligations described in article 14.7.

4. The Company is only liable for direct damage. Explicitly excluded is liability for indirect damage, including lost profits, consequential damage, loss suffered, lost savings, immaterial damage, damage due to business interruption, lost goodwill, compensation of damages of indirect, additional or extraordinary nature or compensation of damages imposed by way of punishment or in connection withconsequential damage arising from or related to the Agreement or the sale of Products or Services by the Company or the use thereof, regardless of whether these compensations are based on an unlawful act, security, contractual relationship or any other legal basis, and even if the Company has been informed or is aware of the possibility of such damages (and the compensation thereof).

5. Direct damage shall exclusively be taken to mean the reasonable costs incurred to determine the cause and extent of the damage, in so far as the determinationrefers to damage within the meaning of these Terms and Conditions, any reasonable costs incurred to replace the Product, in so far as they can be attributed to the Company, and reasonable costs incurred to prevent or limit direct damage as referred to in these Terms and Conditions.

6. The extent of the liability of the Company for whatever reason shall in any case per event (in which respect an interrelated series of events counts as one event) be limited to the amount paid out in the relevant case under its liability insurance(s), plus the amount of the excess which under the policy conditions is not borne by the insurers. If no insurance was taken out in this regard or if thepolicy does not provide cover, the damage shall be limited to the invoice value of the specific Product giving rise to the claim actually paid by the Customer tothe Company. The total compensation of direct damage shall never exceed€25,000, also not in the case of payment under a liability insurance.

7. The Company is not liable for shortcomings recognized by the Customer orwhich it could have recognized, for acts performed by or due to the Customer in connection with the relevant Agreement without the Company’s consent, or for its own shortcomings caused by shortcomings of the Customer.

8. The Company is not liable for damage of whatever nature caused by the Company proceeding from incorrect and/or incomplete details provided by or on behalf of the Customer.

9. The limitations of liability included in paragraph 6 do not apply if the damage is due to wilful misconduct or gross negligence on the part of the Company or the managing employees pertaining to its company management. The Company is not liable for damage caused by auxiliary persons, also if due to their intent or deliberate recklessness.

10. Limitations of liability in favour of the Company also serve in favour of the directors, employees and non-subordinate representatives and auxiliary persons of the Company.

Article 17 – Guarantees and indemnity

1. Since the Company does not manufacture the Products itself and sells them on(without seeing them) to third parties, it cannot, unless agreed otherwise in writing with the Customer, guarantee or warrant that:

(a) all Products and Services delivered by the Company to the Customer including the production process, comply with the quality requirements made by the Customer, are identical to the reference samples and specifications approved by the Customer and comply with what the Customer may otherwise reasonably expect;

(b) the Products and Services delivered and to be delivered by the Company to the Customer meet the prevailing requirements under international, European and Dutch legislation, which also include health protection requirements, requirements regarding food safety, the safety of a Product or Service,prescribed specifications and labelling, standards set by relevant certifying bodies, the environmental aspects of packaging and product liability;

(c) the Products and Services sold and delivered or to be sold and delivered by the Company to the Customer and their intended use by the Customer and itscustomers do not infringe rights of third parties, which also includecopyrights,

neighbouring rights, patent rights, trade name and trademark rights, as well as rights to drawings and designs and rights to know-how, and that the Company is entitled to deliver these Products and Services to the Customer for theirintended use. The Company does not indemnify the Customer against claims of third parties in this respect.

2. If the Customer sells the Products on to third parties or makes them available inany other way or if it uses or processes these Products in connection with orwithin the scope of work to be performed in favour of third parties, theCustomer shall indemnify the Company against any and all claims that thirdparties may possibly enforce in respect of the Company, in so far as such claimsgo beyond the claims the Customer is able to enforce in respect of the Companyby virtue of the Terms and Conditions.

3. The Customer indemnifies the Company against any possible claims by thirdparties which suffer damage in connection with the execution of the Agreement, the cause of which is attributable to a party other than the Company.

4. If any claims should be made by third parties against the Company for thatreason, the Customer shall be bound to assist the Company in and out of court and to do everything that may be expected from it, such without delay. If the Customer should fail to take adequate measures, the Company itself will be entitled to proceed to it, such without notice of default. All costs and damage onthe part of the Company and third parties caused as a consequence, shall be fullyat the risk and expense of the Customer.

5. In the event of any claim by a third party for which the Customer is obliged to indemnify the Company under this Article 17, the Customer shall, at the Company’s first request, take over the defence against such claim within 14 days of written notice. If the Customer fails to do so, the Company is entitled to conduct its own defence at the Customer’s expense, and the Customer shall reimburse the Company for all costs incurred, augmented by a 15% administrative fee.

Article 18 – Force Majeure

1. The Company is not liable to fulfil any obligation in respect of the Customer if it is impeded in doing so as a consequence of a circumstance which is not due to fault and for which it is not accountable by law, by legal act or according to generally accepted standards. The Company is not liable for any omission or delay in the execution of an Agreement if:

(i) the omission or delay is attributable to interruptions in the supply of Products;or

(ii) the omission or delay is attributable to Force Majeure as defined below and/orin the law or by case law.

If an omission or delay as referred to above occurs, the execution of the relevantpart(s) of the Agreement will be suspended for as long as the omission inquestion lasts, whereby the Company will nonetheless not be responsible orliable in respect of the Customer for any possible damage arising from it.

2. The term “Force Majeure” refers to circumstances or events, whether or not they could be anticipated at the time of entering into the Agreement, which according to standards of reasonableness are not within the control of the Company and as a consequence of which fulfilment of its obligations cannot reasonably be required. This definition extends to Force Majeure and/or default at any of the suppliers of the Company.

3. The Company is also entitled to rely on Force Majeure if the circumstanceimpeding (further) compliance with the Agreement occurs after the Company should have fulfilled its commitment.

4. The Company may suspend the obligations under the Agreement during the period the Force Majeure lasts. If this period lasts longer than 3 months, each ofthe parties will be entitled to dissolve the Agreement without any obligation tocompensate for damage suffered by the other party.

5. In so far as the Company has already fulfilled its obligations under theAgreement in part at the time the Force Majeure occurs or if it will be able tofulfil them, and if the part to be fulfilled has independent value, the Companywill be entitled to invoice the part already fulfilled and the part to be fulfilledseparately. The Customer will be obliged to pay this invoice as if it concerned a separate Agreement.

Article 19 – Retention of title

1. All Products delivered by the Company within the scope of the Agreement will remain the property of the Company until the Customer has duly fulfilled allobligations from the Agreement(s) concluded with the Company, whichobligations also include the purchase price, any possible surcharges, interest, taxes, costs and compensation of damages due pursuant to these Terms and Conditions or the Agreement.

2. Products delivered by the Company which come under the retention of title by virtue of paragraph 1, may not be sold on except in the ordinary course of the Customer’s business, and may never be used as a means of payment. The Customer is not authorized to pledge the Products which come under the retention of title or to encumber them in any other way.

3. The Customer should at all times do everything that may reasonably be expectedfrom it in order to safeguard the Company’s

ownership rights.

4. The Customer shall undertake upon the Company’s first request thereto:

– to take out insurance for the Products delivered subject to retention of title and keep them insured against damage caused by fire, explosion and water and against theft, and to submit the insurance policy for inspection;

– to pledge in favour of the Company all claims of the Customer on insurers with regard to the Products delivered subject to retention of title, such in the manner prescribed by section 3:239 of the Dutch Civil Code;

– to pledge in favour of the Company the claims the Customer obtains in respectof its customers when Products delivered by the Company subject to retention oftitle are sold on, such in the manner prescribed by section 3:239 of the DutchCivil Code;

– to mark the Products delivered subject to retention of title as the property of theCompany;

– to render cooperation in other ways to all reasonable measures the Company wishes to take in order to protect its property rights regarding the Products and which do not hinder the Customer unreasonably in its normal business operations.

The Customer hereby grants an irrevocable power of attorney to the Company to execute and register any deed of pledge on behalf of the Customer as required to perfect these security rights.

5. If third parties seize the Products delivered subject to retention of title or wish toestablish or assert rights to them, the Customer will be obliged to inform the Company thereof immediately.

6. In the event that the Company wishes to exercise its ownership rights indicated in this Article, the Customer will give the Company and third parties to beindicated by the Company its unconditional and irrevocable permission inadvance to access all those places where there is property of the Company and to repossess those objects. The Customer is obliged to render its full cooperation to this end, subject to a fine of 10% of the amount due per day.

Article 20 – Confidentiality

1. The Customer recognizes that all commercial, financial, and operational details, including but not limited to the identity of the Company’s suppliers and the upstream supply chain, disclosed to the Customer by the Company and/or its affiliated undertakings constitute confidential information (“Confidential Information”). 

2. The Customer shall not disclose any Confidential Information to third parties or use it for any purpose other than as agreed by the parties within the scope of the sales transaction envisaged in the Agreement. 

3. In the event the Customer is compelled by law, court order, or a competent regulatory authority to disclose Confidential Information, the Customer shall, to the extent legally permitted, provide the Company with prompt prior written notice to allow the Company to seek a protective order or other appropriate remedy.

4. The obligations under this Article 20 shall survive for a period of five (5) years following the termination or expiration of the Agreement. The Company shall be entitled to seek injunctive relief for any breach of this Article.

Article 21 – Import and export control

1. The Customer is aware that certain transactions of the Company are subject to legislation and regulations in the field of export control, including without being limited to those of the UN, the EU and the USA (“Export Control Legislation”), which prohibitsthe export or detour of certain products and technologies to certain countries. All obligations of the Company to (re-)export or transfer Products, as well as any possible technical assistance, training, investments, financial assistance, financing and brokering is in all respects subject to such Export Control Legislation and will occasionally apply to the licence for and the delivery of the Products and technologies outside the Netherlands by persons subject to the jurisdiction of the authorities responsible for that Export Control Legislation. If the delivery of products, services and/or documentation requires an export or import licence from certain authorities or is otherwise restricted or prohibited as a consequence of Export or Import Control Legislation, the Company may suspend its obligations and the rights of the Customer/end user until such licence has been granted or for the duration of the restrictions or prohibitions. The Company may even cancel the order in question in all cases without this resulting in any liability in respect of the Customer or end user. The Customer guarantees that it will in all respects comply with the (re-)export and transfer restrictions in such Export Control Legislation or export licences (where applicable) in respect of every Product delivered to it. The Customer accepts the responsibility to impose all export control restrictions on third parties in case of re-export or transfer of the product to third parties. The Customer must take all measures that are reasonably necessary to make sure no client/customer or end user acts in contravention of such Export Legislation. The Customer must indemnify the Company against all direct and indirect damage, loss and costs (including reasonable lawyers’ fees) and compensations of damage imposed by way of punishment and other liability arising from claims resulting from the fact that the Customer or its clients failed to comply with the provisions of this Article.

2. The Customer confirms that the obligations contained in this Agreement willcontinue in force after termination of an agreement and/or other arrangement onthe basis of which the Products are/were provided to the Customer. Furthermore,the Customer is aware that in the event of any conflict between the provisions of this Agreement and those of any other document in force between the Customer and the Company, the provisions of this Agreement will prevail and be binding on the Customer.

3. The Customer warrants that neither it, nor any of its directors, ultimate beneficial owners (UBOs), or onward customers, are subject to any sanctions imposed by the UN, the EU, the UK, or the USA. The Customer explicitly warrants that the Products will not be directly or indirectly supplied to, or made available for use in, sanctioned territories, including but not limited to Russia, Belarus, Iran, the Democratic People’s Republic of Korea (DPRK), and Syria. Any breach of this warranty shall constitute a material breach, entitling the Company to immediately terminate the Agreement.

Article 22 – Transfer and setoff

1. The Customer is not allowed to transfer any rights or obligations within the scope of the Agreement without the Company’s prior written permission. The Customer is not entitled to withhold or reduce any payments nor to offset existing and future receivables against any payments owed for Products sold within the scope of the Agreement or any other agreement the Customer or any of its affiliated undertakings may have with the Company. The Customer shall undertake to pay amounts due without taking into account any setoff claimed by the Customer or on its behalf.

Article 23 – Anti-bribery

1. The Customer agrees to it that it will comply now and in future with national legislation for the prevention of bribery and with all other laws that will be implemented by the ratification of the OECD Convention on combatting bribery of foreign public officials in international business transactions (including the American Foreign Corrupt Practices Act). In general, the law penalizes bribing or making a corrupt payment to a government official for the purpose of obtaining or keeping assignments, having assignments be granted to a specific person or obtaining undue advantages.

2. The Customer warrants that it complies with all applicable Anti-Money Laundering (AML) laws and regulations. The Customer guarantees the legitimate source of all funds used to pay the Company and warrants that none of its directors or UBOs (holding >25%) are exposed to financial crime or sanctions. The Company reserves the right to request, and the Customer shall promptly provide, any information reasonably necessary to verify AML compliance.

3. If the Customer fails to comply with any provision of this Article, this will be reason for immediate termination of an Agreement by the Company (or one of its affiliated undertakings) without any liability resulting from it for the Company in respect of the Customer. In case of such termination (i) theCompany will not in any way be obliged to deliver any Product to the Customer,(ii) the Customer will be responsible for and obliged to compensate theCompany for damage, claims, fines or other loss (including lawyers’ fees)initiated against the Company or which the Company suffers or must pay as aconsequence of non-compliance with this Article by the Customer, and (iii) theCompany will be entitled to all other legal remedies available to it. The provisions of this Article will continue in force after expiry or termination of this Agreement.

4. The Company only does business with companies that respect the law and comply with ethical standards and principles. If the Company should obtain information from which it appears that the contrary is the case, the Company will inform the Customer thereof and the Customer shall undertake to cooperateand provide the Company with all information necessary in order to decidewhether an allegation received is well-founded and whether or not theAgreement should be maintained. Such information includes without being limited to the accounts, the records, documents or other files.

Article 24 – Applicable law and disputes

1. All quotes, confirmations and Agreements are subject to and shall be interpretedaccording to Dutch law. The Customer and the Company must initially try to resolve any dispute arising from or relating to any Agreement by holding consultations and negotiating with each other in good faith and in an atmosphereof mutual cooperation for a period of at least sixty (60) days.

2. All disputes which cannot be resolved amicably shall be submitted to the exclusive jurisdiction of the Court of Amsterdam, the Netherlands.

3. At the exclusive option of the Company,  any dispute arising out of or in connection with this Agreement may instead be resolved by arbitration in accordance with the Arbitration Rules of the Netherlands Arbitration Institute (NAI) or the International Chamber of Commerce (ICC). The place of arbitration shall be Amsterdam, the Netherlands. The proceedings shall be conducted in the English language.

4. The United Nations Convention on contracts for the international sale of goodsdoes not apply to any quote, confirmation or Agreement.

5. Nothing in this Article 24 may be construed or interpreted as a restriction of theright of the Company or the Customer to obtain an interim injunction or otherjudicial measure under applicable legislation or to take steps to safeguard the option of seeking recourse against the other party.

Article 25 – Other provisions

1. If one or more provisions of the present Terms and Conditions become invalid orcannot be maintained as a consequence of the findings of a competent court or as a consequence of any future act of a legislative or administrative body, this will not affect the validity or enforceability of the remaining provisions. If itshould ultimately be found that any provision of the present Terms and Conditions were unlawful or not enforceable, the provision in question will beconsidered out of these Terms and Conditions while all other provisions will remain fully valid and in force, and the provision that is considered unlawful or not enforceable will be replaced by a provision of similar meaning which represents the original intention of the provision, in so far as such is permitted by law.

2. If any of the parties fails to exercise any right or legal remedy under the Agreement, or only does so after a certain period of time, this may not beinterpreted as waiver of such right or legal remedy and neither can one instanceof exercising or partially exercising such right or legal remedy lead to the exclusion of further or future exercise thereof or the exclusion of any other right or legal remedy under the Agreement or any document related thereto or the law.

3. The Customer shall treat all (business) information in the broadest sense of theword, in connection with the Company, which has been brought or come to his knowledge by the Company and/or within the context of the offer and/or the agreement confidential and shall not disclose the same tot any third party in any way.

Article 26 – Modification of the Terms and Conditions

1. The Company reserves the right to modify these Terms and Conditionsunilaterally. Such modifications shall only apply prospectively.

2. The applicable version is always the version that is in force at the time of entering into the relevant legal relationship with the Company. The Customer is advised to check the Terms and Conditions regularly for any modifications.

Article 27 – Anti-diversion 

1. The Customer shall, upon the Company’s request, provide accurate information regarding the destination and sales channels of the Products. 

2. The Customer shall indemnify and hold the Company harmless against any claims, damages, or losses arising from the diversion of the Products outside the agreed sales channels or territories. 

3. The Company reserves the right, upon reasonable notice, to audit the Customer’s records to verify compliance with this Article.

Article 28 – No publicity 

1. The Customer shall not use the Company’s name, logos, brands, or refer to the business relationship with the Company in any public communication, marketing material, or press release without the prior written consent of the Company.

Article 29 – Data protection

1. The parties shall process personal data in compliance with the General Data Protection Regulation (GDPR) and other applicable data protection laws. The Company’s privacy notice is available upon request.

Article 30 – Authenticity and counterfeit 

1. In the event the Customer suspects that any Products are counterfeit, the Customer shall immediately notify the Company, quarantine the suspected Products, and fully cooperate with any investigation. 

2. Any breach of the obligations under this Article shall entitle the Company to terminate the Agreement with immediate effect.