General Terms of Business

Intro

TINEX Group AS is a Norwegian registered company with the organization No. 916 080 441 (hereinafter TINEX).

Validity

These General Terms of Business shall be applicable to all contractual relations between the involved parties (customer and supplier) unless other agreement is done contractually. Any other terms of trade from counterparty, do not apply.

All orders (by email, fax or post) become legally binding on the ordered when they reach TINEX.

The sales contract for a given order is made effective by written confirmation through TINEX or upon mutual preparation and execution of a special sales contract. Unless otherwise stated, a written offer is binding for 30 days following the date of the offer.

Terms of delivery and payment

Delivery terms shall be interpreted according to the current ”Incoterms” at the time when the order was placed. Unless otherwise agreed, the delivery shall be ”FCA TINEX Group” Oslo (Incoterms 2010) producing factory in question and according to the instructions given by the Purchaser. Payment shall be made in full within 15 days after date of invoice. Overdue payments will be charged additionally.

Exchange rate

TINEX will cover variations of up to +/-3% of the quoted exchange rate. Any variation greater than +/-3% between the quoted exchange rate and bank sell exchange rate at date of invoice shall be applied to the Buyer’s account resulting in an extra cost in the event of a less favourable rate or a credit in the event of a more favourable rate.

Export license

In case the goods offered are subjected to the granting of an export license in compliance with the country of origin, the customer must first apply for an export license from the appropriate authorities. Delivery time is valid, when export license from the country of origin is granted. In the event that an export license is refused or withdrawn, the order shall be cancelled, with no claim or rights resulting there from for either party.

Guarantee / warranty

After receipt of delivery the supplied goods immediately have to be examined for quality and completeness, otherwise any complaints or claims about defects and damages concerning the delivery shall be deemed to be invalid.

Any damage caused by wear and tear or use not accordingly to product specifications from true manufacture will not be covered. The warranty period shall be accordingly to true manufacture.

Packaging

According to our discretion the supplied goods will be packed to commercial standard. All packing charges will be paid by the customer. The packing material is calculated at best and cannot be returned.

Force Majeure

The following shall be considered as force majeure: industrial disputes, strikes, lock-outs, riots, fires, embargo, floods, mobs, war, currency restrictions or any other circumstances beyond the control of the Parties. The Party wishing to claim relief by force majeure shall notify the other Party without a delay upon the intervention and the cessation of it.

Liability

TINEX liability will be limited to the value of the goods only and not for any consequential damages or losses howsoever caused.

Confidentiality

All quotations supplied or communicated by TINEX shall be treated by involved parties as company confidential. Without prior approval, our quotation cannot be published or disclosed, or made use of, reproduced or copied by any parties unless otherwise agreed on.

Law

The sole place of fulfillment for delivery and payment obligations is the seat of TINEX.

All legal relations between the Customer and TINEX are regulated by Norwegian law. The place of jurisdiction for all disputes is Oslo. TINEX is also entitled to sue at the Customer’s seat.

If one or more provisions in these Terms of Business is or becomes ineffective or unenforceable in whole or in part, then the effectiveness of the remaining provisions is not affected.

Changes and extensions to these Terms of Trade as well as collateral agreements are only valid when made in writing.

Date 09.02.2018