General Terms and Conditions of Business

(1) Unless otherwise agreed, any business transactions concluded by and with us shall be subject to the below
general terms and conditions of business. (Purchase) conditions of the customer only apply if they do not
contradict these General Terms and Conditions of Business.

(2) Any contract shall be subject to our currently valid supply agreement. Delivery times are mandatory only if expressly agreed.

(3) Unless the order confirmation suggests otherwise, our prices are "free buyer’s address". Unless the order confirmation states otherwise, our invoices are due immediately (net cash or L/C).

Interest on arrears will be calculated at the statutory rate. The enforcement of further damages will be reserved. Only counterclaims which are undisputed or have become res judicata, may be set off against.
If more than one receivable is in arrears, all claims against the customer for payment fall immediately due. When this is stated on the invoice, our claims are as signed to BFS finance GmbH, Verl. In this case, payments with debt discharging effect can only be made to BFS finance GmbH The bank account is specified in the notice on the invoice.

(4) Ownership of the supplied products remains with us until the complete payment of all liabilities of the customer to us, including a possible current account balance. Until such permission is revoked, the customer may sell the goods subject to reservation of title within the ordinary course of business as long as the customer does not default in its payments. In case of the goods subject to reservation of title being sold, the customer hereby in advance assigns all claims vis-à-vis its buyer relating to such sale to us. Until such permission is revoked, the customer is entitled to collect all of these assigned claims. However, it may not dispose of them in any other way, e.g. pledge them or assign them elsewhere. If the customer’s buyer insists on a prohibition to assign, the customer shall inform us of this immediately. If the customer does not provide sufficient security for our claims, we are entitled to prohibit the sale of goods supplied by us to clients insisting on a prohibition to assign.

Should the customer default in its liabilities towards us or should its financial conditions deteriorate substantially, we shall be entitled to resume possession of the goods subject to reservation of title and sell them directly to another buyer, as well as to notify third party debtors of the assignment and collect the claims ourselves. The purchaser undertakes to grant access to his premises for the purpose of identification of the contractual goods and reclamation there of. Assertion of retention of title does not require withdrawal from the contract, unless the customer is the consumer.

Upon request, the customer shall inform us about the stock of goods subject to reservation of title and of the assigned claims. Should the goods subject to reservation of title or the assigned claims be seized by a third party, the customer shall inform us of this immediately.

If the collective value of the securities provided to us exceeds our claims by more than 10 per cent, we will release securities upon the customer’s request. The value of securities is calculated as follows: goods in sealed original packing = 90 % goods in unsealed original packing = 70 % goods without packing = 50 % of the price on the price list pertaining to the delivery. Claims from the resale are valued at 90 % of the nominal value.

(5) For defects of the delivered goods, including guaranteed properties, we warrant as follows:
We guarantee that at the time of passing of risk the object of purchase will be free of faults impairing its value or suitability for proper use. The guarantee is subject to the condition, that, in case of a defect notified to us, we shall provide remedy by repair or substitute at our sole discretion. We will communicate our decision to the customer within three weeks of being notified of the defect. either . In the case of failure of either the repair or the substitute delivery, the customer shall be entitled to demand a reduction of the price or a cancellation of the contract (refunding or annulment). Any further liability, especially for damages that do not concern the delivered goods, is excluded, unless we are culpable of intent or gross negligence.

(6) The purchaser agrees that its personal data be saved by us, as far as the execution of this delivery business and successive delivery businesses require.

(7) German law shall apply.

The relationship between us and the customer is not subject to the regulations of the CISG (United Nations Convention on Contracts for the International Sale of Goods).

If the customer is a businessman within the meaning of the German Commercial Code, Kiel shall be place of performance and legal venue. An action can also be brought against the customer at his place of domicile. Deviations from our General Terms and Conditions of Business shall be valid only in written form. The written form requirement cannot be modified orally.

Should individual terms become legally, this shall not affect the remaining terms.

12.11.2009