General Terms of Business

1. The following terms of business shall be considered to have been accepted as binding by the purchaser unless an agreement to the contrary has been reached.

2. In the case of companies with which Glashütte Valentin Eisch GmbH (hereafter referred to as “Glashütte Eisch”) is not in regular business contact, the receipt of a satisfactory credit check will be a prerequisite for the execution of an order, even if the latter has already been confirmed without reservation. The sale of Eisch products is only permitted via recognised specialist retailers to private customers. Sales via the internet or sales to resellers will require in all cases the specific written permission of Glashütte Eisch.

3. All offers are non-binding. Glashütte Eisch shall only regard the order as binding after written confirmation of acceptance has been received. Business agreements by telephone, fax, e-mail or via company representatives must be confirmed in writing to be legally valid.

4. Prices are listed in EURO ex-works and do not include transport packaging, shipping costs and value-added tax at the current rate. The prices and conditions in force on the day of delivery shall be applicable.

5. The packaging chosen shall be at the discretion of Glashütte Eisch. The shipping of goods will be effected ex-works in Frauenau and shall be for the account and risk of the purchaser. Glashütte Eisch shall not be liable for breakage, damage or loss during transport. Glashütte Eisch is entitled to dispatch part shipments to the customer without prior agreement inasmuch as part shipments have not been specifically excluded in the purchase contract concerned. Each part shipment shall be treated as an order to be invoiced and accounted for separately..

6. Information regarding delivery times shall not be regarded as a binding guarantee. If there is a delay in delivery on the part of Glashütte Eisch the purchaser must in all cases set an appropriate period of grace which must amount to at least four weeks. At the end of this period of grace the purchaser may cancel the purchase order if the goods have not been announced as being ready for dispatch. The purchaser is required to purchase any part orders already produced by Glashütte Eisch at the agreed terms. Claims to compensation resulting from delays in the completion of the order, or failure to fulfil the order, are excluded. The delivery date may be extended by an appropriate amount if obstacles which Glashütte Eisch could not have foreseen should arise, e.g. official interference, delays in the delivery of energy and raw materials, strikes, lockouts or fire.

7. Force majeure or events of technical origin which restrict the production of Glashütte Eisch to a considerable extent may result in a cancellation of the order by Glashütte Eisch. If there is an interruption to business of this nature which continues for a longer period, Glashütte Eisch shall be entitled to dispatch part orders which have already been produced immediately. A duty of reimbursement for substitute purchases will not be recognised. In such cases any claims on the part of the customer to compensation because of delays in delivery shall also be excluded. Events of this nature shall also include significant changes to the currency rates.

8. Discrepancies with regard to measurement, content, weight and colour arising during production shall be permitted within the framework of what is commercially usual.

9. With regard to samples and models, Glashütte Eisch shall not be liable for replacement in the case of loss, damage or breakage. Tools and moulds are the property of Glashütte Eisch even when the purchaser has paid the costs of acquisition in whole or in part.

10. The purchaser shall be liable for ensuring that the order placed by him does not interfere with the property rights of third parties as a result of the provisions issued by him regarding form, colour, size and weight. The purchaser shall be responsible for all damage, costs etc. arising in such cases through an infringement of the rights of third parties.

11. The purchaser must inspect the goods upon receipt with regard to completeness and any externally visible faults and must lodge any complaints in this respect in writing at the latest within 14 days of receipt of the shipment. Complaints with regard to faults which are not externally visible must be lodged in writing immediately upon discovery and in any case within six months of delivery at the latest. In all other cases the order shall be considered to have been fulfilled in due manner. §§ 478 and 479 of the German Civil Code (BGB) and further obligations regarding inspection and complaints in accordance with §§ 377, 378 of the German Commercial Code (HGB) remain unaffected. Failure to lodge a complaint in due time shall lead to the exclusion of the customer’s guarantee claims. The lodging of a complaint does not interrupt the guarantee period. Goods which are the subject of a complaint shall be returned to Glashütte Eisch for examination. Glashütte Eisch shall be liable for faults which already existed time of the transfer of risk. Glashütte Eisch may either replace such goods or repair them free of charge. Should repair not prove possible or fail, the customer shall have the right to reduce the purchase price or to cancel the purchase order.

12. Glashütte Eisch remains the owner of the goods until payment in full of all claims due to the company from the entire business relationship, including interest and costs up to the full redemption of the bills of exchange and checks handed over to this end. Where recourse is established for the seller through payment of the purchase price by a bill of exchange, the reservation of ownership and the claim on which this is based arising from deliveries made shall not lapse until the purchaser has honoured the bill of exchange as drawee. In the case of resale the purchaser shall assign to Glashütte Eisch the claims to which he shall be entitled from the resale to third parties as security for the above-mentioned claims of Glashütte Eisch. Until revoked the purchaser is hereby granted the authority to collect the demands arising from the resale. Glashütte Eisch undertakes to release the assigned claims if it so chooses inasmuch as they exceed its claims to be secured by more than 25% and they derive from fully paid deliveries. The purchaser undertakes to provide Glashütte Eisch at any time with information about the creditors and the amount of the assigned claims. Glashütte Eisch is entitled to report the assignment to the third-party debtor as soon as the purchaser is in default of payment. Third-party claims which infringe the rights of Glashütte Eisch must be reported to the latter immediately.

13. In the case of objects delivered under the description “Poetry in Glass”, a right of return within two years is agreed. This period of time shall commence with the submission of the invoice. The purchaser shall bear the costs of returning the objects. The purchaser shall also be liable for the risk of breakage during the return transport.

14. Invoices are payable in EURO within 14 days of the invoice date, irrespective of the date upon which the invoice is received or the date upon which the goods are received, minus 2% early payment discount or within 30 days of the invoice date, irrespective of the date upon which the goods are received (net without deduction). Bills of exchange and cheques will only be accepted by special arrangement and for processing without early payment discount. All costs relating to collection and encashment shall be charged to the purchaser. Default of payment shall commence within 30 days of the invoice date, irrespective of the date upon which the goods are received. From commencement of default, default interest or discount charges will be charged from the 31st day after receipt of the invoice. These amounts are fixed at 5% above the base rate of the ECB. Despite possible provisions to the contrary on the part of the customer, if the case should arise Glashütte Eisch is entitled to credit payments against the customer’s older debts in the first instance. If costs and interest have already been incurred, Glashütte Eisch is entitled to credit the payments in the first instance against the costs, then against the interest due and finally against the principal. The customer is to be informed about the way in which the payment has been allocated..

15. Payment default and other infringements of the contract on the part of the customer will give Glashütte Eisch the right to cancel the contract or to claim compensation for non-fulfilment after the expiry of an appropriate period of grace. In the case of payment default Glashütte Eisch is also entitled to exercise its right of retention for all unfulfilled deliveries or to demand advance payments following advance announcement.

16. This contract is subject to German law and excludes the possibility of recourse to UN purchasing law. The place of fulfilment for delivery and payment is Frauenau. The sole place of jurisdiction – also for claims relating to cheques and bills of exchange – is the locally responsible court for Frauenau.

17. If individual clauses in these General Terms of Business should prove ineffective in whole or in part, the effectiveness of the other clauses shall remain unaffected. The ineffective clauses shall be replaced by effective ones whose effect most closely reflects the original commercial intention.