General Terms and Conditions

Insulgroup BV — General Terms and Conditions

1. Scope

These general terms and conditions apply to all offers, quotations, agreements and deliveries of Insulgroup BV (hereinafter "Insulgroup"), with its registered office in Dordrecht, the Netherlands. Deviating terms of the counterparty are expressly rejected, unless Insulgroup has accepted them in writing.

2. Offers and Formation of Agreement

All offers by Insulgroup are without obligation, unless expressly stated otherwise. An agreement is only formed once Insulgroup has confirmed the order in writing or has effectively commenced performance.

3. Prices

All prices are in euros, excluding VAT, ex warehouse, unless otherwise agreed. Packaging, transport, insurance and other ancillary costs are borne by the counterparty. Insulgroup is entitled to pass on price changes if cost increases arise after the agreement has been concluded.

4. Delivery and Transfer of Risk

Stated delivery times are indicative and are never firm deadlines. In the event of exceeding the delivery time, Insulgroup must be given written notice of default, allowing a reasonable period for performance. The risk of loss or damage passes to the counterparty at the moment of delivery.

5. Retention of Title

All goods delivered remain the property of Insulgroup until all claims arising from the agreement, including any interest and costs, have been paid in full.

6. Payment

Payment must be made within thirty (30) days of the invoice date, without discount or set-off. On exceeding the payment term, the counterparty is in default by operation of law and statutory commercial interest and extrajudicial collection costs are due.

7. Warranty

Insulgroup warrants the agreed specifications of the goods delivered. Defects must be reported in writing within fourteen (14) days of discovery. In the case of well-founded complaints, Insulgroup will, at its own discretion, replace, repair or credit.

8. Liability

Insulgroup's liability is limited to the amount paid out in the relevant case by its liability insurance or — if no insurance payment takes place — to a maximum of the invoice value of the relevant delivery. Liability for consequential loss, business interruption, loss of profit or immaterial damage is excluded.

9. Force Majeure

In the event of force majeure, Insulgroup is entitled to suspend performance of the agreement or to dissolve it in whole or in part, without being liable for any damages.

10. Applicable Law and Jurisdiction

All agreements are exclusively governed by Dutch law. Disputes will be exclusively submitted to the competent court in Rotterdam.