GENERAL TERMS OF SALE

The following terms will govern all the contract of sale between the company Coremo Ocmea SpA (named Coremo for brevity in the following text) and the Customers; the Customer is always the company whom the goods are invoiced, even if those same goods are resold to third parties by the Customer. Different conditions may apply to specific commercial transactions only if they have been agreed and confirmed in writing by Coremo. No representative agent can change these sale terms without previous confirmation written and signed by Coremo Sales Director.

PRICES

The price written on the order acnowledgement sent to the Customer by Coremo is the only valid price for that specific purchase order. VAT and other eventual taxes are not included in Coremo prices and they will be separately charged to the Customer. The prices are to be considered ex Coremo works based in Assago (MI), Italy. The transport from Coremo works to the Customer is not included and the goods always travel at Customer’s risk. The packing of the goods is included in the price; the best packaging for a safe transport of the goods will be chosen by Coremo. The minimum invoice value for any order is Euro 100,00.

PAYMENT TERMS

The payment term written on the order acnowledgement sent to the Customer by Coremo is the only valid payment term for that specific purchase order; the payment term may be subject to alteration by Coremo without notice to the Customer. Credit is granted at Coremo’s discretion and can be revoked anytime. The goods are invoiced when they are ready for shipment. All payments has to be done in Euro currency. Delays in goods transport can’t cause a delay of payment terms in any case. Coremo reserves the right to charge interest at the rate of 1,5% per month for overdue accounts.

TITLE

The ownership of the goods remain with Coremo until payment in full for all the goods has been received by Coremo in accordance with the terms written on the order acnowledgement. If such payment is not received, in whole or part or immediately on the commencement of any act or proceedings in which Customer’s insolvency is involved, Coremo reserves the right to recover and resell the goods.

DELIVERY

The delivery term written on the order acnowledgement sent to the Customer by Coremo is the only valid delivery term for that specific purchase order and Coremo will respect it except cases due to reasons beyond its control. Coremo doesn’t accept any liability for any financial or other loss (wheter direct or indirect) caused to the Customer if the delivery is nevertheless delayed. If Coremo is asked by the Customer to store goods or if Coremo has to store goods due to delays in payment after the goods are ready for despatch, the Customer will pay storage and all other charges. When receiving the despatched goods the Customer has to notify eventual damaged or missing goods to the forwarder and to describe them in writing on the delivery note. Verbal claims will not be accepted in any case.

WARRANTY

Coremo guarantee products of its own manufacture against defective workmanship and materials for a period of 12 months from the invoice date. All warranty claims must be submitted to Coremo in writing within 5 working days from discovery of defects; the products considered defective have to be returned freight prepaid to Coremo. As to products or parts which will be recognized defective after cross-examination between Coremo and the Customer, Coremo’s sole responsability hereunder is to repair or replace said products or parts free of charge without any other cost or damage could be claimed by the Customer. The warranty will not apply to any product which has been subject to misuse, misapplication, neglect (including but not limited to improper maintenance and/or storage), accident, improper installation, modification (including but not limited to the use of not original unauthorized parts or attachments), improper adjustment or repair. All the parts subjected to normal wear are out of the warranty.

CONFIDENTIALITY

All drawings, designs and any other information which Coremo supply in connection with a quotation or order acknowledgement are strictly confidential. They remain the property of Coremo and must not be disclosed to any third party without Coremo’s written permission.

CANCELLATION

In case of Customer’s written cancellation of a purchase order regarding standard products, a cancellation charge will be made to the Customer; the charge will be quantified at Coremo’s discretion depending on the specific features of the cancelled order. The purchase orders regarding special or customized products can’t be cancelled in any case and will be totally invoiced to the Customer anyway.

WITHDRAWAL FROM THE CONTRACT

In the case it is reasonably foreseeable that the Customer will not be able to ensure the payment of the goods, as well as in case of bankruptcy, composition with creditors, liquidation or sale of the Customer’s company, Coremo reserve the right to withdraw from this sale contract with a written letter to the Customer.

APPLICABLE LAW

This sale contract shall be governed in all respects in accordance with the laws of Italy. For any controversy the only competent court is the Court of Milan, Italy.