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174 General conditions General conditions of Sale of the private company with limited liability Van Beest BV, established in Sliedrecht Version: AL 5/2012 Article 1 General These General Conditions are applicable to all agreements concluded by Van Beest B.V. (hereinafter referred to as: “Van Beest”) with third parties (hereinafter referred to as: the “client”). The trading conditions of the client are not accepted by Van Beest. Article 2 Offers 2.1 Quotations made by or on behalf of Van Beest are without obligation and are based on data, drawings et cetera provided by the client, if any. 2.2 The prices stated by Van Beest are based on the price determining factors valid at the time of the quotation , including government levies and wages, calculated according to the usual working times adhered to by Van Beest. If one or more of these cost price factor changes before the offer is accepted, - including changes due to fluctuations in the exchange rate of foreign currency - even if this is a result of foreseeable circumstances, Van Beest is entitled to modify the price quoted accordingly. Van Beest will inform the client accordingly in that case. Article 3 Agreements 3.1 Orders accepted by agents, representatives, commercial travellers and intermediaries will only become valid after they have been confirmed in writing by Van Beest, i.e. by a document signed by both parties, or by letter, fax, e-mail, or any other instrument as agreed by both parties. 3.2 All drawings, calculations, plans, systems, stamps and moulds, methods and other data will remain the property of Van Beest and may not be disclosed to third parties by the client without the prior written permission of Van Beest. 3.3 Price increases caused by production activities being delayed and/or made more difficult through no fault of Van Beest or as a result of an increase in one or more cost price factors, even if such increase has occurred due to foreseeable circumstances, or as a result of government regulations coming into force, will be for the account of the client. The client will be entitled to make modifications to the goods to be delivered after the conclusion of the agreement as well, but these will only be implemented if Van Beest judges that the production process so allows and provided that the client has stated in writing that he will pay all extra costs associated therewith. Article 4 Prices and Payment 4.1 The prices quoted by Van Beest in catalogues, price lists, et cetera are without obligation and may be modified without prior notification. Prices do not include turnover tax and are based on “ex works” Incoterms current on the date of the quotation. 4.2 All amounts due are payable within 30 days of the date of the invoice, unless agreed otherwise. Claims for a reduction or settlement will not be accepted. Any costs in connection with effecting payments via banks, conversion of currency, credit costs, etc. are at all times for the account of the client. 4.3 In the event of late payment the client owes interest, as from the due date of the invoice, equal to 3 points above the percentage of the current statutory interest in the Netherlands as referred to in Sections 6:119a and 6:120 Paragraph 2 of the Dutch Civil Code, while Van Beest will be entitled to suspend the fulfilment of its obligations by the amount of time by which the payment has been delayed. Once Van Beest has passed on its claim for collection by third parties, the client will owe extra judicial costs of 15% over and above the amount due, including interest, without prejudice to the costs which the client is required to pay by law. Article 5 Delivery 5.1 The delivery time commences as from the latest of the following dates: a. the day of signing of Van Beest’s written order confirmation; b. the date of receipt of the instalment due under the order; c. the date of receipt of the technical data, documents and/or securities to be provided to Van Beest by the client. 5.2 Exceeding the delivery date does not entitle the client to compensation nor give it the right to demand cancellation of the agreement or to suspend fulfilment of its own obligations. 5.3 In the case of mass production by Van Beest or its suppliers of products which deviate from the standard products in the production range, Van Beest will be entitled to maintain a margin in respect of the delivered products of 5% above or below the number of products ordered. Article 6 Risk and Retention of Title 6.1 The risk with regard to damage, theft, loss, etc. of the products passes to the client at the moment when the products are delivered at the client. 6.2 The ownership of the products manufactured by Van Beest and delivered to the client will be transferred to the client once he has paid all that Van Beest is owed in respect of deliveries or services, including the interest and costs, or once he has provided satisfactory security for the fulfilment of his obligations. For as long as this is not the case Van Beest will remain entitled to repossess the products it has delivered. All costs connected therewith will be for the account of the client. The client is not entitled to deliver products to third parties that have not been paid for, except in the normal course of business. Article 7 Security 7.1 Notwithstanding the agreed conditions of payment, Van Beest will be entitled at all times to demand security from the client for the fulfilment of his obligations before commencing delivery or before continuing a delivery that has already commenced.