Terms and conditions of Sale, Tankomar Ship Supply Ltd.

1. General
All deliveries , sales and services from Tankomar Ship Supply Ltd. are subject to the following terms and conditions of sale.
Any conditions which are given by any customer which are inconsistent with these conditions are excluded., unless they have been agreed in writing by Tankomar.

2. Quotations and delivery
All quotations are subject to written confirmation. The date of delivery is binding only if all technical and commercial details have been clarified by that time. Partial and early deliveries by Tankomar Ship Supply are permitted. The delivery time is deemed to be adhered to when the order has left towards it`s destination or the customer has been informed about the readiness of the order. If there is a delay of delivery due to unforeseeable events, which include force majeur, actions as part of industrial disputes or reasons beyond control of Tankomar Ship Supply Ltd. the customer is not entitled to any compensation and will not give the customer any right to claim damages.

3. Prices and payments
Prices quoted are ex works, unless stated otherwise, without VAT. Despatch and packing costs as well as transport insurance shall be borne by the customer. Minimum order value is Euro 50,--, in case orders are of less value there will be a small supplement added to bring the order up to this amount. Invoices to be paid within the agreed payment terms without any deductions, regardless of the time when goods are received by the client. Tankomar Ship Supply Ltd. reserves it`s right to alter prices and delivery time according to the market situation. In case of late payment interest of 5 pct. above normal bank interest charges apply. If Tankomar Ship Supply Ltd. has concluded a business, but feels that the customer may be in an economic unstable position, it reserves the right to ask for securities for the agreed price.

4. Passage of risk
All deliveries shall be effected at the risk of the customer.

5. Liability and title
Should the delivered item not to be fit to be used by the customer due to the fault of Tankomar Ship Supply Ltd., it has to be reported to Tankomar Ship Supply Ltd. immediately after receipt. The defective or unsuitable item shall be returned on Tankomar Ship Supply Ltd. request. Tankomar Ship Supply Ltd. reserves it`s right to repair or replace this item within the warranty period free of charge. Any and all claims and costs, no matter what legal reason, exceeding above will not be excepted. In the event that the customer is in breach of the contract and the supplied goods to be returned a restocking charge of minimum 20 pct.of the order value Is applicable. Tankomar Ship Supply reserves title to the goods until receipt of full and final payment.

6. Confidentially
The customer undertakes to treat all information, know how and other secrets in connection with the execution of the order in strict confidence and not to pass on or make available any information, documentation or other papers to third parties without the written permission of Tankomar Ship Supply Ltd.

7. Applicable law
The law of the Republic of Cyprus shall apply to the contractual relationship between Tankomar Ship Supply Ltd. and the customer.