GENERAL TERMS OF BUSINESS

Article1 General

Sales tax is not displayed as a separate item on the invoice with reference to the small size company regulation in Article 19 UStG (German Sales Tax Law). Please retain the invoice for the term specified in Article 14b sub-section 1 sentence 5 UstG

1. All supplies are made and services provided by ClassiKnau, hereinafter referred to as CK, exclusively on the basis of the following terms and to the exclusion of any contrary terms of the customer.

2. All correspondence should be in German language.

Article 2 Offers, scope of supplies and services

1. CK stopwatch sets and shop articles can be obtained by placing an order (inquiry form) followed by our order confirmation. Orders of stopwatch sets and shop articles should specify the exact model data (special requests, if any) as well as the customer’s name and the full address and, where relevant, the telephone number.

2. The scope of the supplies or services contracted with a customer is defined exclusively in the order confirmation by CK. All offers by CK are without engagement.

3. Changes of the design, the choice of materials, the specification and the construction type are reserved by CK, including after the order confirmation provided the changes are not in contradiction with the order confirmation or the customer’s specification. The customer agrees to any additional changes by CK if customer can be expected to tolerate the changes.

4. All documents such as illustrations, lists of dimensions and weights, on which an offer is based, are normally only approximate unless expressly agreed as being binding.

Article 3 Prices, terms of payment and delay of payment

1. All prices, at the statutory rate, are ex-works prices and are specified in Euro currency.

2. Payment exclusively before delivery by transfer or Paypal.

Article 4 Acceptance and delay of acceptance of special designs

1. If the customer fails to accept a product made to his specifications, CK can grant a reasonable additional period at the end of which CK can dispose of the product in its discretion. The rights of CK to withdraw from the contract or claim damage for non-performance after granting an additional period of time and refusal (section 326 BGB – German Civil Code) are not affected. CK can claim damage in an amount equal to 50% of the agreed price, excluding value-added-tax, without being required to submit proof of loss suffered unless it can be demonstrated that the damage has actually been lower. The claim to higher damage is reserved. The car makes logos are applied by ClassiKnau on the watch, the rights of the trademarks used are only lies with their owners.

Article 5 Offset and retention

1. Offset or retention for undisputed counterclaims of the customer, including claims recognized by declaratory judgement is excluded.

Article 6 Delivery

1. The time of delivery is at our best discretion but without obligation if the customer delays or fails to provide agreed cooperation.

2. Generally, delivery is made after agreement on the quantity to be delivered is reached. If a deviation occurs, the expected time of delivery will be communicated in writing.

3. Force majeure, strike, lock-out or delivery in supplies from contractors relieve CK from any liability, including from the liability of meeting an agreed delivery date.

4. All goods received shall be inspected for damage to the packaging and the condition of the package immediately upon arrival and in the presence of the forwarder. Any damage to the packaging and / or loss of content shall be documented in details and signed by the customer and the forwarder.

Article 7 Retention of title

1. CK retains title to the delivered goods until full payment is received. The retention of title is also valid until all payments relating to the business between the customer and CK have been received, including future and conditional claims.

2. The customer is not permitted to pledge or assign the goods as security; the customer can sell the goods subject to reservation in the ordinary course of business. All claims thereby created on the customer’s business partners are hereby irrevocably assigned to CK. If goods are processed or changed by the customer, the retention of tile also extends to the new thing as a whole. The customer acquires co-ownership in the proportion of the value of his goods to the goods delivered by CK.

Article 8 Warranty and guarantee

1. The warranty period for new CK articles is 24 months from the end of the month in which the article is bought; no warranty is granted for second-hand articles, for example, second-hand clocks or watches; these goods are purchased ‘as seen’. No warranty or return according to European law can be granted and is expressly excluded hereby.

2. The customer shall inspect the goods immediately upon receipt and inform CK without delay of any defect found. If the customer fails to inform CK as above, the goods are deemed to be free of defect or fault unless the defect / fault is such that it could not have been detected during inspection.

3. Warranty claims are limited, in the discretion of CK, to repair of the defective parts or replacement.

4. No warranty claim is accepted if the customer or a third party makes unauthorized changes to the goods.

5. Also excluded are any further claims by the customer, including claims for consequential damage unless they are the result of the lack of an assured property. Further excluded are all other claims by the customer, including claims for consequential damage and damage in connection with the execution of repairs or replacement unless gross negligence or intent are involved.

Article 9 Concluding provisions

1. The application and interpretation of these General terms of Business and Sale as well as the conclusion and interpretation of any legal business are exclusively subject to the laws of the Federal Republic of Germany. The application of the uniform law regarding the conclusion of international sales contracts relating to movable objects according to the UN Convention on the International Sale of Goods (CSIG) are excluded, even if their application is foreseen in the customer’s general terms of business.

2. The legal venue for all claims, present and future, from the business relations under fully qualified merchants, including claims based on a bill of exchange or claims based on cheques is Gera, Germany. The same legal venue applies if the customer has no general place of jurisdiction within Germany, relocates his residence or his habitual residence abroad after the conclusion of contract or his residence or habitual residence is unknown at the time of raising a claim.

3. The place of performance of all obligations resulting directly or indirectly from the contractual relation, including the payment obligations, is Gera, Germany.