GENERAL TERMS OF SALE

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Section 1 – General provisions

1.1 In these General Terms are understood by:

      the Seller: Polyplastica B.V.;

      the Buyer: Any party which enters into an agreement of purchase and sale with the Seller:

1.2 These Terms apply to all tenders and agreements of the Seller. The obligations of the Seller. The        

      obligations of the Seller take effect only after a written order confirmation has been issued. General Terme of

      the Buyer, if any, do not apply. This is different only if one or several  provisions of the General Terms of the

      Buyer have been issued. General Terms of the Buyer have espressly been accepted by the Seller. Any

      agreements that deviate from these Terms are ineffective unless they have been explicitely confirmed in

      writing by the Seller. The buyer cannot derve any rights for future agreements from agreed upon deviations

      from these terms.


Section 2 – Conclusion of the agreement

2.1 All tenders by the Seller are without any engagement: the data and appendices provided by the Seller are of 

      an informative nature and do not bind the Seller.

2.2 The agreement between the Seller and the Buyer is concluded only if and in so far as the Seller has forwarded

      a written order confirmation, unless the Seller has started immediately after the Buyer’s order with the   

      execution of that order, in which case the invoice is also considered as a written confirmation of the order.

      This means, among other things, that a tender offer can be revoxed within 4 days after acceptance, without

      an agreement having been concluded.


Section 3 – Measures and weights

3.1 The measures and weights as mentioned in the measuring or weighing bills submitted by the Seller are

      binding for the quantity delivered.

3.2 The Buyer always has the right to be present or to be represented at the measuring or weighing in for

      verification of such.

3.3 The Seller always reserves the tolerances that are usual within its business with regard to all measures and 

      weights.


Section 4 – Packaging

4.1 If packaging is made available on loan by the Seller to the Buyer, the packaging conditions of the    

     “Association of Traders in Chemical Products” and of the “Association of the Dutch Chemical industry” apply,

      which conditions are part of these terms and have been attached to these terms.


Section 5 – Delivery and risk

5.1 The agreed upon delivery period is an indication only, so that it does not apply as a deadline and the Seller is

      autorized to deliver around the agreed upon date, barring force majoure (section 10). In the event of late

      delivery the Buyer must offer the Seller a reasonable Period within which delivery must take place.

5.2 The incoterms 1990 apply to the delivery. Unless otherwise agreed upon in writing, delivery takes place ex the

      works or storage location to be designated by the Seller. The Seller is entitled to designate the transport

      method up to the place of delivery and to designate the carrier(s). Any special transport method requested by

      the Buyer are at the Buyer’s expense.

5.3 All goods, including those which are delivered free of charge, travel at the expense and risk of the Buyer,

     unless otherwise agreed upon in writing.

5.4 If the Buyer does not or not timely meet its obligations, e.g. in the event of late acceptance og delivery, the

     Seller is entitled to entirely or partly suspend its obligations from the agreement or to dissolve all or part of the

     agreement, all this while reserving all other rights of the Seller.


Section 6 – Prices

6.1 Unless otherwise agreed upon, all prices apply ex factory or ex the place of storage if specified.

6.2 If Changes occur in one or several cost price factors – such as coats of materials, wages and gerates – after

     the agreement had been concluded, the Seller is entitied to take this into account .


Section 7 – Payment

7.0 The Buyer is obliged to pay the amount of invoice in full and on time. The Buyer is not entitled to pay the

      invoice by means of settlement. Payment must be made within fourtheen (14) days after the date of invoice,

      unless agreed otherwise and mentioned in the order confirmation.

      If the Buyer does not (timely) fullfil its payment obligations, Buyer will then be in default immediately and

      without any further notification being required to settle payment, and the Seller will then be entitled to

     charge an interest of 1% (one per cent) per month over the outstanding amounts from the maturity date of the

     invoice to the date of payment in full.

7.1 Without prejudice to the other rights of the Seller, the Seller, if the Buyer fails to pay in time or if the Seller

      has a motivated doubt concerning the Solvency of the Buyer, is entitled to demand immediate payment of all

      unpaid invoices, to suspend further deliveries, or to demand sufficient security for payment Suspension of

      (part of) a payment because of an (alleged) counter-claim is allowed only if the Seller has agreed thereto in

      writing. There is question of a motivated doubt concerning the solvency of the Buyer in the event of

      (provisional) suspense of payment or bankruptcy of the Buyer or in the event of publications a possible doubt

      about its solvency can be derived.

7.2 In the circumstances mentioned in the previous section the Seller is entitied moreover to dissolve the

      agreement with the Buyer immediately and without any intervention by any judicial instance, to suspend all or

      part of its obligations, without prejudice to the Seller’s right to compensation for the damage suffered.

7.3 If the Buyer remains in default, the Seller will be entitled moreover to charge the Buyer extra-legal debt

     collection costs in accordance with the debt collection rates advised by the Dutch be Association .


Section 8 – Reserve of ownership

8.1 All deliveries are made under reserve of ownership. The ownership of goods brought into the power of the

      buyer do not pass onto the buyer until after the buyer has fullfilled all claims concerning the counter-

      performance for these goods, for the work carried out or to be carried out for the benefit of the buyer in virtue

      of the same agreements, for interest and collection costs as well as with regard to claims because of

      shortcomings in the fullfillment of the agreement.

8.2 If the buyer fails to fullfill its payment obligations or has difficulties meeting its payment obligations, the seller

      is entitled to take back the goods of wich the ownership has not yet passed onto the buyer and wich are still

      present on the buyer’s premises, without prejudice to the seller’s other rights.

8.2 Les ventes en France: Le vendeur conserve la propriete des blens vendus jusqu’au payment effectif de

      l’integrailte du prix en principal et accessoires. B en cas de revento le vendeur conserve egalement la

      possibilite de revendiquer le prix des biens detenus par le sous-acquereur. La reserve de propierte est

      reportee sur le prix de revente. Des la invraision, les risques de tout nature y compris de cas fotult et de force

      majeure, et la garde sont transferes a l’archeteur. Efaut de paiement de l’une quelconque des echeances peut

      entrainer la revendivcation das biens.

8.3 For sales in the United Kingdom : the title of the goods shall pass to the buyer only when payment in the full

      has been received by the seller for all goods whatsoever supplied (and all services rendered) at any time by

      the seller to the buyer. The buyer shall permit the servants or agents of the seller to enter on to the buyer’s

      premises and reposses the goods at any time prior thereto. As long as payment has not been effected the

      buyer cannot sell, pledge or offer goods as guarantee or collateral security. Should the goods (or any of them)

      be converted into a new product, whether or not such conversion involves the admixture of any other goods or

      thing whatsoever and in whatever proportions, the conversion shall be deemed to have effect on behalf of the

      seller and the seller shall have the full legal and beneficial ownership of the new products, but without

      accepting any liability whatsoever in respect of such converted goods in relation to any third party, and the

      buyer hereby indemnifies the seller in relation thereto. In the case of non-payment at the due date and upon

      demand the buyer must return forthwith to the seller all merchandise unpaid for.


8.4 Bis zur vollen Bezahlung samtlicher, auch der zukunftigen forderungen des Verkaufers gegen den Kaufer,

      gleich aus weichem rechtsgrund, insbesondere auch der Saldoforderung aus laufender rechnung, sowie bis

      zur einlosung der dafur hingegebenen wechsel und schecks, bleibt die Ware Eigentum des Verkäufers. Ein

      Eigentumserwerb des Käufers. Ein Eigentumserwerb des Käufers gem. § 950 BGB im Felle dar Be-oder

      Verarbeltung der Vorbehaltsware zu einer neuen Sache ist ausgeschlossen. Be- und Verarbeltung der

      Vorbehaltsware erfolgen durch den Käufer für den Verkäufer. Bel verarbeltung mit anderen, nicht dem

      Verkäufer gehöranden Waren durch den Käufer steht dem Verkäufer das Miteigentu an der neuen Sache zu im

      Verhältnis des Rechungwertes der Vorbehaltsware zu den Rechnungswerfen der anderen verarbelten Waren.

      Erwibt im Falle der Verbindung oder Vermischung der Vorbehaltsware mit anderen Waren der Käufer das

      Alleinegentum nach §§ 947 Abs. 2, 948 BGB, so wird bereits jetzt vereinbart, dess das Eigentumsrecht das

      Käufers an der einheltlichen Sache bzw. An dem vermischten Bestand Im Verhältnis des Rechnungwertes der

      Vorbehaltsware zu den Rechnungswerten der anderen verarbeiteten Waren. Erwibt im Falle der Verbindung

      oder Vermischung der Vorbehaltsware mit andere Waren der Käufer das Alleineigentum nach §§ 947 Abs. 2,

      948 BGB, so wirdbereits jetzt vereinbart, dass das Eigentumsrecht das Käufers an der einheltlichen Sache bzw.

      An dem vermischten Bestand im Verhältnis des Rechnungswertes der Vorbehatsware zu den

      Rechnungswerten der anderen enthaltenen Waren auf den Verkäufer übergeht und dass der Käufer dieso

      Sachen unentgeltlich für den Verkäufer verwahrt. Für die aus der Verarbeitung, Verbindung oder Vermischung

      entstehenden Sachen gilt sonst das gleiche wie bei Vorbehaltsware. Sie gelten als Vorbehaltsware Im Sinne

      dieser Bedingungen. Der Käufer darf die Vorbehaltsware nur im Rahmen seines ordnungsgemässen

      Geschäftsbetriebes veräussem. Er ist zur Weiterveräusserung der Vorbehaltsware nur mit der Massgabe

      berechtigt und ermächtigt, dass die Fordurungen aus der Weiterverausserung, wie nachfolgend vorgesehen,

      auf den Verkaufer ubergehen. Zu anderen Verfugungen uber die Vorbehaltsware ist der Kaufer nicht

      berechtigt. Insbesondere darf er die Vorbehaltsware nicht verpfanden oder zur Sicherheit ubereignen. Die

      Forderungen des Kaufers aus dem Weiterverkauf der Vorbehaltsware werden bereits jetzt an den Verkaufer

      abgetreten, and zwar gleich, ob die Vorbehaltsware ohne oder nach Verarbeitung. Vermischung oder

      Verbindung und ob ale an einen oder mehrere Abnahmer verkauft wird.

 

Wird die Vorbehaltsware vom Kaufer zusammen mit anderen, nicht dem verkaufer gehorenden waren verkauft oder wird die vorbehaltsware nach verarbeitung oder vermischung mit dem verkaufer nicht gehorenden waren verkauft, so gift die abretung der kaufpreisforderung nur in hohe des rechnungswertes des vorbehalisware, die mit den anderen waren gegenstand dieses kaufvertrages oder teil des kaufgegenstandes ist. Wird
die vorbehaltsware nom kaufer zur erfullung eines werk- order werkdiafarungvertrages verwandt, so wird die forderung aus dem werk- order werklieferungs-vertrag im gleichen umfang im voraus an den verkaufer abgetreten, wie es in absats 5 und 8 bestimmt ist.

Pfandungen und anderen eingriffe dritter, durch welche die auf dem eigentumsvorbehalt beruhenden rechte des verkaufers beeintrachtigt werden, hat der kaufer dem Verkaufer unverzuglich mitzuteilen, der kaufer hat die vorbehaltsware gegen feuer and diebstahl zu versichem und dies dem verkaufer aufverlangen nachzuweisen. Der Kaufer tritt seine eventuellen versicherungsanspruche wegen beschadigung. Zerstorung oder diebstahis der vorbehaltsware bereits jetzt an den verkaufer ab, allerdings im falle der verarbeltung, vermischung mit fremder ware nur in hohe des eigentumsantells des verkaufers an der vorbehaltsware. Der kaufer ist ermachtigt, die abgetretenen forderungen bis auf jederzeltigen widerruf einzuziehen. Zur abtretung dieser forderungen ist er nicht befugt.

Der verkaufer wird von dem widerrufsrecht keinen gebrauch machen, solangs der Kaufer seinen zahlungsverplichtungen ordnungsgemass nachkommt. Auf verlangen des verkaufers hat der Kaufer seine abnehmer von der abtretung an den verkaufer zu unterrichten und dem verkaufer die zur einziehung der forderungen erforderlichen auskunfte und unterlegen zu geben. Die berechtigung des kaufers zur verarbeitung, vermischung oder verausserung von vorbehaltsware sowie die ermachtigung zur einziehung der abgetretenen forderungen erloschen in jedem falle mit der
zahlungseinstellung des kaufers. Der verkaufer verpflichtet sich, die ihm nach den vorstehenden bestimmungen zusthenden sicherhelten auf verlangen des kaufers inscweit freizugeben, als ihr wert die zu sichernden forderungen um mehr als 20% obersteigt. Es bleibt der wahl des verkaufers vorbehalten, welche sich erhalten er freigeben will. Sowait die vorstehenden. Bedingungen ober den eigentumsvorbehalt mit den ubrigen
geschaftsbedienungen des verkaufers nicht in einklang stehen, gelten ausschliesslich die vorstehenden bedingungen. Sollte eine der vorstehenden bestimmungen nichtig sein, so wird die guttigkeit der ubringen bestimmungen hiervon nicht beruhrt.


Section 9 – Warranty and claims

9.1    The Seller grants no other warrant on the goods sold than those described below.

9.2    The Seller warrants that the goods sold will comply with the product specifications as mentioned in the order

         confirmation. The Buyer bears the risk and is liable for the consequences of the use of the goods, regardless

         whether these are used separately or in combination with other goods. Under no circumstances will the

         Seller´s liability extend  beyond the provisions in subactions 3, 4 and 7 of this section.

9.3    The warranties mentioned will apply to the goods in an unworked state only.


9.4.1 The Seller is not held to compensation for any damage suffered by the Buyer or by third parties except for

        the provisions in sections 9.1 to 9.3, 9.5 and 9.7. In particular the Seller is not held to compensate for direct

        or indirect losses, including consequential loss and business interruption loss, which are caused by faults in

        the goods delivered by the Seller or advice given by the Seller. Evident defects and/or damage within 8

        (eight) days after the date of delivery or the date fixed for the delivery, any right of the Buyer to

        compensation for any damage whatsoever becomes void. This means that the Buyer must inspect the goods

        sold within 8 days after the said date, this in connection with the nature of the goods delivered


9.4.2 An appeal by the Buyer to clearly visible shortages, damage or other visible defects in the goods delivered

        cannot be exercised towards the Seller if the Buyer has not made an entry of those shortage, damage or

        defects on the delivery ticket or the transport document, or has not had the carrier write a report thereof.

        Such an appeal cannot be made against the Seller if the Buyer has not reported this to the Seller within 24

        hours after the delivery.This means that the Buyer must inspect the goods sold immediately after the delivery

        for visible shortages, damage or other clearly visible defects.

9.4.3 Evidence that the goods delivered do not comply with the agreement must be provided by the Buyer.

9.4.4 Unless the Seller has expressly ruled otherwise in writing, the Buyer is not entitied to settle any claim for

        damages for whichever reason or any claim concerning interest or coats incurred against any unpaid invoices

        from the Seller.

9.5   The Seller´s Liability is limited to the amount which is paid in the damage event concerned by the Seller´s

        insurer. If the insureer, for any reason or any whatsoever, does not proceed with payment, the liability is

        limited to the amount of invoice, with a maximum of Eur 45.000.-. This section does not apply if the damage

        is the result of intent or grose fault of the Seller or of its employees in leadership functions.

9.6   Unless with written permission form the Seller, the Buyer is not entited to return goods to the Seller.

9.7   The Buyer is held to keep harmless and protect the Seller against any damage and claims that may arise for

        the buyer as a direct or indirect consequence of claims of third parties on the Seller of on the Buyer.

9.8   Without prejudice to the above provisions, the Seller, if it has acquired from a third party the goods delivered

        to the Buyer, will under no circumstances grant more warranties on these goods than it has obtained itself

        from that third party.

9.9   The seller guarantees with regard to the millenium problems that it will exercise utmost care in the choice of

        products and for services from third parties wich are necessary for the execution of the agreements, but that

        it declines any liabillity if due to millenium problems in those products and/or services from third parties

        and/or services. The seller fells (partly) to fullfill its obligations.


Section 10 – Force Majeure

10.1 In the event that the seller is prevented due force majeure from complying fully or partly with the

       agreement, it will be entiteld to suspend the execution of the agreement or to dissolve the entire agreement

       or the part of it wich has not been executed.

10.2 By force majeure will be understood, amongst other things, war, risk of war, mobilization, riot, state of siege,

       strike or lock-out, fire, accident or illness of personnel, operational breakdown and reduction of production,

       lack of packaging material, transport stagnation, import restrictions or other goverment-imposed limitations,

       as well as any obstructing circumstance which does not depand exclusively on the seller´s will, such as late

       delivery of goods and services by third parties wich are used by the seller.


Section 11 – Applicable law

11.1 Dutch law is exclusively applicable to the tenders by the seller and the agreements to be concluded by it.

11.2 The Vienna Treaty on International Purchase agreements concerning movable properties of 11 april 1980 (the

        Vienna Puchase Treaty) does not apply and is hereby expressly excluded.


Section 12 – Miscellaneous

12.1 If any provision in these terms appear to be entirely or partly invalid, then the remaining provisions remain

        fully  in force. The parties undertake in that event to make instead of the invalid provision a new

        arrangement which approaches the invalid provision as much as possible.

12.2 An Dutch text of these terms also exists. The Dutch text prevalls over the English text.