NORDBID NORGE AS
Porsgrunn, Norway
VAT: NO922719160

GENERAL TERMS AND CONDITIONS

1. DEFINITIONS

"NORDBID / Seller": Nordbid Norge AS, Porsgrunn, Norway; registration number 922719160

"Customer / Client / Buyer": the contracting party of NORDBID

"Agreement / Order / Proforma / Invoice": written agreement by means of which NORDBID sells Goods to the Customer. Including these terms and conditions, the invoice, the order, the proforma and any written purchase agreement (if issued)

"Objects / Goods": all items which will be sold / were sold by the Seller

2. GENERAL

These terms and conditions apply to all agreements, offers, orders, sales, contracts for services, deliveries and other legal relationships, including negotiations regarding such agreements with NORDBID, unless otherwise stated in the offer or agreement. This applies regardless of whether NORDBID acts as a middleman between the former owner and the purchasing party, or may temporarily hold ownership of the goods for the purpose of facilitating their resale

The applicability of additional clauses or terms /conditions used or referred to by the Customer, or any other conditions customary in the industry, do not apply unless accepted in writing. Only these terms and conditions apply to agreements NORDBID is a party to. Additions or exceptions must be agreed in writing and apply only to the specific agreement.

The Act on the Purchase of 13 May 1988 No. 27 (Kjøpsloven) does not apply to the legal relationships with NORDBID unless expressly stated otherwise in the agreement or in these terms and conditions. In the event of inconsistency between the Purchase Act and these terms and conditions of sale, the NORDBID terms and conditions applies.

The other party must at all times refrain from money laundering, corruption, terrorist financing and onward delivery to sanctioned persons/countries.

The Customer confirms that the purchase is made in the course of business and that Customer acts as a professional market participant.

The Customer confirms that consumer protection laws do not apply to this transaction.

Seller is not responsible for compliance with regulations in the Customer's country.

Seller is not liable for Buyer's errors in decisions and / or misunderstandings of legal rules or the Agreement /Terms & Conditions

Seller may modify Terms and Conditions at any time. Updated Terms and Conditions apply to all future transactions.

If any provision of these Terms and Conditions is not valid, the other provisions will remain in full force.

The Client is required to be actively involved at each phase of the purchasing and delivery process and to supply any information requested by the seller.

3. OFFERS AND AGREEMENTS

All offers are without obligation and for indicative purposes only unless otherwise agreed on in writing. NORDBID can revoke any offer at any time without any deadline . All statements, quotations, orders, advertisements, images and other information including but not limited to Goods technical condition, technical information, options, mileage, production date and etc are made with due care but does not guarantee it is up-to-date, correct and/or complete. The other party cannot derive any rights from this.

Any errors in this information do not entail any liability on the part of NORDBID.

Signatures on agreement / order / proforma / invoice are not considered legally binding.

Agreement consists of these Terms and Conditions, Order or Proforma or Invoice, any attachments, Purchase Agreement (if issued).

An agreement is concluded and these terms and conditions are accepted by the Customer then NORDBID has created order or proforma or invoice. Seller reserves the right to terminate the order / proforma / invoice at any time without stating any reason and without obligation to pay any compensation. Seller may terminate the agreement if there is doubt about the identity or source of funds of the counterparty.

Client's orders and acceptances are deemed irrevocable. Cancellation is only possible with NORDBID's written consent and may require payment of cancellation costs of 10% of the invoice (excluding VAT). In the event of such a cancellation, any down payment will, in any case, be forfeited (in the form of a fine, without prejudice to NORDBID's right to compensation). The client, therefore, agrees in advance to the loss of the down payment in the event of cancellation by the client. If the changes and/or additions required by the client entail additional costs for Seller, Seller will be entitled to charge these to the client in full. In that case, NORDBID will also be entitled to determine a new delivery time. Cancellation is impossible if the order concerns objects specially adapted, composed or loaded (including stacking) for the client or services/work performed specifically at the client's request.

These terms and conditions of sale are part of the order and the parties' agreement. For every order Seller's general terms and conditions apply regardless of whether the customer has referred to their own conditions in connection with the order.

4. PRICE

Prices are netto prices, exclusive of VAT and other charges, based on delivery from location stated on the order (EX WORKS). Prices are quoted in Euros. Exchange rate differences are at the other party's risk. Delivery costs and shipping are not included in prices unless expressly agreed.

The Client is personally responsible on his own costs to prepare all mandatory documentation and transport permits / plates (including but not limited to export/ import /transit declarations, EU approval, insurance, transport permits / plates, any type of certificates and etc) to all relevant Authorities and fulfill all required Customs procedures together with payment of all Customs and other taxes in connection with transport /export / import of any Goods. The Client is responsible for registration of Goods, if it is required by the law.

Transport permits are the responsibility of the Customer: any EU approval (technical inspection) of motor vehicles or other necessary permits for takeover or use of the Goods are the responsibility of the Customer unless otherwise stated by the Seller.

The Customer has agreed to the purchase price, which is considered by the Customer to accurately reflect the fair value of the goods.

NORDBID may charge through changes in price levels (supplier prices, freight, exchange rates, import/export duties, insurance costs, labor costs, etc.). The seller has the right to pass on the full price change to the buyer in the event of increased costs.

If a price increase exceeds 10% within 3 months after conclusion of the agreement, the client may dissolve the agreement. Price lists may be changed at any time.

5. PAYMENT

All invoices must be paid BEFORE delivery.

Payment term: within 10 days after order / proforma / invoice date, unless otherwise agreed.

A deposit of at least 10% of the purchase price (minimum €1.500,- per Object) must be paid within 2 business days from order / proforma / invoice date. Goods are only considered sold once deposit is received.

DEPOSIT REFUNDS WILL NOT BE ISSUED if the Customer cancels the purchase.

Late payment: 2% interest per month (with part of the month being regarded as a full month), plus €30,- storage / parking / administration costs per Object per day.

The other party is in default solely by the passing of the payment term (without notice of default required). Collection costs of 10% of the outstanding invoice amount (minimum €300,-) are also due, as out-of-court costs. And the judicial collection costs on the amount actually paid by NORDBID in connection with the procedure. The Customer has no right to suspend, set off or postpone any payment. Incoming payments first cover all interest and costs due, then the oldest principal amount, even if the Customer declares otherwise in this regard.

For all exports, a security deposit equal to Norwegian VAT may be required before delivery.

Seller is entitled to postpone new deliveries until the client has met all its outstanding payment obligations.

NORDBID is entitled to offset everything the Customer owes to NORDBID, regardless of whether it is due yet against amounts that NORDBID owes to the Customer.

6. DELIVERY

The delivery date and time is determined by NORDBID.

Specified delivery dates are indicative only and never deadlines. Exceeding a delivery period does not entitle the other party to any compensation, damages, or non-performance of its obligations.

Delivery is always EX WORKS (Incoterms 2020) from location stated on the Order / Proforma / Invoice, unless agreed otherwise.

The risk for sold Goods transfers to the Customer upon delivery.

All objects will be transported at the expense and risk of the Customer, even if the shipment is carriage-paid (CPT)

Delivery is deemed to have taken place at the moment the Objects have been collected by the Customer (or his Transporter / Representative) at location stated on Order / Proforma. If the Customer does not take delivery of the Objects, the Customer will immediately be in default, and the Objects will be stored at its expense and risk.

The Goods must be collected up within 2 weeks after invoice date. Seller reserves a right to charge €30,- storage / parking / administration costs per Object per day.

At least 3 working days before collection, the other party must communicate this in writing and receive confirmation from the Seller.

The Customer is in full responsible for Object's required export and import procedures at his own costs. If export or import proves impossible, this is entirely at the Customer's risk and expense.

The Customer is obligated and encouraged to take his own transport insurance coverage for the Object from the moment of delivery. If any damage occur during delivery, a claim must be submitted with the carrier without delay.

If, under Customer's request, NORDBID arranges shipment of the Objects (exclusively only Objects sold by Seller), Seller will be exclusive in its right to determine the date, way of shipment and shipping route. Transport insurance will only be taken out by NORDBID at the request from the Customer, and all associated costs will be payable by the Customer.

If the Customer refuses to take delivery of the Objects within the period specified by Seller then Seller will be entitled to fully dissolve the agreement and to sell the Objects without being liable to pay for compensation. NORDBID is entitled to recover its claim against the client and from the proceeds.

If the Goods have registered mortgages or encumbrances that the Seller is responsible for removing, the Buyer should understand that this removal sometimes cannot happen until after the Goods have been sold — for example, to avoid additional mortgage charges building up while the Goods are still listed for sale. Removing mortgage charges usually takes between 1 and 4 weeks and will be handled by the Seller. If further encumbrances are added during the period between listing the Goods for sale and receiving payment, this may take longer than the usual time needed to remove the mortgage encumbrances.

For certain tasks that the Seller helps with (such as removing encumbrances or re-registering vehicles), the Seller depends on third parties, including public registers, mortgage holders, and trustees. The Seller has no control over how quickly these third parties work or whether their services are available. The Seller is not responsible for any delays caused by these third parties, or for delays resulting from other circumstances beyond the Seller's control — any such risk is borne by the Buyer.

7. WARRANTY AND COMPLAINTS

NORDBID does not provide any kind of warranty.

The objects delivered by NORDBID meet the specifications established in the associated Order / Proforma / Agreement.

Specific warranty on used Objects can only be given if specifically stated on the Order / Proforma / Agreement.

The Customer is aware that NORDBID cannot guarantee against any type defects. This is because used Goods may have (hidden) defects. In this instance, the parties declare that non-conformity or default on the part of NORDBID does not apply. The client must thoroughly check the Goods for defects prior to final delivery, whereas NORDBID will always report any defects it is aware of.

Warranty claims are not transferable to third parties.

The Customer has the right and is urged to test and inspect Goods on own account before purchasing or delivery. Objects are accepted in the condition "As is" at the time of concluding the Agreement, including any known or hidden defects. After deposit payment or full payment, the Customer cannot rely on any defects. No exchange of purchased items is possible.

Beyond what follows from the above, the seller has no liability for defects.

If the Customer chooses to pay the order / proforma / invoice without having inspected the Goods and accepted it "As is – where is – with all faults", this is at the Customer's risk. The Customer can therefore not put forward any claim against the Seller as a result of that the Customer has not carried out the necessary examinations of the Goods, including that the Customer cannot assert that the agreement is a distance sales contract.

The Customer waives any claim against Seller, its representatives and employees that may arise in connection with any sale agreement, including (but not limited to) any claim in connection with the description of the Goods.

The Customer confirms and accepts the following circumstances:

The Objects are sold "As is – Where is – With all faults"

Seller therefore assumes that the Customer carries out the necessary examinations of the Goods at the given location (the place where the Goods are located) before the Customer chooses to accept the Goods "As is"

The Objects are used / worn goods. Wear and tear must be expected. Defects may exist.

NORDBID acts as a middleman between the former owner and the purchasing party, or may temporarily hold ownership of the goods for the purpose of facilitating their resale.

NORDBID does not guarantee accuracy of mileage / work hours, service history, prior repairs, prior accidents, prior owner's history .

Seller does not guarantee any presence or performance of emission systems (EGR, SCR, AdBlue) and compatibility with regulations in foreign countries. The Client is responsible for verifying tachographs, ECU and emission systems.

Seller does not guarantee regarding vehicle software or electronic systems and is not responsible for telematics or data privacy issues

Seller's awareness of the goods is limited solely to the information that has been provided by the former owner.

Seller has not tested and/or inspected the Goods.

The Customer has been given the right to examine the Objects before purchase, seek assistance from professionals to inspect the Objects and request any documentation / information related with Objects

The Customer confirms having sufficient technical knowledge to assess the vehicle.

The Customer waives the right to claim cosmetic defects discovered before or after delivery.

NORDBID bears no any liability for any damage during transportation arranged by Buyer.

If before delivery, inspected Goods should have a defect or fault, the Seller reserves a right to repair the defect / fault within a reasonable time.

In case if any specific warranty was explicitly indicated in Agreement, the following rules applies:

7.1 The Customer must inspect goods before delivery. If Goods were non inspected by the Customer – Customer loses their right to invoke any complaint;

7.2 Only complaints about non-visible defects can be submitted after receiving of Good;

7.3 Complaints must be submitted latest within 5 working days of receiving the Goods;

7.4 Information should be supported by an accurate description of the complaint;

7.5 In the absence of a timely notification, the right to warranty/complain lapses;

7.6 If the Customer's complaint is considered to be well-founded by Seller, Seller will repair the Objects or grant a price reduction. NORDBID reserves the right to determine which repairs it will cover;

7.7 Defects caused by normal wear and tear are excluded from any form of warranty;

7.8 In opinion and decision by NORDBID - an improper handling and transportation, incorrect maintenance, or defects that occur after alteration or repairs carried out by or on behalf of the other party are excluded from any form of warranty;

7.9 The damage was caused by negligence on the part of the Customer is excluded from any form of warranty;

7.10 Submitting the complaint is not possible if the Customer has failed to fulfil its obligations towards NORDBID (financial and otherwise);

7.11 If a complaint is processed outside the cases described above, it is entirely voluntary without the client being able to derive any rights from it;

7.12 The handling of a complaint does not suspend the Customer's obligation to pay;

7.13 Any repairs require prior written approval from Seller;

7.14 Seller will not reimburse repairs conducted without approval.

8. RETENTION / RESERVATION OF TITLE

All Goods (paid and unpaid) sold by NORDBID remains its property until the Customer has paid in full all outstanding amounts, including interest and costs. In case of default, NORDBID may take back goods without judicial intervention.

Seller is authorized to suspend compliance with the obligation to hand over an object belonging to the Customer that it has in its possession within the framework of an agreement until the claim of Seller with regard to that agreement, including interest and costs, has been paid in full.

9. LIABILITY

9.1 NORDBID will not be liable for any damage or loss resulting from a failure to meet its obligations to the Customer.

9.2 The fulfilment of warranty and complaint obligations as outlined in these general terms and conditions constitutes the sole and exhaustive form of compensation available.

Seller is never liable to the Customer or any other party for indirect losses or any other consequential losses or damages. Losses such as downtime, loss of income, data, profits, dividends, turnover and similar — regardless of how the loss or damage came about (whether caused by negligence, breach of contract, service interruption, or any other reason), as well as other non-material losses of any kind, and losses arising from liability towards third parties, are explicitly excluded.

9.3 NORDBID shall equally not be held liable for deliberate misconduct or willful recklessness committed by employees or other parties engaged by NORDBID in the performance of the agreement, even where liability for such persons could arise under applicable law.

9.4 NORDBID does not accept any responsibility for advice of any form given by or on its behalf.

9.5 NORDBID shall not be held accountable for any damage to or loss of Goods (including the ones partially or fully paid by the Customer), motor vehicles belonging to the Customer and/or third parties whilst on its locations (including the ones with Goods stated on Order) or premises.

9.6 In the event that NORDBID is unable to invoke the limitations set out in par. 9.1 through 9.4 of this article and is nonetheless found liable to compensate a client for any reason, such liability shall in all circumstances be capped at the amount covered under insurance held by or arranged on behalf of NORDBID, and shall never exceed the sum actually paid out by that insurance in the given case.

9.7 Should NORDBID be unable, for any reason, to rely on the limitation described in par. 9.5 of this article, the obligation to provide compensation shall be capped at a maximum of 20% of the total Order value, excluding VAT. If the Order is divided into separate parts, the compensation obligation shall be limited to a maximum of 20% (excluding VAT) of the contract price applicable to that specific part.

9.8 The Customer agrees to hold NORDBID harmless and indemnify it against all claims and/or entitlements of third parties in connection with the delivery of Goods or the provision of services, to the extent that such claims exceed or differ from those the Customer is entitled to assert against NORDBID.

9.9 The Customer shall further indemnify NORDBID against any claims arising from the death of or bodily injury to the Customer's staff or third parties, and/or damage to or loss of property owned by the Customer or third parties, where such incidents occur on NORDBID's locations (including the ones with Goods stated on Order) or premises. This obligation shall not apply if and to the extent that the claim arises from deliberate misconduct of NORDBID's senior management.

9.10 NORDBID reserves the right to invoke all available legal and contractual defences to protect itself from liability towards the Customer, including in relation to both employees and non-employees for whose actions it may bear responsibility under the law.

9.11 NORDBID is not liable for incorrect or missing registration documents of Goods

10. INTELECTUAL PROPERTY RIGHTS

10.1 All creative and intellectual property rights — including advertisements on any web platform or any social network, agreements, terms and conditions, designs, images, drawings and similar materials — remain the property of NORDBID.

10.2 All data and materials referred owned by NORDBID may not be copied, used, or shared with third parties without prior written permission from NORDBID. Each violation of this rule will result in an immediately payable fine of €30.000,-. This fine may be claimed in addition to any other legal compensation.

11. FORCE MAJEURE

10.1 If NORDBID is temporarily unable to meet its obligations due to circumstances outside of its control (Force Majeure), it has the right to pause or terminate the fulfilment of those obligations without being required to pay any compensation to the other party for any damage or suffered loss.

10.2 Force Majeure, as referred to in these terms, means any situation and circumstances beyond the will and power of NORDBID, could not foresee at the time the agreement was made, and as a result of which NORDBID cannot reasonably be expected to perform. This includes situations such as war, mobilisation, terrorist acts, seizure, fire, water damage, natural disasters, import or export restrictions, government decisions, lack of raw materials, disruptions in production or transport in any kind, strikes, insufficient supply of raw materials, lock out or staff shortages, epidemics and pandemics, quarantine, trade restrictions, cold weather related stoppages, factory accidents, failures by suppliers or third parties involved in carrying out the agreement, etc.

10.3 If NORDBID is unable to fulfil its obligations due to Force Majeure, it is not required to do so. In such a case, NORDBID may either carry out the agreement within a reasonable time once the situation has passed, or cancel the agreement in full or in part, without any obligation to pay compensation. In the event of Force Majeure on the part of NORDBID, The Customer may only cancel the agreement after giving NORDBID a fair and reasonable amount of time to fulfil it.

10.4 If the Customer is unable to take delivery of the Goods due to Force Majeure of their control, NORDBID has the right to cancel the agreement. NORDBID cannot reasonably be expected to continue storing the Goods, given that its market value decreases and storage costs increase. In such a case, NORDBID has the right to recover any losses from the client, including by deducting them from any deposit already paid.

12. SANCTIONS AND REGULATIONS

11.1 By entering into an agreement with NORDBID, the Customer confirms that they will follow all applicable laws and regulations related to trade sanctions and restrictions adopted by European Union, USA, United Kingdom, United Nations or other relevant jurisdictions. This includes, but is not limited to, Russia and Belarus. The Customer must not, under any circumstances, supply the Goods delivered by Seller — whether directly, indirectly, or through a third party — to any individuals, companies, or countries that are subject to trade sanctions.

11.2 The Customer fully indemnifies NORDBID against any claims and any form of compensation or reimbursement arising as a result of non-compliance with any obligation under sanctions law.

11.3 By accepting the order / proforma / invoice, the Customer confirms that they have read, understood, and agreed to all of the above.

11.4 If NORDBID believes, at its own judgement, that sanctions law is not being or may not be followed, NORDBID has the right to immediately pause all of its obligations or to cancel the agreement in full or in part, without any prior warning or court involvement, and without any obligation to compensate the other party for any losses. In such a case, any deposits already paid by the other party will be forfeited. NORDBID reserves a right to claim compensation for loss resulting from the violation, terminate all agreements to other party.

13. LAW

All NORDBID offers and agreements are exclusively governed by Norwegian law. Applicability of The Vienna Sales Convention (CISG) is excluded. Any disputes between NORDBID and the Customer that arise from entered agreement will be settled to Olso District Court.