TTV GmbH – General Terms and Conditions (GTC) of Delivery and Payment

1. General

All contractual relationships shall be governed by German law.
Placement of any order constitutes the Buyer’s agreement with these GTC.
No buyer’s purchasing conditions or any variation to these GTC shall be binding unless agreed upon in writing.

2. Acknowledgement of orders, Quantity deviation

Any order submitted by the buyer shall only be deemed to be accepted, if and after having been confirmed by ttv in writing.
Deviation of delivered quantity from ordered quantity in the range of +/- 10% has to be accepted by the buyer on account of customer specific production. This is due to the nature of the production process. It does not entitle the buyer to curtail the invoiced amount nor is ttv obligated to deliver the remainder.

3. Samples, Molds, Fixtures, Programs, One-time Charges

ttv reserves the right to charge for samples and prototypes. Samples must not be made available to competitors, must not be counterfeit, or replicated.
Samples, molds, fixtures, and programs remain ttv`s property, are charged on a pro rata basis only and are kept safe by ttv for a period of 2 years from receipt of last order for respective parts.

4. Warranty

Notification of defects must be submitted in writing within 10 days after date of ttv`s delivery note.
Parts delivered as per sample cannot be returned. Liability for punitive damages is excluded. In particular, ttv cannot be held liable for compensation of consequential loss.

5. Delivery

Force majeure, illness, engine trouble/breakdown, shortage of raw materials, etc. shall entitle ttv to postpone or cancel the delivery partly or entirely. Delivery times are approximate and to be counted from date of order acknowledgment.
Failure to adhere to delivery times does not entitle the buyer to either claim for damages or cancellation of the order.
Delivery terms are ex works, at buyer’s cost and liability.
Upon placing the goods at buyer’s disposal, buyer bears risk and responsibility for these goods.
ttv reserves the right to partial shipments.

6. Payment

Unless otherwise agreed upon in writing, payments by the buyer shall be effected within 14 days at a discount of 2%, but net no later than 30 days after date of invoice.

Cost for molds and fixtures is due net: 50 % upon placing the order and 50 % after submitting sample parts produced from these molds and fixtures.
ttv accepts bills of exchange only after prior agreement in writing.
On failure of payment within deadline, ttv charges default interest of 3 % above current base rate of the European Central Bank.

7. Reservation of proprietary rights

ttv reserves all proprietary rights for all goods delivered until after the buyer has paid their respective invoice in full and in accordance with GDC 6. These rights extend also to goods in subsequent processing and to those already sold to customers.

8. Place of Fulfillment and Jurisdiction shall be Munich for both parties.

(Update 04/2004)