General Sales Terms and Conditions

1. GENERAL - The general Conditions of Sale shall apply and shall be deemed incorporated into any quotation for goods or services (quotation), any order for goods or services (order) placed by a purchaser (purchaser) notwithstanding any inconsistencies which may be introduced in the purchaser’s order or acceptance, unless expressly agreed in writing by Panoto Radiator Machinery Inc. (Panoto Radiator).

2. PRICES - Unless expressly stated otherwise, all prices quoted are expressed in EURO, exclusive of any amount which Panoto Radiator Machinery Inc. is required to pay on account of any excise, tax, stamp duty or any other taxes or charges which may be established or levied by any government or governmental authority and ex-works from Panoto Radiator Machinery Inc.’s warehouse in Beylikduzu, Istanbul / Turkey.

3. PRICE VARIATION - A quotation is based on the information provided and/or given at the time of the quotation, the then current (a) labour rates which are applicable at that time, (b) international monetary exchange rates, (c) LME prices and exchange rates and (d) costs of bought-in items. Any variation to the information, labour rates, exchange rates, LME exchange rates and costs will result in the quotation being subject to review and, if applicable, variation to the purchaser s account.

4. ORDER ACCEPTANCE - A quotation is subject to our ability to secure at time of order the goods and/or materials for the manufacture of the items quoted for. A quotation may be withdrawn without any notice and any order given in respect of a quotation is not binding on Panoto Radiator until accepted by Panoto Radiator in writing.

5. CANCELLATION - Any order may be cancelled by the purchaser only with the consent of Panoto Radiator Machinery Inc. and upon payment of reasonable cancellation charges. Such charges shall take into account expenses relating to commitments made by Panoto Radiator Machinery Inc. and all other losses due to such cancellations. In the event of any national emergency which shall delay either completion of the manufacture, or delivery of such equipment as may be ordered from Panoto Radiator Machinery Inc., it is agreed that at the option of the purchaser the order may either be cancelled in accordance with Panoto Radiator’s terms, or completed subsequently, subsequent to the adjusted price having been agreed.

6. CESSATION OF WORK - Extra costs incurred due to cessation of work resulting from the purchaser’s instructions or lack of instructions, interruptions, delays, overtime, unusual hours, mistakes or work for which Panoto Radiator Machinery Inc. is not responsible shall be to the purchaser s account.