Terms and conditions
fibo intercon a/s . Herningvej 4 . DK-6920 Videbæk . Phone +45 97 17 16 66 . email@example.com . www.fibointercon.com
1.1 These General Conditions shall apply when the parties agree In Writing or otherwise thereto. Any modifications of or deviations from them must be agreed In Writing.
2.1 In these General Conditions the following terms shall have the meanings hereunder assigned to them:
“Contract”: the agreement In Writing between the parties concerning delivery and performance of the Works and all appendices, including agreed amendments and additions In Writing to the said documents;
“Contract Price”: the payment to be made for the Works. If Installation is to be carried out on a time basis and has not been completed, the Contract Price for the purposes of Clauses 7.3 and 13.5 shall be the price for the Plant with the addition of 10 per cent or of any other percentage that may have been agreed by the parties; “fibo intercon”: Fibo intercon Intercon A/S, Company registration no. 35849335, Herningvej 4, 6920 Videbæk, Denmark. “Gross Negligence”: an act or omission implying either a failure to pay due regard to serious consequences, which a conscientious contracting party would normally foresee as likely to ensue, or a deliberate disregard of the consequences of such an act or omission; “In Writing”: communication by document signed by both parties or by letter, fax, electronic mail and by such other means as are agreed by the parties; “Plant”: the machinery, apparatus, materials, articles, documentation, software and other products to be supplied by fibo intercon under the Contract;
“Site”: the place where the Plant is to be installed, including as much of the surrounding area as is
necessary for unloading, storage and internal transport of the Plant and installation equipment;
“Works” the Plant, installation of the Plant and any other work to be carried out by fibo intercon under the Contract. If the Works according to the Contract shall be taken over by separate sections intended to be used independently from each other, these Conditions shall apply to each section separately. The term “Works” shall then refer to the section in question.
3. PRODUCT INFORMATION
3.1 All information and data contained in general product documentation and price lists shall be binding only to the extent that they are by reference In Writing expressly included in the Contract.
3.2 All general documentations will be provided in English.
4. DRAWINGS AND TECHNICAL INFORMATION
4.1 All drawings and technical documents relating to the Works submitted by one party to the other, prior or subsequent to the formation of the Contract, shall remain the property of the submitting party. Drawings, technical documents or other technical information received by one party shall not, without the consent of the other party, be used for any other purpose than that for which they were provided. They may not, without the consent of the submitting party, otherwise be used or copied, reproduced, transmitted or communicated to a third party.
4.2 fibo intercon shall, not later than at the date of taking over, provide free of charge information and drawings which are necessary to permit the Purchaser to commission, operate and maintain the Works. Such information and drawings shall be supplied in the number of copies agreed upon or at least one copy of each. fibo intercon shall not be obliged to provide manufacturing drawings for the Plant or for spare parts.
5. TESTS BEFORE SHIPMENT
5.1 Tests before shipment of the Plant provided for in the Contract shall, unless otherwise agreed, be carried out at the place of manufacture during normal working hours.
If the Contract does not specify the technical requirements, the tests shall be carried out in accordance with general practice in the appropriate branch of industry concerned in the country of manufacture.
5.2 fibo intercon shall bear all costs for tests before shipment of the Plant. The Purchaser shall however bear all travelling and living expenses for his representatives in connection with such tests.
6. PREPARATORY WORK AND WORKING CONDITIONS
6.1 fibo intercon shall in good time provide drawings showing the manner in which the Plant is to be installed, together with all information required for preparing suitable foundations, for providing access for the Plant and any necessary equipment to the Site and for making all necessary connections to the Works.
6.2 The Purchaser shall in good time undertake preparatory work to ensure that the conditions necessary for installation of the Plant and for the correct operation of the Works are fulfilled.
6.3 The preparatory work referred to in Clause 6.2 shall be carried out by the Purchaser in accordance with the drawings and information provided by fibo intercon. In any case the Purchaser shall ensure that the foundation is structurally sound. If the Purchaser is responsible for transporting the Plant to the Site, he shall ensure that the Plant is on the Site before the agreed date for starting the installation work.
6.4 The Purchaser shall ensure that:
- fibo intercon’s personnel are able to start work in accordance with the agreed time schedule and to work during normal working hours;
- he has, in good time before Installation is started informed fibo intercon in Writing of all relevant safety regulations in force at the Site. Installation shall not be carried out in unhealthy or dangerous surroundings. All the necessary safety and precautionary measures shall have been taken before Installation is started and shall be maintained;
- fibo intercon’s personnel are able to obtain suitable and convenient board and lodging in the neighborhood of the Site and have access to internationally acceptable hygiene facilities and medical services;
- he has made available to fibo intercon free of charge at the proper time on the Site all necessary cranes, lifting equipment and equipment for transport on the Site, auxiliary tools, machinery, materials and supplies (including fuel, oil, grease and other materials, gas, water, electricity, steam, compressed air, heating, lighting, etc.), as well as the measuring and testing instruments. fibo intercon shall specify In Writing their requirements concerning such cranes, lifting equipment, measuring and testing instructions and equipment for transport on the Site at the latest one month before the agreed date for starting the installation work;
- he has made available to fibo intercon free of charge sufficient offices on the Site, equipped with telephone and access to the Internet;
- he has made available to fibo intercon free of charge necessary storage facilities, providing protection against theft and deterioration of the Plant, the tools and equipment required for installation and the personal effects of fibo intercon’s personnel;
- the access routes to the Site are suitable for the required transport of the Plant and fibo intercon’s equipment.
6.5 Upon fibo intercon’s request in good time, the Purchaser shall make available to fibo intercon, free of charge, such labour and operators as may be specified in the Contract or as may reasonably be required for the purpose of the Contract. The persons made available by the Purchaser under this clause shall provide their own tools. fibo intercon shall not be liable for such labour provided by the Purchaser or for any acts or omissions of the persons concerned.
6.6 If fibo intercon so requires, the Purchaser shall give all necessary assistance required for the import and re-export of fibo intercon’s equipment and tools, including assistance with customs formalities. The assistance as such shall be provided free of charge.
6.7 The Purchaser shall give all necessary assistance to ensure that fibo intercon’s personnel obtain, in
good time, visas and any official entry, exit or work permits and (if necessary) tax certificates required in the Purchaser’s country, as well as access to the Site. The assistance as such shall be provided free of charge.
6.8 The parties shall, no later than when fibo intercon gives notice that the Plant is ready for dispatch from the place of manufacture, each appoint a representative In Writing to act on their behalf during the work on the Site.
The representatives shall be present on or near the Site during working hours. Unless otherwise specified in the Contract, the representatives shall be authorized to act on behalf of their respective party in all matters concerning the installation work. Wherever these General Conditions stipulate that a notice shall be given In Writing, the representative shall always be authorized to receive such notice on behalf of the party he represents.
7. PURCHASER’S DEFAULT
7.1 If the Purchaser anticipates that he will be unable to fulfil in time his obligations necessary for carrying out installation, including complying with the conditions specified In Clauses 6.2 – 6.7, he shall forthwith notify fibo intercon In Writing, stating the reason and, if possible, the time when he will be able to carry out his obligations.
7.2 Without prejudice to fibo intercon’s right under Clause 7.3, if the Purchaser fails to fulfil, correctly and in time, his obligations necessary for carrying out installation, including to comply with the conditions specified in Clauses 6.2 – 6.7, the following shall apply:
- 1) fibo intercon may at his own discretion choose to carry out or employ a third party to carry out the Purchaser’s obligations or
otherwise take such measures as are appropriate under the circumstances in order to avoid or alleviate the effects of the Purchaser’s default.
- fibo intercon may suspend in whole or in part his performance of the Contract. He shall forthwith notify the Purchaser in Writing of such suspension.
- If the Plant has not yet been delivered to the Site, fibo intercon shall arrange for storage of the Plant at the Purchaser’s risk. fibo intercon shall also, if the Purchaser so requires, insure the Plant.
- The Purchaser shall pay any part of the Contract Price which, without the Purchasers default, would have become due.
- The Purchaser shall reimburse fibo intercon for any costs not covered by Clause 13.2, which are reasonably incurred by fibo intercon as result of measures under 1), 2) or 3) of this Clause.
7.3 If taking-over is prevented by the Purchaser’s default as referred to in Clause 7.2 and this is not due to any such circumstance as mentioned in Clause 18.1, fibo intercon may also by notice In Writing require the Purchaser to remedy his default within a final reasonable period.
If, for any reason which is not attributable to fibo intercon, the Purchaser fails to remedy his default within such period, fibo intercon may by notice In Writing terminate the Contract in whole or in part. fibo intercon shall then be entitled to compensation for the loss he suffers by reason of the Purchaser’s default, including any consequential and indirect loss. The compensation shall not exceed that part of the Contract Price which is attributable to that part of the Works in respect of which the Contract is terminated.
8. LOCAL LAWS AND REGULATIONS
8.1 fibo intercon shall ensure that the Works are carried out and are in accordance with any laws, regulations and rules which are applicable to the Works. If required by fibo intercon, the Purchaser shall provide the relevant information on these laws, regulations and rules In Writing.
8.2 fibo intercon shall carry out any variation work necessary to comply with changes in laws, regulations and rules, referred to in Clause 8.1, or in their generally accepted Interpretation, occurring between the date of submission of the tender and taking-over. The Purchaser shall bear the extra costs and other consequences resulting from such changes, including variation work.
8.3 If the parties are unable to agree on the extra costs and other consequences of changes in laws, regulations and rules, referred to in Clause 8.1, fibo intercon shall be compensated for any variation work on a time basis.
9. PASSING OF RISK
9.1 The risk of loss of or damage to the Plant shall pass to the Purchaser in accordance with any agreed trade term, which shall be construed in accordance with the INCOTERMS in force at the date of formation of the Contract. If no trade term has been specifically agreed, delivery of the Plant shall be Free Carrier (FCA) at the place named by fibo intercon.
Any risk of loss of or damage to the Works not covered by the first paragraph of this Clause shall pass to the Purchaser on taking-over of the Works.
Any loss of or damage to the Plant and Works after the risk has passed to the Purchaser shall be at the risk of the Purchaser, unless such loss or damage results from fibo intercon’s negligence.
10. TAKING-OVER TESTS
10.1 When installation has been completed takingover tests shall, unless otherwise agreed, be carried out to determine whether the Works are as required for taking-over according to the Contract.
fibo intercon shall notify the Purchaser In Writing that the Works are ready for takingover. fibo intercon shall in this notice give a date for taking-over tests, giving the Purchaser sufficient time to prepare for and be represented at these tests.
The Purchaser shall bear all costs of taking-over tests.
10.2 The Purchaser shall provide free of charge any power, lubricants, water, fuel, raw materials and other materials required for the taking-over tests and for final adjustments in preparing for these tests. He shall also install free of charge any equipment and provide any labour or other assistance necessary for carrying out the takingover tests.
10.3 If, after having been notified in accordance with Clause 10.1, the Purchaser fails to fulfil his obligations under Clause 10.2 or otherwise prevents the taking-over tests from being carried out, the tests shall be regarded as having been satisfactorily completed at the starting date for taking-over tests stated in fibo intercon’s notice.
10.4 The taking-over tests shall be carried out during normal working hours. If the Contract does not specify the technical requirements, the tests shall be carried out in accordance with general practice in the appropriate branch or industry concerned in fibo intercon´s country.
10.5 fibo intercon shall prepare a report of the taking-over tests. This report shall be sent to the Purchaser. If the Purchaser has not been represented at the taking-over tests after having been notified in accordance with Clause 10.1, the test report shall be accepted as accurate.
10.6 If the taking-over tests show the Works not to be in accordance with the Contract, fibo intercon shall without delay remedy the deficiencies. If the Purchaser so requires In Writing without delay, new tests shall be carried out in accordance with Clauses 10.1 – 10.5. This shall not apply when the deficiency was insignificant.
11.1 Taking-over of the Works shall be considered to take place:
- when the taking-over tests have been satisfactorily completed or are regarded under Clause 10.3 as having been satisfactorily completed, or
- where the parties have agreed not to carry out taking over tests, when the Purchaser has received fibo intercon’s notice In Writing that the Works have been completed, provided that the Works are as required for taking-over according to the Contract.
Minor deficiencies which do not affect the efficiency of the Works shall not prevent takingover.
fibo intercon’s obligation to install the Plant at the Site is fulfilled when the Works are taken over pursuant to this Clause 11.1, notwithstanding his obligation to remedy any remaining minor deficiencies.
11.2 The Purchaser is not entitled to use the Works or any part thereof before taking-over. If the Purchaser does so without fibo intercon’s consent In Writing, the Works shall be deemed to have been taken over. fibo intercon is then relieved of his duty to carry out taking-over tests.
11.3 As soon as the Works have been taken over in accordance with Clauses 11.1 – 11.2, the period referred to in Clause 16.5 shall start to run. The Purchaser shall, at fibo intercon’s request In Writing, issue a certificate stating when the Works have been taken over. The Purchaser’s failure to issue a certificate shall not affect taking over according to Clauses 11.1 – 11.2.
12. FIBO INTERCON’S DELAY
12.1 If the parties, instead of specifying the date for taking-over, have specified a period of time within which taking-over shall take place, such period shall start to run as soon as the Contract is entered into and all agreed preconditions to be fulfilled by the Purchaser have been satisfied, such as official formalities, payments due at the formation of the Contract and securities.
12.2 If fibo intercon anticipates that he will not be able to fulfil his obligations for taking-over before or at the time for taking-over, he shall forthwith notify the Purchaser thereof In Writing, stating the reason and, if possible, the time when taking-over can be expected.
12.3 fibo intercon shall be entitled to an extension of the time for taking-over if delay occurs:
- because of any of the circumstances referred to in Clause 18.1, or
- as a result of variation work under Clause 8.2, or
- as a result of suspension under Clauses 7.2, 13.5 or 19.1, or
- by an act or omission on the part of the Purchaser or any other circumstances attributable to the Purchaser.
The extension shall be as necessary having regard to all the relevant circumstances. This provision applies regardless of whether the reason for the delay occurs before or after the agreed time for taking-over.
13.1 Unless otherwise agreed, payment shall be made within the following:
- 60 per cent of the Contract Price at the formation of the Contract,
- 40 per cent when fibo intercon notifies the Purchaser that the Plant or the essential part of it is ready for dispatch from the place of manufacture – FCA fibo intercon, Videbæk, Denmark
13.2 When installation is carried out on a time basis the following items shall be separately charged:
- all travelling expenses incurred by fibo intercon in respect of his personnel and the transport of their equipment and personal effects (within reasonable limits) in accordance with the specified method and class of travel where these are specified in the Contract;
- cost of board and lodging and other living expenses, including any appropriate allowances of fibo intercon’s personnel for each day’s absence from their homes, including non-working days and holidays. The daily allowances shall be payable even during incapacity caused by sickness or accident;
- the time worked, which shall be calculated by reference to the number of hours certified as worked in the time-sheets signed by the Purchaser. Overtime and work on Sundays, holidays and at night shall be charged at special rates. The rates shall be as agreed in the Contract or, failing agreement, as normally charged by fibo intercon. Save as otherwise provided, the hourly rates cover the normal wear and tear of fibo intercon’s tools and light equipment;
- time necessarily spent on:
– preparation and formalities incidental to the outward and homeward journeys of fibo intercon’s personnel,
– the outward and homeward journeys and other journeys to which the personnel are entitled in accordance with current law, regulations or collective agreements in fibo intercon’s country,
– daily travel of fibo intercon’s personnel between lodgings and the Site, if it exceeds half an hour each way and there are no suitable lodgings closer to the Site,
– Waiting when work is prevented by circumstances which are not attributable to fibo intercon;
5. any expenses incurred by fibo intercon in accordance with the Contract in connection with the provision of equipment by him, including where appropriate a charge for the use of fibo intercon’s own heavy equipment;
6. any taxes or dues levied on the invoice and payable by fibo intercon in the country where installation takes place;
7. any costs which could not reasonably be foreseen by fibo intercon and are caused by a circumstance which is not attributable to Fibo intercon;
8. any extra costs resulting from the applicability of mandatory rules of the Purchaser’s country in the social field;
9. any costs, expenses and time spent resulting from extra work which is not attributable to fibo intercon.
If these costs are time-related, they shall be charged at the rates Euro 1161, – per day exclusive Travel, food and accommodation expenses.
13.3 If installation is delayed due to a cause which is attributable to the Purchaser, the Purchaser shall compensate fibo intercon for any resulting additional costs, including but not limited to:
- waiting time and time spent on extra journeys;
- costs and extra work resulting from the delay, including removing, securing and setting up installation equipment;
- additional costs, including costs as a result of fibo intercon having to keep his equipment at the Site for a longer time than expected;
- additional costs for journeys and board and lodging for fibo intercon’s personnel;
- additional financing costs and costs of insurance;
- other documented costs incurred by fibo intercon as a result of changes in the installation program.
If these costs are time-related, they shall be charged at the rates Euro 1161,- per day exclusive travel, food and accommodation expenses.
13.4 Whatever the means of payment used, payment shall not be deemed to have been effected before fibo intercon’s account has been irrevocably credited for the amount due.
13.5 If the Purchaser fails to pay by a stipulated date, fibo intercon shall be entitled to interest from the day on which payment was due and to compensation for recovery costs. The rate of interest shall be as agreed between the parties or otherwise 8 percentage points above the rate of the main refinancing facility of the European Central Bank. The compensation for recovery costs shall be 1 per cent of the amount for which interest for late payment becomes due.
In case of late payment and in case the Purchaser fails to give an agreed security by the stipulated date fibo intercon may, after having notified the Purchaser In Writing, suspend his performance of the Contract until he receives payment or, where appropriate, until the Purchaser gives the agreed security.
If the Purchaser has not paid the amount due within three months, fibo intercon shall be entitled to terminate the Contract by notice In Writing to the Purchaser and, in addition to the interest and compensation of recovery costs according to this Clause 13.5, to claim compensation for the loss he incurs. Such compensation shall not exceed the Contract Price.
14. RETENTION OF TITLE
14.1 The Plant shall remain the property of fibo intercon until paid for in full, including payment for installation of the Plant, to the extent that such retention of title is valid under the relevant law. The Purchaser shall at the request of fibo intercon assist him in taking any measures necessary to protect fibo intercon’s title to the Plant.
The retention of title shall not affect the passing of risk under Clause 9.1.
15. LIABILITY FOR DAMAGE TO PROPERTY BEFORE TAKING-OVER
15.1 fibo intercon shall be liable for any damage to the Works which occurs before the risk has passed
to the Purchaser. This applies irrespective of the cause of the damage, unless the damage has been caused by the Purchaser or anyone for whom he is responsible in connection with performance of the Contract. If fibo intercon is not liable for the damage to the Works in accordance with this Clause, the Purchaser may still require fibo intercon to remedy the damage, be it at the Purchaser’s cost.
15.2 fibo intercon shall be liable for damage to the Purchaser’s property occurring before taking-over of the Works only if it is proved that such damage was caused by negligence on the part of fibo intercon or anyone for whom fibo intercon is responsible in connection with the performance of the Contract. fibo intercon shall however under no circumstances be liable for loss of production, loss of profit, loss of use, loss of contracts or for any other consequential or indirect loss whatsoever.
16. LIABILITY FOR DEFECTS
16.1 Pursuant to the provisions of Clauses 16.2 – 16.15, fibo intercon shall remedy any defect or nonconformity (hereinafter termed defect(s)) in the Works resulting from faulty design, materials or workmanship.
16.2 fibo intercon shall not be liable for defects arising out of materials provided or a design stipulated or specified by the Purchaser.
16.3 fibo intercon shall only be liable for defects which appear under the conditions of operation provided for in the Contract and under proper use of the Works.
16.4 fibo intercon shall not be liable for defects caused by circumstances which arise after the risk has passed to the Purchaser, e.g. defects due to faulty maintenance or faulty repair by the Purchaser or to alterations carried out without fibo intercon’s consent In Writing. fibo intercon shall neither be liable for normal wear and tear nor for deterioration.
16.5 fibo intercon’s liability shall be limited to defects in the Works which appear within a period of one year from dispatching date from the place of manufacture. If the use of the Works exceeds that which is agreed, this period shall be reduced proportionately.
16.6 When a defect in a part of the Works has been remedied, fibo intercon shall be liable for defects in the repaired or replaced part under the same terms and conditions as those applicable to the original Works for a period of one year.
16.7 The Purchaser shall without undue delay notify fibo intercon In Writing of any defect which appears. Such notice shall under no circumstances be given later than two weeks after the expiry of the period given in Clause 16.5.
The notice shall contain a description of the defect. If the Purchaser fails to notify fibo intercon In Writing of a defect within two weeks after the defect appears, he shall lose his right to have the defect remedied.
Where the defect is such that it may cause damage, the Purchaser shall immediately inform fibo intercon In Writing. The Purchaser shall bear the risk of damage to the Works resulting from his failure so to notify. The Purchaser shall take reasonable measures to minimize damage and shall in that respect comply with instructions of fibo intercon.
16.8 On receipt of the notice under Clause 16.7 fibo intercon shall at his own cost remedy the defect without undue delay, as stipulated in Clauses 16.1 – 16.15.
If the defect can be remedied by replacement or repair of a defective part and if dismantling and reinstallation of the part do not require special knowledge, fibo intercon may demand that the defective part is sent to him or a destination specified by him at the cost of the Purchaser. In such case fibo intercon shall have fulfilled his obligations in respect of the defect when he delivers a duly repaired part or a part in replacement to the Purchaser.
16.9 The Purchaser shall at his own expense provide access to the Works and arrange for any intervention in equipment other than the Works, to the extent that this is necessary to remedy the defect.
16.10 Unless otherwise agreed, necessary transport of the Plant or parts thereof to and from fibo intercon in connection with the remedying of defects shall be at the risk and expense of the Purchaser.
16.11 Unless otherwise agreed, the Purchaser shall bear any additional costs which fibo intercon incurs for remedying the defect caused by the Works being located in a place other than the Site.
16.12 Defective parts which have been replaced shall be made available to fibo intercon and shall be his property.
16.13 If the Purchaser has given such notice as mentioned in Clause 16.7 and no defect is found for which fibo intercon is liable, fibo intercon shall be entitled to compensation for the costs he incurs as a result of the notice.
16.14 Notwithstanding the provisions of Clauses 16.1 – 16.13 fibo intercon shall not be liable for defects in any part of the Works for more than one year from the end of the liability period referred to in Clause 16.5.
16.15 Save as stipulated in Clauses16.1 – 16.14, fibo intercon shall not be liable for defects. This applies to any loss the defect may cause, including loss of production, loss of profit, loss of use, loss of contracts or for any other consequential or indirect loss whatsoever.
17. ALLOCATION OF LIABILITY FOR DAMAGE CAUSED BY THE WORKS
17.1 fibo intercon shall not be liable for any damage to property caused by the Works after taking-over and whilst the Works are in the possession of the Purchaser. Nor shall fibo intercon be liable for any damage to products manufactured by the Purchaser or to products of which the Purchaser’s products form a part.
If fibo intercon incurs liability towards any third party for such damage to property as described in the preceding paragraph, the Purchaser shall indemnify, defend and hold fibo intercon harmless.
If a claim for damage as described in this Clause is lodged by a third party against one of the parties, the latter party shall forthwith inform the other party thereof In Writing.
fibo intercon and the Purchaser shall be mutually obliged to let themselves be summoned to the court or arbitral tribunal examining claims for damages lodged against one of them on the basis of damage allegedly caused by the Works. The liability between fibo intercon and the Purchaser shall however be settled in accordance with Clause 21.1.
18. FORCE MAJEURE
18.1 Either party shall be entitled to suspend performance of his obligations under the
Contract to the extent that such performance is impeded or made unreasonably onerous by Force Majeure, meaning any of the following circumstances: industrial disputes and any other circumstance beyond the control of the parties, such as fire, war, extensive military mobilization, insurrection, requisition, seizure, embargo, restrictions in the use of power, currency and export restrictions, epidemics, natural disasters, extreme natural events, terrorist acts and defects or delays in deliveries by subcontractors caused by any such circumstance referred to in this Clause.
A circumstance referred to in this Clause, whether occurring prior to or after the formation of the Contract, shall give a right to suspension only if its effect on the performance of the Contract could not be foreseen at the time of the formation of the Contract.
18.2 The party claiming to be affected by Force Majeure shall notify the other party In Writing without delay on the intervention and on the cessation of such circumstance. If a party fails to give such notice, the other party shall be entitled to compensation for any additional costs which he incurs and which he could have avoided had he received such notice.
If Force Majeure prevents the Purchaser from fulfilling his obligations, he shall compensate the fibo intercon for expenses incurred in securing and protecting the Works.
19. ANTICIPATED NON-PERFORMANCE
19.1 Notwithstanding other provisions in these General Conditions regarding suspension, each party shall be entitled to suspend the performance of his obligations under the Contract where it is clear from the circumstances that the other party is not going to perform his obligations. A party suspending his performance of the Contract shall forthwith notify the other party thereof In Writing.
20. CONSEQUENTIAL LOSSES
20.1 Save as otherwise stated in these General Conditions there shall be no liability on either party towards the other party for loss of production, loss of profit, loss of use, loss of contracts or for any other consequential or indirect loss whatsoever.
21. DISPUTES AND APPLICABLE LAW
21.1 Any dispute arising out of or in connection with this Contract, including any disputes regarding the existence, validity or termination thereof, shall be settled by arbitration administrated by The Danish Institute of Arbitration in accordance with the rules of arbitration procedure adopted by The Danish Institute of Arbitration and in force at the time when such proceedings are commenced.
The Contract shall be governed by the substantive law of fibo intercon’s country.
fibo intercon a/s . Herningvej 4 . DK-6920 Videbæk . Phone +45 97 17 16 66 . firstname.lastname@example.org . www.fibointercon.com