General conditions of sale

1. SCOPE

1.1. The purpose of these provisions is to establish the general conditions of sale of INTERNATIONAL BRON METAL S.A. (hereinafter BRONMETAL). These conditions are understood as accepted by the customer once they have placed a firm order with BRONMETAL.

2. OFFERS

2.1. Unless otherwise stated, offers expire within a month of their issue, provided that they have not been confirmed by the customer.

2.2. Offers will indicate as accurately as possible the material being quoted as well as its dimensions, finishes, price, quantities and delivery times, as well as any special conditions necessary, whether at the express wish of the customer or in the interests of BRONMETAL.

2.3. Orders related to the offers must comply with the terms of the offers, both in quantity and price, delivery time or any other condition expressly indicated therein.

2.4. Any order that does not match the offer must be reviewed and confirmed by BRONMETAL.

2.5. The delivery times indicated in offers are understood as except for the sale of the material in stock. For products that involve a specific purchase by BRONMETAL, the delivery times will depend on the manufacturer and are to be used as a guideline.

2.6. The delivery times indicated in the offers always refer to the times that BRONMETAL requires to store, handle and prepare the goods for shipment, the transport time not being included.

3. ORDERS

3.1. Orders from purchasers are firm orders once they have been received, by any means, at BRONMETAL.

3.2. BRONMETAL will send a written confirmation of receipt and acceptance, provided that the amount of the order exceeds 200, detailing all the general and special conditions that are necessary, when the breakdown of the order does not coincide with what is stated in the offer.

3.3. BRONMETAL will accept the new conditions as long as the customer does not express their disagreement in writing within a maximum period of 24 hours.

4. PRICE AND INVOICING

4.1. The products are sold at the price and under the conditions indicated in the offer or in the order confirmation.

4.2. Orders will be invoiced according to agreement between both parties, applying at all times Law 15/2010 of 5 July 2010 (published in the Official State Gazette on 6 July 2010).

5. PAYMENT TERMS

5.1. The payment method established by BRONMETAL for the first commercial operation is payment in advance, either by cash or through any other guaranteed payment method (irrevocable letter of credit).

5.2. For subsequent operations and unless otherwise specified or agreed between the parties, the default payment method will be 30-day domiciled bank draft for the net amount of the sale.

5.3. In the case of a payment agreement by money order over more days, the following financial surcharges will be applied: for 60 days, 1%. There will be compliance at all times with Law 15/2010 of 5 July 2010 (published in the Official State Gazette on 6 July 2010).

5.4. Only collection by BRONMETAL of the sum due at the agreed maturity date constitutes effective payment and no consideration will be given to the sending of a bill of exchange, cheque or any other similar document, even if they imply a payment obligation.

5.5. Any amount unpaid on the maturity date will involve return costs and financial charges, which are set at 1.5% per month; this will be applied from the maturity date of the unpaid amount.

5.6. Whenever there is a single invoice pending payment on its maturity date, BRONMETAL reserves the right to claim for payment of it by all legal means and also, from that time, the claim may include all those pending payment on future maturity dates. In other words, payment of the entire debit balance will be required.

5.7. In the event of non-payment or default on the debit balance, BRONMETAL reserves the right to freeze pending deliveries, even if they have been previously confirmed, until payment of the debt is made.

6. DELIVERY CONDITIONS

6.1. Unless expressly stated otherwise, the general conditions of delivery of the goods are Ex Works (INCOTERM 2010). 6.2. Any other delivery method must be explicitly stated in the offer, the order or the order confirmation.

6.3. Failure to comply with delivery times by BRONMETAL will not in any case involve the application of penalties or justify the rejection of the products by the customer, unless expressly stated in a specific agreement signed by both parties.

6.4. The quantities delivered may vary slightly in weight, quantity or amount with respect to the customer’s initial order and/or the order confirmation, due to the final making up of the sales unit. In any case, these variations may not exceed ± 10 %.

7. CANCELLATION OF ORDERS

7.1. The customer may request the cancellation of orders that are not in the manufacturing process or those that have not involved the specific purchase of materials or products made by BRONMETAL to fill the order from the customer, this being a firm and confirmed order.

7.2. The cancellation request must be made in writing and will only be considered firm when it has been confirmed by BRONMETAL, who will send it in writing to the customer.

7.3. In no case will cancellations be allowed of firm orders in the manufacturing process or for which goods have had to be purchased by BRONMETAL expressly to fill the order.

8. WARRANTY

8.1. BRONMETAL guarantees its customers quality management and service according to the requirements of ISO 9001 certification.

8.2. BRONMETAL guarantees that the supply of material will be in accordance with the specifications of the order and its corresponding confirmation.

8.3. All customer claims regarding their orders must be received by BRONMETAL, in writing and within a maximum period of 15 calendar days from delivery if the claim is related to the product supplied (materials, quantities, measurements, etc.), and up to 30 calendar days if the claim concerns aspects related to the invoicing of the order.

8.4. If during this time the purchaser has used or consumed the supplied products, or a part thereof, the conformity of the products will be considered as explicitly accepted and therefore no claim will be allowed.

8.5. Similarly, once these claim deadlines have ended, BRONMETAL will not accept claims in this respect.

8.6. Claims must be reasoned and accompanied by samples of compliant and non-compliant products (raw materials, manufactured parts, etc.). Ultimately, and by agreement between the parties, photographic documentation may be accepted

8.7. The liability of BRONMETAL in these cases and in relation to the warranty for its products consists solely of the replacement of the same material, form and quantity or the return of the amount paid by the customer, excluding, in all cases, any liability for direct or indirect damage that the materials supplied may have caused to the purchaser. The maximum liability for an order issued and the subject of a claim is, in all cases, limited to the purchase price of the product supplied.

8.8. Claims for damage or deterioration during transport will not be accepted if they have not been noted on the agency’s delivery note (CRM) and reported within 24 hours of the transport.

9. CAUSES OF FORCE MAJEURE

9.1. Strikes, floods, fires, sabotage, disturbances in the communications and transport system, difficulties in the supply of raw materials, major accidents affecting production, transport or storage, the re-establishment or judicial liquidation of manufacturers or sub-contractors, and in general all events beyond the control of BRONMETAL that have the effect of impeding or delaying the manufacture or dispatch of the products included in a confirmed order, constitute cases of force majeure that therefore release BRONMETAL from all liability in the fulfilment of the provisions of the order confirmation.

10. APPLICABLE LEGISLATION AND CONFLICT RESOLUTION

10.1. The legal framework in which the commercial activity of BRONMETAL takes place is set by the Spanish Commercial Code, as well as current regulations on International Trade and Export.

10.2. In specific cases and whenever there are private contracts signed by the parties, the provisions set out in this respect in the Civil Code will also apply.

10.3. In any case, the resolution of conflicts related to this matter will take as a legal framework for resolution that of the civil and/or commercial courts of Bilbao.