STANDARD TERMS AND CONDITIONS OF SALE — TRENDNET LTD

Application. These terms and conditions govern all quotations, orders, sales of goods and provision of services by Trendnet Ltd, 12 Athinon Avenue, 8035 Paphos, Cyprus (“the Company”). The client expressly waives its own standard terms and conditions, even if these were drawn up after these terms. Any derogation is valid only if expressly agreed in advance in writing.

Prices and taxes. All prices are in euro. VAT and any applicable taxes or delivery charges are indicated on the quotation or invoice.

Payment. Invoices are payable within 21 working days, unless another payment timeframe is indicated on the invoice or the order. In the event of non-payment by the due date, the Company reserves the right to charge default interest of 10% per annum on the sum remaining due, or the statutory rate applicable to late payment in commercial transactions if higher, plus the fixed recovery compensation of EUR 40 provided by Cyprus law. The Company is authorised to suspend any further delivery of goods or provision of services without prior warning in the event of late payment.

Debt recovery. If a payment is still outstanding more than sixty (60) days after the due date, the Company reserves the right to refer the debt to a recovery agency or to initiate legal proceedings. All reasonable recovery and legal expenses will be payable by the client.

Withholding at source. Certain countries apply withholding at source on the amount of invoices, in accordance with their internal legislation. Any withholding at source will be paid by the client to the tax authorities. Under no circumstances will the Company become involved in costs related to a country’s legislation. The amount of the invoice is due to the Company in its entirety and does not include any costs relating to the legislation of the country in which the client is located.

Retention of title and risk. Goods remain the property of the Company until full payment of the corresponding invoice. Risk in the goods passes to the client upon delivery.

Delivery and performance. The Company undertakes to use its best efforts to deliver goods and supply services within the agreed timeframes. Timeframes are indicative, and none of the Company’s obligations can be considered an obligation to achieve results. The Company cannot under any circumstances be required by the client to appear as a third party in the context of any claim for damages filed against the client by an end consumer.

Claims. In order for it to be admissible, the Company must be notified of any claim in writing, sent by recorded delivery to its registered office, within 8 days of the delivery of the goods or the provision of the services.

Warranty and liability. Goods benefit from the manufacturer’s warranty where applicable. To the fullest extent permitted by law, the Company’s total liability in connection with any order is limited to the amount invoiced for that order, and the Company is not liable for any indirect or consequential loss, including loss of profit, data or business. Nothing in these terms excludes or limits any liability that cannot be excluded or limited under applicable law.

Consumer rights. Where the client acts as a consumer, nothing in these terms affects the consumer’s mandatory statutory rights under Cyprus and EU law, including the legal guarantee of conformity and, in the case of distance sales, the 14-day right of withdrawal.

Governing law and jurisdiction. All contractual relations are governed exclusively by the laws of the Republic of Cyprus. Any dispute falls within the exclusive jurisdiction of the competent courts of the Republic of Cyprus, without prejudice to mandatory consumer jurisdiction rules.