GENERAL CONDITIONS 

for the 

SUPPLY OF ALL POWER-FLEX ApS PRODUCTS

                                                                                   Skovlunde, Denmark

                                                                                  January 2005

 1.     All products supplied by POWER-FLEX are subject to the GENERAL CONDITIONS for the SUPPLY of Standard Bulk Goods such as MECHANICAL, ELECTRICAL and ELECTRONIC COMPONENTS, SCREWS and NAILS NLS E, issued 1995 by the Organizations for the Engineering Industries in Denmark, Finland, Norway and Sweden, except as provided for in this document.

 2.     The PREAMBLE of NLS E, Section 1, is deleted and substituted as follows:

These General Conditions shall apply with all products delivered by POWER-FLEX without any express agreement. They shall be considered an integral part of any agreement between POWER-FLEX and its customers by reference hereto in order confirmations or any other document, letter or other communication from POWER-FLEX and they shall be provided to the customer at any given opportunity. Any deviations herefrom except as herein provided shall be made in writing.

 3.     DELIVERY

Section 5. The section is deleted and shall be substituted as follows:

         All deliveries are ex works unless expressly agreed in writing.

  4.    PAYMENT

Section 11. The last line shall read as follows:

         The compensation cannot exceed the agreed price plus interest from the due date until the date of termination.

 5.     LIABILITY FOR DEFECTS

         Section 16. The following paragraph shall be added:

         However, POWER-FLEX will compensate the customer's costs incurred by carrying out dismantling, sorting, inspection and reinstallation of faulty products. This compensation shall under no circumstances exceed 20% of the purchase price of the products, which are proven faulty.

6.      ALLOCATION OF LIABILITY FOR DAMAGE CAUSED BY THE PRODUCT

         Section 17. The last paragraph shall be deleted, however, this new paragraph shall be added:

         Power-Flex will assist by providing technical data. 

7.      DISPUTES AND APPLICABLE LAW

         Section 20. The section  is deleted and substituted as follows:

All disputes arising out of or in connection of the contract between the parties shall be decided by the Maritime and Commercial Court, whose address is Bredgade 70, 1260 Copenhagen, Denmark, unless an agreement to subject a dispute to arbitration under the laws of Denmark  governing arbitration has been entered into.

         Section 21. The section is deleted and substituted as follows:

         Any dispute arising out of or in connection with the contract, including the construction of the contact, shall be governed by the laws of Denmark.

Attached : NLS 95 E

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