Terms & Conditions of Sales

1. Interpretation

For the purposes of these Terms and Conditions of Sale and Supply (“Conditions”): “Buyer” means the person, firm or company which places an order for purchase of Products and/or Services as identified in any such order or Proposal as the case may be. “Conditions” means these terms and conditions of sale and supply as from time to time varied by the Supplier. “Contract” means the agreement between the Supplier and the Buyer arising as a result of the Buyer’s submission of an order for the Supplier's Products and Supplier’s acceptance and/or, in the case of Services, an agreement between such parties for the provision of Services by Supplier, as constituted by a Proposal. Such Contract shall be deemed to incorporate and be governed by these Conditions. “Products” means goods supplied as agreed to be supplied by the Supplier to the Buyer under any Contract including, where applicable, any Software. “Proposal” means a proposal document signed by the Supplier and the Buyer describing Services to be provided to or for the Buyer, subject to these Conditions. “Services” means any services which the Supplier has agreed to provide to or for the Buyer under any Contract, as more fully described in the relevant Proposal. “Supplier” means NTi Audio AG or any of its affiliates as named in any quotation or Proposal.

2. Basis of Sale


No term or condition of the Buyer’s order additional to or different from these Conditions shall become part of any Contract unless explicitly agreed to in writing by the Supplier. Retention by the Buyer of any Products delivered by the Supplier, receipt by the Buyer of any Services performed by the Supplier or payment by the Buyer of any invoice rendered hereunder, shall be conclusively deemed acceptance of these Conditions.

The Supplier’s failure to object to any provision contained in any communication from the Buyer shall neither be construed as a waiver of these Conditions, nor as an acceptance of any such provision.

3. Quotations

Prices, specifications and delivery date referenced in the Supplier's quotations are for information only and shall not be binding on the Supplier until all technical requirements have been agreed and the Supplier has accepted the Buyer's order. Quotations terminate if the Buyer does not place an order with the Supplier within 30 days.

4. Orders

By submitting an order to the Supplier, the Buyer agrees to be subject to these Conditions in their entirety. All orders must be "bona fide" commitments showing definite prices and quantities and mutually agreed shipping dates. No order, whether or not submitted in response to a quotation by the Supplier, shall be binding upon the Supplier until accepted by the Supplier.

5. Prices and Taxes

The prices for Products shall be the price quoted by the Supplier to the Buyer, and the fee for Services shall be the fee agreed in the Proposal or, in either case, as otherwise agreed between the parties in writing. Prices and fees do not include taxes, transport charges, insurance and export and/or import charges or duties including without limitation sales, value added tax, use or excise taxes, applicable to the Products sold and or Services supplied under any Contract, which taxes and other charges may, in the Supplier’s discretion, be added by the Supplier to the sale price and or fees or billed separately and which taxes and other charges shall be paid by the Buyer unless the Buyer provides the Supplier with any necessary tax exemption certificate. Unless otherwise agreed in writing, the Buyer shall be liable to pay the Supplier’s charges for transport, packaging, insurance and export and/or import clearance.

6. Shipment and Delivery

6.1 The Supplier shall deliver or arrange for delivery of Products Ex Works or Carriage Insurance Paid (EWX or CIP Incoterms 2010) to the Buyer’s premises or other delivery point agreed between the parties. Any dates quoted by the Supplier for delivery of Products are approximate only and the Supplier shall not be liable for any delay in delivery of Products howsoever caused and time for delivery is not of the essence.

6.2 The Supplier reserves the right to make delivery of Products by installments and to tender a separate invoice in respect of each instalment. When delivery is to be by instalments or the Supplier exercises its right to deliver by installments or if there is delay in the delivery of any one or more instalments for whatever reason the Buyer shall not be entitled to treat the Contract as a whole as repudiated.

7. Risk and Passing of Title

Risk of loss and damage to the Products shall pass to the Buyer on delivery in accordance with Section 6. Title to the Products will pass to the Buyer upon receipt of cleared funds by the Supplier in full payment of the Supplier’s invoice. Any claims for loss, damage or mistaken delivery shall be filed with the carrier and notified to Supplier within 5 days of the date of delivery. Products shall be deemed finally inspected and accepted within ten days after delivery unless notice of rejection is given to the Supplier within such period. Acceptance shall constitute acknowledgement of full performance by the Supplier of all obligations under the Contract except as stated in Section 11.

8. Services

8.1 The Supplier shall provide Services in accordance with these Conditions and the terms of the relevant Proposal.

8.2 The Buyer shall, upon the Supplier’s reasonable request and otherwise as required, provide the Supplier with all necessary information and materials to enable the Supplier to provide Services in accordance with the terms of any relevant contract. The Buyer will be responsible for the completeness and accuracy of all such information and materials provided, and will ensure that it is and remains entitled to provide the same to the Supplier for use in connection with provision of the Services.

9. Terms of Payment

9.1 Each shipment of Products shall be a separate transaction and the Buyer will be invoiced on shipment. The Supplier shall be entitled to invoice the Buyer, in respect of Services, monthly in advance. Terms of payment shall be thirty (30) days from date of invoice, subject to clause 9.3.

9.2 All amounts due under a Contract shall be paid in full by the Buyer without deduction, withholding, setoff or counterclaim for any reason whatsoever, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise, save as may be required by law. All bank charges shall be borne by the Buyer.

9.3 The Supplier may, in its sole discretion, determine at any time that the Buyer's financial condition requires full or partial payment in advance or the provision of security for payment by the Buyer in a form satisfactory to the Supplier.

9.4 If the Buyer fails to make any payment when due then, without prejudice to any other rights and remedies available to the Supplier, the Supplier shall (at its option) be entitled:
(i) to treat the Contract as repudiated by the Buyer, to suspend or cancel further delivery of Products and/or the provision of Services or any part thereof under that Contract or any other Contract between them and claim damages and/or receive reasonable cancellation fees;
(ii) to affirm the Contract and claim damages from the Buyer; and
(iii) to recover, in addition to the payment, interest on the unpaid amount (both before and after judgment) at the rate of 7% per annum until payment in full is made. Such interest shall be calculated daily.

10. Products

10.1 The Supplier may modify specifications provided the modifications do not adversely affect the performance of the Products. In addition, the Supplier may furnish suitable substitutes for materials unobtainable because of priorities or regulations established by government authority, or non-availability of materials from its suppliers.

10.2 All descriptions, illustrations and any other information relating to the Products contained in the Supplier’s catalogues, brochures, price lists, advertising material and any sales or other particulars or literature are made by way of general description, are approximate only and for the general guidance and information of the Buyer. They shall not constitute warranties or representations by the Supplier nor shall they form part of any Contract.

11. Warranties

11.1 Supplier guarantees the function of its products and the individual components for a period of one year from the date of sale. During this period, defective products will either be repaired free of charge or replaced.

11.2 These guarantee provisions do not cover damage caused by accidents, transportation, incorrect use, carelessness, non-original accessories, the loss of parts, operation with non-specified input voltages, adapter types or incorrectly inserted batteries. Supplier accepts no responsibility for subsequent damage of any kind. The warranty will be voided by carrying out repairs or services by third parties who are not part of an approved Service Centre.

11.3 Statutory Rights: Consumers may have legal (statutory) rights under applicable national laws relating to the sale of consumer products. This warranty does not affect your statutory rights. You may assert any legal rights you have at your sole discretion.

11.4 The Supplier shall not be liable for the breach of the warranty in respect of Products supplied if: (i) the Buyer makes further use of such Products after giving the notice to supplier; (ii) the defect or failure arises from the Buyer’s own fault; (iii) the defect arises from any drawing, design or specification supplied by the Buyer or from other materials or other property supplied by the Buyer or from any parts or items that have not been completely manufactured by the Supplier; (iv) the defect arises other than out of manufacture including without limitation, circumstances of accident, misuse, unforeseeable use, neglect, alteration, improper installation, improper adjustment, improper repair, or improper testing; (v) the defect arises out of the use of the Products in conjunction with products or materials not reasonably contemplated by the Supplier; (vi) the failure or defect results from the Buyer’s unauthorized addition to or modification of, or failure to comply with the Supplier’s written instructions relating to, the Products or Services; and (vii) the failure or defect arises out of any breach by the Buyer of its obligations to provide information to the Supplier under this Agreement.

11.5 If the Buyer fails to pay when due any portion of any payment due from the Buyer to the Supplier under a Contract or otherwise, all warranties and remedies granted under this section may, at the Supplier’s option, be terminated.

12. Liability

12.1 Nothing in these Conditions shall exclude or limit the Supplier's liability for
(i) fraud,
(ii) death or personal injury caused by its negligence
(iii) any other liability to the extent that the same may not be excluded or limited as a matter of law.

12.2 The Supplier shall be liable to the Buyer for loss of or damage to the physical property of the Buyer caused by its negligence up to CHF 500’000 in respect of any event or series of connected events. For the avoidance of doubts, neither damage to nor loss or corruption of data shall constitute loss of or damage to physical property.

12.3 Subject to Section 12.1 and 12.2, in relation to Products, the Supplier’s maximum aggregate liability under or in connection with the supply, non-supply or purported supply of Products under any Contract, whether arising in contract, tort (including negligence) or otherwise, shall in no event exceed 125 % of the total amount payable by the Buyer in respect of Products under that Contract.

12.4 Subject to Section 12.1 and 12.2, in relation to Services, the Supplier’s maximum aggregate liability under or in connection with the supply, non-supply or purported supply of Services under any Contract, whether arising in contract, tort (including negligence) or otherwise, shall in no event exceed 125% of the total amount payable by the Buyer in respect of Services under that Contract and, in respect of Services continuing beyond one year, shall in no event exceed in any year 125% of the total amount payable by the Buyer in respect of Services in that year.

12.5 Subject to Section 12.1, the Supplier shall be under no liability to the Buyer for any loss of profit, loss of income, loss of use, loss of business, loss of revenue, loss of goodwill, or for any indirect or consequential loss or damage of any kind, in each case howsoever arising, whether such loss or damage was foreseeable or in the contemplation of the parties and whether arising in tort (including negligence), contract or otherwise.

13. Software

The Supplier shall at all times have and retain title and full ownership of all software, firmware, programming routines, and documentation relating to such software supplied by the Supplier for use with the Products, and of all copies made by the Buyer (collectively “Software”) and grants the Buyer a nonexclusive and non-transferable license to use such Software solely for use with the Products.

14. Intellectual Property Rights

14.1 Notwithstanding delivery of and the passing of title in any Products and subject to section 13 and 14.3, nothing in these Conditions or any Contract shall have the effect of granting or transferring to, or vesting in, the Buyer any intellectual property rights in or to any Products and/or Services.

14.2 Buyer acknowledges and agrees that all property, copyright and other intellectual property rights in any work or tangible deliverable item arising from or created, produced or developed by the Supplier under or in the course of provision of any Services (the “Works”), wherever in the world enforceable, including without limitations all right title and interest in and to the Services and all documents, data, drawings, specifications, articles, sketches, drawings, reports, inventions, improvements, modifications, discoveries, tools, scripts and other items relating thereto shall immediately upon creation or performance vest in and shall be and remain the sole and exclusive property of the Supplier and the Buyer shall acquire no right, title or interest in or to the same except as expressly stated in these Conditions.

14.3 The Supplier grants to the Buyer a non-exclusive, non-transferable license to use such of the Works as are necessary, and to the extent necessary, for the Buyer to obtain and utilize the intended benefit of the Services.

14.4 If any claim is made against the Buyer that the Products or Services infringe the patent, copyright or other rights of any third party, the Supplier shall indemnify the Buyer against all losses, damages, costs and expenses awarded against, or incurred by, the Buyer in connection with the claim or paid, or agreed to be paid, by the Buyer in settlement of the claim provided that:
(i) the Supplier is given full control of any proceedings or negotiations in connection with any such claim;
(ii) the Buyer shall give the Supplier all reasonable assistance for the purposes of any such proceedings or negotiations;
(iii) except pursuant to a final award, the Buyer shall not pay or accept any such claim, or compromise any such proceedings without the consent of the Supplier;
(iv) the Buyer shall do nothing which would or might vitiate any insurance policy or cover which the Buyer may have in relation to such infringement and shall use its best endeavors to recover any sums due thereunder and this indemnity shall not apply to the extent that the Buyer recovers any sums under any such policy or cover;
(v) the Supplier shall be entitled to the benefit of, and the Buyer shall accordingly account to the Supplier for, all damages and costs (if any) awarded in favor of the Buyer which are payable by, or agreed with the consent of the Buyer (which consent shall not be unreasonably withheld) to be paid by, any other party in respect of any such claim; and
(vi) without prejudice to any duty of the Buyer at common law, the Supplier shall be entitled to require the Buyer to take such steps as the Supplier may reasonably require to mitigate or reduce any such loss, damages, costs or expenses for which the Supplier is liable to indemnify the Buyer under this section 14.4, which steps may include (at the Supplier’s option) accepting from the Supplier non-infringing, modified or replacement Products or Services.

14.5 The Supplier shall have no obligation or liability under Section 14.4 insofar as the infringement arises from:
(i) any additions or modifications made to the Products and/or Services in question, otherwise than by the Supplier or with its prior written consent;
(ii) any information provided by the Buyer to the Supplier including without limitation any specification;
(iii) performance by the Supplier of any work required to any Products, or performance of any Services, in compliance with the Buyer's requirements or specification;
(iv) a combination with or an addition to equipment not manufactured or developed by the Supplier; or
(v) the use of Products beyond that scope established by the Supplier or approved in writing by the Supplier.

14.6 Without prejudice to Section 12.1, this Section 14 states the entire liability of the Supplier and the exclusive remedy of the Buyer with respect to any alleged infringement of intellectual property rights belonging to a third party arising out of or in connection with the performance of any Contract. This Section 14 shall be subject to the limits of liability in Sections 12.3, 12.4 and 12.5.

15. Force Majeure 

Notwithstanding anything to the contrary in these Conditions, the Supplier shall not be liable to the Buyer for any loss or damage which may be suffered by the Buyer as a direct or indirect result of the supply of Products or Services being prevented, delayed or rendered uneconomic by reason of circumstances or events beyond the Supplier's reasonable control. If due to such circumstances or events the Supplier has insufficient stocks to meet all its commitments the Supplier may apportion available stocks between its customers at its sole discretion.

16. Confidential Information

Each party undertakes to keep confidential, not use for its own purposes and not without the prior written consent of the other party disclose to any third party, any information of a confidential nature belonging or relating to the other party which may become known to it unless such information is or becomes public knowledge (other than by breach of this Section) or is required to be disclosed by order of a competent authority.

17. Cancellation, Rescheduling & Termination

17.1 Orders for Products accepted by the Supplier may be cancelled or rescheduled by the Buyer only with the written consent of the Supplier (which consent the Supplier may withhold for any reason) and the Buyer shall indemnify the Supplier against the cost of all labor and materials used in connection with the order so cancelled or varied and against all loss, damage cost, charges and expenses suffered or incurred by the Supplier as a result of that cancellation or variation.

17.2 Contracts for Services shall commence on the commencement date identified in the relevant Proposal and, subject to earlier termination in accordance with Section 17.3 or 17.4, shall continue in force for the initial term as prescribed in such Proposal and thereafter for any renewal period (if any) set out in the Proposal and thereafter without limit of period unless or until terminated by either party in accordance with Section 17.3 or 17.4.

17.3 Without prejudice to Section 17.4, either party may terminate a Contract for Services by giving ninety days (90) written notice to the other party.

17.4 Either party may terminate a Contract for Services immediately at any time by written notice to the other party if the other party commits a material breach of the Contract for Services which is incapable of remedy or which it fails to remedy within thirty days (30) of receiving written notice requiring it to be remedied.

17.5 Upon termination or expiry of any Contract for Services, each party shall, except to the extent permitted or required to exercise of perform its continuing rights, or obligations hereunder, return to the other party all property of the other party then in its possession, custody or control and shall not retain any copies of the same.

17.6 Termination of any Contract in accordance with these Conditions shall not affect the accrued rights or liabilities of the parties at the date of termination.

18. Insolvency of the Buyer

(i) the Buyer becomes insolvent, has a receiver, administrative receiver, administrator or manager appointed of the whole or any part of its assets or business, makes any composition or arrangement with its creditors, takes or suffers any similar action in consequence of debt or an order or resolution is made for its dissolution or liquidation (other than for the purpose of solvent amalgamation or reconstruction) or carries out or undergoes any analogous act or proceedings under an applicable foreign law; or
(ii) the Buyer ceases, or threatens to cease to carry on business
then, without prejudice to any other right or remedy available to the Supplier, the Supplier may treat any Contract as repudiated and/or withhold any further supply of Products and/or Services without any liability to the Buyer and, if any Products and/or Services have been supplied but not paid for, the price or fees shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary.

In any such event, the Supplier reserves the right to repossess the Products and to arrange for collection of the Products from the Buyer.

19. General

19.1 These Conditions and any Contract shall be governed in the high court in Vaduz by the laws of Liechtenstein. Claims or disputes arising out of or in connection with these Conditions or any Contract shall be referred to mediation before resorting to litigation. The mediation process will be commenced by service by one party on the other(s) of a written notice that the dispute is to be referred to mediation (the "Commencement Notice"). The parties will then participate in good faith in the mediation. No party may commence any court proceedings arising out of any dispute in relation to these Conditions or any Contract until it has attempted to settle the dispute by mediation and either the mediation has terminated or the other party has failed to participate in the mediation. In the event that any party resorts to litigation, each party irrevocably agrees to submit to the exclusive jurisdiction of the courts of Liechtenstein over any claim or dispute arising out of or in connection with these Conditions or any Contract but the Supplier shall be entitled to bring a claim against the Buyer in any court of competent jurisdiction. Nothing in this Section 19.1 shall prevent any party from having recourse to a court of competent jurisdiction for the sole purpose of seeking a preliminary injunction or such other provisional judicial relief as it considers necessary.

19.2 Failure by the Supplier to exercise or enforce any rights hereunder shall not be deemed to be a waiver of any such right nor operate so as to bear the exercise or enforcement thereof any time or times thereafter.

19.3 If any provision or part of a provision of these Conditions is or is held by any court of competent jurisdiction to be unenforceable or invalid, such unenforceability or invalidity shall not affect the enforceability of any other provision.

19.4 The Buyer may not assign, transfer, novate or otherwise dispose of all or any of its rights or delegate any of its obligations thereunder, in whole or in part, without the prior written consent of the Supplier.

19.5 These Conditions and the relevant Contract constitutes the entire agreement and understanding between the parties with respect to its subject matter and supersedes any prior agreement, understanding or arrangement between the parties, whether oral or in writing. No representation, undertaking or promise shall be taken to have been given or implied from anything said or written in negotiations between the parties prior to the date of any Contract except as expressly stated in that Contract. The Buyer shall not have any remedy in respect of any untrue statement made by the Supplier upon which the Buyer relied in entering into a Contract (unless such untrue statement was made fraudulently or was as to a fundamental matter including a matter fundamental to the Supplier’s ability to perform its obligations under the Contract) and the Buyer’s only remedies shall be for breach of contract as provided for in these Conditions. Misrepresentations as to fundamental matters shall be subject to the terms of Section 12.

19.6 Variation to any Contract must be in writing and signed by the authorized representatives of the parties.

19.7 All notices given under these Conditions shall be sent to the address of the other party set forth in the quotation or to such other address as such party may designate from time to time by such notice. Notice shall be regarded as properly given if sent in writing and shall be deemed to have been served on delivery if sent by hand, 2 days after dispatched if sent by post, and on confirmation of transmission, if sent by facsimile.