General Terms and Conditions of Business for Thomas Prescher Services GmbH

1. prices: 
a.    Repairs: When invoicing repairs, we shall base our prices and hourly rates for materials and wages on the actual cost of materials and time. 
b.    Purchase of watches: 
i.    Prices are always ex-factory. 
ii.    All costs incurred after completion of the watch will be borne by the customer. These include: Export administration, export, storage and transport insurance, import costs, import administration. 
iii.    Changes to watches already ordered will be passed on in full to the customer. Requests for changes must be confirmed by us in writing with regard to aesthetics and technical feasibility. As a matter of principle, Thomas Prescher Services GmbH reserves the right to restart agreed delivery periods from the time of confirmation. Hourly rate for changes is CHF200.-.

2. terms of payment:
Payment is generally due on completion and is to be made in cash or within 10 days by invoice before collection of the object. 
a.    Deposits are irrevocable and non-refundable. A down payment, irrespective of its amount, shall be deemed to be a contract concluded under our terms and conditions and as acceptance of our general terms and conditions.
b.    If you have agreed partial payments with us, you agree that these are non-refundable. And a cancellation of the contract is not possible.
c.    Final Invoice: For completed clocks, the customer will receive an invoice for payment of the balance. Deposits paid, regardless of amount, will be forfeited 6 months after the written request to make the final payment due to completion of the clock and the clock will revert to TP. 
d.    In the case of orders for several watches, each watch shall be treated as a separate individual contract.  

3. production can begin at the earliest with the validation of the respective down payment on our account. 

4. guarantee period begins with the issuing of the final invoice. As the watch is ready for delivery at this time.
a.    For repairs and service is 6 months, if not shorter noted in estimate or invoice. In case of doubt, the information in the invoice and not in the estimate applies. 
b.    New watches and custom-made watches receive an individual guarantee period, which is noted on the invoice or in the respective guarantee certificate. Warranty periods for new watches start with the invoice +10 working days.

5. warranty work: Claims for free services must be made immediately upon delivery or collection. Later invocation of guarantee is excluded. 

6. delivery: We shall endeavour to keep to the scheduled delivery periods as far as possible. However, all information on delivery dates is non-binding. Claims against us due to non-compliance with the delivery deadline are excluded.     
a.    All our deliveries are always ex works Ipsach, Switzerland. Transfer of risk is at the workshop door in Ipsach. All costs incurred after completion of the clock shall be borne by the customer. These include but are not limited to: export administration, export, storage and transport insurance, import costs, import administration. 

7. production times and delivery dates depend on many factors. A number of them cannot be influenced by us. Therefore, production times and delivery dates are always estimated and not binding.
a.    For this reason, Thomas Prescher Services GmbH declines any responsibility for consequences resulting from delayed delivery. This applies in particular to consequences relating to third parties. Delayed delivery shall not constitute grounds for cancellation of the contract.

8. repair services:
Acceptance of the repair work must take place within one week after notification of its completion. Any complaints must be reported within a period of one week. 

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9. storage:
The risk for the storage of goods which are not our property in our business premises or in the case of any transports shall in principle be borne by the customer. 
a.    On request, Thomas Prescher Services GmbH will organise a special insurance policy for the customer, e.g. with Swiss Mobiliar. This amounts to approx. 3% of the value to be insured. The contractual relationship is between Mobiliar and the customer, not with Thomas Prescher Services GmbH.

10 Liability: 
a.    With regard to the watches, watch parts etc. handed over to us for repair, we shall only be liable for the care which we are accustomed to exercising in our own affairs. We shall be liable for damage and loss caused by theft, burglary, fire, explosions and cases of force majeure and during trial wear only to the extent that we are covered by insurance. 
b.    Liability on the part of Thomas Prescher Services GmbH for damage and loss of value during repair and warranty work is excluded.
c.    In the event of loss, we shall be liable for the replacement value including the repair value. Any emotional value will not be reimbursed. 
d.    Watch transfers shall in all cases be at the expense and risk of the customer. 

11. warranty:
For any defects which are demonstrably due to faulty materials or workmanship, we do not give any warranty to the extent that we will, at our discretion, either remedy them by free replacement deliveries or repairs in our workshop or grant a price reduction. Labour costs, freight, customs duties, taxes, etc. shall be borne by the customer. The warranty obligation shall lapse if modifications or repairs are carried out by other parties without our approval. Claims for damages are excluded. For components which we do not manufacture or repair ourselves, our warranty is limited to the assignment of claims to which we are entitled against our suppliers on account of any defects. 

12. storage costs:
For watches not collected, due to non-payment of invoices, no reply to cost estimates within 4 weeks or watches not collected for other reasons, we shall charge the customer 5% of the value of the goods/pa for expenses incurred (insurance, storage costs, etc.), but at least CHF 50 per month. The storage costs consist of incurred insurance fees, administration and warehousing costs.

13. reminders:
For late payments we charge reminder fees, interest and compound interest. The fees amount to CHF 50 per reminder. As a rule, the interest rate is the amount of the credit interest of the major Swiss banks for consumer credits plus 3%/pa expense allowance. From the 2nd reminder onwards, Thomas Prescher Services GmbH reserves the right to pursue the invoice or have the goods auctioned off.
a.    In the event of an auction, the remaining amount will be credited to the customer after deduction of our invoice and a handling fee. 
b.    In the event of debt collection, all costs and expenses plus a processing fee of at least CHF 500 shall be borne by the customer. Furthermore, Thomas Prescher Services GmbH reserves the right to auction off the goods in the event of non-fulfilment. 

14. Cost estimates are always subject to a charge and are normally invoiced at our usual hourly rates. 
a.    Estimates only represent a non-binding estimate of the repair costs for us. If an inspection or disassembly is necessary to determine the damage, we shall be entitled to carry this out at the expense of the customer. If we consider further repairs or deviations from the original contract to be necessary during the repair, we shall be entitled to carry these out and to invoice them. 

15. If a point should violate current case law in whole or in part, the remaining agreements shall remain in force.

16. legal recourse against our general terms and conditions of business is expressly excluded.

17. Place of jurisdiction: Swiss law is exclusively applicable. The application of the United Nations Convention on Contracts for the International Sale of Goods (CISG), known as the Vienna Sales Convention, is explicitly excluded. The sole place of jurisdiction is Biel, Switzerland.

Ipsach, May 2008

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