Terms & conditions of trades

 

A. What this agreement covers:
This agreement is between you the Client and the Company's holding company Consolidated Accounts which supply services in sourcing chemicals and that allow our clients to perform a number of chemical trading functions on accounts linked to the service.

Please note that we are brokers acting for and on behalf of our clients and that we are not liable if a third party manufacturer defaults. We do take bank references where and as available on the manufacturer and we offer  refunds as per terms below. (see Q, R & X herein).

B. Accepting the agreement
When you use Internet based services such as e-mails without electronic signatures, or authorize others to use them, you agree to the terms and conditions of the entire agreement. Should you not agree with these terms please advice us before any financial transactions take place.

C. Description of Online Trading Services
Internet trading require you hold an account with us or you place a deposit/pre-payment with us.

D. Monthly service charge
There is no monthly service charge for accessing your linked accounts with Chemicals-International.

E. Other charges
You should note that, that you might incur charges for:
· Normal banking fees and service charges
· Any communications cost or related trouble-shooting expenses incurred on your behalf
· Additionally, fees may be invoked for added services of a special nature.

F. Joint accounts
When our services are linked to one or more joint accounts, we may act on the verbal, written or electronic instructions of any authorized signer. Joint accounts using the same ID will be identified as one service.

G. Changes to agreement
We may change this agreement at any time in accordance with the then applicable laws. For example, we may add, delete or amend terms or services. We will notify you of such changes by mail or electronic message. If you maintain our services after the effective date of a change, you indicate your agreement to the change.

H. Cancellation of services
Our services remain in effect until either you or the Company terminates them. You may cancel our service at any time by notifying us of your intent to cancel in writing. This cancellation applies to our services and does not terminate your Company accounts. We may terminate your participation for any reason, including inactivity, at any time. We will try to notify you in advance, but we are not obliged to do so.

We retain the right to withhold any payments if such are deemed illegal in any country.

I. Contact by the Company or affiliated parties
No Company employee will contact you by e-mail or phone requesting your account ID or online passwords.
If you are contacted by anyone requesting this information, please contact us immediately.

J. Reporting unauthorized transactions
We are obliged by law to report any suspicious or illegal activity.

K. Disclosure of account information
We will disclose information to third parties about your account or your transactions:
· At our discretion, to our affiliates, agents and service providers who require the information for purposes of a decision in respect of an application for credit, insurance or any other legitimate business purpose
· When required by law or at the request of a regulator
· If you give us your permission
· As reasonably required by our affiliates, agents and service providers
· On a closed account, if we reasonably believe you have mishandled it.

L. In case of errors or questions about your electronic transactions
Contact us at once if you think:
· Your statement or transaction record is wrong
· You need more information about a transaction listed on your statement
· An unauthorized person has discovered your password
· Someone has transferred or may transfer money from your account without your permission
· Bill payment transactions have been made without your authorization
We must hear from you no later than 60 days after we have sent the first statement on which the problem or error appeared. If you tell us verbally, we may require you to send us your complaint or question in writing or by secure online e-mail within 10 bank business days. Online Clients may use secure online e-mail. When you contact us, please provide the following information:
· Your name and account number
· The date and dollar amount of the transaction in question
· The name of the payee if the transaction in question is a payment
· The transaction number assigned by Online Banking, if available
· A description of the transaction about which you are unsure
Please explain as clearly as you can why you believe there is an error or why you need more information.
We will tell you the results of our investigation within 10 bank business days after we hear from you, and we will promptly correct any error we have made. If we need more time, however, we may take up to 180 days to investigate your complaint or question.
If we conclude there was no error, we will send you a written explanation after we complete our investigation.

M. Compromised passwords
Your Online ID and password are your keys to access Online Purchasing. Be careful in selecting and maintaining them to protect your information. Tell us at once if you believe your Online password has been compromised. The best way to minimize your loss is to call us immediately.
When you give someone your Online Purchasing and password, you are authorizing that person to use your service, and you are responsible for all transactions that person performs while using your service. All transactions that person performs, even those transactions you did not intend or want performed, are authorized transactions. After you notify us that the person is no longer authorized and we have reasonable time to act on your notice, additional transactions by that person will not be authorized transactions. Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions.

N. Additional terms and conditions of service for commercial transactions in patented products
Products under patent are offered for research & development purpose only. In some cases items covered by valid patents in any country are not offered or supplied to those countries. The patent position in the concerned country should be verified by the client.

O. Company As Agent
The Company acts as the "agent/broker" of the Client for the purpose of performing duties in connection with the purchase and release of goods, the securing of export licenses, the filing of export documentation on behalf of the Client and other dealings with Government Agencies etc.

P. Advancing Money. All charges must be paid by Client in advance.

Q. Our liability for failure to complete transactions
If we do not complete a transaction, or in the correct amount according to our agreement with you, we will be liable for your losses up to and not exceeding the amount you have deposited with us.

Exception hereto is in cases where you have accepted that we use a third party intermediary or supplier. In such cases refunds, excluding cost of case admin. & bank cost related to the whole transaction, are repaid immediately or where third part is involved as/when/if the third party has paid us for such cost in full.

Client agrees that in connection with any and all services performed by the Company, the Company shall only be liable for its negligent acts, which are the direct and proximate cause of any loss to Client, including loss or damage to Client's goods, and the Company shall in no event be liable for the acts of third parties.

For instance, we will not be liable:
· If, through no fault of ours, you don't have enough available credit in your account to cover the transaction in time for contractual delivery or your fail to deposit the required amount on time to complete the transaction. In such cases refunds shall be minus cost incurred.
· If it is reasonable to conclude that you knew about any technical or practical, incl. legal reason, for a malfunction or inadequacy of the transaction before or after you started the transaction.
· If circumstances are beyond our control (such as fire, flood or acts of God, laws, revolutions, war & insurrections, strikes, local banking practice, fraud, illegal exports, malfeasance, incl. incompetence or error from suppliers, shippers or others, which prevented or delayed the transaction.
- If offers made by electronic e-mails or any other means are not confirmed by irrevocable payment.
- Products protected by valid patents are not offered for sale in countries where the sale of such products constitutes a patent infringement - however, liability for patent infringement is exclusively agreed to be at buyer' risk.
- There may be other exceptions not specifically mentioned.

R. No liability for the selection or services of third parties.
Unless services are performed by persons or firms engaged pursuant to express written instructions from the Client, Company shall use reasonable care in its selection of third parties, or in selecting the means, route and procedure to be followed in the handling, transportation, clearance and delivery of the shipment; Advice by the Company that a particular person or firm has been selected to render services with respect to the goods, shall not be construed to mean that the Company warrants or represents that such person or firm will render such services nor does Company assume responsibility or liability for any action(s) and/or inaction(s) of such third parties and/or its agents, and shall not be liable for any delay or loss of any kind, which occurs while a shipment is in the custody or control of a third party or the agent of a third party; all claims in connection with the Act of a third party shall be brought solely against such party and/or its agents; in connection with any such claim, the Company shall reasonably cooperate with the Client, which shall be liable for any charges or costs incurred by the Company.

S. Quotations not binding. Quotations as to fees, rates of duty, freight charges, insurance premiums or other charges given by the Company to the Client are for informational purposes only and are subject to change without notice; no quotation shall be binding upon the Company unless the Company in writing agrees to undertake the purchase, handling or transportation of the shipment at a specific rate or amount set forth in the quotation and payment arrangements are agreed to between the Company and the Client.

T. Insurance. Unless requested to do so in writing and confirmed to Client in writing, Company is under no obligation to procure insurance on Client's behalf; in all cases, Client shall pay all premiums and costs in connection with procuring requested insurance.

V. No Duty To Maintain Records For Client. Client acknowledges that pursuant to Sections 508 and 509 of the Tariff Act, as amended, (19 USC §1508 and §1509) it has the duty and is solely liable for maintaining all records required under the Customs and/or other Laws and Regulations of the United States; unless otherwise agreed to in writing, the Company shall only keep such records that it is required to maintain by Statute(s) and/or Regulation(s), but not act as a "recordkeeper" or "recordkeeping agent" for Client.

W. The Client agrees that the Client has an affirmative, non-delegable duty to disclose any and all information required to import, export, or enter the goods.

X. Indemnification/Hold Harmless. The Client agrees to indemnify, defend, and hold the Company harmless from any claims and/or liability arising from the importation or exportation of Client's merchandise and/or any conduct of the Client, which violates any Federal, State and/or other laws, and further agrees to indemnify and hold the Company harmless against any and all liability, loss, damages, costs, claims and/or expenses, including but not limited to attorney's fees, which the Company may hereafter incur, suffer or be required to pay by reason of such claims; in the event that any claim, suit or proceeding is brought against the Company, it shall give notice in writing to the Client by mail at its address on file with the Company.

Z. Governing Law
This services agreement shall be governed by and construed in accordance with the laws of Delaware, USA or the Kingdom of Denmark at the Company’s discretion and choice.