Sales and Delivery Terms

Definitions:

• GMF: Grenen Maskinfabrik ApS, H.C. Ørsteds Vej 7, 9990 Skagen

• Terms: Sales and Delivery Terms

General:

These Terms apply to all offers, orders, and deliveries between GMF and customers when they are agreed in writing or referenced in an offer/order confirmation. Customer terms that deviate from these Terms are only valid if expressly accepted in writing by GMF.

Product Information:

Information provided in product descriptions and price lists is only binding if the agreement explicitly refers to it.

Drawings and Technical Documents:

All technical documents remain the property of the party who supplied them. Documents may only

be used for the agreed purpose and may not be copied or disclosed without permission.

Offers:

• Offers normally include price and delivery time.

• Customer-supplied materials may be included by agreement but are not included in the stated price.

• Offers are issued based on the order quantity specified by the customer.

• An agreement becomes binding only when GMF issues an order confirmation following the customers written acceptance.

• Prices are exclusive of VAT and may be adjusted due to supplier price changes or currency fluctuations.

Payment:

• Payment is due within 14 days from the invoice date unless otherwise agreed.

• Late payments incur interest of 2% per month and a reminder fee of DKK 100 per reminder (max. 3).

• Set-off is not permitted.

• Failure to pay may result in suspension of deliveries, immediate maturity of outstanding amounts, right of retention, and sale of assets to cover outstanding debts.

Delivery:

• Delivery is made at the agreed time unless delayed by the customer. GMF may extend the delivery time or cancel the agreement.

• Delivery is normally EXW (from GMF), and the risk transfers when handed over to the carrier.

• Products ready for collection but not paid for will be stored at the customer’s expense and risk or shipped at the customer’s expense and risk.

  
  

Claims/Compensation:

• The customer must inspect products upon receipt and submit written claims immediately, no later than 8 days after delivery.

• Transport damage must be reported to the carrier.

• GMF will remedy defects but will not compensate for damaged customer materials without prior agreement and contribution margin coverage.

• GMF is not liable for the product’s design, suitability, or any damages caused by the product. Compensation cannot exceed the invoice amount.

  
  

Resale:

GMF bears no responsibility towards subsequent purchasers if the customer resells the product.

Retention of Title:

Ownership remains with GMF until the full purchase price has been paid.

Consequential and Indirect Losses:

GMF is not liable for operating losses, loss of profit, or other indirect losses.

Product Liability:

• GMF is not liable for damage to property or goods while the product is in the customer’s possession.

• The customer must indemnify GMF, take out product liability insurance, and participate in legal proceedings related to product liability.

Force Majeure:

GMF may cancel or postpone delivery without liability in the event of circumstances beyond

GMF’s control, such as war, strike, illness, supplier issues, or natural disasters.

Partial Invalidity:

If any provision is found invalid, the remaining provisions remain in force.

Disputes:

Disputes shall be settled under Danish law at GMF’s venue, the court in Hjørring.

Grenen Maskinfabrik ApS, October 2025