1. Prices

1.1. Prices are excluding VAT and applies to sales to our customers.

1.2. Prices are based on current Cu price and exchange rates.

1.3. NEK Kabel AS reserves the right to change prices in the event of major changes in indirect or direct costs.

2. Fees / order surcharges

2.1. Cutting charge: Up to NOK 500, - depending on cable type.

3. Payment

3.1. By agreement.

3.2. Late payment interest is charged at the current rate.

3.3. Complaints about the invoice amount must be made in writing within 10 days of receipt of the invoice.

3.4. The goods remain the property of the seller until full payment has been made.

4. Delivery Terms

4.1. Goods delivered EXW Lørenskog unless otherwise agreed in writing.

5. Delivery time – stock goods, procured goods and production goods

5.1. Stock goods: Normal delivery time is 1–3 working days from order receipt (subject to intermediate sales).

5.2. Procurement goods: Normal delivery time is approx. 1–3 working weeks (subject to intermediate sales
from our suppliers).

5.3. Production goods: Normal delivery time approx. 8-20 working weeks.

6. Delivery Deviations

6.1. We reserve the right to deliver and invoice ± 10% of the quantity ordered.

7. Cancellation costs of production orders

7.1. Less than 6 weeks before confirmed delivery: 85% of order value.

7.2. From 6-12 weeks before confirmed delivery: 50% of order value.

7.3. More than 12 weeks before confirmed delivery: 30% of order value.

8. Cancellation costs of procurement orders

8.1. Less than 2 weeks before confirmed delivery: 85% of order value.

8.2. From 2-4 weeks before confirmed delivery: 40% of order value.

8.3. More than 4 weeks before confirmed delivery / not confirmed delivery time from NEK: 20% of order value.

9. Cancellation costs for stock order

9.1. If cable has already been cut: 85% of order value.

9.2. All other cancellations before shipment 0% of order value.

9.3. After shipment, see point 10. Return of goods.

10. Return of goods

10.1. Returns can only be made by agreement with NEK Kabel AS.

10.2. Returns of products in stock at NEK Kabel AS with original packaging are credited with 75% of the invoiced product price.
         The customers must cover all return costs themselves.

10.3. Returns of purchased and manufactured goods + cable that has been cut are credited with 15% of the invoiced price,
         but are conditional on the return being accepted by NEK Kabel AS. The customer must cover all the return costs themselves.

10.4. Incorrectly delivered or defective products are credited with 100% of the invoiced price. NEK Kabel AS covers return shipping.

11. Complaints

11.1. Complaints because of transport damage must be made in writing within 5 working days of receipt.

11.2. In the event of a defective cable being delivered, this will be replaced with a new cable.

12. Consequential liability

12.1. NEK Kabel AS assumes no liability for indirect damages in the form of costs for new installation,
         operational interruptions and the like because of defects in the delivered product or late delivery.

13. Warranty conditions

13.1. NEK Kabel AS guarantees that all products delivered by us are in accordance with the technical
         specifications in the product data sheet.
         Defects due to deficiencies in the customer's requirements specification, assembly errors or incorrect
        handling of the product is NOT covered by this warranty. The warranty means that NEK Kabel AS
        replaces the defective product with a new product of the same or equivalent quality,
        if the product does not have the properties specified. The warranty period is in accordance with the Norwegian Purchase Act.

14. General conditions and terms

14.1. The buyer's general conditions are not binding on NEK Kabel AS unless this has been specifically agreed.

14.2. The agreement and the terms of sale are subject to Norwegian law. Any dispute that may arise in
         connection with the agreement between the buyer and NEK Kabel AS shall be settled in Norwegian judiciary.

15. Code of Conduct

15.1 NEK Kabel AS is obliged to follow the Code of Conduct, and may reject any action or omission that,
        in NEK Kabel AS's opinion, may be considered to violate the Code of Conduct, national or international
        sanctions, export control provisions, etc. or which may reasonably be considered to cause
       NEK Kabel AS reputational damage.

16. Further sales

16.1. NEK Kabel's products cannot be sold/exported to countries that are on the Norwegian Ministry of
        Foreign Affairs' sanctions list at any time.
        (https://www.regjeringen.no/no/tema/utenrikssaker/Eksportkontroll/sanksjoner-og-tiltak1/sanksjoner-og-tiltak)