GENERAL TERMS & CONDITIONS OF GLOBAL AIR COMPASS MARINE LOGISTICS GROUP - FOR WAREHOUSING AND STORAGE, FOR ROAD DELIVERIES FTL & LTL CARGO, FOR AIRFREIGHT DELIVERIES, FOR OCEAN FREIGHT DELIVERIES – UPDATE FEBRUARY 2020

General:

1. Global Air Compass Marine Logistics Group (hereafter also referred to as “Global”) exclusively trades as a shipping agent. These general conditions are applicable to all our proceedings and agreements.

2. As soon as an order has been issued, it is automatically agreed that the client has accepted both our offer and the above-mentioned conditions.

3. In case of discrepancies, the terms of the general conditions of Global Air Compass Marine Logistics Group will prevail.

Placing an order:

4. The orders should be issued in writing (email) or electronically (EDI, though Internet).

- One working day and latest by 11.00 hrs, before the collection/delivery take place.

- Shipments less than 2.500kgs and / or less then 2 loading metres are considered LTL or groupage cargo.

5. For the shipments cancelled within 1 working day before collection/delivery and after 12.00 hrs, then 70% of the agreed rate will be charged.

6. For the shipments cancelled on the day of collection/delivery, then 100% of the agreed rate will be charged.

7. Charges for a later adjustment of the delivery terms (incoterms): EUR 25.00 per shipment.

8. Should the transport order not be indicated with shipment dimensions Global will charge a minimum of 0.5 loading metres.

9. Shipments should have visible and clearly readable name and address of the consignee or shipper. The absence of it shall lead to longer transit times.

10. Should the number of colli found exceed the initial number of the colli ordered, then this will lead to longer transit times and possibly extra costs. These extra costs will be charged.

Goods:

11. The goods to be forwarded are safe merchandised, well packed. In the event that goods are not well packed Global reserves itself the right to refuse these goods. Global is not liable for damage of goods due to insufficient or unsuitable packaging, even if this is received inadvertently.

12. If Global will need to re-pack, then cost for re-palletising or re-packing will be charged.

13. Assignments for transporting ADR shipments must be given in writing, in advance, and must be provided with all necessary information needed to carry out the transportation in compliance with all legal requirements. This includes but is not limited to the sender’s declaration, the Material Safety Data Sheet and / or UN numbers. In case the goods are not properly packed, Global reserves itself the right to refuse these goods. Rates for the transportation of dangerous goods will be mentioned separately.

14. For arranging ADR transport, a surcharge applies depending on the country or destination and / or origin and the shipment size.

ADR surcharges:

- Shipments within BENELUX: 10% on the tariff agreed upon the entire shipment (min EUR 10.00 and max EUR 100.00 per shipment).

- Shipments within other European destinations and Turkey: 10% on the tariff agreed upon the entire shipment (min EUR 25.00 and max EUR 250.00 per shipment).

- ADR to Greece and Scandinavia: on request.

- Previous surcharges do not apply to the transport of ADR goods under: Class 1, Class 2, Class 4.1, Class 5.2, Class 6.2, Class 7, and UN 1790. This is only possible on request.

15. Assignments for transporting dangerous goods must be given in writing, in advance and must be provided with all necessary information to enable shipment is compliance to the DGR air regulations and the IMO regulations for sea cargo.

16. Maximum weight for shipments to be picked-up / delivered is 1.000 / per collo.

17. The transportation of indivisible over-dimension loads larger than 240 x 120 x 220 cm (length x width x height) is only possible upon request.

18. Transportation of goods with a length of more than 400cm and weight over 25kgs in only on request.

19. Maximum stackable height of goods is 220 cm. If height exceeds this, then boxes need to be broken down. For this additional fee will be charged.

20. Re-labelling if needed will be charged at EUR 15.00 per shipment.

Financial:

21. The standard payment term is 14days from the invoice date at a maximum credit limit of EUR 4,500.00 unless otherwise is agreed on in writing.

22. Global reserves to itself the right of allowing certain (legal) entities and/or (non-natural) legal persons less or no credit, and/or demanding a shorter payment term.

23. Increasing the standard payment term and/or the credit limit are to be applied for at Global prior to a possible co-operation.

24. Advance payment is required if the freight payer does not have a VAT code number, or if a client is new to Global.

25. Any possible claims against carriers / collaborators of Global will not suspend the payment of invoices of Global nor is the client authorized to offset any claims against those payment obligations.

26. Any collection costs resulting from exceeding the agreed payment term and/or credit limit are always fully borne by the freight payer. The European interest rate for late payment is due from the day following the expiry date of the payment term.

27. Rates are valid for 1 loading and 1 unloading address.

28. Rates are based on a kilogram, pallet – or loading metre quote per shipment and are charged in EUR.

- Gross weight = actual weight

- 1 cubic metre = 333kgs

- 1 loading metre = 1.850kgs

- 1-euro pallet non-stackable = 0.40 loading metre

- 1 block pallet (industrial pallet) non-stackable = 0.50 loading metre

29. All invoices are issued & sent by email, and are automatically accepted by the customer.

Any clarification on the invoiced charges, should be requested from Global Air Compass written within 5 working days, after the receipt of the invoice.

When no clarification is requested written, customer automatically accepts Global Air Compass invoice, and same shall be settled in accordance to the credit policy mentioned on the invoice.

If a customer exceeds the agreed credit limit or there is a continuous default in payment behaviour, Global Air Compass can hold up shipments until payments take place in order.

Global Air Compass rewards invoices which are settled earlier than the credit provided, with 1.85% of total revenue, with a maximum amount of EUR 25.000 per year, and imposes interest of 3.85% on all delayed invoices above 60 days + 3-month EURIBOR.

30. Rates are in the currency specified.

31. The rates charged are based on information with regard to the volume the frequency provided by you. If after expiry of a certain period of time this data does not match, we reserve the right to adjust the rates to the actual situation.

32. Applicable for air cargo: the conversion of the total amount to be paid is based on the day selling rate, applicable for foreign bank notes, 1 day before arrival of the consignment, plus 2.75%

33. Applicable for sea cargo: the conversion of the total amount to be paid is based on the boat rate applicable at that time, which is determined by the carrier.

34. Costs of third parties such as import duties, VAT, hangar rent, demurrage, detention, gas measurement, degassing, scanning or physical inspection of cargo and transfer costs of

fellow agents will be charged to you. If Global will need to pay in cash these charges, same will be requested from you.

35. The collection fee is 3% and is charged on the total FOB charges, air cargo costs, sea cargo costs, import duties and any VAT with the minimum of EUR 50.00

36. Without written or requested, Global will not include any transport insurance

37. Global is not responsible to provide any additional customs documents, unless the invoiced documents of EXA, T1.

38. All invoices are issued & sent by email, and are automatically accepted by the customer.

Any clarification on the invoiced charges, should be requested from Global Air Compass within 5 working days, after the receipt of the invoice.

When no clarification is requested, customer automatically accepts Global Air Compass invoice, and same shall be settled in accordance to the agreed credit policy, and days stated on the invoice.

The same procedure stands for the collaborators of Global, where they need to send all their invoices within 5 working days after the execution of the operation, otherwise the invoice shall not be accepted for payment, in the event this is a continuous practice.

39. Without a valid POD the client reserves the right not to settle the invoice of Global. The same stands with the collaborators of Global, where they need to send a valid / signed / stamped POD within 1 working day after the execution of the operation/delivery.