HNK LIMITED

Terms and Conditions of Sale

GENERAL

This agreement is between itera LTD (hereinafter called the company) and the Customer (hereinafter called the Customer).

Any order accepted by the company shall be deemed to incorporate these terms and conditions (even if included in, or referred to in, the document placing the order) shall be binding on the Company, unless specifically accepted by the Company in writing.

PRICES

Unless otherwise agreed in writing by the company, the company reserves the right to vary the price quoted in order to take account of any increase in wages, salaries of costs of materials or service between the date of the order and the date of delivery.

PAYMENT

(1) Terms of payment are cash or cheque at or before the time of collection of goods. These terms shall apply to all present and future transactions and are not negotiable unless agreed in writing by the Company. Upon insolvency or receivership, title to the goods shall pass only upon full payment of all outstanding monies to the Company. The acceptance by the Company of any cheque or negotiable instrument shall not constitute payment until the same has been honoured.

(2) In addition to any right of lien to which the company may be by law entitled, the company shall (in event of the Customers insolvency of going into receivership) be entitled to a general lien on all goods of the customer in the company possession (although such goods or some of them may have been paid for ) for the unpaid price of any goods sold and delivered to the customer by the Company under the same or any other contract.

(3) Without prejudice to any other rights of action the company may have, unless payment is made to the company on the due date for payment, the customers account will be automatically suspended until it is brought within the trading terms offered by the Company.

(4) In the event of an account not being paid in accordance with the terms and conditions offered by the company, the customer will pay to the Company all debt collection agency costs and legal fees (on a solicitor and client basis) incurred by the company in obtaining payment of the amount from the customer.

DELIVERY

(1) Delivery shall be made to the location nominated on the customer order form and the customer shall be liable for all freight costs.

(2) No claim for loss or damage in transit will be entertained in cases where the company has agreed to deliver the goods to the customer unless a separate notice in writing is given to the carrier concerned and the company immediately the goods are received followed by a detailed and complete claim in writing within seven (7) days of delivery.

FORCE MAJEURE

Should the Company be delayed in or prevented from making delivery owing to any cause whatsoever beyond the Company control, such as (but not limited to), Act of God, war, strike, riots, government intervention, industrial stoppage or natural disaster, the company shall be at liberty to cancel or suspend any order without incurring liability for any loss or damage resulting there from.

INSURANCE

Insurance will not be effected by the Company on goods forwarded from the Company premises unless the Company receives written instructions from the customer to insure.

OWNERSHIP

(1)The risk in any goods supplied by the Company to a customer shall pass to the customer when such goods are delivered to the Customer or into custody on the Customer behalf. Ownership of such goods will be retained by the Company until the Customer has discharged all outstanding indebtedness to the Company whatsoever.

(2)Until payment in full of such indebtedness has been made, the customer agrees as followsO:P>

(2.1)The Company is permitted to enter the Customers premises to inspect and or repossess the goods in the event of default of payment.

(2.2)If the customer sells the goods to athird party then the Customer is accountable to the company for the proceeds derived from the sale to the value of the invoices covering the said goods supplied by the Company, and the Customer holds such proceeds on trust for the Company.