Terms & Conditions

GENERAL TERMS AND CONDITIONS OF URBAN bicycles PTY LTD (for B2B and Retailers)

1. Definitions

1.1 In these general terms and conditions (“Terms”), the following definitions shall apply:
a) URBAN BICYCLES:
The private company with limited liability under Australia law URBAN BICYCLES PTY LTD, having its registered offices in Amsterdam, Australia;
b) Client: all natural or legal persons with whom URBAN BICYCLES enters into an Agreement or with whom URBAN BICYCLES is negotiating about the conclusion of
an Agreement;
c) Agreement: any and every agreement entered into between URBAN BICYCLES and a Client, any amendment thereto and any actions or legal transactions connected
with the execution of that Agreement and, seen in retrospect, any and all actions and legal transactions necessary for entering into that Agreement;
d) Products: any and all goods which are the subject of an Agreement;
e) Order: any order issued by a Client to URBAN BICYCLES in any form whatsoever.

2. Applicability

2.1 The present Terms shall comprise a part of all Agreements and shall be applicable to all URBAN BICYCLES and Client’s actions and legal transactions. Unless the
nature or specific contents of any stipulation in the present Terms should oppose this, the provisions of the Terms shall also be applicable to Agreements under the terms of
which URBAN BICYCLES does not act in its capacity of seller.
2.2 Applicability of any general terms and conditions applied by Client is explicitly dismissed by URBAN BICYCLES.
2.3 In so far as the nature of provided services allows, these Terms apply to all services provided by URBAN BICYCLES to the Client.

3. Quotations, Agreements, Product descriptions and definitions

3.1 A quotation or (price) offer shall not be binding on URBAN BICYCLES and shall qualify only as an invitation to the Client to place an Order.
3.2 An Agreement shall only be concluded to the extent URBAN BICYCLES accepts an Order from the Client in writing or if URBAN BICYCLES executes an Order. If at
the request of Client URBAN BICYCLES carries out any work for Client before an Agreement is concluded, then Client shall remunerate URBAN BICYCLES therefore in
accordance with URBAN BICYCLES customary rates.
3.3 After acceptance of an Order, URBAN BICYCLES shall at all times be entitled to cancel such Order without stating its reasons after acceptance of such Order, in which
case URBAN BICYCLES shall not be obliged to refund any more than advance payments already made by Client, if any.
3.4 URBAN BICYCLES shall observe due care in informing the Client of the figures, measurements, weights, features other information applicable to the Products, but
cannot warrant that these shall be free of deviations. Any specifications or samples demonstrated or made available shall be no more than indications of the Products
concerned. If the Client should be able to demonstrate that the Products supplied by URBAN BICYCLES deviate from the information provided by URBAN BICYCLES or
from the samples or specifications in such a way that the Client can no longer be obliged to comply with the order concerned, the Client shall have the right to dissolve the
Agreement, to the extent however that such a dissolution should be necessary in reason and without URBAN BICYCLES being liable for damages.

4. Amendments

4.1 Notwithstanding article 21, amendments of any provision in any Agreement or in the Terms may only be agreed by written consent of both parties.
4.2 If an amendment or adjustment as referred to in the previous article is agreed, such amendment or adjustment shall only apply to the Agreement concerned, unless
expressly stated otherwise.

5. Prices

5.1 All URBAN BICYCLES prices are in Dollars unless expressly stated otherwise. Insofar as prices are stated in other currency than Dollars, than such statement of price is
deemed to be based on the Dollars equivalent of such price at the date that the price statement was made. Prices are exclusive of value added tax or any other sales tax. Costs
of packing and despatch, import and export duties and taxes and any other surcharges, levies or taxes imposed or charged in respect of the Products and the transportation
thereof shall be for the Client’s account.
5.2 Any change of factors having an impact on the prices of URBAN BICYCLES, including but not limited to rates of third parties, currency exchange rates, insurance rates,
import and export duties and any other charges payable upon importation or exportation, freight charges and other charges, levies or taxes, may be charged on to Client by
URBAN BICYCLES.

6. Payment

6.1 The Client shall pay all amounts due to URBAN BICYCLES within 30 days of the invoice date.
6.2 All payments shall be made by the Client into a bank account to be designated by URBAN BICYCLES without any discount, deduction, suspension or setoff.
6.3 If at any given moment URBAN BICYCLES has doubts about the credit-worthiness of the Client, URBAN BICYCLES is entitled, before (continuing the) performance
of an Agreement, to demand from Client that advance payment of the payable amount is made or that the Client furnishes proper security. Without prejudice to the previous
sentence, URBAN BICYCLES is always entitled to suspend performance of an Agreement or Order in case of one or more outstanding invoices of, in total, more than €
3.500 or in case an invoice is more than 30 days overdue.
6.4 The mere expiration of a payment term puts Client into default. In that case, all claims by URBAN BICYCLES against Client, regardless of their grounds or nature, shall
be immediately payable.
6.5 Without any further default notice, the Client owes interest on all amounts which have not been paid by the last day of the payment term to be calculated as from that date
at a rate equivalent to the statutory commercial interest rate in accordance with article 6:119a Australia Civil Code. Reminders or overviews of outstanding invoices
expressed in principals which have been sent to Client in the meantime, shall under no circumstances imply any forfeiture of rights regarding interest charge for late payment
or expenses.
6.6 If even after the lapse of a payment term further stated by registered mail, fax or e-mail, the Client has not paid the payable amount and interest, Client is bound to
compensate URBAN BICYCLES for all expenses in and out of court. Expenses out of court may at all times be fixed by URBAN BICYCLES at 15% of the invoice amount
with a minimum of 250 dollars exclusive of VAT, without prejudice to the right of URBAN BICYCLES to claim the real expenses instead.
6.7 Invoices sent by URBAN BICYCLES shall not be binding in the sense that, if by mistake invoices mention incorrect amounts, URBAN BICYCLES shall be entitled to
forward correction invoices.
6.8 Regardless of any statement expressing otherwise, payments by Client are deemed to have been settled on debts in the following order: interest, (extra-judicial) collection
charges, principal’s payable (the older ones before newer ones).

7. Delivery period

7.1 The delivery period indicated by URBAN BICYCLES shall be based on the circumstances applicable to URBAN BICYCLES at the time the Agreement is entered into
and, to the extent dependent on performance by third parties, on the information that those third parties provided to URBAN BICYCLES.
7.2 The delivery period shall commence on the date of URBAN BICYCLES written Order confirmation. If, in order to execute the Order, URBAN BICYCLES requires
information from the Client, the delivery period shall commence on the date on which URBAN BICYCLES disposes of all the necessary information or resources, but not
earlier than the date of the written Order confirmation.
7.3 The Client shall not be entitled to claim any compensation in the event of an overdue delivery period. Neither shall the Client be entitled to dissolve the Agreement in
such an event, unless the Client proves that it cannot in reason be required to comply with the relevant part of the Agreement. In such case, the Client shall be entitled to
dissolve the Agreement, provided it has informed URBAN BICYCLES thereof in writing and without prejudice to URBAN BICYCLES right to supply the Products
concerned and to require payment thereof within three weeks of the receipt of such a notification.
7.4 URBAN BICYCLES shall at all times be entitled to deliver in part-consignments.

8. Delivery and risk

8.1 If and to the extent that parties have not explicitly agreed in writing on the (costs of) delivery of the Products and the transfer of risk, the delivery shall be made at
URBAN BICYCLES premises, and the risk of the Products and the packing thereof shall in all cases be transferred to the Client at the moment the Products are ready for
dispatch, while the dispatch shall be effected for the Client’s account and risk. 8.2 If the Client should fail to collect the Products it has ordered or should fail to do so promptly, it shall be in default without requiring a written notice of default. In such
event URBAN BICYCLES shall be entitled to store the Products for the Client’s account and risk and to sell these to a third party. The Client shall remain liable for the
purchase price plus the interest and costs (by way of compensation) after the deduction of the net proceeds of such sale to a third party, if any.

9. Products and services of third parties

9.1 At all times URBAN BICYCLES shall be entitled to engage third parties to fulfil (parts of) an Agreement. If URBAN BICYCLES calls in third parties, the terms and
conditions that apply to the agreement between such third parties and URBAN BICYCLES apply to the Agreement notwithstanding the rights and obligations of URBAN
BICYCLES and the Client arising from the Agreement, to the extent that in the event that these rights and obligations deviate, the terms and conditions that bind URBAN
BICYCLES to any third party shall prevail. The terms and conditions that bind URBAN BICYCLES towards third parties in cases as described above will be provided by
URBAN BICYCLES to the Client free of charge at the Client’s first request.

10. Retention of title

10.1 Irrespective of the actual delivery date, the title to the Products shall not be transferred to the Client until it has paid URBAN BICYCLES the sum outstanding in respect
of the Products in full, including the purchase price, any surcharges, interest, taxes and costs payable pursuant to the Terms or an Agreement and any services rendered or to
be rendered in respect of the Products.
10.2 The Client shall not be authorized to rent, let or make the Products available in use to third parties, to pledge them or to otherwise encumber them in favour of third
parties until URBAN BICYCLES has transferred the title of those Products to the Client.
10.3 If and as long as the title to the Products has not yet been transferred to the Client, the Client shall inform URBAN BICYCLES forthwith in writing in the event that the
Products are seized, attached, garnished or if any other claim should be made with regard to the Products.
10.4 In the event of attachment, seizure, garnishment, bankruptcy, involuntary liquidation or a (provisional) moratorium of payments, the Client shall immediately inform the
administrator or liquidator, the bailiff or the process-server serving the seizure, garnishment or attachment, of URBAN BICYCLES rights of title.

11. Inspection and complaints

11.1 The Client shall be obliged to carefully inspect the Products immediately upon arrival at their destination or to have these examined upon receipt by the Client itself or
any third party acting at its instructions, whichever is earlier. URBAN BICYCLES must be informed in writing of any complaints in respect of defects to the Products or any
discrepancies in quantity, weight or quality between the Products supplied and the specification thereof in the relevant order confirmation or invoice no later than within 5
days after the receipt of the Products. The Client must notify URBAN BICYCLES of defects that could not in reason have been discovered within the abovementioned period
in writing immediately after discovery, but in any case no later than within 30 days of the receipt of the Products. Should the Client fail to inform URBAN BICYCLES
within the abovementioned term, its rights to exercise any of its rights with regard to such irregularity or defect have lapsed, notwithstanding the applicability of a possible
shorter period applied by a carrier or other third party further to article 9.1 above.
11.2 The Client shall be obliged to immediately cease the use of the Products concerned after discovering any irregularity or defect, under penalty of lapse of the right to
exercise any of its rights with regard to such irregularity or defect. The Client shall provide any cooperation URBAN BICYCLES may require in order to investigate the
complaint.
11.3 The Client shall not be entitled to return Products to URBAN BICYCLES before URBAN BICYCLES has agreed in writing to such return. The costs of the return
consignment shall be for the Client’s account, and the Products shall remain at risk of the Client after receipt by URBAN BICYCLES of such Products.

12. Other obligations and responsibility of the Client

12.1 The Client shall at all times make any and all information necessary for the execution of URBAN BICYCLES activities available timely and shall warrant the accuracy
and comprehensiveness thereof.
12.2 The Client shall not be entitled to remove or make invisible any trademarks or identifying marks on the Products, any documents accompanying and/or regarding the
Products.

13. Force majeure

13.1 If URBAN BICYCLES is unable to fulfil any of its obligations towards Client due to force majeure, these obligations shall be suspended during the force majeure
situation.
13.2 If a force majeure situation has lasted for 1 month, both parties have the right to dissolve the Agreement in writing entirely or in part. In the event of force majeure of
URBAN BICYCLES, Client is not entitled to any compensation or damages, not even if URBAN BICYCLES would enjoy any benefit as a result of such force majeure.
13.3 Force majeure on the part of URBAN BICYCLES is to be understood as a case of overmacht as mentioned in article 6:75 Australia Civil Code, and furthermore any
circumstance beyond the control of URBAN BICYCLES hindering the fulfilment of its obligations towards Client entirely or in part or because of which URBAN
BICYCLES cannot be expected in all fairness to fulfil its obligations, regardless whether such circumstance could have been foreseen at the time when the Agreement was
concluded. Such circumstances include but are not limited to fires, acts of terrorism, strikes and lockouts, stagnation or other production problems suffered by URBAN
BICYCLES or its suppliers, or problems in the transportation provided by URBAN BICYCLES or any third parties, any government measures, as well as the inability to
obtain any permit or licence from any governmental body.
13.4 Parties shall notify each other as soon as possible of any (possible) force majeure situation.

14. URBAN BICYCLES Products

14.1 URBAN BICYCLES warrants only those features, qualities of its Products that are explicitly agreed in writing.
14.2 If URBAN BICYCLES should deliver Products to the Client which URBAN BICYCLES has obtained from its own suppliers,
URBAN BICYCLES shall at no time be obliged to honour a warranty or liability in respect of the Client which is more far-reaching than that which URBAN BICYCLES
can claim from its own supplier.
14.3 If, in URBAN Bicycles opinion, the Client has been able to prove that any Products supplied by URBAN BICYCLES to the Client do not function properly, URBAN
BICYCLES may choose, at its sole discretion, between:
• re-supplying the Products upon the return of the Products;
• modifying the Products properly;
• to grant the Client a discount on the purchase price to be agreed by mutual consent.
URBAN BICYCLES shall be fully discharged of its warranty obligations by complying with one of the options described above, and it shall not be held to pay any further
compensation or damages.
14.4 The Products shall remain completely for the Client’s risk even if URBAN BICYCLES should carry out any repairs to the Products.

15. Liability

15.1 Any liability of URBAN BICYCLES shall at all times be limited to the sum insured that shall be paid in such case under the liability insurance policies taken out by
URBAN BICYCLES. These insurance policies have limited cover, inter alia with respect to the amount of the damages and the number of insured events per year. Upon
request thereto, access may be obtained to the insurance cover note. Should no payment be made by virtue of aforementioned insurance policies, regardless of the grounds,
the liability of URBAN BICYCLES shall be limited to the fee that was invoiced by URBAN BICYCLES and paid by Client in connection with the delivery at hand during a
twelve month period directly preceding the date on which the event leading to liability occurred, up to a maximum liability of € 10,000 (ten thousand Dollars).
15.2 In the event that URBAN BICYCLES involves third parties, URBAN BICYCLES shall not accept any liability whatsoever for failure to perform on the part of such
third party except for failure to perform on the part of URBAN BICYCLES itself – to which article 15.1 applies. If the Client brings legal action directly against a third party,
the Client shall indemnify URBAN BICYCLES against any claims by such third party in connection with such claim as well as against all expenses to be incurred by
URBAN BICYCLES.
15.3 All rights of legal action and other powers of the Client towards URBAN BICYCLES in connection with the Products delivered by URBAN BICYCLES shall lapse
upon expiry of a one year term after the date on which the Client has become aware of – or could in all fairness have been aware of – the existence of such rights and powers.

16. Termination

16.1 If Client fails to fulfil any of its obligations arising from the Agreement properly or in time, Client shall be in default and URBAN BICYCLES shall be entitled without
any default notice:
* to suspend the fulfilment of the Agreement until payment has been adequately guaranteed; and/or
* to dissolve the Agreement with Client entirely or in part;
all this without prejudice to URBAN BICYCLES other rights under any Agreement whatsoever and without URBAN BICYCLES being held to any damages.
16.2 If URBAN BICYCLES exercises its right of dissolution as mentioned in article 16.1, URBAN BICYCLES is authorized to set off any amount which may possibly be
refunded to Client with a remuneration for activities already carried out as well as with a compensation for loss of profit. 16.3 In the event of bankruptcy, (provisional) suspension of payment, liquidation or attachment of one or more assets of Client or if Client is aware that any of these
situations may occur, Client must notify URBAN BICYCLES thereof as soon as possible.
16.4 In case of a situation as referred to in article 16.3, all Agreements with Client shall be dissolved by operation of law, unless URBAN BICYCLES notifies Client that it
wishes (part of) the Agreement concerned to be fulfilled, in which case URBAN BICYCLES is entitled without any default notice:
• to suspend fulfilment of the Agreement(s) concerned until payment has been adequately guaranteed; and/or
• to suspend all its payment obligations, if any, towards Client;
all this without prejudice to URBAN BICYCLES other rights under any Agreement whatsoever and without URBAN BICYCLES being held to any damages.
16.5 In the event of a situation as referred to in article 16.3, all URBAN BICYCLES claims against Client shall be immediately payable in full.

17. Transfer of rights and obligations

URBAN BICYCLES is allowed to transfer to third parties the rights and obligations described in any Agreement with Client. If obligations of URBAN BICYCLES are
transferred, URBAN BICYCLES must inform Client a forehand and Client shall be entitled to terminate the Agreement by the date on which the transfer shall take place. In
such case, URBAN BICYCLES shall not be liable for any damages. Client cannot transfer to third parties any rights or obligations from any Agreement unless after consent
thereto by URBAN BICYCLES.

18. Comprehensive Agreement

An Agreement, including these Terms, is a comprehensive representation of the rights and obligations of parties and shall replace all prior written and verbal arrangements,
statements, expressions or acts by parties.

19. Conversion

If and insofar as any provision of these terms cannot be invoked due to any imperative rule of law, the unfair character of these Terms or grounds of reasonableness and
fairness, the provision concerned, as far as contents and essence are concerned, shall in all events have a corresponding meaning to such an extent that the provision
concerned may indeed be rightfully invoked.

20. Applicable law, competent court

20.1 The law of Australia shall be applicable to the present Terms and to all other Agreements. The applicability of the Uniform Law on the International Sale of Movable
Property, the Uniform Law on the Formation of International Contracts for the Sale of Goods as well as the Vienna Convention on the Sale of goods is excluded.
20.2 Any disputes arising from the Agreement or these Terms shall be brought exclusively before the competent court Sydney.

21. Amendment of terms

These terms may be amended on the part of URBAN BICYCLES by mere notification to Client. In the absence of any protest within 30 days after notification the amended
Terms shall apply to all new Agreements as of the day of notification as well as to all current Agreements if and insofar as these are carried out after the day of notification.
The present Terms are filed with the Chamber of Commerce in Australia and can also be found at: www.urbanbicycles.com/termsandconditions