PRECIOSA General Terms and Conditions 

1.0 General Provisions 

1.1 By ordering the goods or services (hereinafter as “goods”), concluding a contract as stated below or by taking delivery of the goods from PRECIOSA the Buyer confirms acceptance of these General Terms and Conditions (hereinafter as “GTC”) and declares that he understands the content of the GTC. GTC are an integral part of the contract as stated below and represent a complete mutual agreement between PRECIOSA and the Buyer. 

1.2 PRECIOSA includes company PRECIOSA-LUSTRY, a.s., IN 12645, with registered seat at  Nový svět 915, 471 14 Kamenický Šenov, Czech Republic, incorporated in the Commercial  Register held by the Regional Court in Ústí nad Labem, file B 37, and companies belonging together with it in one financial holding group of mutually related entities that deal with the goods (in particular the company Preciosa International, Inc., USA, Preciosa (SG) Pte Ltd., Singapore, Dongguan Preciosa Trading Co., Ltd., PRECIOSA International (HK) Limited, based in Hong Kong, PRECIOSA Gulf FZCO based in the UAE, PRECIOSA CENTR, A.O. based in Russia, and PRECIOSA UK based in Great Britain).

1.3 GTC take precedence over the terms and conditions of the Buyer, which are hereby rejected. Provisions in the contract as stated below take precedence over the GTC. All written agreements between the parties remain unchanged and shall prevail over the GTC. 

2.0 Ordering 

2.1 Any offers from PRECIOSA are non-binding, unless a validity period of the offer is concluded. PRECIOSA may at any time change the specification of the goods and the range of goods. 

2.2 The Buyer orders goods by any means of written communication, including e-mail, fax, letter or internet communication, allowing identification of the Buyer. Regardless of the method of communication used when ordering goods, the order shall become binding and a purchase contract for the supply of goods is concluded (hereinafter as “contract”) after PRECIOSA confirms the order by order confirmation or by conclusion of the written purchase contract, or if no order confirmation or written purchase contract exists, then at the moment of delivery of the goods, they are ordered. 

2.3 A contract confirmed by PRECIOSA may not be changed or cancelled by the Buyer unless approved in writing by PRECIOSA. In the event that the Buyer requests changes to the contract and PRECIOSA agrees, the Buyer is obliged to pay to PRECIOSA all costs associated with the change, especially the costs of production and delivery of goods, administrative activities, documentation, or other costs.

2.4 PRECIOSA may reject the acceptance of any order. 

3.0 Packaging 

3.1 Goods will be delivered in the appropriate packaging so as to avoid the risk of damage to the goods during transportation to the final destination. 

3.2 Unless the packaging is specifically agreed upon, it shall be chosen by PRECIOSA. 

4.0 Prices 

4.1 Prices are concluded in the contract. Should a contract not exist, prices shall be charged according to the price list of PRECIOSA. 

4.2 The prices are EX WORKS (named place) in accordance with INCOTERMS 2020, unless otherwise agreed. 

5.0 Delivery 

5.1 Deliveries will be made EX WORKS (named place) in accordance with INCOTERMS 2020. The delivery date is concluded in the contract. 

5.2 Partial deliveries are permitted and may be billed. Transport insurance and any customs fees are governed by INCOTERMS 2020. 

5.3 If the Buyer returns the goods without meeting the conditions for return or withdrawal from the contract, the Buyer shall pay all PRECIOSA costs associated with the manufacture and transportation of the goods, in particular the costs associated with material, labour, transportation, transport insurance and customs fees.

5.4 In the event of the Buyer's delay in taking over the goods or due to the Buyer's inactivity in taking over, transport, storage or installation of the goods, PRECIOSA will store the goods and the Buyer is obliged to pay PRECIOSA a storage fee in the amount of 0.1% of the price of the goods for each day of storage up to a total of 10% of the price of the goods. PRECIOSA is entitled to set off the storage fee against any payment made by the Buyer, in particular against the deposit.

5.5 If the Buyer is more than 3 months late with taking over the goods, PRECIOSA is entitled to withdraw from the contract and is entitled to reimbursement of costs incurred in performing the contract until the delivery of notice of withdrawal according to sec. 15.6 GTC.

6.0 Terms of Payment 

6.1 The Buyer shall pay 50% of the price as a deposit within 7 days of concluding the contract and 50% of the price before shipment of the goods to the Buyer, unless otherwise agreed in the contract.

6.2 Payment shall be deemed to have been made if the full amount payable to PRECIOSA is credited to PRECIOSA. The Buyer shall make payment directly to PRECIOSA, or to the bank account designated by PRECIOSA. 

6.3 In case of the Buyer’s late payment of the price or its partial, PRECIOSA has the right to charge the Buyer default interest of 10% p. a., which is applied from the following day of the invoice due date until the date of actual payment. No requirement of the Buyer extends the maturity date. 

6.4 In case of the Buyer’s late payment of the price or its partial, PRECIOSA has the right at its sole discretion to defer or cancel any further deliveries of the goods without this step being considered a breach of contract, or withdraw from the contract. PRECIOSA is entitled to the reimbursement of costs incurred in performing the contract until delivery of a notice of deferment, cancellation or withdrawal according to sec. 15.6 GTC.

6.5 The Buyer may not at its counterclaim withhold any payment of the price, or a partial thereof. The Buyer shall not deduct its counterclaim amount from the purchase price without the express consent of PRECIOSA. 

6.6 The Buyer may assign the rights and obligations towards PRECIOSA only with the written consent of PRECIOSA.

6.7 In the event that a third party pays for the Buyer the price with the consent of PRECIOSA, the parties acknowledge that it is the Buyer who has paid the price.  

7.0 Retention of Title 

7.1 PRECIOSA retains title to all supplied goods until all payments for goods are made. The Buyer shall store such goods separately from other goods until all payments are made. 

7.2 Notwithstanding the foregoing provisions, the risk of damage to the goods shall pass to the Buyer upon delivery of the goods. 

7.3 A Buyer who is not the end customer is entitled under normal business circumstances to sell the goods. The Buyer shall retain any revenues resulting from the sale separately from their other funds for the benefit of PRECIOSA until all payments for goods are made. 

8.0 Licences and Permits 

8.1 When any licence or another authorization from government authorities is required to initiate or maintain a business relationship, the party which has its registered seat in a state that requires them shall arrange for licenses or permits unless local laws provide otherwise. If the party obliged to arrange this fails to meet this requirement, the other party is not in delay and shall have the right to withdraw from the contract. PRECIOSA is entitled to reimbursement of costs incurred in performing the contract until a delivery of notice of withdrawal according to sec. 15.6 GTC.

9.0 Complaints and Warranty 

9.1 PRECIOSA shall check prior to shipment that all the goods to be delivered to the Buyer are free of defects. 

9.2 The Buyer is obliged to immediately inspect after receiving the goods whether the goods have apparent quality defects (hereinafter as “apparent defect”). The Buyer is also obliged to immediately inspect after receiving the goods whether the quantity of the goods is compliant with the contract (hereinafter as “quantitative defects“). 

9.3 The Buyer must submit any complaints for apparent or quantitative defects to PRECIOSA within 14 days from receipt of the goods or acceptance of the goods, whichever occurs first. If the goods are detained in a customs warehouse, the Buyer is obliged to make claims according to the first sentence within 14 days from receiving the goods from the customs warehouse. Complaints made later might be rejected by PRECIOSA. 

9.4 The warranty period for the hidden qualitative defects lasts 12 months and runs from the date of delivery of goods and, in the case of detention of goods in a customs warehouse, from the first day when the Buyer could take over the goods from the customs warehouse (hereinafter as „warranty“) unless local laws provide otherwise. Claims for hidden defects of the goods must be made without undue delay after the occurrence of this hidden defect, no later than 14 days from the discovery of the defect, but always until the end of the warranty period. If the installation of the goods is a subject of the contract, the warranty period runs from the completion of the installation. If the installation of the goods is a subject of the contract, but the installation is not subsequently performed by PRECIOSA due to the Buyer or due to a change in the contract, the warranty runs from the take over of the goods by the Buyer.  

9.5 If the Buyer is more than 3 months late with taking over the goods, the warranty period runs from the first day following the expiration of 3 months from the day when the goods were ready for delivery, even if the goods were subsequently taken over by the Buyer.

9.6 The Buyer is not entitled to make a claim from apparent or hidden quality defects of the goods according to the previous paragraphs for goods sold at a lower price due to the occurrence of a defect.

9.7 Warranty or defect liability does not apply to small deviations from the goods specifications. Characteristics of the sample (such as colour, condition and size) listed in catalogues, brochures, sample cards, etc., are only binding if they are expressly concluded. In any case, however, the deviations caused by the manufacturing process, such as in colours, size, weight, and quality that meet the common quality standard for this type of mass-produced or handmade goods are acceptable.

9.8 Warranty or defect liability also does not apply to the goods which, in the opinion of PRECIOSA, were subjected to normal wear, abuse, alteration or attempted repair, neglect, misuse or accidents. The warranty does not cover parts of the goods subject to wear, such as batteries, lamps, LEDs, LED tapes, electrical parts and power supplies, other consumables, etc. Unauthorized modification of the goods, disregarding provided instructions and information given or disregarding the instruction for normal use of the goods and/or other improper use of the goods shall remove PRECIOSA from any liability.

9.9 Warranty or defect liability does not apply to any damage caused by:

1) Fire, water, storage or operation of the goods in insufficiently insulated premises where water or condensing humidity can occur;

2) Storage or operation of the goods outside the temperatures between -20° C up to 45° C;

3) Intervention of the Buyer or a third person to the goods without the prior consent of PRECIOSA;

4) Intervention of the Buyer or a third person to the goods inconsistent with installation instruction, the maintenance and cleaning manual and other documents that are part of the packaging of the goods, or intervention in violation of technical standards or safety regulations;

5) Lack or excess of electricity in the electricity network, use of goods under the wrong voltage or connection to prohibited or inappropriate energy sources.

9.10 Complaint must be notified by the Buyer to PRECIOSA in writing (e-mail, fax or letter). The notice must be supported by a detailed description of the defect, in particular by describing how the defect is manifested, photo-documentation of the defect and documents of purchase. If the Buyer does not provide a purchase document, PRECIOSA may reject the defect complaint. 

9.11 If a complaint for qualitative defects of the goods is notified and is well-supported and recognized by PRECIOSA, then PRECIOSA after an agreement with the Buyer (or if no such agreement is made then at its own discretion) shall either repair the goods or replace them with non-defective goods or shall provide the Buyer with a reasonable discount or complete refund in exchange for the faulty goods. Should PRECIOSA settle the defect complaint by replacing the goods or a part thereof and if it instructs the Buyer to remove and dispose of the original goods or part thereof, the Buyer is obliged to remove and destroy the original goods or part thereof at his own expense and liability. 

9.12 All the Buyer's costs associated with the complaint, including the costs of delivery of the goods to PRECIOSA, are covered by the Buyer.

9.13 If a complaint for quantitative defect is notified and PRECIOSA recognizes it, then PRECIOSA, after an agreement with the Buyer (or if no such agreement is made then at its own discretion), delivers the missing goods or issues a credit note crediting the Buyer. 

9.14 PRECIOSA makes no other warranties and assumes no other obligations, unless expressly agreed. 

9.15 All warranties apply only to the Buyer. The Buyer shall not transfer such warranties or provide warranties on behalf of PRECIOSA to third parties. However, the Buyer who is not the end customer can itself provide warranties to its customers. 

10.0 Liability and Damages 

10.1 Liability of PRECIOSA is limited to direct damage to goods, and unless otherwise agreed in writing, cannot exceed the goods’ price paid. 

10.2 PRECIOSA shall never be liable for indirect, incidental, extraordinary, consequential or other related damage, in particular, it is not liable for loss profits, if the liability is not expressly provided for by law for cases of intentional conduct and/or gross negligence. In this case, the Buyer shall bear the burden of proof. 

10.3 PRECIOSA assumes no liability in connection with the further processing of the goods. 

10.4 Product specifications and technical instructions are given according to the best knowledge for the goods. These specifications and instructions do not relieve the Buyer of the obligation to carry out its own tests of the proposed techniques and tests of suitability of the products for the intended application by the Buyer or his customer. Using the proposed techniques, as well as the application, use and processing of the goods are the sole responsibility of the Buyer. If the Buyer carries out further modifications, processing or other application of the goods (hereinafter as “modified goods”), PRECIOSA's specifications and instructions do not release the Buyer from liability for the modified goods. Should the Buyer modify the goods, the Buyer shall defend, indemnify and hold PRECIOSA harmless against any and all claims of third parties based on liability for damage caused by the modified goods. 

11.0 Force Majeure 

11.1 In the event of circumstances that could not be foreseen at the time when the parties entered into the Contract and which obstruct the fulfilment of contractual obligations, the party shall have the right to postpone the fulfilment of obligations until normal commercial conditions are restored. 

11.2 Only those events that could not be prevented or averted, such as fire, war, revolution, military action, blockade, strikes, natural disasters, actions of state authorities, epidemics, delays in transport or customs formalities and lack or loss of energy and materials that were not caused by the party shall be considered cases of force majeure. 

11.3 The party who discovers a circumstance of force majeure is obliged to immediately inform the other party and notify the suspension of performance of the contract. The delivery period is extended by the period of suspension of the contract.

11.4 If the duration of such a force majeure circumstance exceeds 12 months, each of the contracting parties will have the right to withdraw from the contract. In the event of withdrawal for the reason stated in the previous sentence, neither party will have the right to claim any compensation from the other party, but PRECIOSA will be entitled to reimbursement of costs incurred in performing the contract until a delivery of notice of withdrawal according to sec. 15.6 GTC.

12.0 Intellectual Property Rights 

12.1 PRECIOSA is the owner of registered verbal and combined trademarks of PRECIOSA in the Czech Republic and in other countries. 

12.2 The Buyer is only entitled to use the trademark for PRECIOSA goods packaging for the purpose of identifying the goods. 

12.3 The Buyer who is not the end customer has the right, with the written consent of PRECIOSA, to mark a display cabinet or another exhibition place where exclusively PRECIOSA goods are placed for sale with PRECIOSA trademarks. 

12.4 Any other use of trademarks, logos and other intellectual property rights owned by PRECIOSA, especially in connection with goods, services, trademarks, logos and other intellectual property rights of the Buyer or third parties is prohibited. 

12.5 The use of any intellectual property rights of PRECIOSA in publications, regardless of the type of media, is subject to the prior consent of PRECIOSA. Without written permission, such publication is prohibited. 

12.6 Any technical documentation, plans, drawings, shop drawing models, brochures, catalogues, etc. handed over to the Buyer shall remain the intellectual property of PRECIOSA. They are protected by copyright and against unfair competition. By taking these materials, the Buyer undertakes to protect the confidentiality of the information and not to use these materials for purposes other than those for which they were provided. 

12.7 The Buyer may not make any changes to the PRECIOSA goods, promotional materials, or packaging. 

12.8 The Buyer undertakes to oblige its customers who are not the end customers to comply with these rules regarding treatment of the intellectual property of PRECIOSA. 

12.9 PRECIOSA shall not be liable for an infringement of intellectual property rights of third parties, if it occurs in connection with goods manufactured or sold on the basis of drawings, shop drawings, designs, models, specifications or other production documents provided to PRECIOSA by the Buyer (hereinafter as “Buyer’s design”). The Buyer declares that he is the sole executor of the rights to the goods according to the Buyer's design. Buyer must defend, indemnify and hold PRECIOSA harmless against any and all third-party claims based on intellectual property rights, or otherwise related to the manufacture or sale of the goods according to the Buyer’s design. In the event of a third party submitting a claim against PRECIOSA based on the infringement of intellectual property rights in connection with goods according to the Buyer’s design, the Buyer is obliged to take over negotiations with the third party and to take part in any dispute in place of PRECIOSA at its own costs. 

12.10 The wider use of trademarks, logos and other intellectual property of PRECIOSA is permitted for Buyers who are not end customers and who receive authorization from PRECIOSA and become its authorized distributors. 

12.11 Authorization entitles the authorized distributor to free use of the PRECIOSA brand and trademarks for the purpose of marketing activities to promote sales of PRECIOSA goods according to the PRECIOSA terms for authorized distributors. 

13.0 Personal Data Protection 

13.1 PRECIOSA processes the personal data of a natural person in accordance with Regulation (EU) 2016/679 and the legislation of the Czech Republic.

13.2 The subject of the processing is personal identification data, especially name and surname, identification number, seat, e-mail address, telephone number and tax identification number, should the Buyer provide them.

13.3 PRECIOSA process the personal data for the purpose of communicating with the Buyer, preparation of the order or contract, sending of marketing communication, creation of an account and provision of customer services.

13.4 The legal ground for the processing is the fulfilment of the contract or the execution of measures taken before the conclusion of the contract at the request of the Buyer and the legitimate interest of PRECIOSA.

13.5 PRECIOSA for the conclusion of the contract uses services of subcontractors as other recipients of personal data, in particular software providers and administrators of software, websites, as well as accountants and tax service providers, including auditing, and mailing service providers.

13.6 Personal data are maintained in the territory of EU and outside the territory of EU but they are not handed over to international organizations.

13.7 PRECIOSA has adopted legal, organizational and technical measures for the protection of processed personal data.

13.8 Personal data will be processed for the duration of the contract and for the duration of the limitation period.

13.9 The buyer has the right to (i) access, (ii) rectificate, (iii) erasure, (iv)  restrict the processing, or (v) object the processing, (vi) data portability, (vii) complain before the Data protection office, with the registered office at Pplk. Sochora 27, 170 00 Prague 7, www: https://www.uoou.cz. 

14.0 Special Conditions for Supplies of Project Luminaires 

14.1 A project luminaire are goods made by PRECIOSA specially for the Buyer and approved by the Buyer in particular on the basis of a shop drawing (hereinafter as “shop drawing”) or the goods according to the Buyer's design for the equipment of a specific space, especially a hotel, resort, palace, residence, villa, etc. 
 

14.2 Goods on the basis of a shop drawing will be delivered in compliance with this shop drawing. The Buyer is obliged to inspect the shop drawing immediately no later than 14 days after the handover and claim any defects to PRECIOSA, or approve the shop drawing in writing. The parties acknowledge that the shop drawing confirmed by the Buyer's representative, in particular the Buyer's architect, is a shop drawing confirmed by the Buyer. The parties acknowledge that shop drawing delivered to PRECIOSA by the Buyer, but confirmed by a person other than the Buyer's authorized representative, is also a shop drawing confirmed by the Buyer. Any changes to the confirmed shop drawing requested by the Buyer will be charged additionally above the limit of the agreed price. 

14.3 The production period of the goods delivered on the basis of a shop drawing runs from the approval of the shop drawing by the Buyer. The Buyer’s delay in approving the shop drawing extends the total delivery period for the duration of the delay.

14.4 Where any goods that need installation are concerned, the Buyer is obligated to follow the instructions given by PRECIOSA in the installation instructions. In case such installation is a part of the contract, the Buyer is obligated to: 

1) Deliver to PRECIOSA the information on the load capacity (reference tonnage) of the installation site and information on the electrical network specification at the installation site. At PRECIOSA’s request, the Buyer is required to photo document the installation site, hand over the documentation of fastening and securing elements for the installation of the goods (hereinafter as “fixing”) and hand over the scheme of the installation site with the dimensions and obstacles all no later than 14 days after the delivery of the request; 

2) Provide PRECIOSA with information who is his representative for arrangements regarding the installation of goods, including his/her e-mail and telephone, and to ensure that the representative is available during the installation. The Buyer will ensure that the representative is authorized to act on behalf of the Buyer and legally bind the Buyer regarding solution of any defects of the installation site, defects of fixing and changes of the goods;

3) Hand over the installation site to PRECIOSA in a condition that is suitable for installation, i.e. clean, without dust or any other impurities, and with sufficient space for the erection of such scaffolding. The Buyer shall prevent unauthorized persons from accessing the place of installation for the purpose of securing safety and protection of property. PRECIOSA shall not be liable for any damage occurred to or injury suffered by unauthorized persons due to their presence at the installation site; 

4) Stop any other works that might limit installation of the goods at the installation site during the installation. If a delay of installation occurs due to other works being carried out at the installation site or due to failure to comply with the term when such installation should commence, the term of performance shall be prolonged by the number of days corresponding with the number of days of such delay without entitlement to contractual penalties. Moreover, the Buyer shall pay PRECIOSA extra costs relating to the useless presence of PRECIOSA’s or third person installers at the installation site. The Buyer shall confirm readiness of the site one week before the installation date at the latest; 

5) Manufacture fixing corresponding with individual characteristics of the goods and installation site.

6) Connect the goods to the electricity network by a person that holds authorizations complying with the legal order of the given country of the installation site or other international regulations; 

7) Ensure PRECIOSA’s installers access to the site; 

8) Pay for any extra work relating to any additional modifications of the goods above the framework of the approved documentation, e.g. extension or shortening of suspension parts of such goods, minor modifications of decorative parts, changes of electric parts of the goods, etc.; 

9) Get all local permits for PRECIOSA’s third party installers that will authorize them to access the site. 

14.5 The Buyer agrees to undertake any cost (bank, money transfer, insurance) that may arise out of the Czech Republic for the payments that may be already or yet to be done. 

14.6 PRECIOSA does not supply fixing and is not responsible for the properties of fixing, unless expressly agreed in the contract. 

14.7 The goods manufactured with a use of adhesive bonding (hereinafter as “glued joint”) require a regular check on the safety by the Buyer. The lifetime of the glued joint is 20 years under the condition that the Buyer complies with all the obligations stated in these GTC and norm DIN 2304 Adhesive bonding technology dated March 2016 (hereinafter as “DIN 2304”). PRECIOSA is liable only for the defects as the manufacturer of the glue used for the glued joint. The use of a glued joint is indicated in the Shop Drawing and is marked with symbols of safety class S1, S2 or S3 according to DIN 2304. S1 is a glued joint without mechanical bonding and indicates the high risk and high safety requirements requested from the Buyer. S2 is a joint with mechanical bonding and indicates a medium risk and medium safety requirements requested from the Buyer. S3 is a joint with or without mechanical bonding and indicates low risk and low safety requirements requested from the Buyer. The glued joints for each safety class are specified in DIN 2304. The goods manufactured with the use of a glued joint cannot be brought into contact with unsuitable chemicals, a temperature outside the range of -20 ºC to 45 ºC, or be exposed to UV exposure. Upon the Buyer’s consent with the Shop Drawing containing the indication of the glued joint, the Buyer declares that he is aware of the glued joints’ risks and agrees that he accepts such risks. A Buyer who orders goods with an S1 glue joint is obliged to carry out regular inspections on the glued joint strength at his own expense every 3 years from the receipt of the goods. The Buyer is required to carry out the inspection only by a person demonstrating qualification for glued joints (EAB, EAS or EAE) and providing a valid certificate (DVT) or diploma (EWF). The buyer is obliged to carry out at his own expense at each inspection the record of the inspection, identify the controlling person and make a photocopy of the certificate or diploma of the controlling person. At PRECIOSA’s request the Buyer is obliged to make at least 2 photographs of the glued joint and send them to PRECIOSA. Photographs have to give a true and fair view of the condition of the glued joint.

15.0 Final Provisions 

15.1 The Buyer is obliged to inform PRECIOSA without delay, within 3 days at the latest, about a change in the Buyer's identification data, a change in the registered office or other change in the Buyer's data. 

15.2 The Buyer is obliged to inform PRECIOSA without delay, within 3 days at the latest, about a commencement of the Buyer's insolvency proceedings or a decision on bankruptcy (hereinafter as "insolvency").

15.3 In addition to the withdrawal stated above in these GTC, PRECIOSA also has the right to withdraw from the contract if:

1) The Buyer is in insolvency;

2) The Buyer does not intend to take over the goods or pay the price of the goods or part thereof, or

3) In the event of a material breach of the Buyer’s obligation in the contract or GTC.

15.4 In addition to the withdrawal stated above in these GTC, the Buyer also has the right to withdraw from the contract if:

1) PRECIOSA is in insolvency;

2) In the event of a material breach of PRECIOSA's obligations.

15.5 Withdrawal from the contract is effective upon delivery of the withdrawal to the other party and the contract is terminated from the beginning.

15.6 If the contract is terminated for reasons other than proper performance, i.e. if the contract is terminated mainly by withdrawal from the contract, PRECIOSA is entitled to reimbursement of costs incurred in performance of the contract or in connection with it until its termination, especially material costs and work performed for the production, transport or administration associated with the delivery of goods. PRECIOSA is entitled to set off any payment made by the Buyer, in particular the deposit, against the incurred costs.

15.7 PRECIOSA reserves the right to change these GTC at any time at its sole discretion, unless the GTC are part of the contract for the supply of the project luminaire. PRECIOSA is obliged to notify the Buyer of changes by publishing on the website https://www.preciosalighting.com/terms or in writing. The Buyer has the right to terminate the contract within 30 days of notification.

15.8 All contracts entered into between PRECIOSA and the Buyer shall be governed by Czech law. Application of the United Nations Convention on Contracts for the International Sale of Goods is expressly excluded. The parties undertake to try to reach an amicable settlement of disputes arising from this contractual relationship. If an amicable settlement cannot be reached, all disputes arising out of contracts entered into between PRECIOSA and the Buyer, who has the registered seat in an EU member state, EEA, United Kingdom of Great Britain and Northern Ireland or in Switzerland and in connection with them shall be decided by a Czech court with jurisdiction according to the registered seat of PRECIOSA. 

15.9 Disputes arising out of contracts entered into between PRECIOSA and the Buyer, who is not stated in the previous section GTC and in connection with them shall be decided finally by the Arbitration Court attached to the Czech Chamber of Commerce and the Agricultural Chamber of the Czech Republic according to its rules by one arbitrator appointed by the president of the arbitration court in a simplified procedure without ordering an oral hearing pursuant to Section 29 of the Rules of Procedure. The parties declare that the decisions reached by the arbitration court will be recognized by both parties as final and binding. 

Effective from 1st June 2021