General terms and conditions of sale and delivery

Sections III.2, V.4, VIII.2, VIII.4, VIII.6, VIII.7, IX.2, IX.3, XI.2 and XI.3 limit Veltork's liability or the purchaser's rights. Please read them carefully; on request, Veltork will explain them before the contract is concluded.

1. All deliveries and services of Veltork (Guangdong) Technologies Co., Ltd. (“Veltork”) are provided exclusively on the basis of these General Terms and Conditions of Sale and Delivery (“GTC”). They apply to all contracts for the sale and delivery of Veltork products (“Goods”).

2. Veltork refers to these GTC in every quotation and order confirmation, with a link to the version in force, which can be viewed and downloaded at veltork.com/legal/terms. They apply only to purchasers acting in the course of their business, not to consumers.

3. Deviating, conflicting or supplementary terms of the purchaser do not apply, even if Veltork does not object to them or delivers without reservation, unless Veltork has expressly agreed to them in writing. Individual agreements in a written contract or in Veltork's order confirmation take precedence over these GTC.

4. “Written” or “in writing” in these GTC includes e-mail.

1. Veltork's quotations, catalogues, technical documentation and website content are non-binding unless a quotation is expressly designated as binding.

2. A contract is concluded by Veltork's written order confirmation or, failing that, by delivery. Where a binding quotation sets a period for acceptance, a contract is concluded only on timely acceptance.

3. Obvious typing and calculation errors in quotations, order confirmations, price lists and other documents may be corrected.

1. Drawings, dimensions, weights, load ratings and service-life figures in quotations, catalogues and on the website are nominal values with customary tolerances. The agreed quality of the Goods results solely from the order confirmation. Specifications are not guarantees unless expressly designated as such in writing.

2. Results of the online configurator, selection recommendations and other application advice are non-binding and do not form part of the agreed quality. The purchaser is responsible for verifying that the Goods are suitable for its application, in particular for the actual loads, extension, speeds and operating conditions.

3. The purchaser shall inform Veltork in writing of operating or environmental conditions that deviate from the sales documents. If documents or data provided by the purchaser prove incomplete or incorrect and this changes Veltork's scope of supply, the purchaser shall bear the additional costs.

4. Veltork retains ownership and copyright in its quotations, drawings and technical documents. They may not be made accessible to third parties without Veltork's consent.

5. Where Veltork manufactures to drawings, samples or specifications of the purchaser, the purchaser warrants that this does not infringe third-party intellectual property rights and shall indemnify Veltork against any claims arising from such infringement.

6. Veltork may make design changes in the course of product development, provided they do not impair form, fit or function and are reasonable for the purchaser.

1. Unless otherwise agreed, prices are net prices in the currency stated in the order confirmation, FCA Jiangmen, China (Incoterms 2020), including export clearance and standard export packaging, and excluding freight, insurance, import duties, import VAT and other charges in the country of destination.

2. If the agreed delivery date is more than four months after conclusion of the contract, Veltork may adjust the price to reflect documented changes in the cost of steel and other raw materials that occur after conclusion of the contract. Veltork will provide the supporting documents on request. If the adjustment exceeds 10 % of the net price, the purchaser may withdraw from the contract within two weeks of being notified.

3. Unless otherwise agreed, invoices are payable within 14 days of the invoice date without deduction, by bank transfer to the account stated on the invoice. Bank charges outside Veltork's bank are borne by the purchaser. Agreed advance payments are due before production starts.

4. If payment is late, the purchaser shall pay interest on the outstanding amount at 8 percentage points above the main refinancing rate of the European Central Bank, or at 8 % per annum for invoices not in euro. Further claims for damages remain unaffected.

5. If the purchaser is in default of payment, or if after conclusion of the contract it becomes apparent that the purchaser will not perform a substantial part of its obligations (Art. 71 CISG), Veltork may suspend further deliveries and require advance payment or security.

6. The purchaser may only set off or withhold payment on the basis of undisputed or finally established counterclaims.

7. If the purchaser fails to make an agreed advance payment within a reasonable additional period, or finally refuses to accept the Goods, Veltork may terminate the contract and claim liquidated damages of 20 % of the net price, unless the purchaser proves that Veltork's loss is lower. Veltork may instead claim its higher actual loss.

1. The delivery period begins with the order confirmation, but not before all documents to be provided by the purchaser have been received, all technical details have been clarified and any agreed advance payment has been received.

2. The delivery period is met if the Goods are handed over to the carrier at the agreed place by its expiry, or, where the purchaser has to collect them, if notice of readiness for dispatch has been given by its expiry.

3. Veltork is not liable for delay or non-performance caused by impediments beyond its control (Art. 79 CISG) — including war, sanctions, embargoes, export restrictions, strikes, epidemics, fire, power failure, disruption of transport or of the supply of raw materials, and measures by authorities. Delivery periods are extended by the duration of the impediment plus a reasonable start-up time. If the impediment lasts longer than three months, either party may terminate the affected contract; payments already made for undelivered Goods will be refunded.

4. If Veltork is late for reasons other than those in section V.3, the purchaser may claim liquidated damages of 0.5 % of the net value of the delayed Goods for each full week of delay, up to a maximum of 5 % of that value. After this maximum is reached, the purchaser may set a reasonable final deadline and terminate the contract for the delayed Goods if it expires. Further claims for delay are excluded, except in the cases of section IX.1.

5. Partial deliveries are permitted where they are reasonable for the purchaser.

6. If dispatch is delayed at the purchaser's request, Veltork may charge storage costs of 0.5 % of the invoice amount for each month or part thereof, starting one month after notice of readiness for dispatch.

1. Delivery is FCA Jiangmen, China (Incoterms 2020) unless another Incoterm is agreed in the order confirmation. Veltork handles export clearance in China. Risk passes to the purchaser in accordance with the agreed Incoterm.

2. If dispatch is delayed for reasons for which the purchaser is responsible, risk passes on the day of notice of readiness for dispatch.

3. The purchaser is responsible for import clearance, import duties and taxes and for compliance with the import regulations of the country of destination. Veltork provides the commercial invoice, packing list and, on request, a certificate of origin and available material declarations.

4. The purchaser shall check the Goods for transport damage on arrival and have any damage confirmed by the carrier immediately.

1. The Goods remain Veltork's property until all claims arising from the business relationship have been paid in full, to the extent permitted by the law of the country in which the Goods are located. Where that law requires further steps to make the retention of title effective, the purchaser shall assist Veltork.

2. The purchaser may resell the Goods in the ordinary course of business. It hereby assigns to Veltork the claims arising from the resale up to the invoice value of the Goods; it remains entitled to collect them as long as it meets its payment obligations.

3. The purchaser may not pledge the Goods or transfer them as security, and shall notify Veltork immediately of any seizure by third parties.

1. The Goods are free of defects if, at the time the risk passes, they conform to the specification agreed in the order confirmation within customary tolerances.

2. The purchaser shall inspect the Goods within 10 days of delivery and notify Veltork in writing of visible defects within that period and of hidden defects within 10 days of their discovery, with photographs and the order and part numbers. Defects not notified in time are excluded from the warranty.

3. Veltork may inspect the rejected Goods itself, through a person appointed by it in the purchaser's country, or on the basis of photographs or samples supplied by the purchaser. Goods may only be returned with Veltork's prior consent.

4. In the event of a defect, Veltork will, at its choice, repair or replace the defective Goods. If this fails twice, or Veltork does not remedy the defect within a reasonable period, the purchaser may reduce the price or — in the case of a fundamental breach (Art. 25 CISG) — terminate the contract for the defective Goods.

5. For justified claims, Veltork bears the costs of the replacement delivery to the original place of delivery and of agreed return transport. If a claim proves unjustified, the purchaser shall reimburse Veltork's costs of inspection and transport.

6. The warranty period is 12 months from delivery to the purchaser, but ends no later than 15 months after the Goods were handed over to the carrier. Repair or replacement does not restart it.

7. The warranty does not cover natural wear; damage from improper mounting, overload beyond the rated load, unsuitable lubrication or operating conditions, or use outside the specified temperature and speed ranges; repairs or modifications by third parties; or designs, materials and specifications provided by the purchaser.

1. Veltork's liability is not limited for death or personal injury caused by Veltork, for damage caused intentionally or by gross negligence, for fraud, or where mandatory product liability law applies.

2. In all other cases, Veltork is not liable for loss of profit, loss of production or use, or any other indirect or consequential loss, whatever the legal basis.

3. Subject to section IX.1, Veltork's total liability arising from or in connection with an order is limited to the net value of that order.

4. These limitations also apply to the personal liability of Veltork's employees, representatives and subcontractors.

The purchaser shall comply with the export control and sanctions regulations applicable to it and to the Goods, and shall not deliver the Goods, directly or indirectly, to persons, countries or uses that are subject to such restrictions.

1. The contract is governed by the laws of the People's Republic of China, excluding its conflict of laws rules. The United Nations Convention on Contracts for the International Sale of Goods (CISG) applies.

2. Any dispute, controversy, difference or claim arising out of or relating to the contract, including its existence, validity, interpretation, performance, breach or termination, and any dispute regarding non-contractual obligations arising out of or relating to it, shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause is Hong Kong law. The seat of arbitration is Hong Kong. The number of arbitrators is one. The arbitration proceedings shall be conducted in English.

3. Notwithstanding section XI.2, Veltork may also bring claims for payment before the courts competent for the purchaser's registered office.

4. Place of performance for all obligations is Jiangmen, China, unless otherwise agreed.

5. These GTC are published in English, German and Chinese. In the event of any discrepancy, the English version prevails.

6. The purchaser may not assign its rights under the contract without Veltork's written consent.

7. Personal data is processed in accordance with our privacy policy.

8. Should any provision of these GTC be or become invalid, the remaining provisions remain unaffected. The parties shall replace the invalid provision with a valid one that comes as close as possible to its economic purpose.

Status: October 2026