Rental and delivery conditions

Rental and delivery conditions at Altiflex

October 2018

1. These conditions apply to Altiflex (Lessor) renting equipment (Material / The Equipment) to customers (Lesser) - unless otherwise agreed and confirmed in writing by the Lessor.

Rental period / Delivery

2. When the Lessor delivers and collects Equipment from the Lessee: The rental period begins or ends upon delivery and collection at the Lessee's construction site. The tenant is responsible for access and unloading conditions.

When the Lessee collects and returns Equipment from the Lessor: The rental period begins or ends upon delivery and handover at the Lessor's place of business.

3. If delivery does not take place due to the Lessee's circumstances, the beginning of the rental period is counted from the time when the Lessor should have delivered the Material to the Lessee and/or the Lessee should have collected the Material from the Lessor.

Risk / Liability

4. The risk for the rented item passes to the Lessee upon delivery, after which the Lessee has full responsibility for the Material, including theft, vandalism, loss, damage, accidental destruction, etc.

5. The tenant must immediately inform the Landlord in writing of any damage during the rental period. In case of total damage, the Equipment is disposed of at the Renter's expense. Partial damage(s) will be repaired by the Lessor in accordance with the applicable price list.

6. During the rental period, the tenant is responsible for obtaining all necessary permits and for ensuring that the installed equipment complies with applicable rules and safety regulations, including regarding safety railings and any special resolutions for the construction site in question.

7. If the Lessee himself or a third party installs or dismantles the Equipment, the Lessee bears full responsibility for this. Installation must be done in accordance with the Landlord's installation instructions, cf. the website, www.altiflex.dk.

8. The lessor disclaims any responsibility for damage caused by the Material to persons or objects. The Lessee must indemnify the Lessor for any claim in this regard and ensure adequate insurance coverage of his liability for this.

9. The Landlord disclaims any responsibility for the Tenant's direct as well as indirect losses and consequential damages, including operating and profit losses, delays, daily fines, etc. The lessor is also not liable for force majeure.

10. The lessor's total liability can never exceed the lower of the following amounts: The rent the Lessee has paid to the Lessor for the Material on the individual construction site within the last 12 months before the claim arose or max. DKK 100,000.

Delay

11. If the Material is not delivered on time for whatever reason, the Lessor contacts the Lessee with a view to agreeing a new delivery time. If the Lessor has not delivered within a reasonable time, the Lessee can cancel the rental agreement. As a result, the Tenant cannot assert any liability for damages and/or other responsibilities and/or claims – directly or indirectly – against the Landlord.

Complaints and remedy

12. The material is delivered in faultless and usable condition. Possibly. complaints must be in writing and reach the Landlord no later than three working days after delivery and/or installation by the Landlord. Failure to do so forfeits the right to complain.

13. The lessor has the right and duty to remedy any errors and defects in the delivered and/or installed material. The lessor chooses the remedy. The Lessor has no further responsibility for errors or defects, and the Lessee cannot, as a result, assert any liability and/or other liability and/or claim - directly or indirectly - against the Lessor.

Payment

14. The lessor invoices rent for the Equipment monthly in advance. The rent is calculated per calendar day. Payment net cash 14 days. In case of late payment, interest accrues at 2% per month started and reminder fees.

When the Lessor installs / dismantles the Equipment

15. When the Lessor installs or dismantles the Equipment, this is done according to the Lessee's detailed instructions. The tenant must obtain their own engineer's written approval for installation at a height of more than four metres. The tenant is responsible for the adequacy of the fixing base, that there are no hidden wires, pipes etc. Eq. are available as well as for closing fastening holes etc. in the fastening base after dismantling the Material. When dismantling, the Lessor can bring his fastening material, timber etc. of e-mail subscription with Altiflex accepted that we send out newsletters to the given e-mail address.

16. When the Lessor installs and/or dismantles, the work is assumed to be carried out in full man-days. A man's day includes up to either 20 m2 assembly or 35 m2 dismantling.

17. The Working Environment Act and associated orders are assumed to be complied with, which is why the Tenant must count on two or more fitters for certain tasks.

18. No price reduction is given if the Tenant dismantles the Equipment himself.

19. Loading and unloading of the Equipment is not included in the Lessor's prices. The tenant ensures that a working lift/elevator is made available free of charge

20. During the period at 7.00 – 15.00 Monday to Thursday and 7.00 – 12.00 Friday is the Landlord's price per fitter per hour DKK 389; other time period per hour DKK 778. Price for service van per DKK 75 per hour. Hourly wage work is always calculated with a minimum of four hours per hour. fitter. On Saturdays, Sundays and public holidays, a minimum of four hours per fitter.

General Provisions

21. The lessor may affix type designations, approvals, advertisements etc. to the Equipment. The tenant may not remove such.

22. The lessor has obtained a patent on the principles behind the Material and has all intellectual property rights to it. The Lessee/Lessee's employees may not further develop or change the Material.

23. 1.2% is added to the gross rent for the environment and 5.8% to cover the Landlord's insurance. The tenant pays for packing and unpacking in storage, for time spent driving, water and electricity on the site, crew sheds, for picking up the material, for disposal of waste, etc. If, upon delivery or collection, the Equipment cannot be cleaned by ordinary washing or wiped with a flat hand, costs associated with this will be added, cf. the Lessor's applicable price list. Rent is charged for cages/barrels and a deposit for pallets and pallet frames.

24. If the Tenant installs and/or dismantles the Equipment themselves, as well as in the case of the Lessor's hourly wage work, a separate payment is charged for packing and unpacking at the Lessor's warehouse. Timber, screws, angles, etc. billed according to consumption.

25. If cost increases beyond the Lessor's control justify it, the Lessor can raise its prices with one month's notice.

26. Delivery, delivery/collection, assembly and/or disassembly by the Lessor of the Equipment requires that the Lessee notifies the Lessor in writing of this at least five working days in advance.

27. If the removal and collection of the Equipment is delayed due to conditions for which the Lessee bears the risk, the Lessee must pay rent for the additional rental period and cover the Lessor's additional costs.

28. The tenant is aware that the material is not completely windproof or waterproof.

29. The Tenant may not remove the Material from the Tenant's construction site or dispose of the Material in any other way by e.g. lending or subletting. The Lessor has the right at any time to carry out an unannounced inspection of the Material.

30. The equipment may be owned by third parties, including leasing companies, which will be entitled to act on behalf of the Lessor in the agreement concluded between the Lessor and the Lessee. Such that the third party will have full ownership of the Material.

31. In the event of the Lessee's default, the Lessor may terminate the agreement with the Lessee with a notice of five working days and then, by immediate bailiff action and without prior judgment and without collateral, take down and take back the Equipment.

32. The Landlord has the right to use the Tenant as a reference.

33. The Tenant must indemnify the Landlord for any loss and/or claim that may arise from the Tenant's non-compliance with the agreement, including - but not limited to - the Landlord's loss of rent, loss of profit, transport costs, etc.

34. All prices are excl. VAT.

35. The lessor's offer is valid for 30 days from date and subject to letting to another party.

36. Possibly disputes that cannot be resolved amicably must be settled according to Danish law at the court in Glostrup.