1. Usage

These terms and conditions shall be effective for all deliveries by Crown Seafood A/S unless otherwise agreed in writing between the parties. Such an agreement shall supersede these terms and conditions on points that may be inconsistent therewith.

In the following, Crown Seafood A/S is designated as Crown Seafood A/S and the other party as the Buyer.

2. Catalogues, brochures, free assistance, etc.

Free assistance in the form of advice and guidance from Crown Seafood A/S on product handling, including descriptions in materials about the products, is solely a service to the Buyer, for which Crown Seafood A/S assumes no responsibility.

Crown Seafood A/S assumes no responsibility for any erroneous information in supplied written material concerning products that may be prepared by Crown Seafood A/S's suppliers.

3. Agreement

All sales are subject to written confirmation, which, if Crown Seafood A/S so wishes, the Buyer should confirm by signature.

Reservations or derogations of what is stated in the order confirmation or these general terms and conditions shall be regarded as inconsistent acceptance, with the effect that Crown Seafood A/S is not bound by an offer or what is stated in the order confirmation.

If an order confirmation is not signed by the Buyer, any objection must be made in writing to Crown Seafood A/S within 5 working days after receiving it. Otherwise, the order confirmation will be considered as the contractual basis even though it is not signed.

Submission and reply to the order confirmation can be made electronically.

4. Delivery sample

If the parties have agreed that before placing the order the Buyer shall receive a delivery sample, and that any agreement to buy should then be based on such a delivery sample, the product delivered shall correspond to the delivery sample.

If the Buyer demonstrates that this is not the case, Crown Seafood A/S is entitled to make a redelivery, without otherwise incurring liability, and the Buyer is not entitled to cancel the purchase.

Redelivery must be made without delay.

5. Delivery/Payment terms

The purchase price including all costs and expenses is payable in cash on delivery to the Buyer. If no price is agreed in the written order confirmation, the sale is made at the price prevailing on the day of delivery. This entails that with future tax increases and price changes from Crown Seafood A/S's suppliers of more than 2%, Crown Seafood A/S is entitled to increase the price accordingly.

Any discount is not calculated on VAT and other taxes and delivery costs. In case of delayed payment, interest of 1.5% per started month is payable.

Non-payment by a fixed payment day shall entitle Crown Seafood A/S to terminate the agreement, in which case the Buyer is responsible for the losses Crown Seafood A/S may suffer hereby, including those in connection with any resale.

6. Exchange rate reservation

When invoicing to the Buyer, Crown Seafood A/S is entitled to adjust the proportion of the product price and transportation costs that Crown Seafood A/S is to pay in foreign currency up or down according to the exchange rate on the day that Crown Seafood A/S settles the foreign currency to secure its purchase. Crown Seafood A/S is entitled to make a corresponding adjustment in cases where the price is based on a specified correspondence to another currency. Crown Seafood A/S shall state in the order confirmation if an exchange rate reservation has been arranged.

7. Retention of ownership

The ownership of the goods remains with Crown Seafood A/S, or the party to whom Crown Seafood A/S has transferred its rights, until the purchase price with interest, costs, etc. has been paid in full, and any other services that Crown Seafood A/S has outstanding under other agreements and deliveries to the Buyer have been paid. The Buyer is obliged to keep the goods insured against theft, burglary, fire, etc., as necessary.

8. Delivery

Delivery is ex works, in accordance with Incoterms 2000 and later versions thereof, unless otherwise agreed in the order confirmation or invoice. The risk for the goods passes to the Buyer when Crown Seafood A/S makes the product available to the Buyer in good time at the delivery site.

In case the Buyer fails to accept the goods in good time, Crown Seafood A/S can choose to terminate or maintain the agreement. If the agreement is terminated, Crown Seafood A/S can dispose of the goods by sale to another party at the Buyer's risk and expense.

No matter whether Crown Seafood A/S terminates or maintains the agreement, the purchaser is liable for the losses Crown Seafood A/S may suffer hereby, including the costs of storage and insurance. Crown Seafood A/S can destroy the goods if Crown Seafood A/S deems it necessary.

9. Delivery time, delays

The delivery times stated by Crown Seafood A/S are only approximate until the final delivery time is confirmed by Crown Seafood A/S. If the delay is due to some circumstances which, according to the following clause, constitute a justification defence or are caused by the Buyer, the delivery time is extended to the extent deemed reasonable given the circumstances.

Crown Seafood A/S has no liability for indirect losses that may be caused by any delay, including loss of profits, loss of earnings and other consequential economic losses, including direct consequential economic losses. Crown Seafood A/S's liability for any other losses can never exceed an amount equal to the price of goods for the delivery in question.

If the goods are custom-made products, that is, products that are not present in Crown Seafood A/S's standard product range, including those in non-standard packaging, the Buyer cannot cancel the transaction due to delay, regardless of materiality. The Buyer can in all cases only cancel the transaction if this can be done without losses for Crown Seafood A/S.

10. Responsibility for deficiencies and complaints

Immediately upon receipt of the goods and before they are taken into use, the Buyer must inspect them to make sure that the goods are free of deficiencies, so that the product has not damaged in the packaging, the agreed quantities have been delivered, etc.

Complaints about deficiencies must be made in writing to Crown Seafood A/S within 48 hours after delivery. Complaints may be made electronically.

If the Buyer does not meet this deadline, the right to make a claim for remedies is void. The Buyer must ensure proof of the deficiencies.

If there is a deficiency, this will be remedied after Crown Seafood A/S's choice by Crown Seafood A/S either making a replacement delivery or reducing the price of the product, equal to the price of the deficient part. If rectification of a deficiency is carried out within 14 days after the deficiency is acknowledged, the Buyer is unable to rely on other remedies, including terminating the contract, demanding a reduction in price, or demanding compensation.

Fluctuations in volume and units of no more than 10% with respect to the agreement are within the delivery amount that the Buyer must accept.

Crown Seafood A/S has no liability for indirect losses caused by any deficiency, including operating losses, loss of earnings and other consequential economic losses, including direct financial consequential losses. The Buyer's labour costs and expenses associated with replacement of the goods subject to complaint are not covered.

Crown Seafood A/S's liability for any other loss may otherwise never exceed an amount equal to the price of the goods for the delivery in question.

11. Warranty

Crown Seafood A/S guarantees that specifications, instructions and guidelines of any kind contained in the product, including information and properties stated in catalogues, brochures, etc., if these are expressly stated in the order confirmation, will be present.

12. Product liability

Crown Seafood A/S assumes no responsibility for damage to persons or property, in addition to those that follow from mandatory rules that Crown Seafood A/S is subject to in Denmark, and then only to the extent provided by such laws. Crown Seafood A/S is not liable for any indirect damages, consequential damages, operating losses and loss of profits, or the like. Crown Seafood A/S shall not be responsible if the product is handled or used in violation of the product descriptions and product requirements or handled in an unforeseeable manner.

To the extent that Crown Seafood A/S is held liable in connection with the use, including resale, that the Buyer may impose on Crown Seafood A/S, the Buyer is obliged to indemnify Crown Seafood A/S for the liabilities that this thereby incurs.

The liability period is a maximum of 1 year. Crown Seafood A/S's liability for product damage shall never exceed the liability sum in Crown Seafood A/S's product liability insurance.

The Buyer is liable to be sued at the same court that hears compensation claims against Crown Seafood A/S with respect to the goods sold. The relationship between Crown Seafood A/S and the Buyer shall always be decided according to the following provision on jurisdiction and applicable law if agreement between the parties cannot be achieved.

13. Exemption from liability

Crown Seafood A/S cannot be held responsible for any losses due to circumstances over which Crown Seafood A/S has no control and whose onset Crown Seafood A/S could not or should not have taken into account at the conclusion of the agreement, including - but not limited to - breakdown of IT connections, labour conflicts, and subcontractor delays or the bankruptcy or receivership of the same. The same applies to any circumstance beyond the parties' control, such as fire, war, mobilization, confiscation, currency restrictions, riots, restrictions on power, as well as lack of transportation and general goods shortages, strike or other work stoppage (force majeure).

14. Governing Law and Jurisdiction

Any dispute between the parties shall be governed by Danish law in Denmark.

Disputes arising from the agreement or these terms and conditions can be subject to judicial decision after Crown Seafood A/S's choice. Otherwise, the dispute shall be finally settled by arbitration in accordance with the Danish legal rules on arbitration. Arbitration shall take place in Esbjerg, which also has jurisdiction in the event of a court decision.

22 May, 2013

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