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CHRONEXT Terms and Conditions

(Version 14-10-2016)

§ 1 - Subject matter and description of services

1.1 These Terms and Conditions apply to the free use of our online shop (hereinafter referred to as "Online Shop") and to all agreements concluded with you as our customer (hereinafter referred to as "Customer" or "Purchaser") via our Online Shop. The Terms and Conditions apply to entrepreneurs as defined in Section 14 of the German Civil Code (BGB) ("Entrepreneur") as well as to consumers as defined in Section 13 BGB ("Consumer"). These Terms and Conditions do not apply to purchase contracts concluded on-site at a retail store of CHRONEXT.

1.2 If Customer is ordinarily resident in the EU or European Economic Area (according to the invoice address), the contract is concluded between the Customer and

CHRONEXT Service Germany GmbH
Lichtstraße 25
50825 Cologne
Germany
Telephone no.: +49 221 975 806 04
E-Mail info@chronext.com

If Customer is ordinarily resident outside the European Union and European Economic Area, the contract is concluded with

CHRONEXT AG
Feldpark 9
6300 Zug
Switzerland
Telephone no.: +41 41 588 06 84
E-Mail info@chronext.com

The relevant company is hereinafter referred to as "CHRONEXT".

1.3 Purchase of products directly from CHRONEXT

Customer may purchase different brands of watches directly from CHRONEXT in our Online Shop ("Purchase").

1.4 Immediate sale and arrangement of a product purchase by CHRONEXT

It is also possible for Customer as Consumer to sell watches via our Online Shop. The special provisions regarding "commission business for Consumers as defined in Section 13 BGB as vendors" ("Commission Provisions"), which can be viewed here, shall apply in addition. In the event of any conflict between these Terms and Conditions and the Commission Provisions, the regulations set out in the Commission Provisions shall prevail.

1.5 The Customer may use additional services provided by CHRONEXT. Insofar as these are not explicitly mentioned in these Terms and Conditions, the additional services shall be subject to separate business terms and conditions.

§ 2 - Contract conclusion

2.1 The placement of the product in the Online Shop does not constitute a binding offer by CHRONEXT to Customer to enter into a contract.

2.2 To order products in the Online Shop of CHRONEXT, Customer can add the selected goods to the shopping cart and then enter the order information in the specified order form. After selecting the shipping and payment methods and accepting these Terms and Conditions, Customers sends its binding offer by clicking on the purchase button "BUY".

2.2.1 The offer is accepted by CHRONEXT by sending an express notification of acceptance to Customer by e-mail at the latest by the end of the third working day following the day of the offer, or by sending the goods. CHRONEXT shall be entitled to reject contractual offers at its sole discretion.

2.2.2 CHRONEXT also reserves the right to cancel the contract if the goods are not available from a carefully selected and reliable supplier through no fault of CHRONEXT (proviso of punctual delivery of our suppliers). In such a case, CHRONEXT undertakes to immediately inform Customer of the non-availability of the goods and, where necessary, immediately refund any payments made.

2.2.3 Customer has the option of concluding the contract in German, English or Russian language

2.2.4 CHRONEXT saves the contractual text of the order and Customer is able to print the contractual text before sending the order to us by clicking on "print" in the last order step. We will also provide Customer with an order acknowledgement and order confirmation to the e-mail address provided by Customer.

2.3 If, during the order process, Customer completes the purchase selecting the payment options "instalment", "direct debit" or "purchase on account", the purchase contract is concluded between Customer and fine trade gmbh. The Terms and Conditions are linked here. In this case fine trade gmbh is the seller of the goods and the purchase price is payable solely to fine trade gmbh. The Terms and Conditions of fine trade gmbh shall apply exclusively.

2.4 Customer additionally has the option of requesting to view watches at CHRONEXT's premises or at a retail store of CHRONEXT on a non-binding basis. If Customer chooses this option, no binding purchase contract for the watch in question is concluded between CHRONEXT and the Customer. CHRONEXT will make every effort to procure the watch for viewing, but shall not be obliged to do so. In individual cases CHRONEXT shall reserve the right to request a deposit from Customer before obtaining the watch. Customer may also pay a voluntary deposit of any amount on request of an on-site viewing (e.g. by payment methods which are not available on-site). The deposit does not commit Customer to purchase, nor CHRONEXT to sell. Upon request CHRONEXT will refund the deposit to Customer without interest within 5 working days (date of the payment instruction issued by CHRONEXT is decisive).

§ 3 - Prices and payment methods

3.1 CHRONEXT offers Customer various payment methods, which can be viewed at the following address: Chronext payment methods.

3.2 The published prices at the time of ordering shall apply. All prices are, depending on the currency chosen, stated in EUR, CHF, GBP or USD and include value-added tax. Shipment costs are not included in these prices and will be displayed separately in the order process.

3.3 For purchase contracts concluded between CHRONEXT and Customer, the total amount payable including shipping costs is due immediately.

3.4 If the amount due cannot be collected, Customer shall reimburse to CHRONEXT the additional costs incurred as a result, if it is responsible for the failure to collect.

§ 4 - Shipping and delivery

4.1 The products sold by CHRONEXT are shipped by shipping providers listed under Chronext shipping costs.

4.2 Customer bears the shipping costs. The amount of the shipping costs is calculated on the basis of the shipping cost overview, which can be viewed under Chronext shipping costs. The binding shipping costs are also displayed in the order overview prior to submitting the order.

4.3 Goods purchased from CHRONEXT are only despatched by the shipping partners listed under Chronext shipping costs and are covered by transport insurance.

4.4 Shipments are made to the following countries: Australia, Austria, Bahrain, Belgium, Bulgaria, Canada, China, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hong Kong, Hungary, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, New Zealand, Norway, Oman, Poland, Portugal, Qatar, Romania, Russia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan, Turkey, USA.

4.5 The expected delivery date is indicated to Customer in the respective product description and counts from receipt of payment. The delivery time may be subject to the usual variability of postal deliveries and may be delayed by force majeure and other events outside the control of CHRONEXT and its agents.

§ 5 - Guarantee and CHRONEXT partial inspection

5.1 CHRONEXT shall provide its Customers with an extended warranty ("CHRONEXT Guarantee") under certain conditions. The CHRONEXT Guarantee shall apply from the purchase date for a period of 24 months and refers solely to clockworks. During the first 12 months, the terms of the statutory warranty shall apply exclusively. From the 13th month on, CHRONEXT also guarantees to Buyer the following services for all watches in the case of a justified complaint:

a) Repair of the watch by an expert. The hours worked by the watchmaker are borne by CHRONEXT under the Guarantee. Replacement parts that have to be procured for the repair work are invoiced to Customer.

b) The Customer is informed in writing of the replacement part costs prior to procurement and such costs shall be confirmed by Customer prior to procurement.

Transportation costs for the watch under the CHRONEXT Guarantee shall be borne by Customer. Any claim under the CHRONEXT Guarantee must be communicated by Customer in writing by e-mail or mail. The defect in question must be described by Customer in this written communication to CHRONEXT. CHRONEXT shall then collect the watch from Customer. If the conditions for a claim under the CHRONEXT Guarantee are not met,Customer shall be notified of this stating the reasons. Warranty rights under Section 7 remain unaffected.

5.2 Exclusions:

a) Removal of damage deliberately caused by Customer.

b) Removal of water damage is generally excluded from the CHRONEXT Guarantee.

c) CHRONEXT shall only carry out repairs that can be fixed by CHRONEXT's own watchmaker. These are in particular the maintenance or repair of defective parts, the regulation and adjustment of the watch and individual parts. Repairs carried out by the manufacturer are generally excluded from the Guarantee.

d) There is no obligation for performance under the Guarantee, if the replacement part cannot be demonstrably obtained outside the responsibility of CHRONEXT or the manufacturer does not deliver the replacement part.

e) Watch straps, glass, crowns and all parts subject to wear and tear as well as any damage not caused by natural or normal wear and tear shall be excluded from the Guarantee.

Costs for any material and replacement parts needed shall be borne by Customer. Customer shall be notified of the estimated material and replacement part costs before the repairs are carried out and Customer can decide whether the repairs are to be carried out.

5.3 Furthermore, CHRONEXT shall not be required to provide any services under the Guarantee, if the provision of such services is not possible.

5.4 CHRONEXT guarantees to provide its Customers with a so-called one-off partial inspection for a period of 2 years from the purchase date. This shall include the following services:

a) Simple polishing of the watch case by a specialist

b) Water resistance test performed by a watchmaker in accordance with DIN

c) Adjustment and status check of the watch by a watchmaker

The execution of these services is documented for Customer in a status report. The water resistance documented in the status report only means that the watch is water resistant at the time of the check. A guarantee or liability for water resistance of a particular duration is not given nor assumed. In this respect, CHRONEXT shall not assume any liability for the water resistant quality documented in the status report.

5.5 The Customer must register for the free partial inspection with CHRONEXT. This must be done in writing by fax or e-mail giving the invoice number and watch details.

5.6 The deadline for registering for the parts inspection shall begin on the purchase date and expire at the latest two years after the purchase date. CHRONEXT shall bear the costs for this service. The partial inspection can only be carried out once for each watch in the specified period.

5.7 CHRONEXT shall have the watch picked up from Customer and returned to Customer after the service. It is transported as insured valuables. The associated costs shall be borne by Customer. The transport costs are based on the table shown on the page Chronext shipping costs. Transport costs include transport insurance. Customer may at its own request and risk choose another shipping method for transporting the watch to CHRONEXT.

5.8 CHRONEXT shall not assume any liability outside the statutory warranty for defects identified in the partial inspection. The Guarantee given for the partial inspection shall only apply to the free of charge provision of the services defined in 5.1.

5.9 The Guarantee issued by CHRONEXT for the execution of a partial inspection shall only apply to the person who purchased the watch at CHRONEXT. It may not be transferred to other persons. The Guarantee shall expire on a resale by the purchaser.

5.10 The Customer has to provide proof that the goods delivered are actually the goods acquired at CHRONEXT. Goods sent in error will be returned immediately.

§ 6 - Customer's obligations

6.1 Customer shall not be permitted to unreasonably overload the technical infrastructure of CHRONEXT.

6.2 Customer may not block, overwrite or modify any contents generated by CHRONEXT or disrupt the CHRONEXT website in any other way.

6.3 The contents stored on the CHRONEXT website may not be copied or disseminated or otherwise used or reproduced without the previous consent of the legal owner. This shall also apply to copying using "robot/crawler" search engine technologies or other automatic mechanisms.

6.4 CHRONEXT shall be entitled to block customer accounts, if it is suspected that a customer account is being used in a fraudulent manner or misused in other ways. CHRONEXT will notify Customer of the blocking, if the purpose of the blocking is not jeopardised by the notification.

§ 7 - Our liability

7.1 CCHRONEXT strives to always ensure that the website is available to users without interruption and that transmissions are error-free. However, this cannot be guaranteed at all times. Further, access to the CHRONEXT website can be occasionally interrupted or restricted to allow maintenance and servicing to be carried out or to introduce new facilities. CHRONEXT strives to limit the duration and frequency of these temporary interruptions.

7.2 CHRONEXT bears unlimited liability in cases of intent and gross negligence as well as in cases of injury to life, body or health.

7.3 In cases of slight negligence, CHRONEXT shall be liable in the event that material contractual obligation is infringed. A material contractual obligation within the meaning of this section is an obligation, the performance of which only allows the contract to be executed and upon the performance of which the contractual partner may therefore regularly rely.

7.4 CHRONEXT shall not be liable under Section 7.3 for lack of economic success, loss of profits and indirect losses.

7.5 Liability under the above Section 7.3 shall be limited to losses typical and foreseeable as at the date of the conclusion of the contract.

7.6 The limitations of liability shall apply mutatis mutandis to employees, representatives and subcontractors of CHRONEXT.

7.7 Any liability of CHRONEXT for guarantees given and claims under the Product Liability Act shall remain unaffected.

§ 8 - Warranty

8.1 The statutory warranty rights shall apply to all contracts concluded between CHRONEXT and the Customer.

8.2 Liability for defects in used goods shall be excluded for Purchasers who are Entrepreneurs; this shall not apply in case of gross negligence or intent; warranty rights for new goods shall lapse within six months following the transfer of risk.

8.3 Warranty rights shall lapse for Consumers within two years following the transfer of risk for new goods and within one year for used goods.

8.4 Ordinary wear and tear marks (e.g. scratches on the case/band) do not constitute defects under sales law.

8.5 Damage caused by the improper handling of the goods by Purchaser shall be excluded from the liability for defects.

§ 9 - Right of withdrawal for Consumers

9.1 Information concerning the exercise of the right of withdrawal

If you are a Consumer and a contract as defined in Section 9.3 is not in effect, you have the right to withdraw in accordance with the following policy:

You have the right to withdraw from this contract within 14 days without giving any reason. The withdrawal period will expire after 14 days from the day on which you or a third party you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the goods. In the case of a contract relating to multiple goods ordered by you in one order and delivered separately, the period shall begin on the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the last good. To exercise the right of withdrawal you must inform us (CHRONEXT Service Germany GmbH, Lichtstraße 25, 50825 Cologne, Germany, telephone no. +49 221 975 806 04, e-mail info@chronext.com) of your decision to withdraw this contract by an unequivocal statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model withdrawal form, but it is not obligatory.

To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.

Effects of withdrawal

If you withdraw from this contract, we shall reimburse to you all payments received from you, including the costs of delivery (with the exception of the supplementary costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and in any event not later than 14 days from the day on which we are informed about your decision to withdraw from this contract. We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement. We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is the earliest. You shall send back the goods or hand them over to us without undue delay and in any event not later than 14 days from the day on which you communicate your withdrawal from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired. You will have to bear the direct cost of returning the goods.You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.

End of information on right of withdrawal

9.2 Model withdrawal form

(complete and return this form only if you wish to withdraw from the contract)

9.3 The right of withdrawal does not apply to distance contracts for the delivery of goods that are not manufactured in advance and the manufacturing of which requires an individual choice or design by Consumer or that are clearly tailored to the personal requirements of Consumer.

§ 10 - Reservation of title

10.1 The goods shall remain the property of CHRONEXT until the purchase price is paid in full. The goods may not be pledged, transferred by way of security, processed or reconfigured without the consent of CHRONEXT.

10.2 Purchaser shall undertake to handle the goods with care until the purchase price is paid in full.

§ 11 - Complaints procedure

The EU Commission provides an online platform for online settlements (OS platform). It can be accessed at http://ec.europa.eu/consumers/odr/.

§ 12 - Final provisions

12.1 Deviating business terms and conditions of Customer shall not form part of the contract even if CHRONEXT does not expressly dispute their validity.

12.2 Customer may only offset against claims of CHRONEXT or assert a right of retention if its counterclaim is undisputed, a legal title exists or the counterclaim is synallagmatically in proportion to the respective claim in question.

12.3 The law of the Federal Republic of Germany applies under the exclusion of the UN Convention on Contracts for the International Sale of Goods. This does not apply for Consumers with regard to such mandatory consumer rights, which – according to the law applicable if this clause would not exists (which is in general the law of Consumer’s primary residence) – are legally compulsory and cannot be waived by parties‘ agreement.

12.4 Exclusive venue for any and all disputes with regard to this contract is Cologne, provided the parties of the contract are merchants or Customer has no place of general jurisdiction in Germany or in another member state of the European Union or its permanent or habitual residence is transferred abroad after entry into force of these Terms and Conditions or permanent or habitual residence is not known at the time the action is filed.

12.5 If individual provisions of this Terms and Conditions are or become ineffective and/or contradict legal provisions, the effectiveness of the remaining Terms and Conditions shall not be affected thereby.