Terms and Conditions

All contracts liaised by us including the agency agreement with us are exclusively governed by the “Rules and Conditions of the Waren-Verein der Hamburger Börse e.V.” (Conditions of Business, Arbitration Rules, Rules for Experts – www.waren-verein.de) with the exception of Section 5 of the Rules and Conditions of the Waren-Verein der Hamburger Börse e.V. which is replaced by the following “Liability Clause”:

Liability Clause

  1. We are liable for damage caused to the customer only in case of intent or gross negligence, unless this is due to breach of an essential contractual obligation, the fulfilment of which enables proper execution of the contract in the first place and on the fulfilment of which the customer can regularly rely (“cardinal obligation”). In case of slight negligence our liability is limited to the typical damage that was foreseeable upon conclusion of the contract. In particular, we are not liable in this case for lost profits of the customer and foreseeable indirect consequential damage. The foregoing provisions also apply in case of negligence of our legal representatives and “Erfüllungsgehilfen” (persons employing in performing a contractual obligation for whom the principal is vicariously liable).
  2. The above limitations of liability do not apply to the extent that we are compulsorily liable under statutory provisions, such as Sections 1 and 4 of the German Product Liability Act (ProdHaftG), if injury has been caused to life, limb or health.
  3. If liability is excluded or limited, this also applies for the benefit of our legal representatives and “Erfüllungsgehilfen” in the event of the customer making a direct claim.