These terms and conditions apply to and form part of any contract for the supply of Goods and/or Services by the Company to the Customer. These terms shall apply to the exclusion of any other terms (including on any Purchase Order) or any documentation, including electronic documentation and shall replace any previous terms notwithstanding the signing of any such document by a representative of the Company.

For the purposes of these terms and conditions:

Agreement means the contract between the Parties for the supply of Goods and/or Services by The Company to The Customer which incorporates these terms, including:

(a) A quotation, proposal or invoice provided by the Company that is expressed to incorporate these terms and which is accepted by the Customer; and

(b) A written document which includes these terms as a user Schedule or Annexure. 

Company is defined in item (i) below. 

Company Group means The Company, its parent, subsidiary and affiliated or related companies and all of their respective officers, directors, employees, and agents. 

Core had the meaning as universally recognised within the mining industry. 

Customer means the company noted in the applicable Purchase Order or the relevant agreement or document.

Equipment means items of equipment or machinery manufactured by the Company or a supplier to the Company.

Ex-Works means the universally recognised Incoterms definition.

Force Majeure Event means any circumstances or events beyond the reasonable control of a Party and includes, but is not limited to, any lack of production capacity, or raw materials, acts of God, strikes, laws and regulation, labour disputes, inclement weather, epidemic or pandemic and any other causes that are not within the reasonable control of the Party.

GIC means General Interest Charge as published by the Australian Taxation Office. 

Goods or Products means all goods supplied or to be supplied by the Company to the Customer pursuant to this Agreement.

GST means tax payable on the supply of goods or services.

GST Law has the meaning given to the term in the A New Tax System (Goods and Services Tax) Act 1999 (Cth) and includes any other statute or regulation of any jurisdiction relating to the imposition or administration of GST.

Party means the Company or the Customer as the case may be and Parties mean both.

PPS Act means Personal Property Securities Act 2009 (Cth).

Purchase Order means any purchase order issued by the Customer requesting the supply of Goods and/or Services and accepted by the Company and shall be governed by the terms of this Agreement. This governance applies irrespective of any terms contained in a purchase order and/or the signing or acceptance of such purchase order by the Company.

Rebuild means to disassemble, inspect and repair (per specification provided) to working order and has the same meaning as Overhaul

Repair and Return means the repair and return of a customer owned component.

Services means services provided by the Company to the Customer.

Service Exchange (SX) means Services whereby a Core (or other component) Rebuilt by the Company is provided to the Customer (First Core). In exchange, the Customer provides a Core (or component) (Second Core) and agrees to pay the Company the price required to Rebuild the Second Core (or component) to the same condition as the service exchange Core (or component) that was supplied. Upon completion of the Rebuild and the payment by the Customer to the Company for the Rebuild and SX Core Fee (if any), title of the First Core (or component) will pass from the Company to the Customer and title of the Second Core (or component) will pass from the Customer to the Company.

SX Core Charge is the non-refundable fee charged in addition to the Rebuild charge, this fee is charged for access/use of a Core in advance (and in exchange for) the Core which will be Rebuilt on the Customer’s account.

Specialised Warranty means the Company’s specialised warranty, specific to the Goods or Services provided and the subject of the relevant quotation, proposal, contractual agreement, or Purchase Order. This may be supplied separately and/or is available upon request from the Company. The Company’s specialised warranty shall apply to the provision of the Goods and/or Services to the exclusion, and irrespective of, any further warranty terms which may be supplied by the Customer.

(i) The Company enters this Agreement, in its own right or jointly and severally as:

(a) Valenhold Pty Ltd. (ABN 80 605 539 115)

(b) Valenhold Holding Co Pty Ltd. (ABN 22 656 557 121)

(c) Valenhold Administration Pty Ltd. (ABN 28 657 216 914)

(d) Valenhold Asset Management Pty Ltd. (ABN 46 657 216 174)

(ii) The above companies shall be entitled to the rights and subject to the obligations and liabilities created by this Agreement. Similarly, the benefit of any indemnity or waiver given or assumed by the Company under this Agreement extends to the above companies.

(iii) Purchase Orders and related invoices issued under or referencing these terms and conditions, may be issued by or to the Company or the above companies, as appropriate.

1. WARRANTY

1.1 The Company warrants to the Customer that the Goods and Services will conform to the relevant specifications in the Specialised Warranty. Subject to Clause 1.14, in the event the Goods and/or Services do not conform to the foregoing standards, then the Customer’s sole remedy for such non-conformance is detailed in the Specialised Warranty, which shall always govern any warranty provision contained herein. Notwithstanding the foregoing where there is no Specialised Warranty, the warranty is as follows:

(a) Goods

For six (6) months from the date of delivery, the Company shall, at the Company’s option, repair or replace the nonconforming Goods, and the Customer shall pay the return and re-delivery freight and bear all risks of return to the Company.

(b) Repairs, Services and Service Exchange

Where the Company performs Repairs, Services or Service Exchange work, for six (6) months from the date of completion of the performance of the Services or Service Exchange, the Company shall rectify or replace any defective Repairs, Services or Service Exchange units. In the event of replacement, the Customer shall at their cost, return the defective unit to the Company within 7 days of receiving the replacement unit.

Where the Company identifies and recommends the replacement of specific parts during the inspection or Rebuild, to ensure the performance and integrity of the unit, the following terms shall apply:

(i) Acceptance of recommendations.

If the Customer agrees to replace the recommended parts, the Company’s Specialised Warranty terms will apply to the entirety of the rebuilt unit.

(ii) Declining recommendations.

If the Customer elects not to replace the recommended parts, the warranty will not cover the premature failure of the identified and non-replaced parts. Furthermore, warranty claims for other potential failures will require a detailed assessment to determine eligibility, ensuring that failures unrelated to the non-replaced parts are evaluated in accordance with standard warranty procedures.

1.2 Repairs performed under warranty do not extend the warranty period beyond the original date of delivery of the Goods and/or the original date of completion of the Services.

1.3 The Company may at its discretion elect to pay for the repair or replacement of the failed component in lieu of performing repair or replacement.

1.4 Where the Company, acting reasonably, determines it is impractical to complete any warranty repair or re-performance work at the Company’s site, such work may be performed at the Customer’s site and all reasonable travel and accommodation costs and other onsite specific costs (including but not limited to all lifting and access costs) must be paid by the Customer or reimbursed to the Company pursuant to invoices issued by the Company under Clause 10.

1.5 The warranties contained in this Clause 1 do not apply to any defects in, or otherwise non-conforming, Goods or Services where the defects, or the non-conformance results are from (a) abnormal environmental conditions, (b) operation outside of manufacturer’s specification, (c) lack of adherence to the maintenance and/or storage of Goods in accordance with the manufacturer’s specification, (d) improper or unauthorised use, application, alteration, repair, storage, maintenance and/or damage caused by foreign influences; or (e) fair wear and tear. Any warranty claim will be subject to the Company’s Specialised Warranty.

1.6 The user will ensure all the Company’s fitment criteria are fulfilled, and documentation is completed and returned to the Company within 14 days of that component being installed. After 14 days, the Company reserves the right to void any warranty.

1.7 To the extent the Company is unable by law to exclude its liability, the Company’s obligations under the Agreement shall be limited at the Company’s option, to making good by repayment or replacement of any Goods in which defects appear or in the case of Services, re-performing the Services or the cost of providing the Services again.

The cost of removal, transportation and/or installation of a failed component is excluded from this warranty unless agreed to by the Company.

1.8 Any parts returned to the Company as part of a warranty claim must be freighted at the Customer’s expense (unless otherwise agreed in writing) and packaged securely and appropriately to maintain the product’s quality and integrity during transport. The Company reserves the right to reject and warranty claim where inadequate packaging or handling has caused or contributed to damage or degradation of the component.

In cases of warranty claims and following consultation with a Company representative, the Customer may be instructed to issue a new Purchase Order for that component at the full purchase price which states “Subject to Warranty Claim” for further work to proceed.

1.9 Any warranty claim must be notified in writing by the Customer to the Company:

– within the warranty period as provided in Clause 1.1; and

– within 48 hours of becoming aware of the failure or defect.

Failure to comply with this Clause 1.9 may result in the rejection of the warranty claim, in the Company’s sole discretion.

1.10 Where a warranty claim is made, the Customer must provide the Company reasonable and prompt access to the failed part(s) and, where applicable, to the equipment in which the part was installed for the purpose of inspection, diagnosis and disassembly, where requested by the Company. Any attempt to disassemble or repair the part without the Company’s written consent may void the warranty.

1.11 Where applicable, oil samples must be carried out as per manufacturers’ specifications and as/if requested by the Company. If abnormal samples are detected and not acted on, the Company reserves the right to void warranty.

1.12 Truck performance oil sampling and other relevant operational data must be made available to the Company as part of the warranty assessment process. The operational data includes, but is not limited to:

• • Oil samples
  • Haulage loads
  • Vehicle speeds
  • Servicing records; and
  • Details of any unscheduled maintenance.

The data must be provided in its original unaltered format as recorded by the vehicle’s onboard monitoring system or telematics system. Failure to provide the required data logs and records with the warranty claim submission may result in the denial of the claim.

1.13 All parts subject to a potential warranty claim must be retained by the Customer until the warranty process is formally closed out or the Company provides written notice authorising disposal. These parts must be stored in clean, dry and secure conditions that prevent further damage or contamination. The Customer agrees to make such parts available for inspection upon request by the Company or its authorised representatives.

1.14 Except as otherwise expressly provided pursuant to this Clause 1, the Company makes no warranty or guarantee, express or implied, including no warranty of merchantability or fitness for a particular purpose, regarding any Services performed or Goods supplied under the Agreement.

1.15 Any payments made by the Company to satisfy a warranty claim will be issued as a credit against the Customer’s account.

1.16 The Company, in its sole discretion, may reject a warranty claim where:

– the Customer has amounts owed to the Company outside of agreed trading terms; and/or

– the Customer has not paid for the Goods or Services, the subject of the warranty claim, within trading terms.

2. DELIVERY

2.1 The Company supplies Goods under the Agreement on an Ex Works basis unless otherwise specified in writing in the Agreement. The Company shall make every effort to deliver the Goods by the agreed delivery date and complete the Service as scheduled and agreed by the Parties.

2.2 The Customer may request that the Company arrange freight and delivery of the Goods and the Company may charge a fee for such deliveries. In such event, the Company shall be responsible for loading the Goods onto the delivery vehicle, at which time delivery will be deemed to have been affected. In all other cases, where the Customer arranges freight, delivery shall be when the Goods are loaded on the delivery vehicle Ex Works.

2.3 If the Company notifies the Customer that the Goods are ready for delivery and the Customer requests the Company to hold Goods on its behalf or refuses to accept delivery, such Goods will be held by the Company at the Customer’s risk and the Company shall be entitled to charge a reasonable storage fee in respect of the Goods. In the event Goods are held in excess of Fourteen (14) days from the date the Company notifies the Customer, the Company shall invoice the Customer and payment will be due in accordance with Clause 10 below.

2.4 The Customer will examine the Goods immediately upon delivery and will within seven (7) days from the date of delivery, give written notice to the Company of any non-conformance with the Agreement, failing which the Customer will be deemed to have accepted the Goods unconditionally.

3. REPAIR AND RETURN

3.1 All work completed by the Company to strip and assess components provided by the Customer (necessary in order to quote for repairs) will be at the cost to the Customer. The cost for the strip and assessment will not be invoiced separately provided the Customer accepts the relevant quote within one (1) month of the date of the quote.

3.2 If the Customer does not accept the Repair and Return quote withing one (1) month:

(a) An invoice will be issued to the Customer for the necessary work to strip and assess the components in accordance with Clause 10 below; and either:

(i) The Customer irrevocably offers to sell the component, or any parts disassembled to the Company at the usual price paid by the Company for that component or those parts. The Company can accept the offer by notice to the Customer of the parts which the Company wishes to purchase and the price for those parts. The price will be first credited to any outstanding invoices due by the Customer, and the balance, if any, paid to the Customer; or

(ii) The Company, at the Company’s option, shall assume ownership of the component, without cost or penalty to the Company, provided at least thirty (30) days written notice is provided to the Customer.

4. SERVICE EXCHANGE

4.1 Service Exchange Cores (or other components provided under a Service Exchange arrangement) are supplied by the Company on the express conditions that the reciprocal Core (or component) will be removed by the Customer and delivered to the Company premises (at the Customers risk and expense), as agreed within fourteen (14) days. If the Core (or other component) is not provided within fourteen (14) days, the Company may issue an invoice for the total replacement value of the Service Exchange Core (or other component). Upon issue of the invoice, the Company has no obligation to accept the reciprocal Core (or other component).

4.2 The Company and the Customer acknowledge that the exact cost for a Service Exchange process cannot be quoted prior to the assessment of the Customer’s Core (or other component) being carried out and that the Company’s cost for such work will be fair and reasonable. The Company will charge an initial standard Rebuild and SX Core Charge (or SX Component Charge) when the SX Core (or component) is supplied to the Customer.

Variation charges will be subsequently issued once the final Rebuild price of the reciprocal Core (or component) is determined.

4.3 Any returned goods which are either missing components, have non-conforming components or damaged to the point where they are beyond the point of economical repair, the Customer will be charged the full price for a replacement Core (or other component).

4.4 Goods will be Rebuilt to an as new condition as per the Company’s rebuild and reuse criteria. The Customer will be charged for any variation parts, rework labour and testing required to achieve this standard.

4.5 The Company and the Customer will work together to ensure the supplied transport stands are returned with Cores in a serviceable condition and a reasonable timeframe (ideally 30 days).  The Company may  charge up to the full replacement value ($AUD65,000) of the transport stands where this condition is not met.

5.TITLE AND RISK

5.1 Goods supplied will be at the Customer’s risk immediately upon delivery.

5.2 The Company’s right under this Clause 5 secures:

(a) The Company’s right to receive payment for all Goods sold under the Agreement; and

(b) All other amounts owing to the Company under the Agreement.

5.3 Until full payment in cleared funds is received by the Company for all Goods supplied by it to the Customer, as well as all other amounts owing to the Company by the Customer under the Agreement:

(a) The Customer acknowledges and warrants that the Company has a security interest (for the purpose of the PPS Act) in the Goods and any proceeds, the proceeds of any sale, lease or other dealings with the Goods, and the Customer must do anything reasonable required by the Company to ensure that such security interest is enforceable, perfected and otherwise effective and has the priority required by the Company which, unless the Company agrees in writing otherwise, is first priority; and

(b) the security interest arising under this Clause 5 attached to the Goods when the Customer obtains possession of the Goods and the Parties confirm that they have not agreed that such security interest attached at any latter time.

5.4 Title to the Goods shall not pass to the Customer until the Company receives payment in full (in cash or cleared funds) for the Goods. Until title to the Goods has passed to the Customer, the Customer must give the Company such information as to the location and condition of the Goods as the Company may request from time to time.

6.PPS ACT

6.1 Unless a contrary intention appears, words or expressions used in Clause 5 and this Clause 6 that are defined in the PPS Act have the same meaning as given to them in the PPS Act.

6.2 To the extent that Chapter 4 of the PPS Act applies to any security interest under these terms and conditions, the following provisions of the PPS Act do not apply, and for the purposes of Section 115 of the PPS Act are “contracted out” of: s.95, s.121(4), s.125, s.129, s.130, s.132(3)(d), s.132(4), s.135, s.142, s.143 and all other provisions that are contrary to these terms.

6.3 The Customer waives its rights to receive any notice required under the PPS Act (including, without limitation, a verification statement under section 157 of the PPS Act) unless the requirement for the notice cannot be excluded.

6.4 In addition to and without derogating from the confidentiality obligations of the Parties set out in Clause 13 below, neither Party will disclose to a person or entity that is not a party to the Agreement, information of the kind mentioned in section 275(1) of the PPS Act unless section 275(7) of the PPS Act applies or that information is publicly available.

7.CANCELLATIONS

The Agreement cannot be cancelled or amended without the Company’s agreement in writing. Should the Customer seek to amend, cancel, or modify the Agreement after acceptance by the Company and the Company agrees to such request, the Customer will be liable for all non-recoverable costs incurred by the Company arising from the amendment, cancellation or modification. Additionally, a reasonable re-stocking fee of 15% of the price payable by the Customer or any Goods the subject of the amendment, cancellation, or modification may be charged by the Company at its discretion.

8.RETURN OF GOODS

8.1 Once Good(s) have been supplied, or after seven (7) days from the date the Purchase Order was received by the Company, whichever is the earlier, an order may not be cancelled by the Customer, for credit or otherwise, without the prior written agreement by the Company.

8.2 The Company is not under any duty to accept Good(s) returned by the Customer and will do so only on terms to be agreed in writing in each individual case.

8.3 If the Company agrees to accept returned Good(s) from the Customer, the Customer must return the Good(s) to the Company at a location nominated by the Company within 14 days of the date of the written agreed terms of return with all freight costs and risk to be the responsibility of the Customer.

8.4 Any Goods returned to the Company must be in original packaging and/or on the same transport stand and received in the same condition as was originally supplied.

8.5 Upon notification from the Customer that they intend to return Good(s) (or cancel an order), as agreed by the Company, or in the event of any other default by the Customer, a cancellation fee may be payable by the Customer.

8.6 The following Good(s) are not returnable to the Company for credit in any circumstances, except under warranty:

(a) any Good(s) altered or damaged by the Customer which are not in their original condition as supplied

(b) any Good(s) having an Invoice value of $10 or less

(c) any Good(s) returned 90 days after the Good(s) were supplied; and

(d) non-stocked items parts specifically ordered to meet customer requirements.

9.FORCE MAJEURE

9.1 If any Party is unable, in whole or in part, by reason of a Force Majeure Event to perform any of its obligations under the Agreement, other than an obligation to pay money, then on such Party giving notice to the other within a reasonable time after the occurrence of such Force Majeure Event, such obligations shall be suspended.

9.2 If a Force Majeure Event continues for more than ten (10) days, then the Company shall have the right to terminate the Agreement and payment shall be due to the Company in accordance with Clause 10 below. In such event, the Company shall have the right to invoice the Customer for any non-recoverable costs of the Company, including for Goods which are being manufactured or in transit.

10.PAYMENT AND PRICE

10.1 Unless otherwise stated to the contrary in the Agreement, any quotes provided by the Company are stated in Australian Dollars, are valid for 14 days, Ex Works and do not include freight, insurance, or taxes.

10.2 If quotes by the Company are for ongoing supply, and the Company is able to demonstrate that a material change of the economic circumstances (i.e. a material change in commercial or market conditions) will permanently or temporarily cause the performance of its obligations hereunder to become substantially more onerous than was expected at the time the current or listed pricing was effected, the Company shall in good faith, with not less than 30 days written notice to the Customer, make such necessary price adjustments or amendments to the pricing of the Goods and/or Services to mitigate the onerous character of such obligations.

10.3 The Company shall invoice the Customer upon delivery of Goods or performance of Services and unless otherwise specified in a quotation or relevant order acceptance notice, payment of invoiced amounts are due strictly within 30 days of the date of the invoice issuance, without any set off or deduction.

10.4 The Company may deliver Goods by instalments, which shall be invoiced and paid for separately. Each instalment shall constitute a separate contract. Any delay in delivery or defect in an instalment shall not entitle the Customer to cancel any other instalment.

10.5 Any extension of credit shall be at the absolute discretion of the Company and where extended, unless otherwise advised in writing, shall require payment by strictly 30 days from the end of the month in which the invoice is issued without deduction or set off. The amount of credit will be subject to change without notice.

10.6 Without in any way limiting the Company’s right to require payment in full on the due date, the Company may charge interest on overdue amounts at the Australian Taxation Office’s GIC daily rate. This is to be calculated as follows: (amount due) X (GIC daily rate) X (number of days overdue) = amount of interest to pay.

10.7 All losses, expenses, and costs (including legal fees) on an indemnity basis, consequent upon the Customer’s failure to pay in accordance with the Agreement, are recoverable from the Customer by the Company.

11.INDEMNITY

11.1 Except to the extent caused or contributed to by the Company or its officers, employees or contractors, the Customer shall be responsible for and shall save, indemnify, defend and hold harmless, the Company Group, from and against all losses, claims, procedures, damages, costs and expenses (collectively Claims), in respect of:

(a) Loss of or damage to the Company Group equipment, or the property of the Company Group or its subcontractors whether owned, hired, leased, or otherwise provided by the Company Group, arising from, or relating to the performance of the Services or the provision of the Goods.

(b) Personal injury including sickness, disease, or death to any member of the Company Group or its subcontractors arising from or relating to the performance of the Services or the provision of the Goods.

(c) Personal injury including sickness, disease, or death, or loss of or damage to property of any third parties to the extent that any such injury, loss or damage is caused by the negligence or breach of duty (whether statutory or otherwise) of the Customer.

11.2 Notwithstanding anything contained in the Agreement to the contrary, neither Party shall be liable to the other Party for and each Party hereby releases the other Party, its parent, subsidiary, affiliated and related companies and their respective officers, directors, employees and agents, from any of its own indirect, special, punitive or consequential damages or losses including, without limitation, damages or losses for lost production, lost revenue, lost product, lost profit, lost business, or business interruptions, arising out of, or related to, the performance of or subject matter of the Agreement.

11.3 Notwithstanding anything to the contrary in the Agreement or elsewhere, the Company is not liable to the Customer for any liquidated damages, delay penalties, delay damages, performance guarantees or any other similar obligation.

11.4 The exclusions of liability and indemnities set forth in this Clause 11 shall apply to any and all Claims, without regard to the cause(s) thereof including, without limitation pre-existing conditions, break of representation or warranty (express or implied), strict liability, tort, breach of contract, breach of statutory duty, break of any safety requirement or regulation, or the negligence of any person or party, including the indemnified Parties, whether such negligence be sole, joint and/or concurrent, active or passive, or any other theory of legal liability.

11.5 Redress under the indemnity and release provisions set forth in this Clause 11 shall be the exclusive remedy/remedies available to the Parties for the Claims covered by such provisions.

12.INTELLECTUAL PROPERTY

12.1 The Company shall retain ownership of all intellectual property rights of whatever nature (whether registrable, registered or unregistered) and, if applicable, be assumed to have asserted its moral rights over all information arising out of, provided, acquired or generated by the Company in the provision of the Goods and Services, except that the Company shall be deemed to have granted the Customer a non-exclusive and non-assignable licence to make use of any such information for the performance of the Agreement only.

12.2 Without limiting Clause 12.1 above, all intellectual property rights in or arising out of or in connection with the Services or the design of any Goods or solution undertaken at the Customer’s request shall be owned by the Company. In the event the Company owns copyrights, patents, or trade secrets, or has filled applications with respect to any of its own technology related to the Services, and if the Company makes any improvements on or to such technology, the Company shall own all such improvements, including all related information, provided such information is not the Customer’s confidential information.  

12.3 The Customer shall retain ownership of any intellectual property rights in any documents, information and materials provided by the Customer relating to the Services and/or Goods, including drawings, data, reports and specifications, but the Company shall have a perpetual, worldwide, non-exclusive licence of all such intellectual property rights for the purpose of exploiting the Company’s intellectual property rights referred to in Clauses 12.1, 12.2 and 12.3 above.

13. CONFIDENTIAL AND PROPRIETARY INFORMATION

13.1 Each Party recognises and acknowledges it will have access to certain confidential information (written or otherwise) of the other Party, and that such information may constitute valuable, special, and unique property of the other Party. Each Party further acknowledges that the performance of the Services and the provision of the Goods hereunder will involve proprietary and confidential information and the creation of such, and thus also will be subject to the terms of this Clause 13. Subject to Clause 13.3, each Party will not, during or after the supply of Goods and/or provision of Services under the Agreement, disclose any of the other Party’s confidential information to any third party for any reason or purpose whatsoever without the express written permission of the other Party, nor shall a Party use the other Party’s confidential information for any purpose, except in connection with the performance of the Agreement, and both Parties shall cause all persons to whom confidential information of the other Party is disclosed as permitted by this Clause 13 to be informed of the terms of this Clause 13 and must ensure such persons comply with the confidentiality and non-use obligations set forth in this Clause 13. A Party will be liable for all acts and omissions of persons to whom it discloses the other Party’s confidential information (including under Clause 13.3) which, if done or omitted to be done by that Party would be a breach of this Clause 13.1.

13.2 Clause 13.1 does not apply to information which:

(a) is in the public domain or which comes into the public domain after the Agreement becomes effective through no fault on the part of a Party

(b) is independently developed by a Party, or a third party at its direction, in each case without reference to the confidential information of the other Party

(c) was already lawfully in the possession of a Party prior to receipt from the other Party

(d) is required to be disclosed by law or the rules of a stock exchange; or

(e) is received after the agreement becomes effective from a third party who is not subject to any obligation of confidence with respect to the information.

13.3 A Party may disclose confidential information of the other Party to such of the first named Party’s employees, consultants and advisors as may reasonably require access to it in connection with the performance of the Agreement or the resolution of any dispute in relation to the Agreement.

14. LIMIT OF LIABILITY

At all times, the Company’s total liability in contract, tort (including negligence), misrepresentation or otherwise in connection with the Agreement shall be limited to the amount of payments received by the Company from the Customer (net of GST, delivery costs and sums refunded to the Customer) under the relevant Purchase Order.

15. GST

15.1 Words or expressions used in this Clause 14 that are defined in the GST Law have the same meaning given to them in the GST Law.

15.2 Unless otherwise stated, any amount specified in the Agreement as the consideration payable for any taxable supply does not include any GST payable in respect of that supply.

15.3 If a Party makes a taxable supply under the Agreement (Supplier), then the recipient of the taxable supply (Recipient) must also pay, in addition to the consideration for that supply, the amount of GST payable in respect of the taxable supply at the time the consideration for the taxable supply is payable.

15.4 Notwithstanding Clause 15.3 above, the Recipient is not obliged under the Agreement to pay the amount of any GST payable until the Supplier provides a valid tax invoice for the taxable supply.

15.5 If an adjustment event arises in relation to the taxable supply made by a Supplier under the Agreement, the amount paid or payable by the Recipient pursuant to Clause 15.3 above will be amended to reflect this and a payment will be made by the Recipient to the Supplier or vice versa as the case may be.

15.6 If a third party makes a taxable supply and the Agreement requires a party to the Agreement (the payer) to pay for, reimburse or contribute to any expense or liability incurred by the other party to that third party for that taxable supply the amount the payer must pay will be the amount of the expense or liability plus the amount of any GST payable in respect thereof but reduced by the amount of any input tax credit to which the other party is entitled in respect of the expense or liability.

16. COMPLIANCE

The Customer warrants that it will, always, comply with all applicable laws, statutes, regulations and codes relating to sanctions, anti-corruption, anti-money laundering, anti-bribery and improper payments including but not limited to the Criminal Code Act 1995 (Cth) (Australia), the Foreign Corrupt Practices Act 1997 (USA) and the Bribery Act 2010 (UK). Notwithstanding the foregoing, the Customer must:

(a) Not give or offer or promise to give, receive, or agree to accept any payment, gift or other benefit or advantage which breaches the applicable law.

(b) Have and maintain in place throughout the term of this Agreement its own policies and procedures under the applicable laws to ensure compliance and enforce such compliance where appropriate.

(c) Cause any of its agents or subcontractors who are performing work under or supplying goods in relation to this Contract, to comply with the same.

17. MODERN SLAVERY

The Company takes its obligations in respect of Modern Slavery seriously and expects suppliers, customers, agents, affiliates, and business partners to do the same. The Company’s Modern Slavery Policy can be obtained upon request from the Company by emailing admin@valenhold.com.

18. SEVERABILITY

If any clause(s) of the Agreement is held to be void and/or unlawful by any authority or court having proper jurisdiction, the balance of the Agreement shall remain in full force and effect.

19. APPLICABLE LAW

The Agreement shall be construed in accordance with and be governed by the laws applying in the State of Queensland. Each Party submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in that State in connection with all matters concerning the Agreement.