Drilling and Pumping Supplies Ltd
29 Jubilee Road
Newtownards, Co Down, BT23 4YH
Tel.: 028 9181 8347     Fax.: 028 9181 3837
E-mail: sales@drillandpumpsupplies.com
Web site www.drillandpumpsupplies.com

GENERAL CONDITIONS OF SALE TRADING AND SETTLEMENT 2006

THIS DOCUMENT STATES OUR GENERAL CONDITIONS OF TRADING

CUSTOMERS ARE ASKED TO READ THIS DOCUMENT CAREFULLY, WHERE DRILLING AND PUMPING SUPPLIES LTD (HEREIN CALLED 'THE COMPANY') IS CARRYING OUT WORK TO SPECIFIED PERFORMANCE CRITERIA THE PURCHASER SHOULD NOTE CONTRACT TERMS AND APPENDIX IF INCLUDED.

GENERAL CONDITIONS OF SALE, TRADING AND SETTLEMENT 2006

1. The following conditions are valid for all quotations and sales unless varied in writing by a Director of the Company. All notifications to the Company must be in writing.

2. All quotations are valid for 60 days.

3. Orders are accepted on a fixed price basis subject to the amendment of, or introduction of, statute law or regulation, force majeure, strikes and events which cannot be reasonably foreseen by the Company, its suppliers, agents or sub-contractors.

4. All prices stated are nett of taxes and carriage charges.

5. Delivery will be made at the agreed date, which will be that which appears on the acknowledgement of order to the customer. The Company is not responsible for any failure of its agents, suppliers, or sub-contractors or for any of the reasons mentioned in paragraph 3.

6. Claims for shortages or non-conformity of goods must be notified within 3 days of receipt of the consignment. Non-delivery must be notified within 7 days of the issue of an invoice.

7. Payment for all goods, materials and services provided by the Company become due 30 days from date of invoice. If the purchaser defaults on any monthly term then all discounts are void and the gross balance of account becomes due on demand. The account will be placed on STOP until such time as the account is brought back in order. The Company reserves the right to charge interest at B.M.L.R plus 2% for the period necessary to fully recover any debt beyond normal trading settlement period.

8. All goods supplied remain the property of the Company until the total sums owing are paid. The purchaser shall remain the bailee only and the Company may take possession of the goods if the Company deems this to be necessary after the purchaser is in default of credit terms. No liability shall arise to the Company's detriment whilst the goods are in the care of the purchaser.

9. All goods are warranted for 12 months with regard to materials, labour, construction and the warranty of the original manufacturer where applicable. All defective materials must be returned to the Company's works for inspection and repair - or replacement at the discretion of the Company. The use of labour or materials not sanctioned by the Company will negate any warranty extant or implied. The Company does not accept any liability for consequential damages in any event.

10. All matters will be subject to the law of Northern Ireland.

11. Statutory rights are not affected by these conditions.

Contract Terms and Conditions 2006

1a) Where site or other material factors change or become apparent during the performance of the contract the Company will be responsible for notifying the purchaser of this condition and the costs liable to be incurred before proceeding. If the purchaser declines to incur these costs the Company will do all possible within the agreed purchase price to achieve a working system but will not assume any responsibility for the extra burden of works not previously described in their offer.

2a) The price quoted will be held for the period stated on the offer subject to the same factors as for supply only.

3a) Title is reserved for each stage of the contract and the credit terms are as agreed from the offer

4a) Our standard credit terms, subject to satisfactory credit references, are shown in attached appendix. These differ from the terms set out in paragraph (7) of our General conditions (2006)

5a) The equipment will be warranted to the extent shown on the offer and generally for 12 months from commissioning except for consumable items and any item where the Company does not receive that warranty from the manufacturer.

6a) Where the activities of others prevent the Company’s action, the Company reserves the right to re-schedule work and to make good any expenses incurred.

7a) The proposed schedule will be adhered to but the Company reserves the right to extend this for inclement weather, unforeseen changes and the action of others outside its control.

8a) The Company will act with due care to avoid disruption of under ground services but cannot accept liability for damage to services which are not clearly identified by marks on the ground. The Company will take the advice of water and electricity statutory authorities as to hazards on site but will not warrant this as accepting any responsibility for the exact location of services.

9a) The Company operates a Health and Safety Policy and carries insurance for it's employees but all customers are expected to ensure site safety and protect themselves appropriately.

10a) Where additional work is requested during the contract period these conditions will apply. All such work will be agreed by both parties and notified in writing before work commenced.

Apendix one

Payments schedule and settlement terms

Cash with order to start value of 25% of gross value

Cash on completion of the major works 25% of gross value

Cash on completion of the minor works to 25% of gross value

Cash 7 days from commissioning of the total contract to 95% of gross value

Retained 5% to be paid at 30 days from invoice date subject to the purchaser confirming the performance of the equipment.

The gross value of the contract is defined as the contract price agreed plus value added tax at the rate applicable to the nature of the project.

In the event of the cancellation by the purchaser of all or any part of the contract the Company reserves the right to request for and be paid the monies expended or committed up to the date, or the initial payment, whichever is greater.

Apendix two

Reference: Conditions of Sale (para. 9)
Contract Terms & Conditions (para. 5A)

Warranty 24 months from date of final commissioning.

ON BEHALF OF: ON BEHALF OF:
Drilling & Pumping Supplies Limited

SIGNED FOR AND SIGNED FOR AND

Site management and work schedule

The purchaser will make available on site secure storage for materials and equipment and ensure sufficient levels of insurance for loss or damage to these.

The Company will agree a work pattern with a nominated representative of the purchaser to minimise disruption to the usual routine at the site. Our offer price is based on continual progress at the site.

Where work will not take place on nominated days the Company will notify the purchaser as soon as this becomes apparent and agree a new schedule.