Terms & Conditions

All GoldBio products are intended for research use only. Products may not be used in human or animals in the diagnosis of disease or other conditions or in the cure, mitigation, treatment, or prevention of disease. Products are not for the use as food or with food or food ingredients for human or animal consumption.

GOLDBIO’S COMMITMENTS

a)Product Warranties.i) The Product when shipped will meet the then-current Product sales specifications (“Specifications”) of Gold Biotechnology, Inc. (“GOLDBIO”); and ii) GOLDBIO will convey the Product with good title, free from any lawful lien or encumbrance.

b)Specifications.GOLDBIO will notify Customer if the Specifications are changed.

c)SDS.GOLDBIO will supply Customer with current safety data sheets (“SDS”).

d)Product Delivery Subject to Availability.Any obligation of GOLDBIO to deliver ordered Product to Customer is subject to (i) availability to GOLDBIO of Product and raw materials and components and (ii) Section 4 and the other provisions of these Terms.

2.CUSTOMER’S COMMITMENTS

a)Taxes.Customer will pay all taxes and duties that are increased or levied, now or in the future, in connection with the manufacture, sale, transportation, use or disposal of the Product.

b)Payments/Credit.Unless there is a contract signed by GOLDBIO or purchase order acknowledgment to the contrary, Customer will pay to GOLDBIO the Price for the Product(s) net thirty (30) days from invoice date.Time of payment is of the essence.If (1) Customer does not pay on time or (2) Customer’s financial responsibility becomes unsatisfactory and GOLDBIO deems itself insecure, then GOLDBIO may defer shipments, accelerate the due date on all amounts owed GOLDBIO, require cash payments or other security and/or terminate these Terms, in each case without liability and without waiving any other remedies GOLDBIO may have against Customer.Customer agrees to pay all of GOLDBIO’s collection costs, including prompt payment of reasonable legal fees and costs.GOLDBIO may charge Customer the maximum interest allowed by law on all overdue amounts.

c)Responsible Practices.Customer will (i) be solely responsible for determining the suitability of Product in Customer’s formulations and applications prior to use; (ii) familiarize itself with any product literature or information GOLDBIO provides under GOLDBIO’s product stewardship program, including the SDS for each Product; (iii) adopt and follow safe and appropriate handling, storage, transportation, use, treatment and disposal practices with respect to the Product, and the containers thereof, including such special care and practices as Customer’s use of the Product requires including, without limitation, all such practices required by federal, state and local government statutes, rules, regulations or ordinances; (iv) provide appropriate warnings to and instruct its employees, independent contractors, agents and customers of the precautions and safe use practices required in connection with the unloading, handling, storage, use, treatment, transportation and disposal of the Product, and the containers thereof, including without limitation information contained in GOLDBIO’s most current SDS; and (v) comply with applicable health, safety, security and environmental laws, and take action necessary to avoid spills or other dangers to persons, property or the environment.GOLDBIO may immediately suspend Product shipments and/or terminate these Terms on fifteen (15) days notice if Customer fails to comply with any of its commitments under this subsection.

d)Inspection.Customer shall promptly, and in any event prior to use and/or commingling, inspect Product shipments for any damage to packaging, shortage, material deviation from any Product samples provided by GOLDBIO to Customer, or non-conformance to these Terms.All claims for damage to packaging, shortage, material deviation, or non-conformance which could reasonably be discoverable in the course of such investigation shall be waived unless Customer notifies GOLDBIO in accordance with Section 7.For purposes hereof, such deviation shall be considered “material” if Product is not suitable for its intended use by Customer as a result of such deviation.

e)Indemnity.Customer will indemnify and hold GOLDBIO harmless for all claims, damages and related costs, including prompt payment of reasonable legal fees and costs, arising out of Customer’s noncompliance with any of its commitments under subsection c) and d) above.

f)No Reselling.Customer understands and acknowledges that it is not engaged as a distributor, reseller, repackager, or relabeler of the Product(s), and that any distributing, reselling, repackaging, or relabeling the Product(s) by Customer is strictly prohibited, unless otherwise agreed in writing by GOLDBIO.

3.CHANGES TO TERMS

GOLDBIO may increase Price, change transportation terms, change payment terms, and/or change the notice provision, by giving Customer at least fifteen (15) days prior notice.These changes will be deemed accepted unless Customer objects in writing before the effective date of the change.GOLDBIO shall advise Customer within fifteen (15) days from receipt of timely written objection from Customer whether GOLDBIO shall:

a)continue to supply Product on terms and conditions in effect prior to the announced change;

b) enter into negotiations with Customer; or

c) delete affected Product from these Terms.

If GOLDBIO elects to enter into negotiations as allowed under b) above, and if, within thirty (30) days from the date of GOLDBIO’s notice of change, a written agreement between the parties has not been reached and GOLDBIO has not agreed to continue to supply on the terms and conditions in effect prior to the announced change, then either party may, upon written notice to the other party, terminate the negotiations and delete the affected Product from these Terms.Unless otherwise agreed in writing as part of the negotiations, price and other terms applicable during the negotiating period shall be those which GOLDBIO implemented by its initial notice.

A Temporary Voluntary Allowance (“TVA”), from the current Price of any Product may be instituted, changed, or withdrawn by GOLDBIO at any time, with or without notice, and shall not be deemed a change of Price.

4.FORCE MAJEURE / EXCUSED PERFORMANCE

Performance is excused when (a) there is any contingency beyond the reasonable control of GOLDBIO or Customer including without limitation trade or tariff disputes, war or hostilities, acts of God, accident, fire, explosion, public protest, breakage of equipment, pandemic, acts of terrorism, activity of a governmental authority (including, for example, the passage of legislation or the failure to grant an export license), or labor difficulties and/or labor strikes, in each case which interferes with GOLDBIO’s or Customer’s production, supply, transportation or consumption practice; or (b) GOLDBIO is unable to obtain raw materials, power or energy on terms GOLDBIO deems commercially acceptable.During times when performance is excused, all quantities of affected Product will be eliminated from these Terms without liability and GOLDBIO will allocate its supplies of raw materials and Product among their various uses in any manner that GOLDBIO determines is fair and reasonable, but these Terms will otherwise remain in effect.GOLDBIO will not be obligated to obtain raw materials, intermediates, or Product from other sources, or to allocate raw materials, intermediates, or Product from GOLDBIO’s internal use.The foregoing provisions shall in no event relieve Customer of its obligation to timely pay in-full a Product invoice.

5.EXCLUSION OF ALL OTHER WARRANTIES

THE WARRANTIES IN SECTION 1.a) ABOVE ARE GOLDBIO’S SOLE WARRANTIES RESPECTING PRODUCT INCLUDING WITHOUT LIMITATION PRODUCT QUALITY AND PERFORMANCE, AND ARE MADE EXPRESSLY IN LIEU OF AND EXCLUDE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND ALL OTHER EXPRESS OR IMPLIED REPRESENTATIONS AND WARRANTIES PROVIDED BY STATUTE, COMMON LAW OR OTHERWISE.

6.LIMITATION OF LIABILITIES

a) NEITHER PARTY WILL BE LIABLE TO THE OTHER FOR ANY CONSEQUENTIAL, PUNITIVE, SPECIAL, EXEMPLARY OR INCIDENTAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS, EVEN IF THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

b)CUSTOMER’S EXCLUSIVE REMEDY, AND GOLDBIO’S TOTAL LIABILITY, FOR ALL CLAIMS ARISING OUT OF THESE TERMS (INCLUDING WITHOUT LIMITATION BREACH OF WARRANTY, NEGLIGENCE, STRICT LIABILITY AND TORT) ARE LIMITED TO CUSTOMER HAVING THE OPTION OF REPLACEMENT OR REPAYMENT OF THE PURCHASE PRICE PAID FOR THE PRODUCT WHICH IS THE SUBJECT OF THE CLAIM(S).

c)CUSTOMER ASSUMES ALL RISKS AND LIABILITIES RESULTING FROM THE USE OF THE PRODUCT SUPPLIED UNDER THESE TERMS.

7.NOTICE OF CLAIMS

ALL CLAIMS RELATING TO QUALITY, QUANTITY, WEIGHT, CONDITION, OR LOSS OR DAMAGE TO THE PRODUCT CONTAINED IN ANY DELIVERY, AND ALL OTHER CLAIMS ARISING IN CONNECTION WITH THESE TERMS, WILL BE WAIVED BY CUSTOMER UNLESS MADE IN WRITING TO GOLDBIO WITHIN TEN (10) DAYS AFTER EITHER (a) TENDER OF DELIVERY TO, AND REFUSAL TO ACCEPT DELIVERY BY, CUSTOMER, (b) ACCEPTANCE OF DELIVERY BY CUSTOMER, OR (c) THE DATE(S) SPECIFIED FOR DELIVERY; PROVIDED, HOWEVER, THAT IF CUSTOMER HAS PREVIOUSLY APPROVED A PRODUCT SAMPLE PROVIDED BY GOLDBIO, THEN CUSTOMER MAY NOT REJECT, ON THE BASIS OF PRODUCT QUALITY, DELIVERY OF THE PRODUCT TO WHICH SUCH PRODUCT SAMPLE RELATES, UNLESS CUSTOMER DELIVERS TO GOLDBIO, WITHIN THIRTY (30) DAYS AFTER DELIVERY OF SUCH PRODUCT TO CUSTOMER, A WRITTEN DETERMINATION BY AN INDEPENDENT LABORATORY, ENGAGED BY CUSTOMER AT CUSTOMER’S EXPENSE, THAT SUCH PRODUCT MATERIALLY DEVIATES FROM SUCH PRODUCT SAMPLE AND IS NOT SUITABLE FOR ITS INTENDED USE BY CUSTOMER AS A RESULT OF SUCH DEVIATION.

8.TRANSPORTATION EQUIPMENT

Customer will unload and return all transportation equipment to carrier promptly and in any event within the carrier’s period for returning transportation equipment without incurring detention charges.Carrier or GOLDBIO may collect carrier’s standard detention charge from Customer for carrier equipment if held beyond carrier’s allowable time.When Product is to be shipped by barges, vessels, or rail, an addendum containing additional terms and conditions applicable to such shipment will be made a part of these Terms.Customer will take reasonable steps to preserve claims for loss or damage in transit against carrier.

9.ASSIGNMENT

a)These Terms are not transferable or assignable by either party without prior written consent of the non-assigning party except that Customer hereby consents, without further notice from GOLDBIO, to GOLDBIO’s potential future assignment or delegation of (i) some or all of GOLDBIO’s obligations hereunder to any Affiliate, in which case the Affiliate may effect delivery of the Product and invoice Customer directly, or (ii) these Terms and all of GOLDBIO’s rights and obligations hereunder, on a product-by-product basis, to any Affiliate.

b) In the event Customer transfers its business involving Product under these Terms, through a sale or transfer of stock or assets, the new owner(s), as a condition of the sale or transfer and subject to GOLDBIO’s express written consent pursuant to Section 9.a), shall be obligated by Customer to assume all of Customer’s obligations under these Terms relating to the affected Product.

c)“Affiliate” means with respect to any entity, any other entity directly or indirectly owning, owned by, or under common ownership with, such entity; for purposes of this definition, “owning”, “owned” and “ownership” shall mean the possession, directly or indirectly, of an ownership interest, directly or indirectly through one or more intermediaries, of at least fifty percent (50%) as a result of ownership of stock or other voting securities, contractual relationship or otherwise.

d)If these Terms are assigned in accordance with subsections a) or b) above, all terms and conditions contained herein shall remain in full force and effect.

10.SHIPPING/TRANSFER OF TITLE/RISK OF LOSS

• The shipping terms contained in any sales contract signed by GOLDBIO or purchase order acknowledgment for the Product shall govern with respect to transfer of title and risk of loss of such Product from GOLDBIO to Customer.However, the following shipping terms shall apply only if the sales contract or purchase order acknowledgement is silent on shipping terms.For overland shipments, Product will be delivered, and title and risk of loss shall transfer to Customer in accordance with INCOTERMS 2010 FCA GOLDBIO’s shipping facility.For overseas shipments, Product will be delivered, and title and risk of loss will pass, to Customer in accordance with the INCOTERMS 2010 CIF when delivered on board the ship by GOLDBIO.
• Unless otherwise directed by Customer, Customer agrees that Seller shall select the carrier and pre-pay the freight and insurance, which shall be charged to Customer plus an administrative fee.Unless specified otherwise, Customer is responsible for clearance of the Product through customs at the port of destination, along with all duties, taxes and fees in connection therewith.
• Unless otherwise specified in a sales contract signed by GOLDBIO, or purchase order acknowledgement, title to Product shall be deemed to pass concurrently with delivery in accordance with the applicable INCOTERMS 2010 designation.Delivery times are approximate and are dependent upon prompt receipt by GOLDBIO of all information necessary to proceed with the work without interruption.If Products delivered do not correspond in quantity, type or price to those itemized in the shipping invoice or documentation, Customer shall so notify GOLDBIO within ten (10) days after receipt.

11.GOLDBIO INTELLECTUAL PROPERTY

Customer acknowledges that all formulations, trademarks and copyrights relating to the Products are the property of GOLDBIO.Customer shall not take any action that infringes upon any trademark, copyright, patent, or other intellectual property of GOLDBIO.In addition, Customer shall not use any trademark of GOLDBIO on or in relation to any product not originating from GOLDBIO.Customer shall not use any trademark of GOLDBIO on or in relation to any Product which Customer repacks or re-labels for resale (with GOLDBIO’s written permission pursuant to Section 2(f)) without obtaining written authorization from GOLDBIO, specifying the terms and conditions of such use.If Customer uses any product trademark of GOLDBIO in any price list, advertisement or product literature, Customer shall identify the trademark as a “Trademark of GOLDBIO Chemical Company (‘GOLDBIO’) or an affiliated company of GOLDBIO.”

12.GENERAL

• In the event of any conflict between any terms in this document and in any sales contract signed by GOLDBIO or purchase order acknowledgement, the terms of such sales contract or purchase order acknowledgment shall prevail.Except for the foregoing, however, this document, together with its attachments and addenda, constitutes the complete and final agreement between Customer and GOLDBIO regarding Product, and supersedes all prior understandings and agreements, whether written or oral, as to the subject matter herein.This document may be modified only by a written amendment, expressly stated as such, signed by both parties.
• This Agreement is executed in English. In the event this Agreement is translated into a language or languages other than English, this version in English shall be controlling on all questions or interpretations and performance.
• The rights and obligations under Sections 2, 5, 6, 7, 8, 10, 11, and 12 will survive the cancellation, termination or expiration of these Terms.

• Notwithstanding anything to the contrary contained herein, Customer shall defend, indemnify and hold GOLDBIO harmless from and against all claims, liabilities, costs and expenses (including, but not limited to, those related to injury to or death of Customer’s employees, and including prompt payment of reasonable legal fees) arising from or connected with any third party claims related to injury to or death of any person or persons, or damage to or loss of property in any way arising from or connected with the possession, handling, processing or use of the Product(s) by Customer, except those resulting solely from the use of Product(s) not conforming to the contracted Specifications, which non-conformity was not known to Customer.
• The failure of a party to exercise its rights on one occasion, including the obligation to supply Product, shall not be deemed to be a waiver of the right to exercise those rights in the future.
• If any provision of these Terms is declared invalid by any court or government agency, all other provisions shall remain in full force and effect.
• Each party represents and warrants that it understands and shall comply with the requirements of the U.S. Foreign Corrupt Practices Act and all other applicable anti-bribery and anti-corruption laws of the jurisdictions under which each party is or may be acting hereunder.
• These Terms will be governed by the law of the country from which the GOLDBIO invoice originates (“Governing Law”) without reference to its principles of conflict of laws.Additionally, GOLDBIO and Customer hereby submit to the exclusive jurisdiction, for any lawsuit arising out of these Terms, in any court located in a major city of the country of the Governing Law that is closest to the applicable GOLDBIO principal or registered office (“Jurisdiction”).The U.N. Convention on Contracts for the International Sale of Goods (Vienna, 11 April 1980) or any successor thereto is expressly excluded, unless a court of competent jurisdiction in the country in which the lawsuit is brought prohibits these Terms from being governed by the Governing Law, in which case these Terms will be governed by the U.N. Convention on Contracts for the International Sale of Goods or any successor thereto.The Uniform Law on the International Sale of Goods, as well as the Uniform Law on the Formation of Contracts for the International Sale of Goods, is expressly excluded.
• Customer agrees to comply with all export laws of the country from which the Product originates (“GOLDBIO’s domicile”) and all import laws of any country having jurisdiction over Customer or the transactions contemplated by these Terms.
• GOLDBIO is subject to application of the export control laws of GOLDBIO’s domicile.In this capacity GOLDBIO may be prohibited from directly or indirectly exporting and/or selling products, or allowing third parties to directly or indirectly sell or export products, into certain embargoed countries and to certain restricted or denied customers under the export control laws of GOLDBIO’s domicile.Prohibited transactions include any transaction in which Product(s) are shipped to or through the embargoed countries or which involve the restricted or denied customers.Customer shall not directly or indirectly, sell or export the Product(s) to any of these embargoed, restricted or denied persons, entities or countries, nor sell or otherwise transfer any such Product to any customer under circumstances where it has knowledge or reason to believe that the Product will be sold or exported to any such embargoed, restricted or denied person, entity or country.The Customer further certifies that, to the best of its knowledge, the Product sold and delivered by GOLDBIO will not in any way be used for purposes that are prohibited under national and international regulations.
• Shipping and delivery dates are approximate and are given by GOLDBIO in good faith, but are not guaranteed.Customer shall be responsible for all storage and other costs relating to Customer’s failure to accept delivery pursuant hereto.
• In the event that Customer files or has filed against it a petition for relief under the insolvency laws, receivership laws, bankruptcy laws, or the equivalent laws of any jurisdiction, GOLDBIO, in its sole discretion, shall have the right to stop any shipments of the Product or any other goods then in transit to Customer, and thereby exercise an immediate right of possession thereto.