These General Terms and Conditions of Trade for Buyers/Sellers apply to all users who register as (potential) buyers/sellers in Auctions, Tenders or Classified Sales at Mattress Machinery Mart. These General Terms and Conditions of Trade for Buyers/Sellers apply to all Buyers/Sellers using the system, regardless of the physical location of the individual accessing user. Any general terms and conditions of trade of a buyer/seller contradictory to or deviating from these General Terms and Conditions of Trade for Buyers/Sellers shall not be accepted by Mattress Machinery Mart unless Mattress Machinery Mart has expressly consented to their application in writing.

When a buyer/seller registers with Mattress Machinery Mart, puts a binding sales offer in an Auction or Tender, lists products in a Classified Ad, as a seller or submits a bid in an Auction or Tender, or an offer in a Classified Ad the buyer/seller affirms its acceptance of these General Terms and Conditions of Trade for Buyers/Sellers. Mattress Machinery Mart may amend these General Terms and Conditions of Trade for Buyers/Sellers as published on www.mattressmachinerymart.com at any time. Such amendment will be posted to the website and will become effective 14 days after they are posted.

Registration

Registration of each buyer is a prerequisite for submitting bids/offers. Similarly registration of each seller is a prerequisite for submitting binding sales offers or listing products. A buyer/seller registration form is posted on the web site www.mattressmachinerymart.com. By filing its application, the buyer/seller affirms that it is or acts for a business and has given correct information around its business and contact details as requested in the Company's Registration Procedure. The buyer/seller hereby warrants that all information will be true, accurate and complete and will immediately inform Mattress Machinery Mart of all changes occurring during the term of the buyer's bid/offer respectively the sellers binding sales offer/product listing at the help of the relevant means.

Participants

Only businesses are allowed to participate in Auctions/Tender or Classified Sales. Participants herein referred to as both buyers and sellers, who register as a company without supplying adequate evidence of formation and existence may be excluded from the Auction/Tender or Classified Sale.

Exclusion of Buyers/Sellers; Rejection or Amendment of Bids and Offers

Mattress Machinery Mart may exclude any participant from any Auction, Tender or Classified Sale and block any registration if the participant has violated these General Terms and Conditions of Trade for Buyers/Sellers as published on www.mattressmachinerymart.com. Furthermore, Mattress Machinery Mart reserves the right to exclude products from offers, to refuse or pull-back acceptances, bids or offers as well as to discontinue single Auctions/Tenders or Classified Sales or its services all together.

Liability

Mattress Machinery Mart shall not be liable for declarations or omissions from the participants nor from any other third person whose services are employed for the convenience of the participants under these General Terms and Conditions of Trade for Buyers/Sellers as published on www.mattressmachinerymart.com (e.g. independent product inspectors). Furthermore, Mattress Machinery Mart shall not be liable for the credit-worthiness of the buyer/seller. As far as Mattress Machinery Mart has security and verification processes in place they are implemented for the convenience of the participants only to minimize the risks of sellers and buyers. Nonetheless, the post-auction/tender or classified sales payment is handled offline.

Mattress Machinery Mart does not accept any liability with regard to the inspection of the offered/listed products by an independent inspector, the publication of the posted Auctions/ Tenders of Classified Sales, the posting/acceptance of offers/products and (specified and proxy) bids, the consideration of submitted bids/offers, the functioning of the Mattress Machinery Mart System, the undisturbed execution of Auctions/Tenders or Classified Sales as well as the accordance of the system time with real time. In addition, Mattress Machinery Mart shall not be liable for the seller's title to the offered/listed products.

Mattress Machinery Mart shall not be liable for damages occurred when accessing the site www.mattressmachinerymart.com, which the buyer/seller could have prevented with reasonable means, in particular program and data protection as well as security or back-up features.

For pricing information the buyer must solely relate to the currency the price is originally stated in the seller's offer/listing. Currency conversions are for the convenience of the buyer only. Although the exchange rates used for the conversion are updated on a regular bases, Mattress Machinery Mart does not accept any liability with respect to the correctness and completeness of the data used for the conversion or the conversion it's self.

Should Mattress Machinery Mart provide the buyer with a translation or should the seller elect to procure translation services for a given posting, Mattress Machinery Mart herewith excludes any and all liability for or in connection with any translation.

The buyer/seller is liable to Mattress Machinery Mart for all damages that Mattress Machinery Mart incurs due to a violation on the side of the buyer/seller of the laws or these General Terms and Conditions of Trade for Buyers/Sellers and is obligated to exempt Mattress Machinery Mart from any and all possible claims of third parties. In particular, the buyer/seller is liable to Mattress Machinery Mart for damages, which Mattress Machinery Mart or third parties incur due to negligent transmitting of defective/viral data.

Commission

In case a buyer is awarded the contract or a purchase contract is concluded, the seller is obligated to pay to Mattress Machinery Mart a service commission in the amount of a 12.5% of the offered purchase price agreed upon at Auction/Tender or Classified Sale plus VAT. The service commission is due and payable upon receipt of the respective invoice from Mattress Machinery Mart regardless of the payment of the purchase price and the legal fate of the purchase price claim.

If in an Auction/Tender or Classified sale, any seller sells or transfers products which have been listed on the Mattress Machinery Website, to any buyer outside the Negotiated Sale Procedure of the site either whilst listed on the site or within 30 days of removal from the site, the seller shall be obligated to pay Mattress Machinery Mart a commission pursuant to this Section. In such case, the commission will be calculated from the agreed sale price or the actually agreed purchase price whichever is the greater.

Data Protection

Mattress Machinery Mart shall transmit all information in connection with the registration, the posting of an offer/bid/acceptance and offers/listings of products solely to the other participants in the form and to the extent suitable for the execution of the Auction/Tender of Classified Sale. All data produced or transmitted in connection with the execution of the Auction/Tender or Classified Sale at or to Mattress Machinery Mart may be stored, used and transmitted as described in Mattress Machinery Marts Privacy Policy.

Miscellaneous

Should single provisions of these General Terms and Conditions of Trade for Buyers/Sellers be or become fully or partially invalid or unenforceable, the remainder of these General Terms and Conditions of Trade for Buyers/Sellers or independent parts of such provisions shall continue in full force and effect. The same applies in case of an omission.

(Issued 1st August 2006)
Mattress Machinery Mart