WARRANTY TERMS

1.1 If the sold item does not function as intended, the buyer must notify Hýsi – Verkheimar ehf., hereinafter referred to as the seller, immediately. Furthermore, the buyer must take the necessary precautions in order to minimize damage.

1.2 The manufacturer of the sold item and the seller undertake to repair all defects that become apparent within twelve months of delivery free of charge, unless otherwise agreed or stipulated by Icelandic law on the purchase of movable property. These obligations shall lapse if:

{The buyer has repaired the sold item without the manufacturer’s prior written consent.

{The defect arises because the buyer’s use of the goods sold is not in accordance with the manufacturer’s normal use and/or description requirements or if equipment not supplied by the seller has been connected to the goods sold.

{Repairs and maintenance of the sold item have been carried out by someone other than the manufacturer or its representative. This provision does not apply if the manufacturer or its representative has authorised the repair.

{The defect arises from reasons relating to the buyer or a third party for whom the buyer is responsible.

2.0 The manufacturer of the item sold, or its representative, will, as soon as possible, remedy the defects identified above. Remedies may take the form of repairing the defect or providing a new item if the defect cannot be repaired.

3.0 The manufacturer or its representative is not liable for any damages incurred by the buyer due to the time it takes to repair or provide a new part, including loss of profit.

4.0 A defect for which the seller or manufacturer is responsible and which causes the sold goods not to be put into use in part or in whole entitles the buyer to a proportional discount or authorises him to rescind the contract if the non-compliance is significant. Claims in this regard must be made by the buyer within one year of the defect being discovered. The buyer’s right under this article is also subject to the fact that he has notified the seller on behalf of the manufacturer in writing of the defect and the seller/manufacturer has not rectified the defect within a reasonable period of time from that time.

5.0 Defects that the manufacturer is not obligated to resolve and that are stated in Article 1.2 may be resolved by the seller/manufacturer of the sold item upon further agreement and at the applicable service rates.

6.0 The liability of the parties to this agreement for damages is subject to their having shown significant negligence or gross negligence.

7.0 The liability for damages of the parties to the agreement is also limited to ISK. 500.000,00. The joint amount of the claims for damages is taken into account if there is more than one. The liability of the contracting parties for damages does not extend to consequential damages such as operating losses, lost profits or savings, lost data or other indirect damages or claims of third parties against the contracting parties.