General Terms and Conditions

for Feri EuroRating Services AG, (hereafter referred to as "Feri") for openly contracted services, especially analyses, appraisals and other services performed.

1. Areas of Applicability

The following business terms and conditions apply exclusively for all Feri services performed for its clients, unless individually contracted regulations specify otherwise. Whenever any of Feri's services are availed of, Feri's terms and conditions are considered acknowledged and agreed to, unless the client expressly disputes their applicability when those services are contracted. The client's terms and conditions have no legal efficacy. Any potential mandatory legal stipulations contained in German federal law apply to the effective inclusion and enforcement of these terms and conditions.

2. General Considerations

2.1   Feri performs services by creating and making available analyses, appraisals and other products for financial instruments and investments of all kinds, such as investment funds, real estate, insurance products, and foreign currencies (hereafter also known as "analyses, appraisals, and other products").
2.2   Additional agreements, affirmations, or other such clarifications made by employees of Feri or by its subcontracted experts are only binding if they are expressly confirmed by Feri in writing. This also applies to any alterations of this clause.

3. Scope and Execution of Services

3.1   Any contracted analyses, appraisals, and other products made in connection with or by Feri which clients avail themselves of, either a) by means of a contractual license or b) by online access, are created according to accepted technological standards and with industry normative diligence and accuracy, so long as no arrangements to the contrary are agreed to in writing.
3.2   If a client awards a contract expressly requesting the creation of an analysis, appraisal, or other product, the scope of Feri's work will be established in writing in the contract award. If changes or expansions of the established contract scope arise in the normal execution of the contract, these changes are to be additionally agreed to in advance in writing. In such a case, the client retains the right to withdraw from the contract, if his maintaining the agreement can no longer be expected in light of the changes and expansions. However, the client must pay the agreed reimbursement or, if there is no agreement, a prorated amount for services performed.