General Terms of Trade

Draft for review — please have these terms checked by your legal adviser before publishing.

1. Application

These terms apply to all offers, order confirmations and sales contracts issued by Zahi Steel, unless a signed sales contract states otherwise. Where a contract and these terms conflict, the signed contract prevails.

2. Offers & prices

Offers are valid for the period stated on the offer, and are subject to mill confirmation and availability. Prices are quoted in USD unless stated otherwise, on the Incoterms® 2020 rule stated (FOB, CFR or CIF).

3. Quality & tolerances

Material is supplied to the standard and grade named in the contract. Dimensional tolerances, chemical composition and mechanical properties follow that standard unless tighter limits are agreed in writing. Quantity tolerance is ±10% per item unless stated otherwise.

4. Payment

Payment is by irrevocable documentary letter of credit at sight or by telegraphic transfer (TT), as stated in the contract. Title passes to the buyer on receipt of full payment.

5. Shipment & risk

Shipment periods are estimates based on mill production schedules and vessel availability. Risk passes in accordance with the agreed Incoterms® rule.

6. Inspection & claims

Third-party pre-shipment inspection may be arranged at the buyer's request and cost. Quality claims must be notified in writing within 30 days of arrival at the discharge port, with supporting photographs and an independent survey report where applicable. Material subject to a claim must be kept unprocessed and available for inspection.

7. Compliance

Both parties shall comply with applicable sanctions, export control, anti-bribery and anti-money-laundering laws. Zahi Steel may require know-your-customer (KYC) information before contracting and may suspend performance where compliance concerns arise.

8. Force majeure

Neither party is liable for delay or failure caused by events beyond its reasonable control, including mill stoppages, port closures, war, sanctions, epidemics and natural disasters.

9. Governing law

These terms are governed by the laws of the United Arab Emirates. Disputes shall be referred to the competent courts or arbitration centre named in the sales contract.