TERMS

  Stad Amsterdam
8.3 The Client shall provide for the effective settlement of the amount due by it, in such currency as stipulated in the Agreement, to the Offerer within such term as stipulated in the Agreement, without any discount, deduction or settlement. The payment date shall be defined as the date of effective receipt by the Offerer of the amount owed by the Client.

8.4 In the event of a dispute arising on settlement concerning the amount to be paid by the Client or if the determination of such amount requires a non-urgent calculation to be made, the Client shall be under an obligation to effect the immediate settlement of such portion of the amount as the Offerer and the Client agree is owed by the latter, on provision of adequate security in respect of the payment of the portion of the amount being contested by the Client or not yet having been definitively calculated.

8.5 The Offerer shall be entitled up to 20 (in words: twenty) days ahead of the start of the Boating Trip to increase the Price in connection with drastic changes to the costs required for the performance of the Boating Trip. In this case the Client shall be entitled within 10 (in words: ten) days of receipt of the Offerer's notification of the increase in the Price to have the Agreement dissolved.

8.6 In the event of failure on the part of the Client within the preset term of payment to satisfy its obligations vis-a-vis the Offerer, the Client shall he legally in default without there being a need to provide for the service of a notice of default. The Client shall then be liable for payment of interest for overdue payment in the amount of two (2) percent of the amount owed per month or part thereof, from the date on which it first defaulted until such date as full pavement has been made.

8.7 All costs of collection of the amount owed by the Client both in a court of law and otherwise shall be for the Client's account.


Article 9 Complaints

9.1 Complaints concerning invoices shall be required to be submitted to the Offerer within no more than 14 (in words: fourteen) days of the invoice date.

9.2 The Client shall be under an obligation immediately (while sailing) to communicate to the Offerer and/or the captain of the Vessel any complaints concerning the execution of the Agreement so as to enable the Offerer and/or the captain of the Vessel to implement measures aimed at rectifying any such complaints as are justified.

Article 10 Dissolution by the Client

 10.1 In the event of the Client having the Agreement dissolved, the following percentages of the Price shall be due:

Following booking:    15%
6 - 5 months    2 0%
5 - 4 months    30%
4 - 3 months    40%
3 - 2 months    50%
2 months- 1 month    75%
1 month - 1 day    90%
Following departure:    100%

10.2 Dissolution of the Agreement shall in any event be effected in writing, with the date of receipt of the Offerer's notification of dissolution being regarded as the date of dissolution.

Article 11    Eligibility, Security in Respect of and
    Dissolution by the Offerer

11. 1 In the event of the Client:

(a)  voluntarily filing a request for bankruptcy or being
    declared bankrupt, filing a request to be granted
    (temporary) moratorium of payment or requesting
    application of the debt rescheduling arrangement as
    per Part III of the Netherlands Bankruptcy Act, or
    being placed under tutelage; or
(b)  defaulting vis-a-vis the Offerer as defined in article
    8(6) herein before,

all amounts owed by the Client to the Offerer shall become immediately payable.

11.2 The Offerer shall be entitled in such cases as set out in the preceding paragraph, without being subject to any obligation to pay compensation and without prejudice to its other rights, and without there being any need to provide for the service of a notice of default or for intervention by the courts:

(a)  prior to proceeding with the execution of the
    Agreement, to demand that the Client provide ade-
    quate security in respect of the latter's (timely) com-
    pliance with its payment obligations;
(b)  to demand instant payment in full of any such
    amounts as are owed to the Offerer by the Client;
(c)  to have the Agreement declared dissolved, either in
    whole or in part, by means of a written notification
    to that effect to the Client.

11.3 In the event of the Offerer proceeding with dissolution, the Client shall owe by way of fixed loss the Price or the higher amount of the actual loss.

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