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Conditions of Business

GENERAL

The conditions set out below shall apply to all sales and deliveries made by Sovereign Rarities Ltd (the "Company") and any deposits of goods with the Company to the exclusion of all other terms and conditions.

PAYMENT

Goods shall be paid for in full in accordance with the terms as set out in the sales invoice, but in any event within 28 days from the date of invoice. Without prejudice to its other rights, the Company reserves the right to charge interest at 5 per cent over the UK base rate ruling at the time of invoicing.

TITLE

The title of all goods sold by the Company shall remain with the Company until payment has been made in full by the customer to the Company. Any money received by the customer from any resale of goods shall be held on trust by the customer to pay the Company.

OTHER GOODS HELD BY THE COMPANY

If any invoice shall be outstanding for a period greater than 3 months from the date of invoice, the Company shall have the right to sell any goods belonging to the customer and held by the Company for any reason at such price as the Company shall at its absolute discretion think fit.

RISK

Any loss and/or damage to the goods passes to the customer upon collection from the Company's premises by or on behalf of the customer or delivery to any address requested by the customer, whichever is earlier. The Company shall insure the goods until the collection or delivery as aforesaid.

"SALE OR RETURN" GOODS

For all goods held by the Company on a "sale or return" basis the customer must advise the Company within sixty days from the time of delivery whether or not it decides to purchase goods. The goods must either be paid for in full or returned to the Company immediately upon the customer making the decision. If after the sixty day period the customer fails to make the decision it shall be deemed to have elected not to purchase the goods and must immediately return them to the Company and the customer shall bear the costs involved in returning them to the Company. The customer shall at all times keep the "sale or return" goods fully insured while in their possession.

WARRANTY

The customer must examine all goods upon receipt from the Company and must notify the Company within seven days of receipt of any damage to, or items missing from, the goods. The Company will not consider any claim not so notified by the customer. If the Company has given any written representations as to the origin of goods and that is subsequently established to be inaccurate in any material respect the Company will refund the purchase price to the customer. Under no circumstances will the Company be liable for any additional costs, expenses, damage or loss of any kind of profit.

VARIATION

A variation to the conditions will only be binding on the Company if it is made in writing and duly signed by and authorised officer of the Company.

JURISDICTION AND LAW

The conditions shall be governed by English law and any dispute which may arise out of and in connection with any business transacted with the Company shall be with in the exclusive jurisdiction of the English courts.