2. Orders placed by the Buyer shall not be regarded as accepted until these have been confirmed by LODE by sending the tokenized pick up slip (see Section 4) to the wallet address of the Buyer.
2. The Terms and Conditions of Service shall apply in accordance with the most recent version and to all subsequent transactions without any need of express reference thereto or agreement thereon at the conclusion of such transaction.
THIS CONTRACT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.
4. The Buyer means any person holding AGX and/or AUX Coins regardless whether the AGX and/or AUX Coins were directly purchased from LODE or any third party.
2. Offers and Orders
Terms and Conditions of Service
2. If, as a result of a change of law between the agreement date and the delivery date, additional or increased charges in particular duties, levies and currency compensation payments, shall be payable, LODE shall then have the right to increase the purchase price accordingly. The same shall apply to any fees for examination.
AGX and AUX Coin(s)
1. LODE offers shall not be binding; in particular with reference to quantities, price and delivery time.
Last Updated: September 1, 2022 LODE (Switzerland) AG (“LODE”), Industriestrasse 28, 9100 Herisau, Appenzell Ausserrhoden, Switzerland.
1. General 1. The Terms and Conditions of Service set out below shall form part of the agreement concluded with LODE. The AGX and/or AUX Coin and the material published on LODE’s website is not an offer or the solicitation of an offer to sell or buy any security.
3. Prices and Weight
1. LODE’s prices shall exclude any statutory VAT which shall be payable at the date of delivery or pick up.
3. LODE hereby objects to any counter confirmation, counter offer or other reference by the Buyer to its general terms and conditions; any dissenting terms and conditions of the Buyer shall only apply if LODE has confirmed the same in writing.
3. The purchase price shall be based on the weight as determined at the loading. A customary weight decrease during transport shall be at the risk of the Buyer.
1. By purchasing each AGX and/or AUX Coin, LODE transfers the ownership of one (1) gram of silver or one (1) milligram of gold to the Buyer. The precious metals are usually stored in silver and/or gold bars. If the number of the purchased AGX and/or AUX Coins exceeds the total weight of the silver and/or gold bar in grams, LODE transfers the ownership of the whole bar. If the number of purchased AGX and/or AUX Coins does not exceed the total weight of the bar, LODE transfers the co ownership in the bar. The share of co ownership is determined by the total weight of the bar in integer (a Latin word meaning whole) grams for AGX/Silver and milligrams for AUX/Gold and the amount of AGX and/or AUX Coins purchased, whereas one AGX Coin shall count as one (1) gram of silver and one AUX Coin as one (1) milligram of gold.
2. The AGX and/or AUX Coin does not include any shipping costs for the silver and/or gold and is only representing the right to recover possession or the right to pick up silver and/or gold at the vaulting partners of LODE
4. LODE will make commercially reasonable efforts to provide prior notice of any material freeze or upgrade and inform holders of AGX and/or AUX Coins of the reasons and consequences of such freeze and/or upgrade.
1. LODE will store one unallocated (1) gram of silver on behalf of the Buyer for every AGX Coin and one (1) milligram of pure gold for every AUX Coin sold. Unless otherwise agreed or confirmed by LODE in writing, the quality of the silver and/or gold shall be in accordance with customary trade practice. Minor visual imperfections and tarnish are fine. Silver and gold are sold by weight and measure. Your AGX and/or AUX Coins are similar to a pick up slip and/or warehouse receipt representing your unallocated beneficial ownership of a pro rata portion of the respective silver and/or gold. This means that you, the coin holder, hold all of the economic value of the silver and/or gold represented by your coins, and all of the risk and reward related to ownership of the precious metal.
2. The silver and/or gold will not be handed over to the Buyer. By delivering the AGX and/or AUX Coins to the Buyer, LODE concludes a custodial vaulting contract with the Buyer to safeguard his or her silver and/or gold on his or her behalf.
6. Tokenized pick-up slip
1. For all physical silver and gold sold by LODE, LODE issues a tokenized pick up slip, “AGX Coin” for silver and “AUX Coin” for gold, on public blockchains.
3. As part of the smart contract and as part of the Services, LODE has the ability and the right to freeze and upgrade all AGX and/or AUX Coins (on an aggregate basis), regardless of where the AGX and/or AUX Coins are being held.
4. Custody of the silver and/or gold
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2. LODE’s liability is limited to the selection of a proper vaulting partner, and at all times of the issuance of AGX Coins and AUX Coins, the total number of AGX and/or AUX Coins represents the physical amount of precious metals in grams LODE already holds in custody. LODE only sells precious metals that are already owned by LODE and are already existing in LODE Vaults.
3. In case of insolvency of LODE or a third party custody provider, the Buyer has the right to separate his or her silver and/or gold from the debtor’s assets.
5. Transfer of ownership
7. Transfer of AGX and/or AUX Coins
4. Each holder of AGX and/or AUX Coins shall make these Terms and Conditions of Service of the AGX and/or AUX Coins part of a transfer contract with the recipient of the AGX and/or AUX Coins. If the Buyer fails to make these Terms and Conditions of Service the AGX and/or AUX Coins part of a transfer contract with the recipient of the AGX and/or AUX Coins, the Buyer will hold LODE harmless of all costs and damages that might arise out of this.
2. In order to pick up silver and/or gold, each holder of AGX and/or AUX Coins must create an account on the LODE platform at http://members.lode.one/register or by downloading the LODEapp Wallet and complete the KYC and AML procedure.
3. LODE may assume that the respective holder of the AGX and/or AUX Coin(s) is also the creditor of the right to recover possession or the owner of the silver and/or gold. LODE will therefore also be relieved of any liability by service to an AGX and/or AUX Coin holder who is not a creditor or owner, unless LODE knows that the holder of the AGX and/or AUX Coin(s) is not the creditor or owner.
8. Right to recover possession/pick up 1. Only holders of AGX and/or AUX Coins have the right to recover possession, i.e. the right to pick up the stored silver and/or gold according to their AGX and/or AUX Coin(s) balance. Coin holders must contact LODE (Switzerland) AG (info@lode.one) to redeem their coins, they should not contact the vault companies directly.
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3. The partial transfer of claims under the AGX and/or AUX Coin is not permitted. The transfer of AGX and/or AUX Coins occurs exclusively through the Blockchain where the AGX and/or AUX Coin was issued by LODE. A transfer of the right to pick up silver and/or gold without transferring the AGX and/or AUX Coin is not permitted.
1. The Buyer has the right to transfer the AGX and/or AUX Coins to a third party by transferring the AGX and/or AUX Coins via a transaction on the respective blockchain to a third party.
4. The Buyer understands that if he loses access to the AGX and/or AUX Coin(s) and/or transfers them to a third party he will lose his or her right to recover any silver from LODE. The Buyer understands that working with AGX and/or AUX Coins creates certain risks specific to blockchain technology (in particular loss of private key, compatible wallets, bugs, hacks etc.). The Buyer must take all necessary steps to understand the risk and to handle the AGX and/or AUX Coin(s) properly before buying any silver and/or gold from LODE at all times.
2. Any transfer of AGX and/or AUX Coins is to be construed as the transfer of ownership of the stored silver and/or gold to the recipient of the AGX and/or AUX Coins. Therefore, LODE honors every AGX Coin holder as the legitimate owner of one (1) gram of silver held in custody by LODE and LODE honors every AUX Coin holder as the legitimate owner of one (1) milligram of gold held in custody by LODE.
LODE may charge a “Demurrage Fee” by reducing the value of all AGX and/or AUX Coins on a specific public blockchain. The rate for demurrage can be up to 1% annually of the silver and/or gold amount per AGX and/or AUX Coin, deducted no more than once per day, and no less than once a year. The applicable demurrage rate per blockchain (up to the maximum of 1%) will be determined by LODE.
(1) Demurrage Fee
LODE may charge the following fees for LODE services:
Because LODE deals with physical assets, LODE incurs fees, which are passed on to the customer in the form of a transaction fee when a party sends the AGX and/or AUX Coin(s) from one party to another via an on chain transaction on a public blockchain. In the following two tables, “A” refers to the number of coins transferred in a single transaction, and the fee charged is denominated in the coin being Feestransferred.forAGX Coins: Transaction Amount Fee Charged Maximum Fee for Tier A <= 10 1.0% 0.1 10 < A <= 250 0.1 + 0.4% *(A 10) 1.06 250 < A <= 2500 1.06 + 0.2% *(A 250) 5.56 2500 < A <= 25’000 5.56 + 0.07% * (A 2500) 21.31 25000 < A <= 2’500’000 21.31 + 0.007% * (A 25000) 194.56 Fees for AUX Coins: Transaction Amount Fee Charged Maximum Fee for Tier A <= 100 1.0% 1.0 100 < A <= 2500 1.0 + 0.4% *(A 100) 10.6 2500 < A <= 25000 10.6 + 0.2% *(A 2500) 55.6 25000 < A <= 250000 55.6 + 0.07% * (A 25000) 213.1 250000 < A <= 25000000 213.1 + 0.007% * (A 250000) 1945.6
1. Transaction Fees on Public Blockchains Public blockchains will charge their native platform fees (if the platform has fees). LODE will not receive any of those fees.
9. Fees
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2. Transaction Fees
● Example: 311,200 AGX Coins will cover the Administration Fee and the redemption rate, and the recipient will receive one hundred bars of silver, each weighing 100 troy ounces (10,000 ounces).
● Example: 31,105,400 AUX will cover the Administration Fee, and the redemption rate, and the recipient will receive one thousand troy ounces of gold in large bars (1000 ounces).
Redemptions are only available in multiples of 100 troy ounce bars for AGX Coins (silver) and multiples of 10 troy ounces for AUX Coins (gold). The accepted rate of redemption for physical metals is 3,110 AGX Coins per 100 troy ounce bar of silver for AGX Coin and 31103.4 AUX Coins per 10 troy ounces of gold
will be charged a 200 AGX Coin(s) Administrative Fee for AGX Coin(s) and a 2000 AUX Coin(s) Administrative Fee for AUX Coin(s).
The Demurrage Fee primarily covers the cost of vaulting.
(2) Redemption Schedule and Administration Fee
● Example: 313,034 AUX Coins will cover the Administration Fee, and the redemption rate, and the recipient will receive ten troy ounce gold coins or a single 10 troy ounce bar of gold (10 ounces, and the minimum).
Redemptions will only be accepted for AGX and/or AUX Coins from a customer who has completed their KYC, AML and due diligence processes as described above.
Redemptions may only be done by qualified bullion dealers or qualified individuals. Redemptions have a minimum size of 100 Troy Ounces of silver bullion for AGX Coins and a minimum size of 10 Troy ounces of gold bullion for AUX EachCoins.redemption
5 This is implemented on LODE’s System Ledger (Avalanche) as a negative interest rate gradually reducing the amount of AGX and/or AUX Coins backing the token on the public blockchain that do not support transaction fees.
• Example: There are 10,000,000 AGX Coins set aside in Avalanche to be represented on a public platform. As a consequence,10,000,000 tokens are minted on the public platform to represent them. Demurrage is applied at a rate of 0.00274% per day. Accordingly after one day, 274 AGX Coins will be deducted, by transferring them back to treasury while the number in circulation on the public platform doesn’t change.
● Example: 3,310 AGX Coins will cover the Administration Fee, and the redemption rate, and the recipient will receive one bar of silver, weighing 100 troy ounces (100 ounces, and the minimum).
6. Unless otherwise expressly agreed in writing, any indicated time of delivery or unloading shall be non binding.
10.
11. Duty to Inspection and Objection
2. The selection of the place of dispatch and the transport route and the means of transport shall, in the absence of any written arrangement dictating otherwise, be subject to LODE’s reasonable discretion and be without liability for the cheapest and fastest transport.
Gold/Silver Pick-Up, Shipment and Delivery Fees
8. If any agreed time of delivery or unloading shall be exceeded and there shall be no incident referred to in subsection (7) above, then the Buyer must specify to LODE a reasonable cure period of minimum two weeks. If LODE shall fail to meet such a deadline the Buyer shall have the right to rescind the Agreement but shall have no right to seek compensation for breach of contract or default unless in cases of willful misconduct or gross negligence on LODE’s part.
a) check quantities, weight and packaging and record any objections thereto on the delivery note or consignment note and/or the acknowledgement of receipt/warehouse removal note of the storage, and
b) conduct a quality check representatively on a spot check basis and for such purpose, open the packaging (if applicable) and check all attributes of the silver and/or gold bullion
1. Upon delivery at the agreed destination or not later than upon taking possession, the Buyer shall immediately without undue delay:
4. LODE shall have the right to reasonable delivery in installments.
5. LODE’s delivery obligation shall at all times be subject to timely and orderly access to the silver and/or gold bullion from LODE Vaulting Partners.
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7. Any inability to supply or delay in delivery as a result of force majeure or other unforeseen incidents outside LODE’s responsibility including, without limitation, strike, lock out, acts of public authorities, subsequent cease of export or import opportunities and LODE’s reservation of timely supply from LODE’s own supplies in accordance with subsection (5) above shall, for their duration and in accordance with their impact, relieve LODE from the obligation to comply with any agreed time for delivery and unloading. This shall entitle LODE to also withdraw from the Agreement which shall not result in any compensation claims of the Buyer.
1. Only approved account holders on the LODE Platform (https://members.lode.one) may schedule an appointment for the pick up of silver and/or gold bullion. If the AGX and/or AUX Coin(s) holder chooses to get the silver and/or gold delivered, the holder must pay the shipment costs in advance. The silver and/or gold shall be transported uninsured and, in any event, at the risk of the Buyer. This shall also apply in cases of any delivery free of charge and regardless of which means of transport shall be used. Any transport insurance shall be provided only upon express demand of the Buyer. Any costs arising therefrom shall be at the expense of the Buyer.
3. If the Buyer provides the means of transport, then he or she shall be responsible for its availability on time. LODE shall immediately be informed of any delays. Any costs arising from delays or means of transport shall be at the expense of the Buyer.
a) The notification shall be made by no later than the expiry of the working day on which the delivery of the silver and/or gold bullion to the agreed destination or on which possession of the silver and/or gold bullion has been taken. In the event of an objection to a hidden defect which, despite a first inspection in accordance with subsection (1) above, has remained undiscovered a different deadline regime shall apply. In such a case the objection must be raised within the expiry of the working day on which the defect has been discovered but, in any event, by no later than two weeks after delivery or take over of the silver and/or gold bullion, whichever event occurs earlier.
b) The detailed notice shall be delivered to LODE within the aforementioned deadlines in writing, by telegraph, telex or fax. Any notice by telephone conversation shall not be accepted. Any notice to sales representatives, commission agents or agents shall not be valid.
c) The notice must clearly specify the kind and amount of the alleged defect and include a photo of the defect.
2. In case of a notice of defect, the Buyer shall comply with the following procedures and deadlines:
1. Upon justified objections which shall have been raised in accordance with the procedures and deadlines hereunder, the Buyer shall have the right to claim a reduction in the purchase price which shall be without prejudice to LODE’s right, to provide the return of the objected silver and/or gold bullion.
2. LODE shall be liable in cases of intent or gross negligence on LODE’s part or a representative or vicarious agent, as well as, in cases of culpably caused injury to life, body or health in accordance with the statutory provisions. Otherwise, LODE shall only be liable in accordance with the Product Liability Act, for culpable breach of material contractual obligations or insofar as LODE has fraudulently concealed the defect or has assumed a guarantee for the quality of the delivery item. However, the claim for damages for the culpable violation of essential contractual obligations is limited to the foreseeable damage typical for the contract, unless another of the cases listed in sentence 1 or sentence 2 applies at the same time.
3. LODE does not assume any liability for AGX Coins and/or AUX Coins lost due to user error on the part of the user or third party. The user assumes full responsibility for the management and safekeeping of the coins.
3. No objections with regard to quantities, weight or packaging of the silver and/or gold bullion shall be possible unless a note has been placed on the delivery note or a consignment note or a receipt of acknowledgement in accordance with subparagraph (1) (a) above. Moreover, any right to object shall cease to exist, when the Buyer has mixed, used or resold the silver and/or gold bullion delivered or shall have started its processing.
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12. Warranty and Limitation of Liability
d) The Buyer agrees to make available for inspection the objected silver and/or gold bullion at the place of inspection; such inspection may be done by LODE, LODE suppliers, vaulting partners or any expert LODE may have designated.
4. Any silver and/or gold bullion for which objections shall not have been raised in accordance with the procedures and deadlines set out above shall be regarded as approved and accepted.
5. The Buyer shall have no right to set off, to retention or to reduction unless the underlying counterclaims have been conclusively determined by a court or expressly acknowledged by LODE 14. Retention of Title 1. LODE shall retain full title of the silver and/or gold bullion that has been delivered until the Buyer has discharged all claims arising from the business relationship which shall include any account balance and claims from refinancing or reverse promissory notes.
3. If the invoice amount shall not have been settled within 10 calendar days after the date of invoice or at another due date, then LODE shall without the need for a separate warning notice have the right to recover default interest in a proven amount but in any event an amount equaling 3 (three) percentage points above the base rate of the European Central Bank.
2. LODE shall accept promissory notes and cheques only upon specific arrangement and only in lieu of payment. Any fees for discount bills or promissory notes shall be at the expense of the buyer and immediately payable.
4. If the Buyer’s business shall be operated beyond the ordinary course of business which shall include, without limitation, acts of seizure or a situation where a protest in relation to promissory notes or cheques has been made, payments shall be delayed or even discontinued or judicial or out of court settlement or insolvency proceedings shall have been petitioned or opened or proceedings in accordance with the Insolvency Act or similar regulations shall have been petitioned, LODE shall then have the right to declare all LODE claims arising from the business relationship as immediately due and payable, even if LODE shall have accepted promissory notes or cheques. The same shall apply if the Buyer shall be in payment default towards LODE or other incidents shall surface which give rise to doubts about its creditworthiness. Moreover, LODE may in such event demand prepayments or a security deposit or rescind the Agreement.
2. The Buyer shall have the right to dispose of the silver and/or gold bullion delivered by LODE within the ordinary course of business. The authority granted hereunder shall cease in the cases referred to in § 8 (4) above. Moreover, LODE may withdraw the sales authority of the Buyer through written notice if it shall be in breach of any obligation owed to LODE and shall in particular be in payment default or LODE shall become aware of other incidents that give rise to doubts about its creditworthiness.
8 13. Payment 1. LODE’s purchase price claims are net cash amounts and payable free of any deduction upon receipt of the invoice unless other payment terms have been agreed explicitly.
3. The Buyer’s right to process the silver and/or gold bullion delivered shall also be subject to the limitations set out in subsection (2) above. The Buyer shall not acquire title to the fully or partly processed silver and/or gold bullion; the processing shall be free of charge for LODE’s benefit. If LODE should, for whatever reason, lose LODE’s rights under the retention of title, then it is hereby agreed between LODE and the Buyer that LODE shall acquire title upon processing of the silver and/or gold bullion and the Buyer shall remain custodian of the silver and/or gold bullion which shall be free of charge.
7. Where LODE’s claims shall undoubtedly be secured through the assignment and retention by more than 125%, any surplus of receivables and/or silver and/or gold bullion delivered under retention of title shall, upon demand of the Buyer, be released in accordance with LODE’s choice.
10. If the Buyer shall be in breach of contract, in particular in payment default, then it shall, upon LODE’s demand, immediately return to LODE all silver and/or gold bullion delivered under retention of title and assign to LODE any repossession claims against any third party in conjunction with such silver and/or gold bullion. Any repossession or enforcement proceedings with regard to the silver and/or gold bullion delivered under retention of title shall not be regarded as a rescission of this Agreement.
4. If the silver and/or gold bullion in which LODE has retained title shall be inseparably assembled or mixed with metals that are third party property, LODE shall then acquire co title in the new silver and/or gold bullion or the mixed stock. The proportion of title shall follow from the proportion of the invoice value of the silver and/or gold bullion delivered by LODE under retention of title and the invoice value of the other precious metals.
5. Silver and/or gold bullion in which LODE shall acquire sole or co title in accordance with subsection (3) and (4) shall, the same as with regard to the silver and/or gold bullion delivered under retention of title according to subsection (1) above, be regarded as silver and/or gold bullion delivered under retention of title for the purposes of the following paragraphs.
9. In the event of any third party action against LODE silver and/or gold bullion delivered under retention of title or any receivables assigned to LODE, the Buyer shall notify such party of LODE’s property/right and immediately inform LODE about such action. The Buyer shall bear the costs of any intervention.
6. The Buyer hereby assigns to LODE all claims arising from the resale of the silver and/or gold bullion delivered under retention of title. Such claims shall also include claims against the bank which, within the scope of such sale, shall have issued or confirmed a letter of credit for the benefit of the Buyer (= reseller). LODE hereby accepts such assignments. If the silver and/or gold bullion delivered under retention of title shall be a processed good or a mixed stock, where, in addition to the silver and/or gold bullion delivered by LODE, only such silver and/or gold bullion exists that are either the Buyer’s property or a third party property as a result of a (simple) retention of title, then the Buyer shall assign all of the claim arising from the resale to LODE. In the other case, i.e. in the event of a conflict between pre assignment claims by other suppliers, LODE shall be entitled to receive any resale proceeds on a pro rata basis which shall be determined in proportion to the invoice value of LODE’s silver and/or gold bullion and the other processed or mixed silver and/or gold bullion
8. The Buyer shall be authorized to collect any receivables arising from the resale of silver and/or gold bullion. Such authority shall cease to exist in the event that there shall no longer be an ordinary course of business as defined in § 8 (4) above. Moreover, LODE may withdraw the Buyer’s authority to collect any receivables, if it shall be in breach of any obligation owed to LODE and shall in particular be in payment default or LODE shall become aware of other incidents that give rise to doubts about its creditworthiness. If the above authority shall cease to exist or be withdrawn by LODE, the Buyer shall then upon LODE’s demand immediately specify to LODE its debtors in the claims assigned and provide LODE with all information and documentation necessary for collection.
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The Buyer agrees to return to LODE empties of the same type, amount and value that it shall have received for the purposes of delivery and to bear the applicable shipping costs. All empties shall be returned in a clean state in accordance with applicable laws. If the Buyer shall be unable to return the same at the delivery of LODE, then it shall immediately ensure a settlement of the account of empties (duty to deliver). If the Buyer shall be in default of the duty to settle the account of empties, then LODE may, if a reasonable cure period shall have been specified, refuse the acceptance and demand compensation from the Buyer.
Any dispute, controversy or claim arising out of, or in relation to, the Terms and Conditions of Service, including the validity, invalidity, breach, or termination thereof, shall be resolved by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Chambers' Arbitration Institution in force on the date on which the Notice of Arbitration is submitted in accordance with these Rules. The number of arbitrators shall be three. The seat of the arbitration shall be Zürich, Switzerland. The arbitral proceedings shall be conducted in English. This arbitration agreement only applies to cases where the user or the jurisdiction of the law suite is outside of the European Economic Area (EEA).
15. Empties (packaging or material affects of the bar)
16. Right of Redemption
LODE retains the right to refuse redemption, Buyer’s use of, and access to, AGX and/or AUX Coin(s) and/or the silver and/or gold bullion backing the Buyer’s AGX and/or AUX Coin(s), with or without advance notice, if LODE is required to do so by law, including by court order or other legal process. The precious metals backing the Buyer’s AGX and/or AUX Coin(s) may be subject to seizure or forfeiture by law enforcement, and LODE will comply with the legal process in respect thereof. If LODE determines after investigation that the AGX and/or AUX Coin(s) have been used, or is being used, for illegal (or sanctioned) activity, LODE may not permit the Buyer to redeem its AGX and/or AUX Coin(s), and, if presented for redemption, such AGX and/or AUX Coin(s) and the assets backing such AGX and/or AUX Coin(s) may be forfeited. Any AGX and/or AUX Coin(s) that is subject to freeze, seizure, forfeiture or similar limitation on its use imposed by law may become wholly and permanently unrecoverable and unusable, and in appropriate circumstances, may be destroyed. For the avoidance of doubt: This section applies to all AGX and/or AUX Coin(s) holders, regardless of whether the holder has an account opened with LODE. By using AGX and/or AUX Coin(s), the Buyer agrees that LODE may take the actions set forth in this section and that LODE will not be liable to the Buyer therefore. 17. Arbitration agreement for users outside of the European Economic Area
10 11. In the cases referred to in § 8 (4) above, LODE may require the Buyer to inform LODE about the claims arising from the resale that have been assigned to LODE in accordance with § 9 (6) above including its debtors. Following such information, LODE shall have the right to disclose the assignment as LODE considers appropriate.
Final Provisions
3. The laws of Switzerland shall apply. International purchase laws shall not apply. This shall, in particular, refer to the UN Convention (CISG) on the International Sale of Goods.
4. The invalidity of any provision of these Terms and Conditions of Service shall not affect the validity of the other provisions. Invalid provisions shall be deemed to be replaced by such valid provisions that shall be suitable to implement the economic purpose of the deleted provision to the greatest extent possible. All individual agreements must be in writing.
5. LODE has stored data of the Buyer in accordance with the Swiss Data Protection Act.
11 18.
1. The place of performance for deliveries shall be the respective place of destination.
2. For LODE’s benefit, the courts of Zurich, Switzerland shall have jurisdiction over all disputes arising from this Agreement, except in cases where § 17 applies.