The contract language is German. German law shall apply exclusively. The German version of these terms is authoritative. The English version is for information purposes only.

I. Seller; Scope of Application
II. Order (Purchase)
III. Processing of Purchase Orders / Individual Purchase and Regular Purchase of Tangible Assets
IV. Storage of Tangible Assets, Storage Fees
V. Termination of Storage, Sale of Tangible Assets by the Customer
VI. Risk Disclosures and Liability
VII. Right of Withdrawal
VIII. Limitation of Liability and Claims for Damages
IX. Data Protection Declaration / Consent to the Processing and Use of Data
X. Customer's Duties to Cooperate and Exercise Due Care, Assignment
XI. Final Provisions

I. Seller; Scope of Application
(1) The contractual partner and operator of the online tangible assets depot is: Granvalora GmbH (hereinafter "Granvalora"), Im Dachsstück 9, 65549 Limburg, VAT identification number: DE306376982, e-mail: support@granvalora.de, website: www.granvalora.de.
(2) All deliveries, services and offers by Granvalora in the areas of precious metals, diamonds, technology metals and rare earths (hereinafter "tangible assets"), as well as their storage and administration, shall be made exclusively on the basis of these General Terms and Conditions (hereinafter "GTC"). These GTC form the basis of the respective order with Granvalora, even if this order was concluded via the so-called online tangible assets depot of Granvalora or otherwise by way of distance selling or electronic commerce. These GTC apply to the entire business relationship between Granvalora and consumers and entrepreneurs (hereinafter "Customer"). The Customer's general terms and conditions shall not apply. This shall also apply if Granvalora has not expressly objected to their applicability in an individual case or has referred to a document containing the Customer's general terms and conditions.
(3) On the basis of statutory provisions (in particular the Money Laundering Act and the Fiscal Code), Granvalora may in certain cases be obliged to identify the contractual partner and any beneficial owner. In this case, you are legally obliged to cooperate, in particular by presenting official identification documents and, if necessary, further required information and documents; any changes arising in the course of the business relationship must be notified without delay. Irrespective of statutory provisions, Granvalora generally reserves the right to verify the identity of Customers for security reasons.

II. Order (Purchase)
(1) Granvalora offers its Customers the purchase of tangible assets at the offers and prices contained on the website (www.granvalora.de), in brochures, advertisements and other advertising materials of Granvalora. These are non-binding and without obligation, unless expressly marked as binding. In this respect, the so-called purchase order form of Granvalora or the product presentation in the online tangible assets depot of Granvalora likewise does not yet constitute a binding offer to sell. The offer to conclude a purchase order and, if applicable, a storage contract is made by the Customer, either by completing and signing the purchase order form in full, or by the Customer clicking the button "Placing a binding order" after completing the order page in full. We are entitled to process this order within two business days and, in particular, to accept it in accordance with the following paragraph (2) so that the order becomes binding. We reserve the right to reject orders, in particular from Customers who have proven to be in default of payment or otherwise unreliable in previous orders. Individual amendments to these GTC are not possible.
(2) The Customer purchases the tangible assets from Granvalora, specifying and observing the respective (minimum) quantities and denominations. By submitting the order (so-called purchase order) or, for online orders, after completing the order page in full and clicking the button "Placing a binding order", the Customer offers Granvalora the conclusion of the order. This shall only come into effect when Granvalora expressly confirms the purchase with an execution confirmation in text form. With this execution confirmation, the current tangible asset prices of the trading day are not guaranteed and not contractually agreed, but only upon execution and acquisition of the tangible assets (see III. clause 5). The execution confirmation also serves as proof of the order content. In the case of an internet-based purchase, the automatically generated e-mail sent immediately upon receipt is neither a declaration of acceptance nor a conclusion of the order.

III. Processing of Purchase Orders / Individual Purchase and Regular Purchase of Tangible Assets
(1) The order (acquisition of the tangible assets) shall only be executed by Granvalora once the purchase price and any agreed fees have been paid.

With each purchase price payment by the Customer, the Customer instructs Granvalora to acquire the tangible assets selected by the Customer in physical form from recognised and certified commodity wholesalers, mints, refineries, producers and/or precious metal dealers, subject to market availability, tradeability, deliverability and procurability, for the purpose of subsequent allocation to the Customer.

Precious metal bars are generally purchased in standard banking quality with a fineness of at least 999/1000, unless different specifications are provided for in the respective offer or order.

Granvalora is entitled to acquire and allocate such qualities, purities, forms, denominations and specifications as comply with the provisions of clause III. (2).

Until the acquisition process, the allocation to the account and the acquisition of ownership or co-ownership have actually been carried out, the Customer's purchase price payment does not yet establish any acquisition of ownership of specific tangible assets.

Granvalora is entitled to execute the purchase orders of several Customers collectively and to combine acquisition processes according to economic, technical, market-related or logistical criteria.
(2) The purities, qualities and specifications of the respective tangible assets stated in the purchase and storage contract serve to describe the subject matter of the contract and may be subject to market-related fluctuations. Insofar as minimum values are stated (e.g. "at least 99%"), Granvalora is entitled to deliver or allocate such qualities and specifications as:
a) meet or exceed the stated minimum values,
b) are internationally customary and available on the market at the respective time of procurement, and
c) correspond to the requirements and demand conditions customary in the industry.
Market-related adjustments to the purities or specifications are permissible within the framework of the foregoing provisions, insofar as they are economically equivalent for the Customer.
(3) The Customer specifies the desired tangible assets on the purchase order form or, for an online purchase order, in their customer area. Individual payments without a savings plan are possible from EUR 500. If the Customer instructs Granvalora to make regular tangible asset purchases, the purchase price shall be paid in monthly amounts, the minimum amount being EUR 25 per month. The amount (or the percentage weighting) of the regular purchase amount per tangible asset is chosen by the Customer on the purchase order form or, for an online purchase order, in their customer area.

If the Customer has instructed the dynamic adjustment of their savings rate, this shall be carried out for the first time 12 months after the first savings rate. Subsequently, the savings rate shall be adjusted every 12 months. The increase shall be in the amount of the percentage specified in the purchase order and shall relate to the respective current savings rate. The Customer shall be informed of the planned adjustment four weeks before each adjustment. If a direct debit authorisation has been granted, revocation is possible up to 14 days before the direct debit date. The Customer may instruct a change in the amount of the adjustments or a final termination at any time with 14 days' notice.
(4) Additional payments from EUR 25 are possible at any time for all orders. A transfer to Granvalora's account, stating the name and the respective order number, is sufficient. Furthermore, the order for the purchase of tangible assets is not subject to any fixed term. Individual purchases are generally executed once a week, regularly on Fridays. For regular tangible asset purchases (savings plans), the Customer instructs Granvalora to carry out recurring purchase orders. The minimum amount for regular purchase orders is EUR 25 per month. The amount and the percentage weighting of the respective tangible assets are determined by the Customer on the purchase order form or in the customer area. The execution of the purchase orders generally takes place twice a month, regularly on the 1st and the 15th of a month, in each case on the designated trading day. If a trading day falls on a public holiday or if trading is not possible for other reasons, execution shall take place on the next possible trading day. The execution of all purchase orders is subject to sufficient market availability, tradeability, deliverability and procurability of the respective tangible assets. Granvalora is entitled to postpone, combine or temporarily suspend executions for material, technical, market-related or logistical reasons. The Customer shall be informed thereof in good time and their interests shall be adequately taken into account. If a new delivery date is not acceptable to the Customer or the tangible assets are not available by then, both contracting parties shall be entitled to withdraw from the contract against this background; any consideration already rendered shall be refunded without delay.
(5) For the tangible asset purchase, all incoming or debited payments that could be posted on the day before the respective trading day shall be taken into account. Funds transferred by the Customer to Granvalora shall remain without interest. The prices valid on the day of execution (subject to the conditions of the purchase price payment under III. clause 1) shall be deemed agreed. For orientation, price lists are published daily at www.granvalora.de. These are based on the current precious metal prices from Heraeus at 12 noon for processed products of the respective trading day, plus any applicable premium. If premiums are charged, these may be adjusted at the beginning of each quarter. The purchase amount corresponds to the deposit amount less the agreed fees. The prices shown in the offers and price quotations are generally inclusive of the respective applicable statutory taxes. Should the statutory framework conditions, in particular tax or customs regulations, change after conclusion of the contract and thereby give rise to additional taxes or duties on the acquisition of the tangible assets, or cause previous tax exemptions to cease to apply, Granvalora shall be entitled to pass these on to the Customer subsequently in the amount legally owed.
(6) A setup fee may be charged for the establishment of savings plans. In this case, 70% of all incoming payments shall first be used to cover the setup fee. Amounts exceeding this shall be used for the purchase of tangible assets. A refund of the setup fee is not provided for, even in the event of termination of the order. In the event of increases in the savings rates, the agreed setup fee shall also become due on the increase amount.
(7) Granvalora is only obliged to execute orders for the purchase of tangible assets insofar as the respective tangible assets are marketable, tradeable and procurable and the Customer has provided sufficient purchase amounts to carry out the acquisition process. Granvalora's delivery obligation is limited to the goods deliverable and available from its suppliers ("limited generic obligation"). If a tangible asset is temporarily not procurable or tradeable in a market-customary quality in accordance with the provisions of clause III. (2), the relevant purchase order shall be suspended until it becomes available again. The corresponding sums of money shall be held without interest until execution. During this period, the Customer may:
a) request the continued holding of the purchase amount,
b) request the repayment of the purchase amount not yet executed, or
c) issue a new instruction.
If a particular quality, specification, form, denomination or design of a tangible asset is permanently no longer marketable or procurable, Granvalora is entitled to acquire and allocate an economically equivalent and internationally market-customary quality, specification, form or denomination of the same tangible asset in accordance with clause III. (2). The interests of the Customer shall be adequately taken into account in this regard. Granvalora is entitled to withdraw from the order if:
– there is a permanent unavailability or unprocurability of the respective tangible asset,
– a significant or permanent market disruption,
– an official restriction,
– an embargo,
– a trade ban,
– a suspension of trading,
– the loss of marketability,
– unexpectedly high procurement or storage difficulties,
or comparable circumstances exist. Granvalora shall inform the Customer without delay of the non-execution, suspension or withdrawal. In the event of withdrawal, purchase amounts not yet used shall be refunded without delay.
(8) Only after successful completion of the respective acquisition process shall the acquired tangible assets be credited to the Customer's account by weight and value. The posting may also comprise fractions of units of weight. The weight and value of the tangible assets shall be stated to at least six decimal places and can be viewed by the Customer at any time in the customer area.
(9) Ownership of the acquired tangible assets shall pass to the Customer only upon successful completion of the respective acquisition process, allocation to the Customer's holdings on the account, and full payment of the purchase price. Prior to completion of the acquisition process, the Customer shall merely have a contractual claim to execution of the respective purchase order. A physical handover of the tangible assets is not required for the transfer of ownership.

IV. Storage of Tangible Assets, Storage Fees
(1) The Customer instructs Granvalora to have the tangible assets acquired or delivered by the Customer delivered to and stored in a warehouse suitable for the respective tangible asset. Storage is carried out by one or more third parties commissioned by Granvalora (hereinafter "storage facility"). Storage may take place in several storage facilities in different countries. The selection is made at the dutiful discretion of Granvalora, taking into account security, availability and economic conditions. The respective current storage location is displayed to the Customer in the customer portal or communicated in text form upon request. Granvalora is entitled to change the storage facility, storage location and/or form of storage, provided this is reasonable for the Customer and the essential features of storage – in particular security, market-customary insurance and segregation from the assets of the storage facility – are maintained. Direct delivery of tangible assets to the Customer is only possible under the conditions set out in V. clause (4). Storage is carried out by the storage facility in Granvalora's own name for the account of the Customers. No contractual relationships are established between the Customer and the respective storage facility.
(2) Unless otherwise stipulated by delivery list or separate agreement, the Customer consents to collective custody. Storage takes place in the form of a collective holding (so-called commingled depot), in which tangible assets of the same kind are stored together according to type, condition and quality and may be physically mixed with the holdings of other Customers. The Customer acquires co-ownership of the tangible assets in fractions, unless they acquire a complete container. Within the framework of collective custody, the Customer acquires an arithmetically determined co-ownership share in the total holding of the respective tangible asset (so-called fluctuating co-ownership). This is determined according to the quantity posted for the Customer in relation to the total holding. There is no claim to the surrender of individually determined items. Granvalora is entitled to provide tangible assets of the same kind and equal value of the same genus to satisfy claims for surrender. Restrictions on disposal arise in particular from the fact that the Customer may only dispose of their co-ownership share, but not of individual specific components. In all other respects, the provisions of §§ 741 et seq. BGB and §§ 1008 to 1011 BGB shall apply accordingly. If the Customer is the owner of complete containers, the provisions on physical delivery in accordance with section V. clause (4) shall apply accordingly. Granvalora is entitled to replace the Customer's co-ownership share with an equivalent co-ownership share in another holding of the same tangible asset, insofar as this is economically necessary. In this respect, Granvalora is released from the restrictions of § 181 BGB.
(3) Granvalora ensures that the tangible assets allocated to the Customers are physically present at all times in the corresponding amount and that a clear, traceable arithmetical allocation of the respective co-ownership shares is guaranteed at all times.
(4) Granvalora may not lend, transfer by way of security, pledge, encumber or otherwise dispose of its Customers' tangible asset holdings.
(5) Granvalora charges a storage fee for the storage of the tangible assets. The amount of the storage fee and any other costs are set out in Granvalora's applicable schedule of fees. The storage fee is calculated on a daily basis in relation to the total stored inventory. In the event of a sale or withdrawal of the inventory during the year, the storage fee shall accrue on a pro rata basis. The storage fee is due annually in arrears upon corresponding invoicing. It can be settled by SEPA direct debit, by bank transfer or by the sale of tangible assets (proportionally in accordance with the shares held). If the Customer is more than 30 days in arrears with the payment of the storage fees, Granvalora is entitled to sell a proportionate amount of the Customer's tangible assets at the current market price to cover the storage fees.
(6) The Customer shall receive a storage inventory statement once per month; Granvalora is entitled to provide this electronically by e-mail or in the customer account. If no objection is raised with Granvalora within one month, the inventory shall be deemed confirmed by the Customer.
(7) Granvalora undertakes to appoint a funds utilisation auditor who shall determine at least once a year whether the tangible assets acquired by the Customer have been physically stored and are present. The funds utilisation audit may only be carried out by auditors, tax advisors, lawyers or corresponding firms. The Customer acknowledges that any claims for damages of their own against the funds utilisation auditor are limited in amount in the same way as any claims for damages by Granvalora against the funds utilisation auditor. When agreeing a limitation of liability with the funds utilisation auditor, Granvalora shall be guided by the industry standard. In the event of Granvalora's insolvency, the Customer shall have a right of segregation pursuant to § 47 of the German Insolvency Code.

V. Termination of Storage, Sale of Tangible Assets by the Customer
(1) The storage of the tangible assets is generally for an indefinite period.
(2) The Customer may terminate or end the storage of the tangible assets at any time without observing a notice period by:
a) transferring the tangible assets to other Customers of Granvalora and notifying Granvalora of this transfer in writing,
b) instructing Granvalora to physically deliver to the Customer in accordance with the following provisions and conditions under clause (4),
c) selling the tangible assets. The Customer is the owner of the tangible assets acquired by them and may sell these independently at any time. There is no right to a sale or cash settlement vis-à-vis Granvalora.
(3) Termination of the storage contract by Granvalora may only be for good cause. The termination must be in writing. Good cause in this sense exists in particular if Granvalora's own storage premises are terminated and no suitable replacement storage premises can be procured, or if the continuation of the storage contract becomes impossible or unreasonable due to a change in legal provisions or structural changes to the storage organisation.
(4) The Customer may at any time, at their own expense, demand the surrender of their stored commodities. The modalities of surrender (collection or delivery) shall be agreed separately between the parties.
The Customer may only demand physical delivery of fractional ownership insofar as the value of the accounting units allocated to them corresponds to the value of complete containers or bars or diamonds at the time of termination. The Customer may top up incomplete containers by making an additional payment. If an additional payment is required in order to carry out a delivery, Granvalora shall inform the Customer of the required additional payment amount. The place of delivery for the containers or bars or diamonds is the respective storage location. All costs associated with the delivery, such as any applicable taxes, customs duties, transport costs, shipping costs, insurance or other charges, shall be borne by the Customer. Claims for surrender shall be asserted exclusively against Granvalora; direct recourse to the respective storage facility is excluded.

The Customer has no right to receive bars, diamonds or containers in specific sizes or denominations or from a specific manufacturer. The delivery of tangible assets is at the Customer's risk. The period for physical delivery shall be a maximum of 4 weeks from receipt of the Customer's termination by Granvalora. The fees payable for delivery or collection are set out in Granvalora's applicable schedule of fees. These must be settled by the Customer before the delivery is carried out. Any taxes attributable to the tangible assets themselves, in particular import VAT, are not included therein. This also applies to such taxes or duties as arise due to subsequent changes in the legal framework conditions.
(5) Granvalora is not obliged to purchase the Customer's tangible assets or to actively participate in the sale of the tangible assets by the Customer. However, Granvalora supports Customers in the resale of the tangible assets to industry, metal dealers, other Customers of Granvalora or other buyers.
(6) Granvalora points out that the tax treatment of the sale of tangible assets falls within the Customer's area of responsibility. It is the Customer's own responsibility to clarify the question of whether a taxable event is realised or triggered for the Customer by the disposal. The Customer may themselves be subject to reporting and payment obligations to the tax authorities. Granvalora cannot offer any tax advice in this regard and refers to the tax advisory professions.
(7) The Customer has been informed that they must pay the respective VAT of the country of destination. Furthermore, the statutory requirements of the respective countries of destination must be observed.

VI. Risk Disclosures and Liability
(1) Granvalora and its intermediaries do not offer the Customer any advice regarding the purchase or sale of tangible assets. The Customer is responsible for any purchase decision themselves. Granvalora cannot and will not provide the Customer with binding information on price developments, tradeability, market developments or similar economic forecasts regarding the tangible assets.
(2) The tangible assets may be subject to significant price fluctuations (so-called volatility), which may be based on various unforeseeable developments. There is therefore the possibility that the tangible assets can only be resold at a loss. Granvalora assumes no warranty whatsoever for future positive market price developments for the tangible assets and is not liable for the Customer's losses. In addition, there is a risk of currency losses if the tangible assets are traded in foreign currencies.
(3) There is also the risk that trading in the respective tangible assets may come to a complete standstill and the Customer may not be able to sell their tangible assets. Granvalora assumes no warranty, guarantee or assurance that the Customer will be able to resell their tangible assets, and shall not be liable for any losses arising therefrom.
(4) Granvalora trades in tangible assets. Granvalora and its intermediaries do not provide any financial services in this regard, do not carry out investment advice and do not act as asset managers.
(5) The tax treatment of tangible assets is subject to the respective applicable statutory provisions and may change at any time. Granvalora assumes no warranty for any particular tax treatment. The Customer is responsible for clarifying their individual tax situation themselves and should consult a tax advisor for this purpose.
(6) In accordance with the provisions of these GTC, the Customer acquires ownership or fractional co-ownership of the tangible assets acquired and allocated to their account. The tangible assets are physically held in custody and are, in the event of Granvalora's insolvency, generally protected by a right of segregation. Specifically, this means that in the event of Granvalora's insolvency, the Customer may demand the surrender of the tangible assets allocated to them or of their corresponding co-ownership share. However, it cannot be guaranteed that an insolvency administrator will support the Customer in disposing of the tangible assets or enable a continuation of the existing storage structure.

VII. Right of Withdrawal
(1) The Customer's right of withdrawal is excluded pursuant to § 312g para. 2 no. 8 BGB for the purchase of tangible assets, insofar as the price of the respective tangible assets depends on fluctuations in the financial market over which Granvalora has no influence and which may occur within the withdrawal period. For this reason, pursuant to the statutory exception provision (§ 312g para. 2 no. 8 BGB), consumers also have no right of withdrawal for distance contracts. The Customer's order therefore becomes immediately binding and cannot be revoked by the Customer.
(2) If the Customer enters into a storage contract for the tangible assets delivered by them, the Customer shall have the statutory right of withdrawal for the storage contract. Paragraph 1 (no right of withdrawal for the purchase of tangible assets) shall remain unaffected. In the event of withdrawal, the Customer must state how any goods already purchased and stored are to be dealt with. The provisions in clause V must be observed. Insofar as a statutory right of withdrawal exists for the acquisition of tangible assets, the statutory provisions on reversal shall apply in the event of withdrawal. In this case, Granvalora is entitled to sell tangible assets already acquired at the current market price or to deliver them to the Customer; any changes in value between acquisition and withdrawal shall be to the Customer's detriment or benefit.

Cancellation Policy / Right of Withdrawal
You have the right to withdraw from the storage contract (hereinafter: Contract) within 14 days without giving any reasons. The withdrawal period is fourteen days from the date of conclusion of the contract.
To exercise your right of withdrawal, you must inform us, Granvalora GmbH, Im Dachsstück 9, 65549 Limburg, Tel. +49 (6431) 49589-80, e-mail: support@granvalora.de, by means of a clear declaration (e.g. a letter sent by post or e-mail) of your decision to withdraw from this contract. To meet the withdrawal deadline, it is sufficient for you to send the notification of the exercise of the right of withdrawal before the expiry of the deadline.

Consequences of Withdrawal
If you withdraw from this contract, we shall reimburse to you all payments received from you, including delivery costs (with the exception of the supplementary costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and at the latest within fourteen days from the day on which we received the notification of your withdrawal from this contract. For this reimbursement, we shall use the same means of payment that you used for the original transaction, unless expressly agreed otherwise with you; in no event shall we charge you any fees for this reimbursement. If you have requested that the service should begin during the withdrawal period, you shall pay us a reasonable amount corresponding to the proportion of the services already provided up to the point at which you inform us of the exercise of the right of withdrawal in respect of this contract, compared to the total scope of the services provided for in the contract.

VIII. Limitation of Liability and Claims for Damages
(1) For damages due to injury to life, body or health, in the case of fraudulent concealment of defects, for claims under the German Product Liability Act, in the case of intent or gross negligence by Granvalora, a legal representative or vicarious agent, as well as for damages falling under a guarantee, assurance or procurement risk assumed by Granvalora, Granvalora shall be liable without limitation in accordance with the statutory provisions. For damages not falling under sentence 1, Granvalora shall only be liable in the case of slight negligence for compensation of the damages typical of the contract and foreseeable, and only insofar as an obligation whose proper fulfilment is essential to the performance of this order and on the observance of which the contractual partner could rely (cardinal obligation) has been breached by Granvalora, a legal representative or vicarious agent. Otherwise, liability is excluded to the extent permitted by law. It is incumbent on the Customer to notify Granvalora without delay of any defects, disruptions or damages that occur.
(2) Granvalora shall not be liable for damages based on causes that are not within Granvalora's area of responsibility. This applies in particular to damages caused by disruptions to lines, servers and other facilities that are not subject to Granvalora's area of responsibility.
(3) If the Customer uses Granvalora's internet services, Granvalora shall not be liable for malfunctions of the internet, the fault of technical service providers or the delayed updating of data available online. Before making a purchase, the Customer should therefore always seek personal contact with Granvalora's employees.
(4) If Granvalora is required to pay compensation for the complete or partial loss of the goods, the value at the place and time of acceptance for storage shall be compensated.

IX. Data Protection Declaration / Consent to the Processing and Use of Data
Granvalora attaches great importance to the protection of the Customer's personal data. Compliance with the statutory provisions on data protection and data security is a matter of course for Granvalora. Granvalora processes and uses the personal data from this order only for the purposes of processing, customer care, market and opinion research, and for its own advertising activities.

If the order was concluded through an intermediary, the Customer consents to Granvalora transmitting personal and contract-related customer data (data from the order form, data in connection with the execution of this order, such as holdings and transactions, income and costs, fees and/or tax-relevant data) to this intermediary for the purposes of customer advice and support, and to such data being processed and used by the intermediary. The Customer's data is processed by us and our intermediaries solely on the basis of Art. 6 para. 1a) GDPR.

Advertising
As long as the Customer does not object, their data will be used to maintain and intensify our trusted contractual relationship. We take the liberty in this respect of occasionally drawing the Customer's attention to favourable offers.

Revocation of Consent
The consent pursuant to Art. 6 para. 1a) GDPR may be revoked at any time by e-mail to datenschutz@granvalora.de or by post to Granvalora GmbH, Im Dachsstück 9, D-65549 Limburg.

Further Information on Data Protection
Further information on data protection can be found at www.granvalora.de/datenschutz.

X. Customer's Duties to Cooperate and Exercise Due Care, Assignment
(1) The Customer has the following duties to cooperate and exercise due care:
a) Granvalora must be notified in writing without delay of all facts material to the business relationship, e.g. changes of name, address, marital status, legal capacity or power of disposal of the Customer or of the persons authorised to sign on their behalf, as well as changes affecting the powers of representation and disposal notified to Granvalora. The duty to notify also applies if the facts are entered and published in public registers.
b) Orders and instructions of any kind must clearly indicate the content of the transaction. Amendments and confirmations must be marked as such.
c) Objections to statements of account, direct debits, storage statements or other notifications from Granvalora, as well as objections to the proper execution of orders by Granvalora, must be raised without delay.
(2) The Customer is not entitled to assign claims to which they are entitled from the purchase order against Granvalora to third parties without the prior written consent of Granvalora.
(3) The contract language is German and German law shall apply exclusively. The German version of the terms and conditions shall be authoritative in all cases. Versions in other languages are for information purposes only. Granvalora is generally entitled to reject required foreign-language documents and deeds and to refuse all related actions until the Customer provides a certified translation in the German language.

XI. Final Provisions
(1) The contractual relationships of the parties shall be governed exclusively by the law of the Federal Republic of Germany, excluding the UN Convention on Contracts for the International Sale of Goods, regardless of whether the goods are procured from Granvalora from within Germany or abroad. The exclusive place of jurisdiction for all disputes arising from or in connection with the contractual relationships between the Customer and Granvalora shall be, insofar as a place of jurisdiction can be validly agreed, Limburg an der Lahn. In business transactions with consumers, the place of jurisdiction shall be determined in accordance with the relevant statutory provisions.
(2) Information on online dispute resolution and on participation in consumer dispute resolution proceedings can be found in the legal notice on Granvalora's website at www.granvalora.de/impressum.
(3) Should any provision of these GTC or of the order be or become wholly or partially invalid or unenforceable, the validity of the remaining provisions of the GTC or of the purchase order shall not be affected thereby. The corresponding statutory provision shall apply in place of the invalid or partially invalid provision. The same shall apply in the event of gaps. § 139 BGB shall not apply.
(4) Granvalora is entitled to amend or supplement these General Terms and Conditions with effect for the future, insofar as this is necessary for objective reasons, in particular due to changes in the legal framework conditions, case law, official requirements, technical processes or business organisation. Amendments shall be notified to the Customer in good time in text form. If the Customer does not object to the amendments within six weeks of receipt of the notification, the amendments shall be deemed approved. In the notification of amendment, Granvalora shall separately draw the Customer's attention to the significance of the period and the consequences of a failure to object. If the Customer objects to the amendments in good time, Granvalora shall be entitled to terminate the contractual relationship by ordinary notice.
(5) Upon the Customer's consent to a new version of these General Terms and Conditions, these shall simultaneously apply to all existing contractual relationships between the Customer and Granvalora in connection with the acquisition, storage and administration of tangible assets, unless expressly agreed otherwise.

GTC Version 2.0, as of June 2026