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GENERAL TERMS & CONDITIONS

1. David Morrison Associates N.V. (hereafter - “DMA”) is a limited liability company established in 1980 under the laws of the Netherlands Antilles for the purposes of providing architectural and allied services in the broadest sense of these terms.

2. Any arrangements between DMA and Clients requesting their services shall be governed by the “ARNA” – Architekten Regelings van der Nederlandsen Antillen, such to be subordinate to the following Terms & Conditions, and all conditions under which DMA offers or supplies services shall be so governed, unless specifically varied and agreed in writing by both parties.

3. Unless so agreed, professional fees shall be calculated and billed at hourly personnel rates to be invoiced monthly and payable in cash, cheque, Visa, Mastercard or Discover, all but cash to be subject to management approval, within 30 days of the invoice date.

4. Failure to make such payment shall render the Client in automatic default, without further notice of same being required, whence DMA may suspend services, without prejudice and without liability in any way for any damages which may be incurred by Client due to such suspension : notwithstanding other rights of DMA., all unpaid invoices will be subject to a late fee of 1.5% per month as well as the legal interest thereon and all reasonable collection fees.

5. When DMA’s remuneration is agreed on the basis of a fixed fee or on a percentage of actual or estimated construction cost, and the rendering of such services is necessarily expanded by revisions or changes in the scope of the envisaged construction or by extended services, for example, detailed costing or quantity surveys, renderings or plans for sales or display purposes, special legal or planning requirements, or any effort outside the scope of normal services and thus not reasonably covered by the original fee calculation, then additional fees shall be invoiced per para.3 above : however, DMA shall give due notice to Client when the bounds of an agreement are to be exceeded.

6. Upon commencement of services, DMA may request a retainer, the amount depending upon the scope and timetable of the Client’s project, to be held against expenses or to be credited to future billings. All invoices shall be supplements by expenses, where applicable, to include communications costs, reprographics, overseas travel and allied costs and any other expenses directly related to the project in question.

7. DMA may, where necessary, engage third parties to perform any part of the work required, most notably where specific design, specification, detailing, engineering or other specialist services are required : careful selection of such consultants will be made and in cases in which a substantial portion of the effort is made by the consultant, the Client will be informed accordingly. Fees for such consultants may be required to be paid directly to same or may be the subject of a small surcharge if paid through DMA.

8. Disputes arising from the relationship between parties shall be settled exclusively according to the laws of the Netherlands Antilles and shall be submitted to the Court of the First Instance in Philipsburg, Sint Maarten.

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