Standard Trading Conditions
Definitions
Scope
NAU shall provide its services solely in accordance with these terms and conditions.
Work
The Client will set out in writing the services which it requires NAU to provide. NAU will confirm in writing that it accepts those instructions or alternatively what services it will perform in connection with the Client’s instructions. Once NAU and the Client have agreed what services are to be performed (the Services) any subsequent changes or additions must be agreed by both parties in writing. In the event the Client has not set out the services required from NAU during its initial engagement, then the scope of services will be on the basis of the confirmation of engagement sent by NAU to the Client.
Payment
The Client shall pay NAU’s Fees punctually in accordance with these Conditions and in any event not later than 30 days following the relevant invoice date, or in such other manner as may have been agreed in writing between the parties. Any delay in payment shall entitle NAU to seek interest at 2% above the Base Lending Rate of OCBC Bank, Singapore, as prevailing at the time of demand from the date of issue of the invoice. NAU also reserves the right to withhold all reports until payment in full has been received into its nominated account.
Obligations and Responsibilities
Liability
Indemnity
(Except to the extent and solely for the amount therein set out that NAU would be liable under Clause 6) The Client hereby undertakes to keep NAU and its employees, agents and sub-contractors indemnified and to hold them harmless against all actions, proceedings, claims, demands or liabilities whatsoever or howsoever arising which may be brought against them or incurred or suffered by them, and against and in respect of all costs, loss, damages and expenses (including, but not limited to, legal costs and expenses on a full indemnity basis) which NAU may suffer or incur (either directly or indirectly) in the course of the Services under these Conditions.
Force Majeure
NAU and/or the Client shall not, except as otherwise provided in these Conditions, be responsible or have any liability for any loss, damage, delay or failure in performance hereunder arising or resulting from act of God (including, but not limited to earthquake, flood, tsunami, volcano, hurricane, tropical storm, cyclone, blizzard or other similar event), act of war, terrorist attack, nuclear contamination, seizure under legal process, epidemic quarantine restrictions, strikes, boycotts, lockouts, riots, civil commotions and arrest or restraint of princes, rulers or people. Following a force majeure event either party may serve notice on the other to terminate the agreement.
Insurance
NAU may effect and maintain, at no cost to the Client, Professional Liability Insurance for such loss and damage for which NAU may be held liable to the Client under these terms and conditions.
NAU’s Right to Sub-Contract
NAU shall have the right to sub-contract any of its services provided under the Conditions, subject to the Client’s right to object on reasonable grounds. In the event of such a subcontract, NAU shall remain fully liable for the due performance of its obligations under these Conditions.
Time Bar
Any claims against NAU by the Client shall be deemed to be waived and absolutely time barred upon the expiry of one year from the submission date of the Report / Advice to the Client.
Jurisdiction and Law
These Conditions shall be governed by and construed in accordance with the Laws of Singapore. If a dispute, controversy or claim arises out of or relates to this contract, or breach, termination or invalidity thereof, and if such dispute, controversy or claim cannot be settled and resolved through negotiation, then the parties agree first to attempt in good faith to settle such dispute, controversy or claim through mediation at the Singapore Mediation Centre before resorting to arbitration in Singapore in accordance with the Singapore International Arbitration Act (Chapter 143A) and any statutory modification or re-enactment thereof save to the extent necessary to give effect to the provisions of this Clause. The arbitration shall be conducted in accordance with the Arbitration Rules of the Singapore Chamber of Maritime Arbitration (SCMA) current at the time when the arbitration proceedings are commenced.
