General terms and conditions

The terms and conditions that are published on the Steinsteypan website at any time are the Company’s current terms and conditions.

These terms and conditions, together with the relevant special terms and conditions, apply to all transactions of the Company with its customers, unless otherwise specifically agreed or specifically required.

Customers are required to familiarise themselves with these terms and conditions before transactions take place. By entering into business with Steinsteypan, the Company’s customers fully accept these terms and conditions.

The customer shall send Steinsteypan notice of change of address, and Steinsteypan reserves the right to reject transactions and also the right to change the terms and conditions without notice. In the event of inconsistency between the general terms and conditions and the special terms and conditions, the special terms and conditions apply.

Customers who have a customer account with Steinsteypan accept the Company’s terms and conditions as they are at any given time. These general terms and conditions, together with the accepted offer and special terms, as well as the contract itself and, where applicable, annexes to the contractual agreement with the customer, constitute the entire agreement concluded between the parties. In the case of a special agreement with a customer, e.g. project contract, the terms and conditions of the contract shall take precedence over these terms and conditions.

All products and services purchased from Steinsteypan are covered by these terms and conditions. The Company reserves the right to change both its general terms and conditions and special terms and conditions without notice. With the issuing of these terms and conditions, the previous terms and conditions will expire.


Orders and offers

An agreement has been reached between Steinsteypan and the customer when the customer has ordered a product, for example by telephone or by e-mail, confirmed the offer, signed a contract or contractual annex, received a product and/or paid for a product or service. In other respects, the contractual laws on trade between the parties apply.

If Steinsteypan provides a customer with a price offer with a predetermined period of validity, Steinsteypan is not bound by any approval received after that time. If the offer does not have a period of validity, it is valid for 15 days from its date of issuing unless otherwise stated.

The transfer of contractual rights to a third party is prohibited and does not enter into force unless specifically authorised in the agreement or within the special terms and conditions.

Prices and terms and conditions

All prices provided by Steinsteypan are base prices. Prices are given according to the company price list on the website or according to an offer. VAT is included in the stated price unless otherwise stated. Please note that the price list can change without notice.

The offer price is based on cash payment, and the Buyer pays a confirmation fee on approving the offer. The offer is valid for 2 weeks from the date of issue of the offer.

Payment shall be in cash unless otherwise agreed. In the case of a cash or bulk discount, the amount of discount will be deducted from the base price. Discounts are not given on special offer prices.

All processed goods are the property of Steinsteypan until full payment has been made. Payment with bills of exchange, credit card or other payment methods are not considered to be completed until full payment has been made to Steinsteypan. The sale, assignation of rights, mortgaging or other allocation of purchased items is prohibited without prior approval whilst it is considered that the Company has ownership of the product.

The special terms and conditions and special offers from Steinsteypan to customers may include disclaimers or specific conditions. The items specified therein take precedence over these terms and conditions.

The following reservations are made:

  1. The right to price changes without prior notice.
  2. Steinsteypan reserves the right to make changes to its production without notice.
  3. Steinsteypan does not guarantee to have all of its products in stock.


The purchase price and proprietary notices

The purchaser grants the Company a seller’s lien in the purchased item, according to Act No. 75/1997 on Contractual Liens. The lien applies to all the items specified in the agreement/invoice until the contract price / invoice is paid in full, with interest and costs if applicable. The lien acts as security for the Company’s claims for the required payment, specified in the contract/invoice, together with interest and costs. The Buyer may neither sell nor pledge the secured items without the written approval of the Company. In the event of defaults of the payments of the claims covered by the lien, Steinsteypan can seek full satisfaction of its claim.

The Company sells its products with title retention, and its treatment shall be governed by Article 42 of Act No. 75/1997 on Contractual Liens.

Steinsteypan reserves the right to hire subcontractors to fulfil all of the obligations that the Company has taken on in connection with sold goods and/or services. Subcontractors operate under the responsibility of the Company in relation to the customer. Carriers of goods that are supplied by the Company for buyers are not subcontractors of the Company. Buyers have a direct contractual relationship with the carrier and pay them for the transportation.


Delivery of goods and characteristics

All processed goods are the property of Steinsteypan until full payment has been made. The customer is required to take care of the delivered product until full payment has been made.

The delivery of sales items, transfer of documents or other transfer of executive rights over the sale item will be done against payment of the sale price, except for invoice transactions or Visa and Eurocard loans. Steinsteypan does not insure goods in transport. If a customer requires that a product is insured for transport, the customer is responsible for the insurance.

The risk attached to the sold assets is transferred from Steinsteypan to the Buyer on delivery of the goods. A contract on the transportation of goods from the dispatch centre does not change the time point for the transfer of risk to the Buyer. If items are not collected or delivery accepted on the delivery date and it is attributable to the Buyer or an incident related to the Buyer, the risk is transferred to the Buyer when the item is at his disposal, and the delay of receipt is the Buyer’s responsibility.

Steinsteypan is not responsible for any situations that may arise that lead to the inability to unload and/or deliver goods at the delivery point. The Buyer has no claim on the Company if the delivery of concrete is delayed due to reasons outside the Company’s control. The Buyer has no claim on the Company due to working hours that are lost due to waiting for the concrete.

The characteristics of the product and the quality standards designed to ensure those characteristics are carried out according to the IST EN 206 standard and building regulations in force at any given time. It is entirely the responsibility of the customer if he does not follow the instructions for use of the product. Precipitates (of cement and sand) can occur on the surface of the concrete product. Steinsteypan takes no responsibility for this, as the precipitates do not adversely affect the product.

The customer is always responsible for the full cost of shipping a product unless otherwise agreed separately. The transport of products to the countryside is carried out by carriers that Steinsteypan is partnered with, but products are driven to a customer by Steinsteypan if it is more profitable.

The vehicles used by Steinsteypan for distribution are heavy and require a lot of space. Customers are asked to take note of this at the place of delivery when the product is delivered. Steinsteypan is not responsible for any situations that may arise that lead to the inability to unload goods on delivery.


Defaults, penalty interest and collection

If the invoice is not paid at the latest on the final due date, penalty interest shall be added according to Article 6 of Act No. 38/2001, on the total debt of the customer to the Company.

Steinsteypan reserves the right to cancel all discounts that may have been given to customers for credit withdrawal in goods, according to withdrawal notice and/or invoice, including discounts given in special offers and/or agreements with the customer, without notice, if payment is made after the final due date or, if applicable, the agreed payment date, if it is a day other than the final due date.

All costs incurred in collecting the debt, including collection costs due to warning notices, intermediate collection (if applicable) and legal collection, will be added to the overdue debt in accordance with the Act on Debt Collection No. 95/2007, cf. Regulation No. 37/2009 on the maximum amount of collection costs, etc.

Reference is made to Act on Debt Collection No. 95/2008 and current regulations regarding collection fees. If the debt is not paid within the time limit given to the customer with the debt collection letter and/or debt collection warning, the Company is fully authorised to send the debt for legal collection without delay.

If the debt is not paid within the time limit given with the debt collection warning and intermediate collection letter (if applicable), the account debt is sent to legal collection without further warning, and the Buyer can expect that on top of the debt, additional costs will be added, e.g. attorney collection fees and various legal, enforcement and execution fees. The Seller may terminate an agreed delivery which has been agreed to be in stages if payment has not been received for a prior delivery. Suspension of delivery is permitted up until overdue payments have been made or adequate insurance in the opinion of Steinsteypan has been provided.

Guarantors are specifically advised to carefully study the content of the warranty statements that they sign. Guarantors are also encouraged to acquaint themselves with the Act on Guarantors.

By signing the guarantee, the guarantors are responsible for the debt of the customer/debtor as though it is their own debt. In the case of several guarantors, each one of them shall guarantee full payment to the creditor. The general rules of Icelandic law then apply to settlement between guarantors. If the guarantor withdraws their responsibility, the guarantee shall be revoked in a verifiable manner. The guarantee then stands for the debt that is present when the guarantee is cancelled, as well as interest and costs incurred on collection according to the guarantee after it is withdrawn. The customer’s payment of debt is first allocated to the part of the debt that is not insured with a guarantee.

If the Company and legal entities are sold, merged, or other changes occur in their operations, it is their responsibility to notify Steinsteypan about the changed circumstances of the transactions, where applicable, in order to revoke the guarantee that exists. Steinsteypan is not in any way responsible for monitoring such changes.


Liability and the limitation of liability

Steinsteypan’s liability for defects in products is limited to the Company delivering a new product from the factory to replace the defective product. The Company’s liability does not amount to a higher amount than the customer initially paid for the product. The Company is not responsible for the cost of repair or liability for consequential damages. Once Steinsteypan has delivered the goods to the agreed place of delivery at the customer’s request, Steinsteypan is not responsible for the product being damaged by or causing damage to third parties. When assessing whether a sales item is defective, the point in time when the risk posed to the sold item is transferred to the Buyer, should be taken into account.

The responsibility of Steinsteypan is based on the customer having used the product in accordance with the instructions and usual or normal use. If the Company has issued a description of the use of the product, manuals or other instructions on the use of the product, the Company’s liability is subject to the product being used in accordance with the instructions. A complaint about a defective product or service must be received immediately after the defect is observed. The Buyer is obliged to inspect the product carefully upon receipt and notify the Company of any defects before the product is used for construction.

The Company´s customers are not entitled to compensation if default of an obligation takes place as a result of events beyond their control (Force Majeure), such as labour disputes, warfare, insurrection, natural disasters, measures in matters of foreign exchange or trade taken by public authorities, embargos, blockades, general interruption of communications, energy shortage, or uncontrollable events in relations with subcontractors.

The sales invoice must be submitted for confirmation of product responsibility.

Liability does not cover work or additional costs, e.g. driving and travel time. The responsibility does not cover costs resulting from changes made by persons other than employees of the Company.

Liability is cancelled in the following cases:

  1. When damage is caused by improper handling, misuse or accident.
  2. Repairs or attempted repairs have been made by anyone other than Steinsteypan employees or without the Company’s approval.
  3. The product has been interfered with in such a manner that it has become damaged.

The Buyer has no claims against Steinsteypan due to the characteristics of the purchase that he was aware of, should have been aware of, or that could be observed on receipt or with use, by instructions, descriptions or other information accompanying the purchase.

In no event shall the Company be held liable for the operating loss of a customer or any other indirect damages, including loss of profits or planned savings, irrespective of whether the loss or damage can be traced to defects, damages or the destruction of the purchased item or to other circumstances.

The Buyer is not able to claim anything as a defect that he knew or should have known about when the purchase was made. If a Buyer has failed to perform due diligence upon delivery, the Buyer cannot make a claim for anything that in this case should have been found. The above also applies if the Buyer has, before the purchase, examined a sample of the item or refrained from doing so without a valid reason and the defect relates to a characteristic shown in the sample.

Should Steinsteypan be required to pay compensation to the Buyer in connection with this agreement, the Buyer can never claim compensation exceeding the purchase price of the purchase.


Customer account

If a customer requires a customer account, it should be applied for at the Company’s office. It is a prerequisite for customer accounts that adequate insurance is available for account withdrawals.

On all due invoices, the maximum legally allowable penalty interest is calculated according to paragraph 1, Article 6 of Act No. 38/2001 on Interest Rates and Indexation, as determined by the Central Bank of Iceland at any given time. If an invoice is unpaid at the end of the due date, penalty interest is calculated on the balance from the due date of the invoice.

Steinsteypan sets the following conditions for customer accounts:

  1. That the customer or guarantor for withdrawals from the customer account is the officially registered owner of the property.
  2. That neither the customer nor a guarantor is listed on the Creditinfo defaulters’ register.
  3. If the customer is the legal entity, the Company sets the condition for the customer account that they are guaranteed by a guarantor who is the officially registered owner of a property and is not registered on the Creditinfo’s defaulters’ register.
  4. The Company reserves the right to acquire additional collateral for customer accounts, as described in items 1 – 3 above, such as bank guarantees, collateral or other collateral that the company assesses to be adequate.

Steinsteypan reserves the right to change the customer’s previously defined discount terms without notice or special notifications, without it being regarded as termination of business. Steinsteypan reserves the right, in case of non-payment of invoices, to reverse all accumulated discounts, including discount offers that the customer has received and increase the customer’s obligations to Steinsteypan by the corresponding amount.

At the commencement of customer account transactions, the Company decides on the customer’s credit limit. The credit limit is determined on the basis of the Company’s valuation of the collateral provided by the customer at the commencement of the transaction. The Company reserves the right to review the evaluation without any special notification or warning. The credit limit can therefore be changed without notice.

The customer shall notify the Company of the persons (representatives) authorised to withdraw from the account and / or request a password or secret number that may be used for withdrawals. If this is not done, all withdrawals from the customer account are the responsibility of the customer. The customer must report to the Company in a verifiable manner if a representative is no longer authorised to act on his behalf. The representative is therefore deemed authorised to withdraw from the account on behalf of the customer until the change has been verifiably reported to the Company. If the customer has not notified a specific representative or requested a password or a secret number, all withdrawals from the customer account, with any name, are the responsibility of the customer. Employees of the Company may request that representatives show identification to prove their identity for each withdrawal.

Where applicable, the laws on sale of goods and consumer purchases on transactions are valid, according to these terms and conditions.



Concerning contracts between Steinsteypan and its customers, these terms and conditions and any other connected terms and conditions are governed by Icelandic law. In case of litigation or legal proceedings due to transactions between the Company and the Client, proceedings may be brought before the District Court of Reykjavik.