Definitions
In these Terms:
“MCB” means Mineral Circles Bearings FZCO, Jebel Ali Free Zone, Dubai, United Arab Emirates.
“Customer” means the business buyer named in MCB’s quotation, order confirmation, proforma invoice or invoice.
“Goods” means bearings, belts, seals, power transmission components, automotive spare parts and any other products supplied by MCB.
“Principal” means the manufacturer or supplier of the Goods.
“Contract” means each contract for the sale of Goods under these Terms.
“Net Price” means the price paid or payable for the relevant Goods, excluding VAT, freight, insurance, duties and other separately charged costs.
“Authorised Signatory” means MCB’s Manager or Sales Director, or another person authorized in writing by MCB.
“Business Day” means a day on which banks are open for business in Dubai, excluding Saturdays, Sundays and UAE public holidays.
“In writing” includes email.
1. Scope, precedence and entire agreement
1.1 These Terms apply to every quotation, proforma invoice, order confirmation, sales order, delivery and invoice issued by MCB to a Customer buying Goods for its trade, business, profession or resale. They form a framework agreement and apply automatically to every present and future order, without further reference.
1.2 Consumers. These Terms apply only to business-to-business sales. They do not apply to a person buying Goods wholly or mainly for personal, family or household use; such sales are governed by MCB’s consumer terms and UAE consumer protection law. By placing an order, the Customer confirms that it is buying for business or resale purposes, and MCB may request evidence of this.
1.3 These Terms apply to the exclusion of any terms of the Customer in any purchase order, email, website or other document, even if MCB does not object to them, unless an Authorised Signatory expressly accepts those terms in writing. MCB’s order confirmation or proforma invoice is MCB’s final offer. The Customer accepts it, together with these Terms, by written acceptance, by any payment, or by collecting or receiving any Goods.
1.4 Order of precedence: (a) specific terms for the relevant order agreed in writing by an Authorised Signatory; (b) these Terms; and (c) MCB’s price lists, catalogues and other general documents. A specific term overrides these Terms only if it expressly identifies the clause it changes.
1.5 Only an Authorised Signatory may vary, waive or add to these Terms, and only in writing. No other employee or agent of MCB may vary these Terms, give any warranty or guarantee, or make any representation binding on MCB.
1.6 The Contract is the entire agreement on its subject matter and replaces all prior proposals and communications. The Customer confirms that it has not relied on any statement, advice, sample, drawing, catalogue entry, website content or representation not expressly set out in the Contract. Nothing in this clause excludes liability for fraud.
2. Quotations and orders
2.1 Catalogues, price lists, website listings and advertisements are not offers. Quotations are valid for 15 days from issue, subject to prior sale and stock availability.
2.2 An order binds MCB only when MCB issues a written order confirmation or proforma invoice, or receives the required advance payment.
2.3 The Customer is solely responsible for the accuracy of part numbers, brands, quantities, dimensions, specifications and application data in its order, and for selecting Goods suitable for its intended use. MCB may rely on the information supplied by the Customer and has no duty to verify it, unless MCB has agreed in writing to verify a specified requirement.
2.4 Confirmed orders may not be cancelled, changed or deferred without MCB’s written consent. If MCB consents, the Customer pays all cancellation, restocking and return charges of the Principal and MCB’s handling, freight and other costs arising from the change.
2.5 Special orders (Goods not held in MCB’s regular stock, or procured or sourced specifically for the Customer) cannot be cancelled or returned. If the Customer cancels or fails to take delivery, MCB may retain the advance up to the total of the Principal’s non-recoverable charges, MCB’s costs and MCB’s lost margin, and may invoice any shortfall. For special orders, MCB may deliver up to 10% more or less than the quantity ordered, invoiced at the unit price.
2.6 MCB may cancel any order or order line, without liability, if the Goods become unavailable from the Principal, or if the quotation, order confirmation or proforma invoice contains a manifest error in price, description or quantity. MCB will refund any advance paid for the cancelled part. This is the Customer’s sole remedy.
3. Prices
3.1 Prices are in USD for export sales and AED for UAE sales, EXW MCB’s warehouse at the location stated in the order confirmation (Incoterms:registered: 2020), unless the order confirmation states otherwise.
3.2 Prices exclude VAT, customs duties, taxes, freight, insurance, export packing, legalization, inspection and bank charges, which are payable by the Customer. UAE VAT is charged as required by law.
3.3 Stock prices are firm for the quotation validity period and the quoted quantity, except for manifest errors. For special orders and back-orders, MCB may adjust the price by written notice before dispatch to reflect changes in Principal prices, freight, insurance, exchange rates, or any new or increased duty, tariff, tax or legally imposed surcharge. If the increase on a line exceeds 10%, the Customer may cancel that line by written notice within 3 Business Days of receiving the notice; otherwise the revised price applies. Cancellation is the Customer’s only remedy, and any refund is subject to the Principal’s non-recoverable charges.
4. Payment
4.1 Unless MCB has approved credit in writing, the Customer pays the full price before release of the Goods, by bank transfer (TT) or any other payment method accepted by MCB.
4.2 For approved credit accounts, payment is due 30, 60 or 90 days from the invoice date, as stated in MCB’s written credit approval, within the approved credit limit. Credit for one order is not a commitment to extend credit for future orders. MCB may make credit conditional on security, such as a bank guarantee or letter of credit, and may review, reduce, suspend or withdraw credit at any time by notice. Orders above the available limit require advance payment.
4.3 Payment is made in full, in the invoice currency and in cleared funds, without deduction, withholding, set-off or counterclaim. All bank and intermediary charges are for the Customer’s account. A complaint or claim about any Goods does not entitle the Customer to withhold or delay any payment.
4.4 If any amount is not paid when due:
(a) the Customer pays a one-time late payment charge of 5% of the overdue amount, plus interest of 3% per month, simple and not compounded, calculated daily from the due date until full payment. The Customer agrees that these are reasonable compensation for delay, payable without MCB having to prove loss. If a court or tribunal finds the charge or the rate excessive, it applies at the highest level the court or tribunal will enforce;
(b) MCB may, without liability, suspend deliveries and the processing of any claim, withhold Goods, and cancel unfulfilled orders;
(c) after 7 days’ written notice, MCB may declare all amounts owed by the Customer immediately due; and
(d) the Customer reimburses MCB’s reasonable costs of recovery, including collection agency, legal, court and arbitration costs.
4.5 MCB may set off any amount it owes the Customer, including any credit note, against any amount the Customer owes MCB. MCB may allocate any payment received first to costs, late payment charges and interest, and then to the oldest outstanding invoices.
4.6 Statements of account and invoices are deemed accepted unless the Customer raises a written objection, with reasons, within 8 days of receipt.
5. Delivery and risk
5.1 Delivery is EXW MCB’s warehouse at the location stated in the order confirmation (Incoterms:registered: 2020), unless otherwise agreed in writing. Risk passes to the Customer on the earlier of MCB’s notice that the Goods are ready for collection, or collection.
5.2 If MCB arranges carriage, insurance, export clearance or other logistics at the Customer’s request, it does so as the Customer’s agent, at the Customer’s cost and risk. MCB is not liable for any carrier, forwarder or insurer.
5.3 Delivery and readiness dates are estimates only. MCB is not liable for any loss caused by delay, and delay does not entitle the Customer to cancel, refuse Goods or claim compensation. If Goods are not ready within 90 days after the estimated date, for reasons other than clause 11 or the Customer’s default, the Customer may cancel the undelivered part by written notice and receive a refund of any advance paid for that part. This is the Customer’s sole remedy for delay.
5.4 MCB may deliver in instalments. Each instalment is a separate Contract. A defect or delay in one instalment does not entitle the Customer to cancel any other.
5.5 The Customer collects the Goods within 14 days of MCB’s notice that they are ready. After that, the Goods are stored at the Customer’s risk and cost, and MCB may charge storage, handling and insurance at its standard rates.
5.6 If the Goods are not collected within 60 days of the notice of readiness, MCB may, after 7 days’ written notice, cancel the order and resell or otherwise dispose of the Goods. MCB applies the advance and any resale proceeds to storage, handling and resale costs, any loss on resale, and any other sums due from the Customer. Any balance is refunded, and any shortfall is payable by the Customer.
5.7 The Customer is solely responsible for all import licenses, permits, product registrations, conformity certificates, labelling and customs requirements, and duties in the destination country. MCB gives no warranty that the Goods comply with the laws, standards or registration requirements of the destination country.
6. Retention of title
6.1 Ownership of the Goods remains with MCB until MCB has received full payment of all sums due from the Customer on any account. This does not affect the passing of risk under clause 5.
6.2 Until ownership passes, the Customer holds the Goods for MCB, stores them separately and identified as MCB’s property, insures them for their full price, and does not pledge or charge them. The Customer may resell them in the ordinary course of business until MCB notifies otherwise or a payment default occurs, and holds the resale proceeds for MCB up to the amount owed.
6.3 If payment is overdue or a clause 15.1 event occurs, MCB may recover the unpaid Goods. The Customer irrevocably consents to MCB entering, during business hours, any premises where the Goods are stored for that purpose. MCB may also seek any interim relief or enforcement available by law.
6.4 The Customer consents to MCB registering its rights with the Emirates Integrated Registries Company, or any successor registry, and to any equivalent filing abroad, and signs any document reasonably required.
7. Inspection and claims for shortage, damage or wrong supply
7.1 The Customer inspects the Goods on collection or receipt. Signing a delivery note or collection record, or collecting the Goods, confirms that they were received complete and in good visible condition, except for anything noted on that document.
7.2 Claims for shortage, visible damage, wrong part number or wrong supply must be made in writing, with supporting evidence:
(a) for UAE collections, noted on the delivery note at collection and confirmed in writing within 3 Business Days; and
(b) for export shipments, within 10 days after arrival at destination, and in any event within 45 days after collection.
7.3 Defects not discoverable by reasonable inspection must be notified in writing within 14 days after discovery. Warranty claims are governed by clause 9.
7.4 Each claim must include the invoice number, part numbers, quantities, a description of the issue, photographs, the packing list and, for transit claims, carrier documents. The Customer must stop using the affected Goods, keep them and their packaging unaltered, and make them available for inspection. MCB may request any further information it needs to assess the claim.
7.5 These periods are agreed under Article 108(4) of the UAE Commercial Transactions Law. If the Customer does not notify within these periods, the Goods are deemed accepted and the claim is excluded, to the maximum extent permitted by law, except where MCB fraudulently concealed the defect. Claims under clause 7.2 are also excluded once the Goods have been fitted, used, altered or repacked.
7.6 Loss or damage after risk passes is the Customer’s responsibility and a matter for the carrier or insurer.
8. No Sales Returns Policy
8.1 MCB follows a strict No Sales Returns Policy, which it applies consistently to ensure product quality, operational efficiency and fair treatment of all customers. Goods sold to business customers are not returnable, exchangeable or refundable. This includes ordering errors, wrong part numbers or applications selected by the Customer, surplus or slow-moving stock, change of mind, and Goods whose packaging has been opened, damaged or marked.
8.2 The policy is based on the following reasons:
(a) Product integrity and safety. Bearings, tools and power transmission components require proper handling, storage and use to maintain their quality and reliability.
(b) Contamination risk. Products may be exposed to dust, dirt or moisture after leaving MCB’s facility, potentially affecting their condition.
(c) Quality assurance. MCB cannot independently verify that products have been maintained under its quality control and storage standards once they leave its premises.
(d) Resale limitations. Even unused products may not be suitable for resale if their original condition, packaging or storage history cannot be fully verified.
(e) Special orders. Application-specific and non-standard products may not be suitable for other customers.
(f) Manufacturer warranty. Warranty coverage generally addresses qualifying product defects and does not automatically cover incorrect product selection, improper installation or application-related issues.
(g) Cost control. Returns involve inspection, handling and repackaging costs, which affect MCB’s ability to maintain competitive pricing.
8.3 The only exceptions are an MCB supply error notified under clause 7, and a defect accepted under clause 9. In those cases MCB will, at its option, replace or correct the Goods or issue a credit note for the Net Price. A cash refund is made only if neither replacement nor credit is possible.
8.4 No Goods may be sent back to MCB without MCB’s prior written return authorization and instructions. Unauthorized returns are refused or held at the Customer’s risk and cost. A return authorization does not mean that a claim is accepted.
8.5 Any exception to this policy is valid only if approved in writing by MCB’s Sales Director, and creates no precedent or right for any other order.
8.6 This clause does not apply to consumers (clause 1.2) and does not affect any right that cannot be excluded by law.
9. Warranty
9.1 Branded Goods. Goods of third-party brands, including SKF, NTN, SNR, Dayco, Iljin, Musashi and Corteco, carry only the warranty offered by their manufacturer, on the manufacturer’s terms and for its warranty period. MCB gives no warranty of its own on branded Goods, except that at delivery the Goods match the brand and part number on MCB’s invoice. MCB passes on the benefit of the manufacturer’s warranty to the extent it is able and coordinates claims. A claim is valid only if the manufacturer accepts it, and MCB’s obligation is limited to what the manufacturer grants.
9.2 MCB brand Goods. MCB warrants MCB brand Goods against defects in material and manufacture for 12 months from the invoice date, subject to inspection and acceptance by the manufacturer.
9.3 Claim procedure. The Customer must notify MCB in writing within 30 days after the defect appears, and in any event within the warranty period, with the invoice number, part number, photographs, and a description of the application, mounting, lubrication, operating conditions and failure. The Customer keeps the Goods and, if requested, sends them for inspection at its own cost and risk.
9.4 Assessment. The manufacturer’s technical inspection report is the basis for deciding the claim. If the Customer disputes the report in writing within 14 days, the Goods are examined by an independent surveyor or laboratory agreed by both parties. The Customer pays that cost in advance, and MCB refunds it if the claim is upheld. The independent finding is final for the claim, except in case of fraud or manifest error.
9.5 Exclusions. The warranty does not cover failure caused by: wrong selection or application; improper mounting, alignment or fitting; inadequate or wrong lubrication; contamination, moisture or corrosion; overload, vibration or electrical erosion; misuse or accident; normal wear and tear; improper storage or handling after delivery; alteration or repair; use outside the manufacturer’s specification; or use past shelf life. If a claim is rejected, the Customer pays all inspection, testing and freight costs.
9.6 Sole remedy. If a claim is accepted, MCB will, at its option, replace the Goods or credit their Net Price. This is the Customer’s sole and exclusive remedy for defective Goods. Labour, removal, installation, downtime, transport and all other costs are excluded.
9.7 MCB may set off any credit due under this clause against amounts owed by the Customer.
9.8 All other warranties, conditions and terms, express or implied by law, custom or course of dealing, including quality, merchantability, fitness for a particular purpose and durability, are excluded to the maximum extent permitted by law. This does not affect the express warranties in clauses 9.1 and 9.2, the warranty of title, or liability for defects fraudulently concealed by MCB.
9A. Technical advice, fitment and cross-reference information
9A.1 Technical advice, application recommendations, interchange and cross-reference data, OEM numbers, vehicle or machine fitment information, drawings, dimensions and catalogue data given by MCB or its staff, orally, in writing, on a website or in any software, are free of charge, for general information only, and given without liability. MCB does not provide engineering or verification services unless agreed in a separate written contract signed by an Authorised Signatory.
9A.2 Before ordering, fitting or reselling, the Customer independently verifies part numbers, dimensions, specifications, load ratings, clearances, operating conditions and suitability for the intended application. The Customer remains solely responsible for the selection of the Goods and for their installation and use by competent persons in line with the manufacturer’s instructions.
9A.3 MCB does not design, install, mount, commission or maintain any equipment, and gives no warranty about the performance of any machine, vehicle or system in which the Goods are used.
9B. Genuine Goods and manufacturer support
9B.1 Manufacturer warranty, support and documentation depend on each manufacturer’s policies for the destination territory and may not be available in every market. Where a manufacturer does not honour a warranty for the Customer’s territory, MCB’s only warranty for those Goods is that they match the brand and part number on MCB’s invoice (clause 9.1).
9B.2 Changes by manufacturers to packaging, labels, markings, country of origin or design are not a defect or non-conformity.
9B.3 If the Customer believes any Goods are not genuine, it must notify MCB in writing within 30 days of delivery, keep the Goods and packaging unaltered, and allow MCB and the brand owner to inspect them. If the brand owner confirms in writing that the Goods are not genuine, MCB refunds the Net Price against return of the Goods. Subject to clause 10.1, this is the Customer’s sole remedy.
10. Limitation of liability
10.1 Nothing in the Contract excludes or limits MCB’s liability for:
(a) fraud, fraudulent concealment, gross negligence or wilful misconduct;
(b) death or personal injury, or any other harmful act where the law does not permit exclusion or limitation;
(c) breach of the warranty of title; or
(d) any other matter for which liability cannot lawfully be excluded or limited.
10.2 Subject to clause 10.1, MCB’s total aggregate liability arising out of or in connection with any Contract or Goods, whether in contract, under warranty or indemnity, or (to the extent the law allows) on any other basis, shall not exceed the Net Price of the specific Goods that gave rise to the claim. This is one aggregate cap for all claims and all claimants relating to those Goods.
10.3 Subject to clause 10.1, MCB is not liable, however arising, for:
(a) loss of profit, revenue, production, use, business, contracts or goodwill;
(b) downtime, business interruption, or indirect or consequential loss;
(c) any direct or indirect expenses, including labour, removal, installation, reinstallation, inspection, transport, legal, administrative, recall or replacement equipment costs;
(d) penalties, liquidated damages or compensation payable by the Customer to any third party; or
(e) any claim made against the Customer by its customers or any other third party.
10.4 The remedies in clauses 2.6, 3.3, 5.3, 7, 8.3, 9 and 9B are the Customer’s sole and exclusive remedies for the matters they cover.
10.5 Time limits for claims. To the maximum extent permitted by law, and as agreed under Article 108(4) of the UAE Commercial Transactions Law:
(a) proceedings for shortage, visible damage or wrong supply must be started within 60 days of delivery;
(b) proceedings for hidden defects must be started within 6 months of delivery or, for MCB brand Goods under the 12-month warranty, within 13 months of delivery; and
(c) any other claim must be notified in writing within 12 months of the event giving rise to it.
After these periods, the claim shall not be heard, except in case of fraud by MCB.
10.6 MCB’s employees, officers and agents may rely on this clause 10.
10.7 The Customer acknowledges that MCB’s prices reflect this allocation of risk, and that the Customer can insure against the risks allocated to it.
10A. Customer indemnity, onward sales and insurance
10A.1 The Customer indemnifies MCB and its employees against all claims, losses, damages, fines, costs and expenses, including legal costs, arising out of or in connection with:
(a) the resale, export, installation, mounting, application, handling, storage, modification or use of the Goods by the Customer or any later buyer or user;
(b) any specification, drawing, design or instruction supplied by the Customer, including any intellectual property claim relating to Goods made or marked to it;
(c) any warranty, representation or statement given by the Customer beyond clause 9;
(d) any breach of clauses 12 or 14; or
(e) any other breach of the Contract or of applicable law by the Customer.
This indemnity does not apply to the extent the loss is caused by MCB’s fraud or gross negligence.
10A.2 The Customer shall not give its own customers any warranty or remedy wider than clause 9, and shall not represent that MCB or any manufacturer has given one. The Customer’s own terms of sale shall contain limitations of liability no less protective than clause 10.
10A.3 Customers reselling, installing or using Goods in industrial, automotive or safety-related applications shall maintain product and public liability insurance with a reputable insurer, appropriate to their business and not less than any minimum MCB notifies in writing, and shall provide evidence on request.
10A.4 The Customer keeps records sufficient to trace the Goods to its buyers, cooperates promptly in any safety notice, investigation or recall, and notifies MCB without delay of any accident, claim or authority action involving the Goods.
11. Force majeure
11.1 MCB is not liable for any failure or delay caused by events beyond its reasonable control, including: shortage, allocation, discontinuation or late delivery by any Principal or supplier; disruption or closure of shipping, ports, airports, canals or routes; customs or border delays; war, terrorism, piracy or civil unrest; sanctions, embargoes, export controls or government action; currency, banking or payment restrictions or failures; epidemics; fire, flood, storm or extreme weather; strikes or labour disputes; power, IT or telecommunication failures; and cyber-attacks.
11.2 During such an event, MCB’s obligations are suspended and the time for performance is extended. MCB may allocate available Goods among its customers and deliver in part.
11.3 If the event prevents delivery for more than 90 days, either party may cancel the affected undelivered part by written notice, without liability. MCB refunds any advance paid for that part, less any non-recoverable Principal charges incurred at the Customer’s request.
11.4 This clause does not excuse payment for Goods already delivered or collected.
12. Export controls and sanctions
12.1 The Customer complies with all export control, sanctions, customs and trade laws that apply to it, to MCB, to the Principals or to the Goods, including the laws of the UAE and the United Nations and, where applicable, other jurisdictions.
12.2 The Customer confirms that none of it, its owners, directors, banks, end-users or consignees is a sanctioned person or owned or controlled by one, and that the Goods will not be supplied, directly or indirectly, to any sanctioned person or for any military, nuclear, chemical, biological or missile end-use.
12.3 On request, the Customer promptly provides accurate end-user, end-use, destination and consignee statements and supporting documents. The Customer shall not divert or re-export the Goods contrary to applicable law or any Principal restriction communicated to it.
12.4 MCB may, without liability, refuse, suspend or cancel any order, and refuse any payment from any bank or payer, if it reasonably believes that performance or payment could breach any law or Principal restriction, or expose MCB to sanctions risk. MCB may request further information before proceeding.
12.5 The Customer indemnifies MCB against all losses, fines and costs arising from any breach of this clause.
13. Product information, website and trademarks
13.1 Technical data, illustrations, weights, dimensions, prices and availability in catalogues, on websites or in any electronic system are indicative only, may contain errors, and may be corrected at any time. They do not form part of the Contract unless stated in the order confirmation.
13.2 Trademarks belong to their respective owners. The Customer shall not remove, alter or obscure any marking, label, batch code or packaging, or repackage or relabel the Goods.
14. Compliance
14.1 Each party complies with all applicable anti-bribery, anti-corruption, anti-money laundering and counter-terrorist financing laws. The Customer shall not offer, promise or give any payment, gift or benefit to any MCB employee or agent, and shall promptly report any request for one.
14.2 MCB may suspend or terminate any Contract or credit facility immediately, without liability, on breach of this clause. The Customer indemnifies MCB against any resulting loss.
15. General
15.1 Suspension and termination. MCB may suspend performance, withdraw credit or terminate any Contract by notice, without liability, if the Customer fails to pay any amount when due, breaches the Contract, becomes insolvent, ceases business or undergoes a change of control, or if MCB reasonably considers that the Customer’s credit standing has materially deteriorated.
15.2 The Customer may not assign the Contract without MCB’s written consent. MCB may assign its rights, including receivables, to any person, including an affiliate, bank, factor or credit insurer.
15.3 A delay or failure by MCB in exercising any right is not a waiver. A waiver is effective only in writing signed by an Authorised Signatory.
15.4 Severability and read-down. If any provision, or part of one, is held void, unenforceable or excessive, it applies with the minimum modification needed to make it valid and enforceable, to the maximum extent permitted by law. If that is not possible, it is treated as deleted, and the rest of these Terms continue in full force.
15.5 MCB may update these Terms by publishing a new version at www.mcb.ae/terms-of-supply or by notifying the Customer. Updated Terms apply to orders confirmed after publication or notice.
15.6 Notices may be given by email to the business email address in the order, credit application or latest written notice, or by courier to the registered or notified business address. An email is deemed received on the next Business Day after sending, unless a delivery failure message is received.
15.7 MCB’s commercial books, delivery notes, collection records and electronic records are evidence of orders, deliveries and amounts due, unless the Customer proves otherwise.
15.8 These Terms are written in English. The English version prevails over any translation, to the extent permitted by law.
15.9 The Contract gives no rights to any third party, except as stated in clause 10.6. Clauses 4, 6, 9, 10, 10A, 12 and 16 survive completion or termination of any Contract.
16. Governing law and disputes
16.1 The Contract, and any non-contractual obligation arising out of or in connection with it, is governed by the federal laws of the United Arab Emirates as applied in Dubai. The UN Convention on Contracts for the International Sale of Goods does not apply.
16.2 The parties shall try to settle any dispute amicably within 15 days of written notice. This does not apply to claims for payment of invoices, urgent interim relief, or action needed to protect Goods or assets.
16.3 For Customers registered in the UAE, the courts of Dubai have exclusive jurisdiction, subject to clause 16.5.
16.4 For Customers registered outside the UAE, any dispute arising out of or in connection with the Contract, including its existence, validity or termination, is finally resolved by arbitration under the Arbitration Rules of the Dubai International Arbitration Centre (DIAC) in force when the arbitration starts, before a sole arbitrator. The seat of arbitration is the Dubai International Financial Centre (DIFC), and the language is English.
16.5 Despite clauses 16.3 and 16.4, MCB may at any time apply to any competent court for urgent interim or conservatory relief or to enforce an arbitral award. MCB alone may also bring a claim for unpaid sums, or to recover Goods, in the courts of the Customer’s place of registration or business, or of any place where it has assets.