General terms and conditions for CrankWheel vendors

Last updated January 24th, 2023.

In this agreement, “we” and “ours” refers to CrankWheel ehf., an Icelandic corporation, and “you” refers to your organization that is a vendor of ours. “The parties” refers to CrankWheel ehf. and your organization.

In addition to normal business practices, and the laws of our jurisdiction (Iceland), you agree to be bound by these terms.

These terms are binding for any vendor of CrankWheel. The terms override any past and future agreements between CrankWheel and the vendor, unless such agreements are made in writing between the parties and such agreements specifically state that they override this agreement, by referring to its URL and last revision date.

No automatic renewal of invoiced memberships

Any membership or recurring payments that you collect by invoice, are non-binding for us until we have explicitly responded (by email or similarly in writing) that we accept the invoice, or we have paid the invoice. The only exception to this is if we have received a substantial portion of the value of what we are being invoiced for (30% or more) in which case we agree to pay for the portion of value delivered.

No membership shall be understood to be renewed until we accept your invoice, pay your invoice, or an officer of the company who has authority to sign for the company otherwise explicitly confirms that we wish to renew the membership.


The parties agree to first attempt to settle any disputes by means of arbitration, before seeking settlement through the courts of Iceland.