Note 15 - Provisions
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Legal |
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Right of |
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claims |
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return |
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Warranty |
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Total |
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(in thousands) |
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Balance as of January 1, 2017 |
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282 |
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394 |
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1,970 |
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2,646 |
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Provision made during the period |
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350 |
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454 |
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178 |
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982 |
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Provisions used during the period |
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(170) |
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(51) |
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(1,012) |
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(1,233) |
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Changes in respect of foreign exchange differences |
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20 |
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44 |
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143 |
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207 |
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Balance as of December 31, 2017 |
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482 |
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841 |
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1,279 |
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2,602 |
Legal claims
See Note 24.
Right of return
The Group sells certain specific products with an unlimited right of return that entitle customers to a refund. In the opinion of the management of the Company, appropriate provisions have been included in the financial statements to cover the estimated refund obligations. The estimation was based on previous experience and relevant management assumptions.
Warranties
The Group provides a limited warranty for products sold to customers.