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The merchandise shall remain our property until full payment of all outstanding debts, including accessory claims, claims for damages, claims arising in the future, and cashing of cheques and bills of exchange (simple retention of title). Upon release by us, the buyer shall be entitled to process and dispose of the merchandise, taking the following provisions into account (transfer of ownership by way of security):

The buyer exclusively shall be obliged to verify the suitability of the merchandise (special items) for the purpose intended by the buyer. We shall assume no liability for damages because of unsuitability for the purpose of use; replacement, in particular of processing costs and consequential damages, shall be excluded.

Notwithstanding a revocation by the seller which is permissible at any time, the buyer’s entitlement to process goods sold subject to retention of title within the ordinary course of business shall end upon the occurrence of financial difficulties (buyer’s crisis). In the event of cessation of payments or insolvency of the buyer (filing for bankruptcy), the entitlement to process the merchandise shall expire.

Last Updated on Thursday, 02 July 2009 11:40