Tuesday, 11 Dec 2018
 
 
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By processing the goods sold subject to retention of title, the buyer who processes the merchandise for us shall not acquire ownership of the new item pursuant to section 950 BGB (German Civil Code). If the goods sold subject to retention of title are processed, mixed, or mingled with other items, we shall acquire co-ownership of the new item in proportion of the value of our goods sold subject to retention of title to the overall value.

The buyer shall assign to us the claim with all ancillary rights from the resale or fitting of the goods sold subject to retention of title, and proportionally also to the extent that the goods have been processed, mixed, or mingled, and we have acquired co-ownership of the same to the amount of the invoice value. From this assignment, a fraction of the respective demanded purchase price corresponding to the proportion of the invoice value of our goods sold subject to retention of title to the invoice value of the item shall be due to us.

If the buyer has sold this claim within the scope of genuine factoring, the buyer shall assign to us the claim against the factor taking its place. We shall accept this assignment. We shall not collect the assigned claim as long as the buyer meets its payment obligations.On request, the buyer shall be obliged to provide us with a list of the claims due to us with the names and addresses of the customers, the amounts of the individual claims, invoice dates, etc., to inform his customers of the assignment, and to furnish us with any and all information required to assert the assigned claims.
The buyer shall be entitled to collect the claims unless we instruct it otherwise.
The buyer authorises us to inform the customers of this assignment and to collect the claims ourselves as soon as the buyer is in arrears with any payment, or its financial position deteriorates in an essential manner.In this case, we may demand that the buyer allow us to have the list of assigned claims inspected by our representatives on the basis of the buyer’s accounting. Amounts received from assigned claims shall be kept separately for remittance.


Last Updated on Thursday, 02 July 2009 11:40