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As soon as the buyer has ceased to make payments, i. e. immediately after announcement of the cessation of payments, the buyer shall be obliged to provide us with a list of the remaining goods sold subject to retention of title, also to the extent that they have been processed, and with a list of the claims against third-party debtors plus the copies of the invoices.

If we take back the delivered goods based on our retention of title, this shall constitute a cancellation of the contract.

The buyer shall hold the goods sold subject to retention of title in custody for us. It shall insure them against fire, theft, and water damage. To the amount of our claim, the buyer hereby assigns to us its claims for compensation due to it for damages of the aforementioned kind from insurance companies or other parties liable. We accept this assignment.

Last Updated on Thursday, 02 July 2009 11:40