V. Reservation of Property
1) The delivered goods (proviso goods) remain our property until fulfilment of all demands entitled to us resulting from this business. The delivered goods / proviso goods have to be stored separately from the buyer’s other goods, have to be marked on our demand and have to be insured against fire at the expenses of the buyer.
2) During the existing reservation of property the buyer is only authorized to resell the delivered goods / proviso goods in orderly business against cash payment or provided that the property only passes over to the customer, if the customer has paid to the buyer. Any mortgage or preventive transference is prohibited to the buyer.
3) By this the buyer cedes the demands resulting from the resale of the delivered goods / proviso goods amounting to the value of the proviso goods to us as prevention. He is obliged to inform us – on requirement - about the names of third-debtors and about the amount of these demands; we accept this cession. Until further notice the buyer is authorized to collect the ceded purchase-price-demands as long as he carries out his obligations with us. All costs resulting from the collection of the ceeded purchase-price-demands have to be born by the buyer. If the value of the prevention exceeds the amount of our demands by more than 20 % we are – on requirement of the buyer – obliged to reimburse accordingly.
4) If the buyer combines or processes the delivered goods with other objects we acquire for the prevention of our claims, indicated under item 1, a co-property which is transferred to us already now. The buyer will keep the goods subject to our co-property free of charge. The amount of our part of co-property is determined by the proportion of the value of our good or of the good resulting from processing or combination.
5) In case of access of third parties – in particular bailiffs – to the proviso goods the buyer will point out to our property and inform us immediately.
6) In case of opening insolvency procedure, payment stop, moratorium, default of payment or any other endangering of fulfilment we can take back he goods at the buyer’s expenses, without granting the buyer the right of withholding the goods, unless this right is based on the same single-contract relation from which results the right of handing over. We have the right to sell the taken back proviso goods by means of auction or over-the-counter and to balance the profit against the existing demands. Furthermore we are allowed to retreat from the contract completely or partly without any time setting but the buyer is liable for any expenses and a possibly occurring depreciation of the goods.
7) In case of breach of duty of the buyer, especially in case of default of payment we have the right to take back the proviso goods being our property. The buyer is obliged to hand over the goods. He has to pay the expenses for the taking back.
8) Consigned goods remain our full property. They only can be disposed at with our prior acceptance. A possible statutory period of limitation only starts according to our calculation. After sale payments become due immediately. Any valutation concluded at placing is then annulled.