Payment details & options

Payment details

All invoices and entries for receivables will reflect the same date as that on which the related goods were sent. Unless otherwise agreed, the payment term is fourteen (14) days.
9.2 Without prejudice to its other rights under the terms and conditions and/or the law, the seller will have the right vis-à-vis the buyer that has not paid in time:
a. to demand immediate payment upon delivery of the goods to the buyer (cash-on-delivery basis) and/or security for the payment in respect of all current sales agreements;
b. to suspend the deliveries (as well as the production or the processing of the goods destined for delivery), without prejudice to its right to demand security for payment either simultaneously or at a later date. After the buyer has satisfied its obligations, the seller is entitled to implement a term of delivery that is necessary for the production or processing of the goods, in taking into account the possibilities available at the time within its company;
c. to terminate all or part of the relevant sales agreement by means of a written statement from the seller;
d. to terminate all or part of one or more or all of the current sales agreements in respect of which the buyer is not in default by means of a written statement from the seller;

The seller can only exercise the rights referred to under a, b and c if it has first given the buyer a period of five (5) days to satisfy its payment obligations yet the buyer still remains in default, whereas the right referred to under d will not (be able to) be exercised if the buyer has not satisfied the seller’s demand within ten (10) days to furnish security for the payment of the amount the buyer will owe pursuant to the aforementioned agreement(s). With the exception of the case in which the right to terminate is exercised, the seller may modify its choice from the rights it wishes to exercise as referred to in this article.

9.3 If information from a credit reference agency and/or the seller’s credit insurer demonstrates that the buyer is in default in respect of third parties and/or if it may not be considered creditworthy and/or is deemed insolvent, the seller is entitled to exercise the rights described to all the current sales agreements, to the extent these have not been fulfilled, and without being required to provide notice of de-fault.
9.4 If the buyer is declared bankrupt, petitions for or is granted a (temporary) suspension of payments, or other-wise loses the power to dispose of its company or assets, the seller is entitled to the rights described all the current sales agreements, to the extent these have not been fulfilled, and with-out being required to provide notice of default.
9.5 If payment has not been received by the due date, the buyer will owe the statutory rate of interest over the outstanding amount. If the seller must take action to collect a debt after the due date, the buyer will owe the extrajudicial costs.