Payment terms

All prices indicated mean net plus statutory VAT. Changes in the cost structure prior to delivery entitle us to corresponding price adjustments according to our equitable discretion if more than two months have passed between conclusion of the contract and delivery. Invoices are payable within eight days of their issue date with a 2% early payment discount and within 30 days from the date of issue of the invoice net. Invoices for preliminary costs are due immediately net cash. Thereafter the Buyer is deemed to be in arrears without a separate reminder. For the duration of arrears, late payment interest in the amount of 8 per cent points above the base lending rate p.a. is charged. Setoff or the assertion of a right of retention is only allowed if the counterclaims are undisputed or have been confirmed by a final, non-appealable court judgement. In case of tangible indications of any impending lack of solvency or a deterioration of the Buyer's creditworthiness, we may make further processing of the order and further deliveries dependent upon prepayment or collateralisation of the purchase price.