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General conditions of sale

With reference to the full text of our general conditions of sale as indicated on e.g. our contracts of sale and invoices, we point out following conditions to the customer:

  1. Our bills are to be paid at Courtrai. Our drafts are no departure from this rule not even through domiciliation of drafts.
     
  2. In case of non-payment by the agreed date, interests are charged without any formal notice or summons being required. The rate of such interest will be of 1,5% above the market rate of interest at that time.
     
  3. In case of non-payment of the total or part of the amount when due without serious reasons, and after serving formal notice unsuccessfully, the balance due will be increased by 12%, with a minimum of € 100 and a maximum of € 1.500, even when time to pay has been granted.
     
  4. The Tribunal of Courtrai will be solely competent for judging all disputes or disagreements. The purchaser agrees that solely the Belgian law shall be applicable to this contract, with the exception of the provisions concerning reserved ownership.
     
  5. The title in the goods shall pass to the Buyer only when payment in full has been received by the Seller for all goods whatsoever supplied (and all services rende-red) at any time by the Seller to the Buyer. The Buyer shall permit the servants or agents of the Seller to enter on to the Buyer's premises and repossess the goods at any time prior thereto. As long as payment has not been effected the Buyer cannot sell, pledge or offer goods as guarantee of collateral security. Should the goods (or any of them) be converted into a new product, whether or not such conversion involves the admixture of any other goods or thing whatsoever and in whatever proportions, the conversion shall be deemed to have been effected on behalf of the Seller and the Seller shall have the full legal and beneficial ownership of the new products, but without accepting any liability whatsoever in respect of such converted goods in relation to any third party, and the Buyer hereby indemnifies the Seller in relation thereto. In case of non-payment at the due date and upon demand the Buyer must return forthwith to the Seller all merchandise unpaid for.