V. Retention of title
We retain the title to goods delivered until such time as payment has been made in full. In the event that the buyer fails to comply with the terms of the agreement, and especially if the buyer is in arrears with regard to payment, we are entitled to repossess goods already delivered and the buyer is obliged to hand over the said goods. The buyer is obliged to notify us as the supplier in writing and without delay of any seizure by way of distraint or any other such intervention.
The buyer is entitled to resell goods delivered with the context of the buyer’s normal business operation. The buyer hereby undertakes to assign to us any claims to which the buyer is entitled as a result of the said resale. The buyer is also entitled to proceed to collect the said claim. As the supplier we undertake not to collect any claims assigned to us by the buyer as long as the buyer continues to comply with the payment obligations incumbent upon the buyer under the terms of the agreement. As the supplier we are entitled to demand that the buyer should provide us with all of the information regarding the debtor as is necessary for us to be able to collect the claim in question and also that the debtor is to be notified of the fact that the claim has been assigned to us. In the event that goods delivered are resold together with other goods, the claim to which the buyer is thereby entitled is to be assigned to us to the extent necessary to cover our claim against the buyer.
The lead time commences from the date on which the confirmation of the order is issued or from the date on which all of the necessary supporting documents, technical specifications, go-ahead and any agreed down payment have been issued by the buyer, whichever is the later. The goods in question are considered to have been delivered once the goods have left our premises or once the buyer has been notified that the goods in question are ready for collection.