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Retention of Title
All goods shall remain our company’s* property until the full payment of the purchase price. If the goods subject to retention are resold the customer shall hereby assign its receivables from the relevant purchase agreement up to the amount of our company’s receivables outstanding from this delivery to our company. The customer shall be obligated to this end to notify our company of its buyer. Payments the customer receives from its buyer shall be promptly passed on to our company. If the goods supplied under reservation of title are altered or processed by the customer then the retention of title shall also extend to the resulting newly created object. Our company shall acquire joint ownership in the newly created object. The customer shall not be entitled to pawn the goods subject to retention of title to third parties or transfer ownership for the purposes of security or dispose of these goods in another manner to the benefit of a third party. The customer shall be obligated to notify our company as quickly as possible of third party accesses to the delivered goods subject to retention of title. In the event of distraint or another claim by third parties the customer shall indicate our company’s ownership of the goods. In the event of late payment, faulty storage and similar grounds our company shall be entitled to demand the return of the goods subject to retention of title. If the goods are surrendered the buyer shall be obligated to compensate for expenses and the freight-paid return and any reduced values.
*Planet Retro / Hartmann Design)