Shipping and payment terms

Shipping

Shipment shall be made at our discretion, but without guarantee for the cheapest freight. All shipments, including any returns, are at the expense and risk of the buyer, unless otherwise agreed. Insurance is at his request and at his expense.

Prices and terms of payment

The prices are in EURO without value added tax. Unless another method of payment has been agreed, the invoice amount shall be due for payment without any deduction 30 days after issuance of the invoice, irrespective of any notices of defects. In case of advance payment in cash, cash on delivery and cash payment within 10 days, the agreed discount rate shall be granted. Partial payments shall not be considered as cash payments. Cheques and acceptances are only accepted on account of payment, the latter only on the basis of special agreements. Costs of bills of exchange and discount charges shall be borne by the purchaser. No guarantee is assumed for the timely presentation and submission of bill protests. Payments shall only be deemed to have been made on the day on which we can dispose of the invoice amount without loss. Withholding of payments or offsetting on the part of the buyer with any counterclaims is not permitted. Payments to employees shall only have the effect of discharging the debt if they are legally authorized to receive them from us. In the event of default in payment, subject to the assertion of further damages, interest on arrears shall be payable from the due date at a rate of 5% above the respective Bundesbank discount rate. If the purchaser is in default with the payment of an invoice, all his liabilities become due immediately and we can demand cash payment for the outstanding deliveries before delivery of the goods, with forfeiture of the term of payment. Cessation of payments, bankruptcy as well as seeking a settlement on the part of the buyer. Default in payment shall occur upon maturity of our claim without the need for a reminder. The prices invoiced by TERRAX shall be reduced by the corresponding flat-rate amount for the disposal of the transport packaging in the calculation. This calculation shall not be shown separately on the invoice.