Payment

1. Payment terms

Unless otherwise agreed, Buyer shall make payment for the Product against Seller’s invoice not later than thirty (30) days from the date of the invoice. Seller reserves the right to require full or partial payment from Buyer in advance.

2. Late payment

If Buyer is in delay of payment, Seller shall be entitled to delay interest on the amount due at an interest rate of 1,5 % per month of delay, as from the due date until full payment is made.

Irrespective of the reason for Buyer´s failure to pay in due time, Seller shall be entitled to withhold its performance as regards further deliveries etc. for as long as such payment failure exists and subject to written notice to Buyer.

Seller may terminate the Agreement if Buyer fails to make payment within three (3) months of the due date or if it is clear that Buyer will not be able to pay. In the event of termination due to Buyer’s payment failure, Seller shall be entitled to damages for any loss suffered as result hereof.

3. Repossession

Seller is the owner of the Product until it has been paid in full by Buyer. Seller shall be entitled to repossess the Product in the event of termination under point 2.