AGB - Conditions

 

5. Retention of title

 

5.1
The delivered goods shall remain the property of GM until the purchase price has been paid in full, together with any interest on arrears already accrued, dunning and collection charges, as well as other costs. The customer must adequately insure the goods subject to retention of title. The customer is not entitled to pledge the reserved goods or to assign them as security.

5.2
The customer is entitled to process and resell the reserved goods within the scope of the usual scope of his business activities, as long as he is not in default of payment. If the reserved goods are processed by the customer into a new product, such processing is carried out by the customer for GM. If the reserved goods are processed by the customer together with other products owned by third parties, GM acquires co-ownership of this new product in accordance with the value of the reserved goods.

5.3
The customer hereby assigns his claims against third parties arising from the resale of the reserved goods to GM as security (extended retention of title). GM accepts the assignment. In the event of further processing of the reserved goods with other products, the customer assigns to GM the claims arising from the resale of the new product in the amount of the invoice value of the reserved goods. The customer is authorized to collect this claim(s). GM may limit or revoke the customer’s collection authority on the basis of legitimate interests, in particular in the event of the customer’s default in payment. GM may demand that the customer inform him of the assigned claims and their debtors, provide all information required for collection, hand over the associated documents and inform the debtors of the assignment. At the request of the customer, GM shall release the claims assigned as security to the extent that GM’s interest in security ceases to exist. The hedging interest is not applicable if the realizable value of the receivables does not only temporarily exceed the coverage limit of the secured receivables. It is assumed that the coverage limit will be reached if the expert estimate of the claims corresponds to 150% of the secured claims at the time of the release request. Proof of another realizable value of the claims assigned for security remains possible.

 

5.4

The customer is obliged to make the reservation of title as well as the security assignment indicating book notes and to immediately notify GM of third party access (in particular seizures) to reserved goods or assigned claims. Likewise, the assignment of the customer’s claim to GM must be made and documented in the manner required by the applicable provisions (e.g., book note), to prove the performance to GM and to inform the contractual partner of the customer at the request of GM at the latest on the date of invoicing to the customer. If the customer violates his obligation to immediately notify GM in the event of access by third parties, GM is entitled to assert all claims against the customer immediately.