Terms and conditions

1. Scope of application

1.1 These General Terms and Conditions of Sale (GTCS) apply to all our business relationships with our customers (‘purchasers’). The General Terms and Conditions of Sale only apply if the purchaser is an entrepreneur (Section 14 of the German Civil Code (BGB)), a legal entity under public law or a special fund under public law within the meaning of Section 310 (1) BGB.

1.2 Our General Terms and Conditions of Sale shall apply exclusively. Any of the Buyer’s general terms and conditions that differ from, conflict with or supplement these General Terms and Conditions of Sale shall only become part of the contract if and to the extent that we have expressly agreed to their application. This requirement of consent shall also apply if the Buyer refers to its general terms and conditions in the context of the order and we have not expressly objected to these general terms and conditions.

1.3 These General Terms and Conditions of Sale shall apply to contracts for the sale and/or delivery of movable items (‘Goods’). It is irrelevant whether we manufacture the Goods ourselves or purchase them from suppliers (Sections 433, 650 of the German Civil Code (Bürgerliches Gesetzbuch; BGB)). Unless otherwise agreed, the General Terms and Conditions of Sale shall apply in the version valid at the time of the buyer’s order or in the version last communicated to him in text form as a framework agreement for similar future contracts, without us as the seller having to refer to them again in individual cases.

1.4 Individual agreements made with the buyer in individual cases (including ancillary agreements, supplements and amendments) and information in our order confirmation take precedence over these General Terms and Conditions of Sale. Subject to proof to the contrary, a written contract or our written confirmation is decisive for the content of such agreements.

1.5 Legally relevant declarations and notifications by the buyer with regard to the contract (e.g. notifications of defects, setting of deadlines, withdrawal or reduction) must be made in writing, i.e. in written and text form (e.g. letter, email, fax). Further statutory formal requirements and further evidence (if necessary in the event of doubts as to the legitimacy of the declaring party) remain unaffected.

1.6 Insofar as references are made to the validity of statutory provisions, it should be noted that these are only included for the sake of clarity. The statutory provisions shall apply – even if no corresponding clarification has been made – within the limits in which they are not modified or excluded by the General Terms and Conditions of Sale.

2. Offer and Conclusion of Contract

2.1 Our offers are subject to change and non-binding. This also applies if we have provided the buyer with catalogues, technical documentation (e.g. drawings, plans, calculations, calculations, references to DIN standards) and other product descriptions or documents (including in electronic form). We reserve ownership and copyrights to all documents provided to the buyer in connection with the placing of the order. These documents must not be made accessible to third parties unless we have given the buyer our express written consent to do so.

2.2 When the buyer orders the goods, this constitutes a non-binding offer of a contract in accordance with § 145 BGB (German Civil Code). Unless otherwise stated in the order, we are entitled to accept this offer of a contract within two weeks of its receipt by us.

2.3 The Buyer’s acceptance of the offer of a contract can be declared either in writing (e.g. by means of an order confirmation) or by delivery of the goods to the Buyer. In the event that we, as the Seller, do not accept the Buyer’s offer within the period specified in Section 2.2, any documents sent to the Buyer shall be returned to us immediately.

3. Prices and payment terms

3.1 Unless otherwise agreed in writing in individual cases, our prices ex warehouse current at the time of conclusion of the contract shall apply, plus statutory value added tax. Packaging costs shall be invoiced separately. Unless a fixed price has been agreed, we reserve the right to make reasonable price changes due to changes in wage, material and distribution costs for deliveries made three months or more after conclusion of the contract.

3.2 In the context of a sale to destination, the buyer shall bear the transport costs ex warehouse and the costs of any transport insurance requested by the buyer. In the event that we do not charge the transport costs incurred in the individual case, we shall charge a flat-rate transport cost (excluding transport insurance) in the corresponding amount. Any customs duties, fees, taxes and other public charges shall be borne by the buyer.

3.3 Payment of the purchase price shall be made exclusively to the account specified overleaf. The deduction of discount is only permissible if specifically agreed in writing.

3.4 Unless otherwise agreed, the purchase price shall be due and payable within fourteen days of the invoice date and delivery or acceptance of the goods. However, we shall be entitled at any time, even in the context of an ongoing business relationship, to make a delivery in whole or in part only against advance payment. We shall declare a corresponding reservation at the latest with the order confirmation.

3.5 The buyer shall be in default when the above payment period expires. During the period of default, interest shall be paid on the purchase price at the respectively applicable statutory default interest rate in accordance with § 288 (2) BGB in the amount of nine percentage points above the respective base interest rate (see Appendix 1). We reserve the right to claim further damages for default. Our claim for commercial interest after the due date against merchants remains unaffected in accordance with § 353 HGB.

3.6 If, after the contract has been concluded, it becomes apparent that our claim to payment of the purchase price is at risk due to the buyer’s inability to pay (e.g. due to an application for the opening of insolvency proceedings), we shall be entitled to refuse performance in accordance with the statutory provisions and, if necessary after setting a deadline, to withdraw from the contract (Section 321 BGB). In the case of contracts in which the manufacture of specific items (custom-made items) is owed, we may immediately declare a withdrawal. The statutory provisions on the dispensability of setting a deadline remain unaffected in this respect.

4. Rights of retention

The buyer shall only be entitled to rights of retention or set-off if its claim has been legally established or is undisputed and its counterclaim is based on the same contractual relationship. In the event that defects occur in the scope of delivery, the buyer’s counterclaims, in particular in accordance with clause 8.6 sentence 2 of these General Terms and Conditions of Sale, shall remain unaffected.

5. Delivery period and default in delivery

5.1 The delivery period shall be agreed individually or stated by us when we accept the order. If this is not the case, the delivery period shall be approximately [ ] weeks from the conclusion of the contract.

5.2 In the event that we are unable to meet contractually agreed delivery times for reasons for which we are not responsible, we shall inform the buyer of this circumstance without delay and at the same time notify the buyer of the expected or new delivery time. If a delayed delivery cannot be made due to non-availability of the service even within the newly announced delivery period, we are entitled to withdraw from the contract in whole or in part; we shall immediately reimburse any consideration already provided by the buyer (in the form of payment of the purchase price). The service is deemed unavailable, for example, if our supplier has failed to deliver to us on time, if we have concluded a congruent hedging transaction, if there are other disruptions in the supply chain (e.g. due to force majeure) or if we are not obliged to procure in an individual case.

5.3 Whether or not we, as the seller, are in default of delivery shall be determined in accordance with the statutory provisions. However, a reminder from the buyer is a prerequisite for us, as the seller, to be in default of delivery. In the event of default of delivery, the buyer may claim liquidated damages for the loss caused by the default. The flat-rate compensation shall be 0.5% of the net price (delivery value) for each full calendar week of delay, but not more than 5% of the delivery value of the goods delivered late. We reserve the right to provide appropriate proof that the buyer has not incurred any damage or only a smaller damage than the above flat rate.

5.4 The rights of the buyer according to Section 9 of these General Terms and Conditions of Sale and our legally standardised rights, in particular in the event of an exclusion of the performance obligation (e.g. due to impossibility or unreasonableness of performance and/or subsequent performance), remain unaffected.

6. Delivery, Transfer of Risk, Acceptance, Default of Acceptance

6.1 Delivery is ex warehouse. The warehouse is also the place of performance for the delivery and the place for any subsequent performance. In the event that the buyer wishes the goods to be sent to a different destination (sale to destination), the buyer shall bear the costs of shipment. In the event that nothing has been contractually agreed, we ourselves can determine the type of shipment (packaging, shipping route, transport company).

6.2 The risk of accidental loss and accidental deterioration of the goods shall pass to the buyer upon delivery of the goods to the buyer. In the case of a sale to destination, the risk of accidental loss of the goods, accidental deterioration of the goods and the risk of delay shall pass to the buyer upon delivery of the goods to the carrier or freight forwarder. In the event of a contractual agreement for acceptance of the goods, this is decisive for the transfer of risk. Further legal provisions of the law on contracts for work and services remain unaffected. If the buyer is in default of acceptance, this is deemed equivalent to handover or acceptance of the goods.

6.3 In the event that the buyer is in default of acceptance or if our delivery is delayed for other reasons for which the buyer is responsible, we shall be entitled to claim compensation from the plaintiff for the damage incurred, including additional expenses (e.g. storage costs). If this is the case, we shall charge the buyer a flat-rate compensation in an appropriate amount per calendar day (starting with the delivery period or, if no delivery period has been determined, with the notification that the goods are ready for dispatch). This shall not affect our statutory claims (reimbursement of additional expenses, appropriate compensation, termination) or our right to prove higher damages.

6.4 The right to prove greater damage and our statutory claims (in particular reimbursement of additional expenses, reasonable compensation, termination) remain unaffected; however, the lump sum is to be offset against further monetary claims. However, the buyer reserves the right to prove that we have incurred no damage at all or only significantly less damage than the above lump sum.

7. Retention of title

7.1 We reserve ownership of the delivered goods until full payment of all our current and future claims arising from the purchase contract and an ongoing business relationship (secured claims).

7.2 Until full payment of the secured claims has been made, the goods subject to retention of title may neither be pledged to third parties nor transferred by way of security. The buyer must notify us in writing without delay in the event of an application being made to open insolvency proceedings or if third parties access the goods belonging to us (e.g. seizures). If the third party is unable to reimburse us for the judicial and extrajudicial costs of a lawsuit in accordance with § 771 ZPO, the buyer shall be liable for the loss incurred by us.

7.3 In the event of a breach of contract by the buyer, in particular non-payment of the due purchase price, we shall be entitled to withdraw from the contract in accordance with the statutory provisions and/or demand the return of the goods on the basis of the reservation of title. The demand for surrender does not automatically imply a declaration of withdrawal; rather, we are entitled to demand only the surrender of the goods and reserve the right to withdraw from the contract. In the event that the buyer does not pay the due purchase price, we must have unsuccessfully set the buyer a reasonable deadline for payment before asserting these rights. This shall only apply if such a deadline is not dispensable under the statutory provisions.

7.4 The buyer is authorised until further notice in accordance with section 7.4.c to resell and/or process the goods subject to retention of title in the ordinary course of business. In this case, the following provisions shall apply in addition:

  1. a) The products of our goods that arise through combination, mixing or processing are subject to retention of title at their full value, whereby we are considered the manufacturer. In the event that, in the case of combination, mixing or processing with the goods of third parties, the ownership rights of the latter remain in force, we shall acquire co-ownership in the ratio of the invoice values of the combined, mixed or processed goods. Otherwise, the same applies to the resulting product as to the goods delivered under retention of title. The buyer also assigns to us, for security purposes, those claims that arise against a third party as a result of the connection of the goods subject to retention of title with a property. We accept the assignment in this case.
  2. b) The purchaser hereby assigns to us, in advance and for security purposes, all claims against third parties arising from the resale of the goods or products, either in full or in the amount of our co-ownership share, if applicable, in accordance with Section 7.4.a, up to the amount of the final invoice amount agreed with us (including value added tax). We accept the assignment. The obligations of the buyer listed in clause 7.2 shall also apply in view of the assigned claims.
  3. c) The buyer remains authorised to collect the claim alongside us. As long as the buyer meets his payment obligations to us, there is no lack of ability to pay on the part of the buyer and we do not assert the reservation of title by exercising a right in accordance with clause 7.3, we undertake not to collect the claim. If we do assert the exercise of a right in accordance with Section 7.3, we may demand that the buyer disclose the assigned claims and their debtors, as well as provide all information necessary for collection, hand over the relevant documents and notify the debtors (third parties) of the assignment. Furthermore, we are entitled to revoke the buyer’s authorisation to resell and process the goods subject to retention of title.
  4. d) In the event that the realisable value of the securities exceeds our claims by more than 10%, we shall release securities of our choice at the buyer’s request.

7.5 The buyer is obliged to treat the purchased item with care as long as ownership has not yet been transferred to him. In particular, he is obliged to insure it sufficiently at his own expense against theft, fire and water damage at replacement value (Note: only permissible for the sale of high-quality goods). If maintenance and inspection work is required, the buyer must carry this out in good time at his own expense.

8. Claims for defects by the buyer

8.1 The rights of the buyer in the event of material defects and defects of title (including wrong and short delivery as well as improper assembly/installation or defective instructions) shall be governed by the statutory provisions, unless otherwise specified below. The statutory provisions on the purchase of consumer goods (Sections 474 et seq. of the German Civil Code (BGB)) and the rights of the buyer under separately issued guarantees, in particular from the manufacturer, remain unaffected.

8.2 Agreements that we have made with buyers regarding the nature and intended use of the goods (including accessories and instructions) regularly form the basis of our liability for defects under the warranty. An agreement on quality includes all product descriptions and manufacturer’s specifications that are the subject of the individual contract or that we (in particular in catalogues or on our website) had made public at the time of the conclusion of the contract. In the event that no quality has been agreed, the question of whether a defect exists shall be assessed in accordance with the provisions of Section 434 (3) of the German Civil Code (BGB). In this context, it should be noted that public statements made by the manufacturer in the context of advertising or on the product label take precedence over statements made by other third parties.

8.3 For goods with digital elements or other digital content, it should be noted that we are only obliged to provide and update the digital content if this is expressly stated in a quality agreement in accordance with Section 8.2. We do not assume any liability for public statements made by the manufacturer or other third parties.

8.4 We shall not be liable for defects of which the buyer was aware at the time of conclusion of the contract in accordance with § 442 BGB or was not aware due to gross negligence.

8.5 The buyer shall only be entitled to claims for defects if the buyer has fulfilled his statutory inspection and notification obligations (§§ 377, 381 HGB). If the goods are building materials or other goods intended for installation or other further processing, an inspection must be carried out immediately before processing. Written notification must be sent to us without delay if a defect becomes apparent during delivery, inspection or at a later point in time. Obvious defects must be reported in writing within
2 working days of delivery and non-recognisable defects within the same period of time of the defects being detected. In the event that the buyer fails to meet or does not meet its obligation to properly inspect and/or report defects, we shall not be held liable for the defect that was not reported or not reported in a timely manner or properly in accordance with the statutory provisions. If the goods were intended for installation, mounting or fitting, this shall also apply if the defect only became apparent after the corresponding processing as a result of non-compliance with or breach of one of these obligations. In this case, the buyer shall not be entitled to claim compensation for ‘installation and removal costs’.

8.6 If the delivered goods are defective, we, as the seller, have the right to choose whether we provide subsequent performance by remedying the defect (rectification) or by delivering a defect-free item (subsequent delivery). In the event that the type of subsequent performance chosen by us is unreasonable for the buyer in individual cases, the buyer can refuse it. However, we reserve the right to refuse subsequent performance under the statutory conditions. In addition, we are entitled to make the subsequent performance dependent on the buyer paying the purchase price due. However, the buyer has the right to withhold a reasonable portion of the purchase price in relation to the defect.

8.7 The buyer shall grant us the necessary time and opportunity for the subsequent performance to be rendered. In particular, the buyer shall hand over the item for which it has asserted a defect for inspection purposes. In the event that we make a subsequent delivery of a defect-free item, the buyer shall return the defective item to us in accordance with the statutory provisions. However, the buyer shall not be entitled to a claim for return.

8.8 Unless we have contractually undertaken to do so, the subsequent performance shall not include the removal, disposal or de-installation of the defective item, nor the installation, fitting or installation of a defect-free item. The buyer’s claims for compensation for ‘installation and removal costs’ shall remain unaffected.

8.9 We will reimburse the expenses necessary for inspection and subsequent performance (transport, labour and material costs, as well as any dismantling and installation costs) in accordance with the statutory provisions and these General Terms and Conditions of Sale in the event of a defect. However, we may demand that the buyer reimburse us for costs incurred as a result of an unjustified request to remedy a defect in the event that the buyer knew or should have realised that there was no defect.

8.10 The buyer has the right to rectify the defect itself and to demand compensation for the expenses objectively required for this if there is an urgent case (e.g. in the event of a risk to operational safety or to prevent disproportionate damage). The buyer must inform us immediately in the event of self-remedy. In the event that we would be entitled to refuse subsequent performance in accordance with the statutory provisions, the buyer shall have no right to self-performance.

8.11 The buyer may withdraw from the purchase contract or reduce the purchase price in accordance with the statutory provisions if a period to be set by the buyer for subsequent performance has expired without success or is dispensable under the statutory provisions. However, the buyer shall have no right of rescission in the event of a minor defect.

8.12 Claims of the buyer for reimbursement of expenses pursuant to Section 445a (1) BGB are excluded, unless the last contract in the supply chain is a consumer goods purchase (Sections 478, 474 BGB) or a consumer contract for the provision of digital products (Sections 445c sentence 2, 327 (5), 327u BGB).

8.13 Claims for damages or claims for reimbursement of wasted expenditure by the buyer (Section 284 BGB) shall only exist, even in the event of a defect, in accordance with Clauses 9 and 10.

9. Limitation

9.1 The general limitation period for claims resulting from material defects or defects of title shall be one year from delivery, notwithstanding § 438 paragraph 1 no. 3 BGB. In the event that acceptance has been contractually agreed, the limitation period shall commence upon acceptance.

9.2 The statutory period of limitation shall be five years from delivery (Section 438, paragraph 1, no. 2 BGB) in the event that the goods are a building or an item that has been used for a building in accordance with its usual purpose and has caused the defectiveness of the building (building material). This applies subject to the further special statutory provisions on the statute of limitations (in particular Section 438 (1) no. 1, (3), Sections 444, 445b BGB)

9.3 The above limitation periods under sales law also apply to the buyer’s contractual and non-contractual claims for damages based on defective goods, unless the application of the regular statutory limitation period in accordance with §§ 195, 199 BGB would lead to a shorter limitation period in individual cases. Claims for damages by the buyer in accordance with sections 10.1 and 10.2.a) as well as those under the Product Liability Act shall become time-barred exclusively in accordance with the statutory limitation periods.

10. Other liability

10.1 We as the seller shall be liable, unless otherwise provided in these General Terms and Conditions of Sale, including the following provisions, in the event of breaches of contractual and non-contractual obligations in accordance with the statutory provisions.

10.2 Within the scope of fault-based liability, we shall be liable, regardless on what legal grounds, for damages only in the event of intent or gross negligence. In the event of simple negligence, we shall be liable, subject to statutory limitations of liability (e.g. care in our own affairs; minor breach of duty), only:

  1. a) for damages resulting from injury to life, limb or health,
  2. b) for damages resulting from the breach of a material contractual obligation (obligations whose fulfilment is essential to the proper performance of the contract and on whose compliance the contractual partner relies and may rely). However, our liability in this case is limited to compensation for foreseeable, typically occurring damages.

10.3 The liability restrictions arising in accordance with figure 10.2 also apply to third parties and to breaches of duty by persons for whose fault we are responsible according to legal regulations. Insofar as a defect has been fraudulently concealed and a guarantee for the quality of the goods has been assumed, the liability restrictions do not apply. This also applies to claims of the buyer according to the product liability law.

10.4 The buyer can only withdraw from or terminate the contract due to a breach of duty that does not result from a defect in the event that we, as the seller, are responsible for the breach of duty.

10.5 The Buyer shall have no right of termination (in particular under §§ 650, 648 BGB). Otherwise, the statutory requirements and legal consequences shall apply.

11. Choice of law and place of jurisdiction

11.1 These General Terms and Conditions of Sale and the contractual relationship between us as Seller and the Buyer shall be governed by the law of the Federal Republic of Germany, excluding international uniform law, in particular the UN Convention on Contracts for the International Sale of Goods.

11.2 If the buyer is a merchant within the meaning of the German Commercial Code, a legal entity under public law or a special fund under public law, our place of business in [ ] is the exclusive and also international place of jurisdiction for all disputes arising directly or indirectly from the contractual relationship. The same applies if the buyer is an entrepreneur within the meaning of § 14 BGB (German Civil Code).

11.3 We are also entitled to bring an action at the place of performance of the delivery obligation in accordance with these General Terms and Conditions of Sale or a prior individual agreement, or at the buyer’s general place of jurisdiction. This does not affect overriding statutory provisions (exclusive places of jurisdiction).

Appendix 1: Notes

The form is based on the use of the General Terms and Conditions of Sale (GTCS) exclusively with respect to companies within the meaning of Section 14 of the German Commercial Code (HGB). In this respect, there is generally more leeway for the design of general terms and conditions than is the case for the purchase of consumer goods, which is already largely subject to mandatory individual contractual provisions under Section 475 of the German Civil Code (BGB). The General Terms and Conditions of Sale are designed in such a way that they can be used by both manufacturers and intermediaries. This also applies in the case of products (including digital products) intended for sale to (end) consumers. The General Terms and Conditions of Sale are designed to be comprehensive and must therefore be adapted to the respective individual case.

If the user of the General Terms and Conditions of Sale regularly enters into contracts with companies and consumers, care should be taken to either use separate forms or to refrain from using general terms and conditions when dealing with consumers.

The reform of the law of obligations in 2022, which is based on the implementation of the Digital Content Directive (DCD) and the Sales of Goods Directive (SGD), focuses entirely on the purchase of consumer goods and the provision of digital products to consumers. In the event that the general law on sales and questions of recourse in the supply chain are affected, this is taken into account at the appropriate place in the General Terms and Conditions of Sale and the respective comments (in particular on liability for defects).

The prohibition of clauses in §§ 308 and 309 BGB applies indirectly in business-to-business (B2B) legal relations via the general clause of § 307 (1) and (2) BGB (Section 310 (1), sentence 2 BGB). In this context, the habits and customs applicable in commercial transactions must be taken into account appropriately. In order to ensure that the general terms and conditions are as secure as possible, they should be based on the standard applicable to consumer contracts, i.e. the express prohibitions of clauses in §§ 308 and 309 BGB. In this context, it should be noted, in accordance with the case law of the Federal Court of Justice, that the prohibitions of clauses in Section 309 of the German Civil Code, which do not allow for direct judicial assessment due to their rigid wording, have an indicative effect for commercial legal transactions.

Transparency requirement

This requirement means that, in case of doubt, a clause in the general terms and conditions is also unreasonably disadvantageous if it is not clear and comprehensible. This requirement means that non-transparent clauses are to be considered invalid per se, without the occurrence of unreasonable disadvantage to the contractual partner in terms of content. Furthermore, this also means that the transparency requirement also applies to price provisions and clauses describing services, which are generally excluded from the content control.

Warranty periods

The warranty period for purchase and service contracts is 2 years. The warranty period can be shortened as follows by means of general terms and conditions:

Movable property other than building materials

Building materials (if installed)

Undeveloped properties: none

Structures

Reimbursement of expenses for subsequent performance

In accordance with § 439 para. 2 BGB, the seller has to bear the expenses necessary for the purpose of subsequent performance (e.g. transport, travel, labour and material costs). This obligation may not be excluded by terms and conditions.

Liability for defects – seller must cover removal and installation costs

The legal provision for subsequent performance in accordance with Section 439 (3) sentence 1 of the German Civil Code (BGB) states that the seller is obliged, as part of the subsequent performance, to reimburse the buyer for the necessary expenses for the removal and installation or the attachment of the defect-free item if the buyer has installed the defective item in another item or attached it to another item in accordance with its nature and intended use. Pursuant to Section 445a BGB, the seller can also take recourse against its supplier. However, the seller is only liable if the buyer was acting in good faith. The rights of the buyer are therefore excluded if the buyer was aware of the defect at the time of installation or was not aware of it due to gross negligence.

Amendments to the warranty law

The legal reforms in the context of the law on warranties for material defects due to the implementation of the DIRL and WKRL on 1 January 2022 are focused entirely on consumer contracts. Despite the equal ranking of subjective and objective defect concepts now prescribed in Section 434 of the German Civil Code and the complexity of the individual provisions, there are no significant changes compared to the previous legal situation in business-to-business transactions. In particular, B2B continues to have the option of making arrangements that deviate from the objective quality standard by means of specific (including negative) quality agreements, which may also relate to the presumed use of the product. Special features, particularly with regard to liability for goods with digital elements in the supply chain, have been taken into account.

Limitation to subsequent performance

In the event of a defective item, the buyer can, at his discretion, demand that the defect be remedied or that a defect-free item be delivered, or, if the conditions are met, compensation. Only if the subsequent performance is unsuccessful, impossible or unreasonable can the buyer – as a second step – assert warranty rights. This clause assigns the seller the right to choose the type of subsequent performance, in deviation from § 439 (1) BGB. The admissibility of this right of choice is supported above all by the fact that the seller or the manufacturer regularly engaged by him is closer to the matter than the buyer, which is why the entrepreneur’s right of choice is even provided for by law in the case of a contract for work and services (Section 635 (1) BGB). This model can also be applied to purchase contracts between entrepreneurs, within the bounds of reasonableness.

Limitation of liability

Any exclusion or limitation of liability for damages arising from injury to life, limb or health that are based on an intentional or negligent breach of duty by the user or an intentional or negligent breach of duty by a legal representative or vicarious agent of the user is invalid.

Interest on arrears

From the beginning of the default, the buyer owes the seller interest on arrears in addition to the purchase price. If a consumer is involved in the purchase contract, whether as buyer or seller, the interest rate is 5% above the base rate. For purchase contracts between companies, the interest rate is 9% above the base rate.