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PAYMENT, RETENTION OF TITLE AND SECURITY
If the buyer has an account with NORSE, the purchase price is due for payment according to the payment terms applicable to the buyer’s account. The last timely payment date appears in the invoice text. The purchase price is due for payment calculated from the specified delivery time (cf. section on delivery), regardless of whether the buyer’s circumstances mean that the delivery cannot take place as agreed.
If the buyer’s payment(s) do not take place on time, and/or if the conditions for the agreed credit change significantly, NORSE is entitled to withhold all further deliveries to the buyer, regardless of whether the deliveries are interrelated. In the event of the buyer’s payment after the last due date of payment, interest on arrears is attributed to the overdue receivable, incl. VAT according to the Interest Act, unless a different interest rate follows from custom, custom or has been agreed. Accrued interest on arrears and any fees are due for payment immediately and are paid before all other debts in the current payments.
NORSE retains ownership of the goods sold, regardless of whether delivery has taken place, until the entire purchase price and any interest and/or fees have been paid. At any time in connection with or after the conclusion of the agreement, NORSE is entitled to demand from the buyer a satisfactory security for the purchase price, freight costs, the timely payment of interest and other costs. If payment is not made on time, NORSE is entitled to hand over any claim against the buyer to debt collection without notice. The buyer is obliged to pay the collection costs determined by the debt collector. NORSE is entitled to fully or partially transfer claims against the buyer to a third party without separately obtained consent from the buyer.