Common use of Prices and Payment Clause in Contracts

Prices and Payment. 1. Agreed prices are fixed prices. 2. The agreed prices shall apply at the time of delivery. 3. If no further individual price agreements are made, after expiry of a price agreement the last agreed price and the conditions agreed therein shall remain valid until the end of the spare parts supply period. 4. Payment is to be effected upon receipt of the goods in accordance with the contract, or upon clean acceptance of the service, and upon receipt of the correct and verifiable invoice. The date of receipt of delivery determines the payment and discounting periods for agreed crediting procedures; otherwise the later date of receipt of delivery and invoice. The date of acceptance shall apply to other services. After receipt of the invoice or acceptance of the service or when the goods are received payments shall be due on the 25th day of the month following delivery less 3% discount, or by special agreement. 5. In cases where premature delivery is accepted, payment becomes due in accordance with the agreed delivery date. 6. In the event of defective delivery the Buyer shall be entitled to withhold payment pro rata until correct performance is fulfilled. 7. The Buyer is entitled to offset his due counter-claims. 8. The Supplier shall not enforce any retention rights for deliveries of goods or rendering of work or services or revoke any right of use.