Common use of Prices, Terms of Payment Clause in Contracts

Prices, Terms of Payment. a) The price stated in the issued order is binding and encompasses, unless explicitly excludes, the VAT, all services and additional services of the Contractor and incidental expenses (e.g. for packaging and transport). Down payments and installment payments are made only if specifically agreed to in writing. b) Invoices shall be sent to the Finance department of the Buyer and shall include the order number of the Buyer and that of the Supplier. c) Buyer shall make payment for invoices received pursuant hereto (or the undisputed portions of such invoices) within ninety (90) calendar days from receipt of a properly prepared invoice. Where, however, other payment terms appear on the front of any PURCHASE ORDER, or in the agreement signed with the Supplier, payment shall be made in accordance with those terms and conditions. d) The payment shall be made by bank transfer. e) Buyer is entitled to offset and retention within the statutory scope. In the event of poor performance, Xxxxx is especially entitled to withhold payment in accordance with the proportional value until proper fulfillment. Set-offs or the exercise of a right of retention by the Supplier due to counterclaims that are disputed or have not been legally established is excluded. The exercise of a right of retention by the Supplier is also excluded to the extent that the counterclaims do not rest upon the same contractual relationship. f) The Supplier is only authorized to transfer its claims from orders of the Buyer in whole or in part to third parties upon prior written consent of the Buyer. In connection with services, Buyer is entitled to transfer the rights and obligations, in particular to affiliated companies.