Common use of Terms of payment Clause in Contracts

Terms of payment. 5.1 Unless otherwise agreed, our invoices are due for immediate payment, without any deduction, to our place of business. Insofar as no diverging agreement has been made, the payment is to be made in EURO to the account stated by us. Costs relating to transfer, exchange and similar shall be borne by the Buyer. 5.2 If payment is not made when due, the Buyer has to pay interest according to Art. 288 § 2 German Civil Code (BGB). 5.3 The Buyer may only set off those claims which are undisputed or have been finally determined in a legally binding manner. In the event of set off in foreign exchange, this shall be made in accordance with the exchange rate set by the ECB at the time of set off or judgment.

Terms of payment. 5.1 Unless otherwise agreed, our invoices are due for immediate payment, without any deduction, to our place of business. Insofar as no diverging agreement has been made, the payment is to be made in EURO to the account stated by us. Costs relating to transfer, exchange and similar shall be borne by the Buyer. 5.2 If payment is not made when due, the Buyer has to pay interest according ac- cording to Art. 288 § 2 German Civil Code (BGB). 5.3 The Buyer may only set off those claims which are undisputed or have been finally determined in a legally binding manner. In the event of set off in foreign exchange, this shall be made in accordance with the exchange ex- change rate set by the ECB at the time of set off or judgment.