1. Sales shall be concluded at the price shown in the quotation if the latter is accepted within 30 days. All prices are exclusive of VAT and installation and commissioning costs.
The price shall be liable to increase if, during the period between ordering and delivery, wages or other factors that might affect the price (including tax rates, social security contributions, transport costs, prices of raw material, energy costs, exchange rates, etc), are subject to increase save where the goods are taken up within 30 days of order.
2. Unless otherwise stated in the quotation, all invoices shall be payable in cash. All payments shall be made at the registered office of MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V.
Invoices that have not been disputed by registered letter within 8 (eight) days of dispatch shall be deemed to be definitive.
The amount of any invoice that remains unpaid on that day shall be increased automatically and without notice of default by both late payment interest amounting to 1% per month and, without notice of default and, subject to a minimum of 50 euros, a fixed indemnification of 15% of the invoice amount. If relevant collection costs are greater, MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V. may collect same together with the customary interest thereon. MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V. may replace such interest by interest at the statutory rate. In addition, legal expenses incurred in the collection of outstanding invoices shall be chargeable to the customer.
3. Insofar as the customer does not comply with any term of payment or other obligation, MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V. shall be entitled to suspend or defer its obligations under other ongoing contracts between the parties. In addition, MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V. shall be entitled to require the necessary guarantees from the customer. Such guarantees shall act as suspensive conditions of the formation or further performance of the agreement.
4. Late payment of an invoice shall result in other invoices in respect of which a period of credit may have been allowed becoming payable immediately without prior notice of default.
Partial payments shall in the first instance be allocated to the payment of interest, indemnification compensation and any costs, and only thereafter to the outstanding invoice.
5. Any use of notes of hand, cheques or permission to draw bills of exchange in order to cover the agreed price shall in no event be regarded as a replacement for the debt under the original invoice and neither shall it negate any "retention of title", agreement or territorial jurisdiction.
6. The customer shall assign its claim to payment against any third party buyer to MEDICOR EUROPE AG & MEDICOR ITERNATIONAL N.V. at the time of order.