The goods shall always, regardless of route and transportation means, be shipped to the place of destination at the risk of the purchaser. Traffic duties, if not accruing to us in the case of freight paid FOB and CIF deliveries, shall be borne by the purchaser unless, due to statutory regulations, the seller must bear traffic duties alone. We shall assume obligation neither for punctual transport nor for full utilization of the capacity of the means of transport.
If upon completion of a transaction no other conditions of payment have been stipulated in writing, our invoices shall be payable net after 30 days. Should we subsequently learn of adverse circumstances regarding the credit standing of a purchaser, We" shall be entitled to cancel the contract even after partial fulfillment or to defer our performances until consideration is executed or security be provided for such consideration. Should the described circumstances arise for the purchaser or acceptors during the currency of a check or bill of exchange, we shall be entitled to return the check or bill of exchange at any point in time. In such case, we shall also be entitled to demand immediate payment in cash of deferred accounts receivable. Seizures or any other risk to our ownership shall be reported to us immediately.
Right of Cancellation
Unforeseen events shall exclude indemnity claims and shall entitle us to cancel the contract entirely or partially. We shall also be entitled to cancellation of contract on the mutual understanding for other reasons, which seriously obstruct or hamper the execution of the contract. The concept of unforeseen events includes in particular war, blockade, strikes, embargo on export or import, fire breakdown, lack of coal, raw materials or operating machines/materials etc.
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