1. beyerdynamic shall retain title to the purchased goods until receipt of all payments relating to the business transaction with the customer (retained goods). Claims arising from the business relationship also include interest, ancillary charges, the costs of any legal proceedings, and the costs of intervention caused by seizure of the purchased goods by a third party. Cheques and bills of exchange will only be valid as payment if they are irrevocable.
2. The customer must treat any goods subject to retention of title with care, and must immediately inform beyerdynamic of any access to the goods by a third party, even in the case of their seizure, also in the event of any damage or destruction of the goods. The customer must immediately inform beyerdynamic of any change in the person with possession of the goods subject to retention of title. The customer may not pledge or grant as security any goods which are subject to a retention of title.
3. The customer may dispose of the purchased goods as part of a regular business transaction. If the purchased goods are sold on, the customer hereby assigns all the receivables arising from the disposal of the goods in question until such time as all the claims of beyerdynamic have been settled. beyerdynamic hereby accepts said assignment. The assignment also includes any claim for payment of the balance from an agreed current account. Until revoked by beyerdynamic, the customer may collect the assigned account receivable in his own name.
4. At the request of beyerdynamic, the customer must inform beyerdynamic of the names of any customers against whom he has a claim in connection with the disposal of the purchased goods, and the amounts owed by said customers, and must allow beyerdynamic to inspect the relevant accounting books and invoices. The customer must inform beyerdynamic immediately of any seizure of the purchased goods, or any other access to the goods by a third party.
5. Any processing or transformation of the purchased goods by the customer shall always be undertaken for beyerdynamic. If the purchased goods are processed using other items not belonging to beyerdynamic, beyerdynamic shall acquire joint ownership to the new items in proportion to the value of the purchased goods (final invoice amount inclusive of VAT) compared to the value of the other processed goods at the time the processing took place. The same shall apply in the event that the purchased goods are combined with other items not owned by beyerdynamic.
6. If the realisable value of beyerdynamic's existing securities exceeds beyerdynamic's claims by more than 20%, beyerdynamic must, at the customer's request, release the securities, at the discretion of beyerdynamic, with regard to the 20% excess.
7. If retentions of title exist in a foreign country whose law applies, is ineffective or requires additional registration in addition to the contract, the customer must, at his own expense, assist in taking any measures and in particular in giving any explanations he may be asked to provide, in order to ensure the retention of title is effective or in order to provide beyerdynamic with assurance having the same effect as a retention of title.