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(3) The Customer shall have the right to use retained goods in the normal course of business or to sell them to the consumer subject to their right of retention until the goods have been fully paid. In advance, the Customer shall hereby assign to us all receivables, including VAT, which result from the use of retained goods. If retained goods are sold or used together with other items which we do not own, the assignment shall only comprise the part of the receivables which is equivalent to the ratio of the retained goods delivery value to the delivery value of those goods which we do not own. The Customer's right to sell or process retained goods in the normal course of business shall cease to exist upon our revocation. If there is no revocation, it shall cease to exist upon the Customer's default at the latest. If the Customer sold receivables in the framework of a real factoring, they shall already now assign the substituting receivable against the factor to us. If the consumer effects a payment to one of our Customer's bank accounts, the Customer shall already now assign to us the claim resulting from the credit to their financial institution. We shall accept the assignment mentioned above.
(4) The Customer is entitled to collect assigned receivables as long as they fulfil their payment obligations. The right to collection shall cease to exist upon our revocation. If there is no such revocation, it shall cease to exist once the Customer is in default for more than a month at the latest. Our right to collect receivables ourselves shall always remain unaffected. We shall have the right to inform our Customer's clients about the assignment and to demand payment to us, unless insolvency proceedings were instituted and this conflicts with insolvency court orders. Upon request, the Customer shall always be obligated to provide us with a detailed list of all receivables we are entitled to, including the clients' names and addresses, the amount of individual receivables, the invoice etc., to give us all information which is required to assert a claim for the assigned receivables and to allow us to review this information.
For more information please read our: General Terms and Conditions (T&C)