b'General Conditions of Sale of DAF Trucks N.V. 5.these General terms in order of outstanding debt collection costs, Payment conditions5.1Payment. interest charges and the principle amounts due, irrespective of any different order indicated by Buyer3.Specification of the products Unless otherwise agreed in writing, the price for products sold shall be payable immediately upon delivery of5.8Immediately payable. 3.1the product. The amounts due shall be transferredAny amounts which the Buyer owes DAF under theCatalogues.It is agreed that any information provided by DAF relatingby teletransmission to DAFs bank and Buyer shall beContract shall become immediately due and payable in full if:to the products and their use, such as weights, dimensions,deemed to have performed his payment obligations whena.he Buyer has failed to make a timely payment to DAF or tcapacities, performance, prices, colours and otherthe respective sums due have been received by DAFsany of PACCARs Affiliates; data contained in catalogues, prospectuses, circulars,bank in immediately available funds. Any shortfall in theb. t he Buyer has applied for or has been granted suspension advertisements, illustrations, price lists, written or oralperformance of this obligation shall be a fundamentalof payments or goes bankrupt or when a similar situation representations or presented by prototypes, mock ups orbreach of contract on the part of Buyer. All cost relatedoccurs under the laws of the country in which the Buyer is demonstration models, shall not take effects as terms ofto the method of payment shall be for the account of theestablished; the Contract unless this has been expressly agreed in theBuyer. c. the Buyer has stopped or transferred his enterprise orContract. 5.2part(s) thereof.Advance Payment.3.2 PRs. DAF shall, irrespective of any payment terms agreed upon,6. I Delayed paymentAll intellectual property rights in respect of the productsat any time be entitled to require full or partial advance6.1Delayed payment interest.sold under the Contract shall vest in DAF. Without DAFspayment of the price for its products or services at a date prior written permission, Buyer shall not reproduce, publishindicated by DAF and to suspend the related productionIf Buyer does not pay a sum of money when this falls due, or imitate the products in whole or in part. Buyer may sellor delivery until this advance payment has been received.DAF is entitled to interest upon that sum from the time the products purchased from DAF to third parties onlyWithout further indication, it will be assumed that suchwhen payment is due to the time of payment.under the brand, logo, trade name and specifications underadvance payment refers to the full contract price and6.2Interest rate. which the products were delivered by DAF to Buyer. Buyerthat the advance payment must be received by DAF inUnless otherwise agreed, the rate of late payment interest may not change the technical configuration or quality of theimmediate available funds at least 30 days before thereferred to in article 6.1 shall be 2% above the three month products it purchased from DAF, including their labelling,agreed date of delivery or the earliest date of the agreedLIBOR interest rate prevailing for the currency of payment imprints and instructions. The Contract does not containdelivery period. If DAF has requested the advance paymentat the date the payment was first due, or where no such rate any transfer of or license to any intellectual property rightsof part of the contract price, the payment conditions of theis published, the rate for prime borrowers in the currency or know how relating to the products or the drawings,remaining amount will be determined according to the rulesof payment at the place of payment. In the absence of documents or software which may have made available toset forth in this article 5. either rates, the rate of interest shall be the appropriate late Buyer. 5.3payment interest rate fixed by the law of the country of the Documentary Credit. currency of payment. 3.3Modifications of the specifications. If parties have agreed on payment by documentary credit,DAF is authorised to modify the specifications or the designthen, unless otherwise agreed, the Buyer must arrange6.3Delivery to another customer.of products ordered and to deliver products in conformityfor a irrevocable documentary credit in favour of DAF onIn addition, DAF shall in the event of any overdue payment, with such modified specifications or design, provided thatconditions approved by DAF and confirmed and payablehave the right to deliver the products intended for the Buyer the products are designed for the same purpose as theby a bank designated by DAF. This documentary creditto another customer without the Buyer being released from products ordered and are not essentially different. DAF isshall be subject to the Uniform Customs and Practicethe Contract as a result thereof. As soon as DAF will have also authorised to modify the specifications or design if, duefor Documentary Credits published by the Internationalreceived the arrears, a new delivery period shall apply as will to a lack of materials or any other similar cause, it is unableChamber of Commerce and shall be notified to DAF atat that time be usual for new orders.to meet the standard specifications or special specificationsleast 30 days before the agreed date of delivery or at least6.4 agreed with the Buyer. In the aforementioned cases DAF30 days before the earliest date within the agreed deliveryCancellation Contract.shall have duly fulfilled its obligation to deliver conformingperiod, if such a period has been agreed. Unless otherwiseIf after a demand notice sent to Buyer, a payment still has products by delivering the products thus modified.agreed, the documentary credit shall be payable at sightnot been received within a period determined by DAF to its and allow partial shipments and transhipments. sole discretion, DAF shall be entitled to cancel the Contract 4.with immediate effect, either in whole or in part, without Price5.4Documentary Collection. prejudice to DAFs other rights. The same applies if DAF has 4.1No price agreed.If the parties have agreed on payment by documentarynot timely received the advance payment, documentary If no price has been agreed, the DAFs list price current atcollection, then, unless otherwise agreed, documents willcredit, securities, bank guarantee or letter of credit in the time of the conclusion of the Contract shall apply. be tendered against payment (D/P) and the tender will inaccordance with the relevant articles in these General Terms.6.5Debt collection costs.4.2 Denomination price. any case be subject to the Uniform Rules for Collections Unless otherwise indicated, all prices and amounts agreedpublished by the International Chamber of Commerce.upon between the parties are in Euros. All costs, both extrajudicial and judicial (including the costs 5.5of legal assistance), incurred by DAF in the process of the Securities, Bank Guarantee, Letter of Credit.4.3VAT, Transportation Costs. At DAFs first request, Buyer will provide security, whethercollection of the amounts due by Buyer pursuant to theUnless otherwise agreed in writing, the price does notor not additional, to secure its payment obligations to DAF.Contract, shall be for the account of the Buyer and shall be include value added tax (VAT) or any taxation due becauseTo the extent parties have agreed that payment is to bereimbursed to DAF. The extrajudicial costs shall amount to of the sale of the product and does not include the cost ofbacked by a irrevocable bank guarantee or a standby letterat least 15% of the amount due, subject to a minimum of transportation, packaging, insurance or import or exportof credit, the Buyer is to provide such a guarantee or L/CEUR 1,000.00.formalities. These shall be for the account of Buyer. from a bank and on conditions approved by DAF, issued at7.Retention of titleleast 30 days before the agreed date of delivery or at least 4.4 Later VAT charges. 30 days before the earliest date within the agreed delivery7.1Transfer of ownerships title.In the event VAT or similar taxes are levied over the sales of the products to Buyer although DAF considered this to be aperiod, The bank guarantee and L/C will be subject to theThe ownership of all the products shall remain the sole and transaction over which no VAT or taxes were due (e.g. in theUniform Rules for Demand Guarantees published by theabsolute ownership of DAF until such time as the Buyer shall event of EU intracommunity delivery), DAF will be entitledInternational Chamber of Commerce or to such Rules of thehave paid in full to DAF the agreed price for the products, to charge the VAT and taxes to Buyer in addition to anyUniform Customs and Practice for Documentary Creditsall costs for services rendered in relation to these products, additional charges and fines, without DAF being obliged topublished by the International Chamber of Commerce, inas well as all interest and collection costs due, all liquidated protest against such VAT , taxes or additional charges andeither case. damages in the case of default, and, in addition, all other fines. 5.6amounts to that are payable or will, at a future point in time, Setoff. become payable to DAF pursuant to any other existing or 4.5 n- and excluded in price. All amounts due under the Contract to be paid by the Buyerfuture agreement between DAF and Buyer pertaining to the I to DAF shall be paid in full and without any deduction under The price indicated in the Contract includes any costs whichwhatever title and Buyer shall not be entitled to assert anysale of the same or similar products and/or services.are for DAFs account according to the Contract or thesecredit setoff or counterclaim against DAF in order to justify7.2Local Law re Retention of Title.General Terms. However, should DAF bear any costs which, according to the Contract, are for the Buyers account (e.g.withholding payment of any such amount in whole or part.The law in the country in which the products are located for transportation or insurance under EXW or FCA) suchDAF will be entitled to offset amounts due by DAF to thewill govern the law of property aspects of the retention sums shall not be considered as having been included in theBuyer against amounts due by the Buyer to DAF or anyof title stipulated in article 7.1. If this law does not permit agreed price and shall be reimbursed to DAF by the Buyer. other PACCARs Affiliates. the enforcement of a reservation of ownership by DAF as 5.7Order of settlement outstanding amounts. stipulated in article 7.1, DAF shall have the rights of a similar purport as the agreed retention of ownership, to the fullest Payments received by DAF from Buyer shall settle theextent possible under the applicable law.amounts due by Buyers pursuant to the Contract and 46153 TRP Catalogue Reprint Adverts 250x337.indd 20 05/01/2021 14:12'