Article 9: Late Payments or Absence of Payment
9.1. In the event of late payment, the seller may suspend all orders underway and refuse to honour any new orders, without prejudice to any other action. In the event of a failure to pay all or part of any instalment, all sums owed by the buyer to the seller for any orders underway shall automatically become due immediately, without any formalities being required.
9.2. Any late payment or failure to pay on the due date indicated on the invoice shall give rise to application of late payment interest to the sums due, equal to 1.5% of the VAT-exclusive sale price of the wines per month’s delay. Additionally, any late payment shall give rise to invoicing of a fixed-sum indemnity of €40 for collection costs, it being stated that the seller may ask for further compensation on providing evidence of the costs and fees incurred.
9.3. The seller also reserves the right, in the event of any partial or total failure to pay, to terminate the sale if payment is not received within 5 business days of receipt of an order to pay, and to demand the return of any wines already in the possession of the buyer, pursuant to the retention of title clause referred to in Article 10 below, with any payments already made by the buyer being forfeited as a penalty clause. The costs of returns in such cases shall remain at the expense of the buyer. Such termination may affect not only the order in question, but also any earlier orders, whether already executed or in the course of execution and whether payment is due or not.
9.4. If any administration or judicial liquidation proceedings are initiated against the buyer, any orders underway shall automatically be cancelled subject to the applicable legislation.