If the subject of the contract with the Customer is the manufacture and/or delivery or an item by Voit, the following applies:
Voit shall retain ownership of the subject of the contract until payment has been received (so-called simple retention of title).
If the customer has paid the purchasing price for the delivered and/or manufactured item, but further accounts payable from other obligations between Voit and the Customer have not yet been paid in full, Voit shall, in addition, retain ownership of the manufactured and/or delivered items until complete payment of all accounts payable has been carried out (so-called extended retention of title).
If any joining or mixing of the goods delivered by Voit with an item of the customer is carried out in such a way that the item of the customer is considered to be the main item, it shall apply as agreed, that the Customer shall transfer co-ownership of the item to Voit and shall do so in proportion to the invoice value of the goods delivered by Voit to the invoice value or, in the absence of such, to the market value of the main item. The Customer shall thus keep safe the solely owned or co-owned property, free of charge, for Voit.
At Voit’s request, the Customer must provide all the required information about the existence of the goods which are Voit’s property. In the same way, the Customer must identify the items which are Voit´s property as such if requested by Voit to do so.
In the case of default of payment by the Customer, Voit shall have the right, after issuing a reminder, to demand that the subject of the contract be handed over and the Customer is obliged to hand it over.
Due to the retention of title, Voit can only reclaim the subject of the contract if Voit has previously withdrawn from the contract.
As long as the subject of the contract has not yet been paid in full, the Customer must keep it in trust for Voit and separate from his own property and the property of third parties and store, secure and insure the reserved property correctly and identify it as property of Voit. Until the subject of the contract has been paid in full, the Customer may neither use it nor resell it. The Customer is not entitled to dispose of the reserved property otherwise (e.g. transfer by way of security, pledging).
In the case of seizure or other intervention by third parties, the Customer must inform Voit immediately so that Voit can take legal action according to § 711 of the German Code of Civil Procedure (ZPO). If the Customer does not fulfill this duty, he shall be liable for any damages incurred.
Voit shall commit itself to release securities to which it is entitled at the request of the Customer in so far as the realisable value of the securities exceeds the receivables to which Voit is entitled. Voit shall select the securities which are to be released.