Common use of Payment when Due Clause in Contracts

Payment when Due. (1) In case of late payment of the instalment or other amounts due according to the agreement, fees with the addition of a default interest of 1.15 % per month or part thereof will accrue until payment takes place. (2) The customer may not do any set-off against the instalment, exercise a lien on the machine or refuse payment due to a delay, complaint or counter-claim regarding the specific or any other delivery. Such set-off or retention will be considered material breach of the agreement.