Payment shall be made in the manner and at the time or times agreed by the parties.
Any advance payments made by the Purchaser are payments on account and do not constitute a deposit, the abandonment of which would entitle either party to terminate the Contract.
If delivery has been made before payment of the whole sum payable under the Contract, goods delivered shall, remain the property of the Vendor until such payment has been effected. The Purchaser shall give the Vendor every assistance in taking any measures required to protect the Vendor’s right of property or such other rights as aforesaid.
A payment conditional on the fulfillment of an obligation by the Vendor shall not be due until such obligation has been fulfilled, unless the failure of the Vendor is due to an act or omission of the Purchaser.
If the Purchaser delays in making any payment, the Vendor may postpone the fulfillment of his own obligations until such payment is made, unless the failure of the Purchaser is due to an act or omission of the Vendor.
Save as aforesaid, if the Purchaser delays in making any payment, the Vendor shall on giving to the Purchaser within a reasonable time notice in writing to be entitled to the payment of interest on the sum due at the rate of 20% from the date on which such sum became due. If at the end of the period of 3 months, the Purchaser shall still have failed to pay the sum due, the Vendor shall be entitled by notice in writing to the Purchaser and without requiring the consent of any Court, to terminate the Contract and thereupon to recover from the Purchaser the amount of his loss up to the sum of 100% of the selling price of the machine minus the sum that can be realised by selling it elsewhere.
