English to Dutch Law/Patents Law: Contract(s) verkoopovereenkomst

Late Payment: In the event of late payment or repeated rejection of a negotiable instrument by a bank further to sending a formal payment demand by means of a recorded delivery letter with return receipt, late payment interest will be calculated, as from the due payment date until the day of effective payment, at a rate of 5% per annum. This interest shall be paid on receiving the corresponding debit memo. In the event of late payment, the rejection of a negotiable instrument or a deterioration in the purchaser's financial position (non-payment, suspension of payments, voluntary or court-ordered receivership, *attached goods sold*, attachment order, etc.), the Seller reserves the right to suspend or cancel any orders, Sales Contracts or operations in course, require guarantees or demand payment prior to delivery, even in the event of partial performance of contracts in course. In all the above circumstances, all the purchaser's debts towards the Seller will become payable immediately, even those that are not yet due by virtue of the original contractual provisions.

Weet iemand hier de Nederlandse term voor?