Clause 6: Retention and Pledge

1. The contractor shall have the right to retain goods, documents, reports and moneys for account and risk of the customer and/or owner until the full settlement of his claims he may or will have on the customer and/or the owner.

2. All goods, documents, reports and moneys the contractor has or will have in his possession for whatever reason and for whatever purpose, shall serve as security for his claims referred to in Clause 6.1 hereof.

3. In case of non-payment of the debt the contractor shall have the right to undertake or to order the sale of the collateral or the things he has in his possession under the right of retention, in the manner prescribed by law.

4. If the contractor periodically charges the customer amounts, each instalment shall be considered a claim in terms of the clauses 6.1, 6.2 and 6.3 above. This shall also apply to instalments the customer still owes because of previous orders.


back to table of contents