Standard Trading Conditions - XVI. RIGHTS OF LIEN AND OF DISPOSAL OF THE GOODS
     

ART. 74. RIGHT OF LIEN:

  1. In order to secure payment of any money due, the FORWARDER has the unconditional and irrevocable right of lien over the goods and documents which are the subject of such debt.
  2. This right of lien extends also to any other money, goods and documents which are in custody or control of the FORWARDER and are the property of the irregular Debtor.
  3. No transaction or legal act accomplished in respect of the goods shall affect the right of lien described above.

ART. 75. RIGHT OF DISPOSAL:

  1. If any sums due to the FORWARDER are not paid within 30 days after the FORWARDER has given notice to the Debtor that he has exercised his right of lien over the goods, then the FORWARDER may sell those goods by auction or otherwise at his own discretion.
  2. In doing so, the FORWARDER acts at the expense of the Debtor and is nor liable for any reduction in value on the sale of the goods or for any other consequential losses of the CUSTOMER/OWNER, or for any claims of third parties having a legal interest in the goods.
  3. The FORWARDER is entitled to apply the net proceeds of the sale to satisfy the debt. The Debtor is not relieved of liability to compensate any outstanding balance in favour of the FORWARDER. Any sum remaining after the debt to the FORWARDER has been satisfied, will be deposited in a Bank at the disposal of the CUSTOMER/OWNER.

     

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