General Terms and Conditions of Sale

1. Scope of application

These terms and conditions form an integral part of every contract concluded between Industrieveren Algoet bvba and the buyer. Deviations are only valid if agreed in writing. They apply to the exclusion of any general terms and conditions appearing on the buyer's documents, even if communicated at a later stage.

2. Invoicing and payment

All invoices are payable by bank transfer according to the bank details stated on the invoice, no later than the due date, being 30 days after the invoice date, net without discount, unless otherwise agreed in writing.

3. Invoice protest

Under penalty of forfeiture, any protest against an invoice must be made in writing by registered letter within 8 days of the invoice date, stating the date and number of the invoice. The submission of a complaint does not exempt the client from complying with the payment terms.

4. Hidden defects

In the event of hidden defects, the same 8-day period and form of protest referred to in Article 3 apply, calculated from the moment the defect should reasonably have been discovered.

5. Late payment interest

In the event of non-payment of the invoice by the due date, late payment interest is owed automatically and without prior notice of default, equal to the interest rate determined in accordance with the Belgian Act of 2 August 2002 on combating late payment in commercial transactions, as published semi-annually by the Belgian Federal Public Service Finance. This rate amounts to 10.5% on an annual basis for the first half of 2026 and may be revised each semester.

6. Fixed collection compensation and penalty clause

In addition to the late payment interest, a fixed compensation of €40.00 is owed automatically and without prior notice of default in the event of non-payment by the due date, to cover collection costs, in accordance with Article 6 of the Belgian Act of 2 August 2002 on combating late payment in commercial transactions. Furthermore, in the event of full or partial non-payment by the due date, the outstanding balance will automatically and without prior notice of default be increased, by way of damages, by 12%, with a minimum of €150.00 and a maximum of €2,000.00, even in the event of payment extensions being granted. This compensation is in addition to the fixed compensation of €40.00 referred to in this article.

7. Additional collection costs

Costs related to unpaid bills of exchange or cheques, as well as other actual collection costs, are not included in the compensation referred to in Article 6 and will be charged separately to the client.

8. Retention of title

The goods remain the property of Industrieveren Algoet bvba until they have been paid for in full. An express retention of title is established in favour of the seller until all invoices have been paid in full.

9. Processing of personal data

Industrieveren Algoet bvba processes the client's personal data in the context of the performance of the contract, in accordance with the General Data Protection Regulation (GDPR) and applicable Belgian privacy legislation. For more information on the processing of personal data, retention periods and the client's rights, please refer to our separate privacy and cookie statement, available on the website and upon simple request via info@industrieverenalgoet.be.

10. Competent jurisdiction

In the event of a dispute, only the courts of the seller's registered office shall have jurisdiction.