1. Invoices are to be settled on their due date at the head office or to the bank account of SR Le Cheval de Sport Belge ASBL (SBS Studbook). Payments can be made online, by bank transfer or in cash at the head office. Online payments are made via a secured server.

Orders are not delivered until payment has been received. The customer is not entitled to deduct from the price any amount due to a counterclaim. Compensation is in any case excluded.

2. All invoices will be deemed to have been accepted in the absence of a written protest by registered letter within 8 days of the invoice being sent.

3. The courts of Namur shall have exclusive jurisdictions for all disputes. Only Belgian law is applicable.

4. In the event of non-payment by the due date, the following will be due on the invoice amount, ipso jure and without prior notice of default:

a. formal notice costs of €5 per reminder and any additional costs for registered mail;

b. late payment interest of 8.5% per annum from the due date to the date of full payment;

c. as well as a flat-rate compensation of 10% with a minimum of 75 € and a maximum of 1,500 €.

5. Any collection costs shall be borne by the customer.

6. Non-payment of an invoice on its due date renders all other outstanding invoices immediately payable.