The Agreement may also be immediately cancelled by the Buyer in case of
insolvency/bankruptcy or liquidation of the Seller.
(a) In cases of cancellation, the Buyer reserves the right to be paid by the
Seller the damages and interest in accordance with loss sustained because of but not limited to the stoppage of the work and the fact that the Goods must be supplied by a third party.
(b) At the time of cancellation, the Seller shall immediately refund to the Buyer
the total amount to have been paid by the Buyer with interest under the Agreement up to the time of cancellation.
20.3 Without prejudice to any other accrued rights, the Buyer may, by notice in writing
to the Seller and with immediate effect, terminate the Agreement or any part thereof. In the case of termination as aforesaid :
(a) The Seller shall use its best efforts to effect the immediate cancellation of
orders which it may have placed with others and discontinue all work of manufacturing the goods, and
(b) The Seller shall, upon the Buyer's request, deliver to the Buyer any or all of
the work, all drawings, specifications, data sheets, and other matters that
the Seller may have prepared for the Goods and all materials, supplies and
equipment paid for by the Buyer either directly or indirectly, and the Buyer
shall have the right to make use of same for such purposes as the Buyer
may desire, and
(c) The Seller shall notify the Buyer as soon as practicable of the amounts
overrun or amounts yet unpaid and damages reasonably assessed, if any, with proper supporting evidence. These amounts shall be agreed upon in writing between the Buyer and the Seller.
21 TRADE TERMS
The interpretation of trade terms in the Purchase Order shall be in accordance with Incoterms (2000 Edition) established by the International Chamber of Commerce and those supplemented thereto.