According to the xChange Standard Sales Contract, sub-clause 9:
(a) The Buyer and The Seller may cancel the contract or single pieces of Equipment within 12 (twelve) hours from the Accepted Date without any penalty.
(b) The Seller may cancel the contract or pieces of Equipment if The Buyer does not fulfill a Main Obligation of Section 9 (c) which is due, or does not render it in conformity with the contract.
Which are the Buyer's main obligations according to Sub-clause 9 (c)?
If the Buyer does not meet the Main Obligations as described below, this will automatically allow the Seller's cancellation request:
(i) Payment of the agreed sales price by The Buyer to The Seller or its nominated agent latest after a 3-day deadline given in writing by The Seller. The deadline can only be given after the due date of the invoice.
(ii) If a pick-up of pieces of Equipment (containers) at The Seller's nominated Depot has been agreed on in the Negotiated Sale Terms: Picking up of Pieces of Equipment latest after a 14-day deadline given in writing by The Seller. The deadline can only be given after the Free Storage Period has ended.
(iii) If the delivery of pieces of Equipment (containers) to The Buyer's nominated Depot has been agreed on in the Negotiated Sale Terms: Providing a Drop-Off Document and enabling the delivery of the pieces of Equipment to the designated Depot latest 72 hours after a Drop-Off Document has been requested by The Seller (but earliest 14 days before the start of the delivery period agreed upon in the Negotiated Sale Terms).