(1) An agreement according to which the obligee may demand discharge of a claim for payment only after more than 60 days have lapsed following receipt of the consideration is effective only if it was made expressly and is not grossly inequitable with a view to the concerns of the obligee. Where, following receipt of the consideration, an invoice or an equivalent statement of payment is submitted to the obligor, the time at which said invoice or statement of payment is received will take the place of the time at which the consideration is received as set out in sentence 1. Until evidence of a different point in time is provided, the presumption will be that the point in time at which the invoice or the statement of payment was received was the same as the time at which consideration was received; where the obligee has stated a later time, this will take the place of the point in time at which the consideration was received.
(2) Where the obligor is a public contracting entity within the meaning of section 99 nos. 1 to 3 of the Act against Restraints of Competition (Gesetz gegen Wettbewerbsbeschränkungen), then in derogation from subsection (1)
1. an agreement according to which the obligee may demand discharge of a claim for payment only after more than 30 days have lapsed following receipt of the consideration is effective only if it was made expressly and if, due to the special nature or due to the characteristics of the obligation, it is based on an objectively justified reason;
2. an agreement according to which the obligee may demand discharge of a claim for payment only after more than 60 days have lapsed following receipt of the consideration is ineffective.
Subsection (1) sentences 2 and 3 is to be applied accordingly.
(3) If a claim for payment is to be discharged only after the consideration has been verified or accepted, then an agreement according to which the time allowed for the verification or acceptance of the consideration is more than 30 days following receipt of the consideration is effective only if it was made expressly and is not grossly inequitable with a view to the concerns of the obligee.
(4) Where an agreement pursuant to subsections (1) to (3) is ineffective, the contract remains effective in all other respects.
(5) Subsections (1) to (3) are not to be applied to
1. the agreement of part payments and other instalments;
2. an obligation under which a consumer owes the discharge of the claim for payment.
(6) Subsections (1) to (3) leave other provisions unaffected that give rise to restrictions for agreements on payment deadlines, verification periods or periods for acceptance.