Party Autonomy in International Property Law - Peace Palace Library

8. European Conflict Rules for the Mutual Recognition of Security Rights in Goods
of uniform legislation in this field, and even of mutual recognition of
national and international securities.’ 6
In accordance with the enormous practical importance of the retention
of title as compared to other non-possessory security rights, retention of
title will be discussed first (infra 8.2), and other non-possessory security
rights thereafter (infra 8.3).
8.2. Retention of title
The following survey restricts itself to the ‘simple’ retention of title. The
various forms of extension – for instance, into the proceeds from a resale
of the purchased goods by the buyer 7 or into products of work done on the
bought goods by the buyer – are excluded here.
8.2.1. European law
The importance of the retention of title for export / ​import transactions
in the EU internal market is underlined by the fact that the European
legislator has seen fit to expressly oblige the Member States to recognize
a retention of ownership in goods imported from another Member State
and validly agreed upon. Article 4(1) of the Directive on combating late
payments of 29 June 2000 8 provides:
‘1. Member States shall provide in conformity with the applicable
national provisions designated by private international law that the
seller retains title to goods until they are fully paid for if a retention of
title clause has been expressly agreed between the buyer and the seller
before the delivery of the goods.’
6
C. von Bar and U. Drobnig (eds.), The Interaction of Contract Law and Tort
and Property Law in Europe (Sellier, München 2004), 439-440.
7
This aspect is covered in a practical manner in the aforementioned contributions
of Flessner as well as of Verhagen and van Dongen, supra n. 4 and 5.
8
Directive 2000 / 35 / ​EC of 29 June 2000 on combating late payment in commercial
transactions (Off.J. EC 2000 L 200, p. 35). See postscript.
Ulrich Drobnig
167
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