CHRONEXT Not Paying? Here's How to Recover Your Money
Have you sold your watch through CHRONEXT, but your payout hasn’t arrived or has been significantly delayed? CHRONEXT is failing to pay on time. We represent affected sellers and enforce payment of their sales proceeds – both out of court and, where necessary, through legal proceedings.
Key Facts at a Glance
- Once the buyer's 14-day withdrawal period has expired, the sales proceeds become immediately due and payable.
- CHRONEXT is automatically in default of payment without the need for a reminder, pursuant to Section 286(2) No. 2 of the German Civil Code (BGB).
- Default interest accrues automatically from that date by operation of law.
- In our experience, CHRONEXT frequently settles outstanding payments no later than after service of a court payment order ("Mahnbescheid").
How Does the CHRONEXT Consignment Model Work?
Under CHRONEXT’s consignment model, the owner authorizes CHRONEXT to sell the watch in its own name but on the owner’s behalf. Under Section 384(2) of the German Commercial Code (HGB), CHRONEXT is obliged to remit the sales proceeds without undue delay.
According to Clause 5.6 of CHRONEXT’s Terms and Conditions, the sale is deemed completed once the buyer’s statutory 14-day right of withdrawal has expired. At that point, the purchase price becomes due – and any further delay may constitute a breach of contract, placing CHRONEXT in default.
Frequently Asked Questions
When Must CHRONEXT Pay the Sales Proceeds?
The payment becomes due once the buyer’s 14-day withdrawal period has expired. Taking normal banking processing times into account, the funds should generally reach your account within a few business days thereafter.
If payment is delayed beyond that point, CHRONEXT may be in breach of its contractual obligations, giving rise to legal claims.
Do I Have to Send a Formal Reminder Before CHRONEXT Is in Default?
No. Because the payment date is objectively determinable — namely, the expiry of the withdrawal period – CHRONEXT automatically falls into default under Section 286(2) No. 2 BGB.
Although no reminder is legally required, sending a written payment request is often advisable to document the chronology of events.
Can I Claim Interest for the Delay?
Yes.
Once CHRONEXT is in default, you are entitled to statutory default interest amounting to five percentage points above the applicable base interest rate pursuant to **Section 288(1) BGB.
For example, where the sales proceeds amount to €8,000, even a delay of several weeks may give rise to a significant additional claim for interest.
Can I Instruct a Lawyer Immediately?
Yes. Once CHRONEXT is in default, instructing legal counsel is generally both permissible and advisable.
The German Federal Court of Justice (Bundesgerichtshof – BGH) has confirmed that a creditor may retain legal counsel whenever, from an objective perspective, it is uncertain how the debtor will respond (Judgment of 17 September 2015, Case No. IX ZR 280/14).
Practical Example
A typical case from our practice: one of our clients sold a high-value luxury watch through CHRONEXT on a consignment basis. After the buyer’s withdrawal period had expired, CHRONEXT failed to transfer the agreed sales proceeds – despite repeated enquiries and a written payment request, no payment was made.
We therefore initiated court payment order proceedings. Following service of the payment order, CHRONEXT paid the full purchase price together with all legal fees and court costs.
In our experience, an attorney’s formal demand letter is often sufficient to prompt payment.
How We Help
- Free Initial Assessment. We review your case and assess the prospects of success.
- Attorney Demand Letter. We formally request payment from CHRONEXT and assert all legal claims on your behalf.
- Court Proceedings. If CHRONEXT continues to refuse payment, we initiate legal proceedings.
- Full Enforcement of Your Claims. We pursue recovery of:
- the full sales proceeds
- statutory default interest
- legal fees
- all other recoverable enforcement costs
Why Legal Representation Can Make a Difference
Many affected sellers initially attempt to resolve delayed payments through emails or repeated telephone calls. Our experience shows that this frequently results only in further delays.
Legal representation ensures structured communication, clear deadlines and effective enforcement of your rights, often resulting in substantially faster payment.
Contact Us
You do not have to deal with CHRONEXT yourself. We handle all communication and enforce your claims-both out of court and, where necessary, through court proceedings.
Contact us today for a free initial assessment of your case.
Why Choose Us
Excellent Prospects of Success
Every case requires an individual legal assessment. Thanks to our specialist expertise, structured approach, and personal client service, we provide reliable support in enforcing your legal rights.
Transparent Fees
With us, there are no surprises. We provide complete transparency about our legal fees before you instruct us.
Legal Tech
We combine legal expertise with state-of-the-art technology to manage your case as efficiently as possible, without compromising on quality or personal service.
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Hinweis/Disclaimer: Dieser Beitrag ersetzt keine individuelle und einzelfallbezogene Rechtsberatung. Maßgeblich sind Ihre Versicherungsbedingungen und der konkrete Sachverhalt. Bitte lassen Sie Ihre Unterlagen anwaltlich prüfen.
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Our law firm represents clients throughout Germany, with a particular focus on criminal law, employment law, traffic law, and intellectual property law. Thanks to our specialist expertise, we provide tailored legal advice and dedicated representation, both in out-of-court negotiations and before the courts.