Retentierecht
Right of retention
The right of retention is the right of a creditor to retain possession of a thing belonging to the debtor until the creditor’s claim has been satisfied.
The right of retention is a statutory right of recourse that empowers a creditor to retain possession of a movable asset of the debtor as a means of pressure to secure payment. The right arises by operation of law where a due and payable claim exists that is sufficiently connected to the asset retained.
The right of retention is significant in that it affords the creditor a strong position without requiring a separate act to create a security interest. It may also be invoked against third parties and thereby constitutes an effective means of enforcing performance.
In practice, the right of retention is regularly exercised by contractors, repairers and suppliers who have goods or work in their possession.
“The contractor invoked its right of retention and refused to hand over the keys to the premises until the outstanding invoice had been paid.”
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