Ownership, Title and Risk Clause Samples

The 'Ownership, Title and Risk' clause defines when legal ownership, title, and the risk of loss or damage to goods transfer from the seller to the buyer. Typically, this clause specifies the exact point—such as upon delivery, shipment, or payment—when the buyer assumes responsibility for the goods, regardless of their physical possession. By clearly allocating these responsibilities, the clause helps prevent disputes over liability if goods are lost or damaged during transit, ensuring both parties understand their rights and obligations.
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Ownership, Title and Risk. Unless otherwise stipulated in the Order, Goods will be shipped DAP (Delivered at Place) (per Incoterms® 2020). Ownership and title to Goods will pass to Buyer at the time specified in the Order, or if nothing is stated, upon Delivery of Goods.
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Ownership, Title and Risk. 4.1 Risk in, and title to, the Goods shall pass to ▇▇▇▇▇▇▇▇ on delivery. 4.2 ▇▇▇▇▇▇▇▇ and the Supplier shall retain ownership of any intellectual property that each owned as at the date of entering into this Agreement and thereafter. Where the Supplier supplies any item of intellectual property in accordance with this Agreement it shall, unless explicitly stated otherwise, remain the owner of that intellectual property. The Supplier will grant a non-exclusive, royalty free, transferable, and perpetual license to use that intellectual property for the purposes for which such license is granted.
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Ownership, Title and Risk. Title and risk in the Goods passes to SPTS on delivery of the Goods in accordance with the Order, without prejudice to any right of rejection that SPTS may have under these Conditions or otherwise. The Supplier shall transfer to SPTS the ownership of all items such as models, dies, moulds, jigs, gauges, tools and drawings specifically acquired or manufactured by the Supplier for the execution of an Order, immediately upon such items having been supplied to the Supplier or when the manufacture of such items has been completed by the Supplier. All items including all material and components ("Materials and Components") that were transferred to the Supplier for the execution of an Order shall remain property of SPTS. The Supplier shall have no right, title or interest in or to the Materials and Components (save the right to possession and use of the Materials and Components subject to the Terms and Conditions). The risk of loss, theft, damage or destruction of the Materials and Components shall pass to the Supplier on delivery of the same. The Materials and Components shall remain at the sole risk of the Supplier until such time as the Materials and Components are redelivered to SPTS. The Supplier shall ensure that the Materials and Components are insured and that the insurance policy has sufficient coverage in respect of loss or damage of the Material and Components whilst in the care of the Supplier. The Supplier shall store such Materials and Components separately and shall clearly mark these items as the property of SPTS. SPTS shall at all times be entitled to regain possession of such items. The Supplier shall not use such items on behalf of third parties nor allow third parties to use such items in connection with any purpose other than the execution of an Order. Upon receipt of any of the items referred to above, the Supplier shall inspect such items for damage, defects and fitness for the purpose for which they have been supplied and the Supplier shall report its findings to SPTS. The Supplier shall be liable for all costs and expenses for any damages and defects not reported to SPTS immediately after receipt of the item.
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Ownership, Title and Risk. 3.1 Title to Goods will pass to the Purchaser on receipt of payment in full for those Goods. 3.2 Risk in the Goods shall pass to the Purchaser on delivery of the Goods to the Purchaser’s premises. 3.3 The Purchaser and the Supplier shall retain ownership of any intellectual property that each owned as at the date of entering into this Agreement and thereafter. Where the Supplier supplies any item of intellectual property in accordance with this Agreement it shall, unless explicitly stated otherwise, remain the owner of that intellectual property. The Supplier will grant a non-exclusive, royalty free, transferable, and perpetual license to use that intellectual property for the purposes for which such license is granted.
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Ownership, Title and Risk. 17.1 Ownership and title in all products, goods and materials supplied under the Sub-Contract shall pass to Vantage Zero Limited on delivery. Vantage Zero Limited accepts no retention of title. The Sub-Contractor waives all rights and powers to which it could be entitled under the lien or the right of return. 17.2 Ownership and title in items issued to the Sub-Contractor on a “free issue” basis by Vantage Zero Limited shall remain with Vantage Zero Limited at all times. Risk of loss of or damage to any such items shall pass to the Sub-Contractor on delivery and shall remain at the Sub- Contractor’s risk until returned to the custody of Vantage Zero Limited. The Sub-Contractor shall be responsible for all costs of replacement or repair of items lost or damaged prior to their return to Vantage Zero Limited.
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Related to Ownership, Title and Risk

  • TITLE AND RISK (TO APPLY WHEN THE GOODS ARE SUBJECT TO THE LAWS OF SCOTLAND) 6.1 Property and title in the Goods shall not pass to the Purchaser until the price due in terms of the contract has been received by the Company. Where the items to be supplied in terms of the contract are delivered in instalments this clause will apply to each instalment as if it formed the subject matter of a separate and independent contract. 6.2 Until the price of the Goods has been paid the Purchaser will hold and store the Goods as agent for the Company and in a manner which clearly distinguishes them from other Goods and products of the Purchaser and indicates that they are in fact owned by the Company and not by the Purchaser. 6.3 The Purchaser shall not sell or dispose of any individual consignment of or delivery of the Goods save as agent for the Company until the price due in terms of the contract has been received by the Company. 6.4 On the happening of any of the following events the Company may recover any of the Goods remaining in the Purchasers possession and the Company its agents or servants will obtain a court order to be entitled to remove any Goods for which the price has not been paid: - if the price of such Goods shall remain unpaid at the expiration of their allotted credit period; - if the Purchaser, being an individual has a petition presented for his or her sequestration or makes any arrangement or composition with his or her creditors or signs a Trust Deed for behalf of his or her creditors or has a Trustee, interim or otherwise, appointed to his or her estates; - if the Purchaser, being a Company makes any composition or arrangement with its creditors, has an administrative receiver or receiver appointed to any part of its property and assets, has a petition presented for the appointment of an administrator, interim or otherwise, or has any such administrator appointed, has any petition presented for its winding-up or any liquidator provisional interim or otherwise appointed or calls any meeting of its creditors, - if the Purchaser has any diligence carried out against it or its assets. 6.5 Notwithstanding the provisions of this clause risk in all Goods supplied shall pass to the Purchaser on delivery whereupon the Purchaser shall be liable for insurance of such Goods. 6.6 Sub clauses 6.1, 6.2, 6.3, 6.4 and 6.5 of this clause shall each be construed and receive effect as a separate clause of these conditions.

  • POLICY TITLE AND OWNERSHIP Title and ownership shall reside in the Bank for its use and for the use of the Insured all in accordance with this Agreement. The Bank alone may, to the extent of its interest, exercise the right to borrow or withdraw on the policy cash values. Where the Bank and the Insured (or assignee, with the consent of the Insured) mutually agree to exercise the right to increase the coverage under the subject Split Dollar policy, then, in such event, the rights, duties and benefits of the parties to such increased coverage shall continue to be subject to the terms of this Agreement.

  • OWNERSHIP TITLE The Licensed Software is the proprietary property of Symantec or its licensors and is protected by copyright law. Symantec and its licensors retain any and all rights, title and interest in and to the Licensed Software, including in all copies, improvements, enhancements, modifications and derivative works of the Licensed Software. Your rights to use the Licensed Software shall be limited to those expressly granted in this License Agreement. All rights not expressly granted to You are retained by Symantec and/or its licensors.

  • Title and Risk of Loss Notwithstanding the form of shipment, title or other property interest, risk of loss shall not pass from the Contractor to the Authorized User until the Products have been received, inspected and accepted by the receiving entity. Acceptance shall occur within a reasonable time or in accordance with such other defined acceptance period as may be specified in the Bid Specifications or Purchase Order. Mere acknowledgment by Authorized User personnel of the delivery or receipt of goods (e.g., signed ▇▇▇▇ of lading) shall not be deemed or construed as acceptance of the Products received. Any delivery of Product that is substandard or does not comply with the Bid Specifications or Contract terms and conditions, may be rejected or accepted on an adjusted price basis, as determined by the Commissioner.

  • Delivery, Title and Risk of Loss Title and risk of loss to Products (for Software, the media only) shall pass to Customer upon the occurrence of either of the following: (a) the shipment of Products from NIJ’s affiliated companies and the completion by NIJ of the customs import clearance at the customs having jurisdiction over the import of the Products; or (b) the shipment of Products from a local warehouse used by NIJ, if applicable; provided however, NIJ retains a security interest and right of possession in the Products until Customer makes payment in full. For Products to be delivered within Japan, NIJ will arrange the shipping; however, Customer is responsible for all shipping and handling fees set forth in the invoice, unless otherwise indicated by NI. Upon written confirmation from NI, Customer may choose to arrange for shipping with a carrier previously approved by NI, but in this case or if the order is placed with an NI entity outside the country of Japan, Customer is responsible for all shipping and handling, including fees, customs, formalities and clearance, except that NI is responsible for the Export Declaration. Customer shall provide NI with the necessary information for the Export Declaration, in a timely manner. Shipment dates provided by NIJ are estimates only, and NIJ shall have no liability for losses or claims resulting from late delivery of Products. Claims for shipment shortage shall be deemed waived unless presented to NIJ in writing within forty-five (45) days from the date of Invoice (“Invoice Date”). NI may, in its sole discretion, without liability or penalty, make partial shipments of Products to Customer. Each shipment will constitute a separate sale, and Customer shall pay for the units shipped whether such shipment is in whole or partial fulfillment of Customer's purchase order