Common use of Purchaser Property Clause in Contracts

Purchaser Property. 49.1 Where the Purchaser issues Purchaser Property to the Service Provider, the Purchaser Property remains at all times the property of the Purchaser. 49.2 The Service Provider undertakes the safe custody of the Purchaser Property and to that end must: 49.2.1 keep the Purchaser Property in good order and condition (excluding wear and tear); 49.2.2 comply with any particular security requirements communicated to the Purchaser in relation to the Purchaser Property; 49.2.3 use any Purchaser Property solely in connection with this Contract and for no other purpose; and 49.2.4 store the Purchaser Property separately and ensure that it is clearly identifiable as belonging to the Purchaser. 49.3 The Purchaser Property is deemed for the purposes of clause 49.2.1 to be in good order and condition when received by the Service Provider unless the Service Provider notifies the Purchaser otherwise within five (5) Working Days of receipt. 49.4 The Service Provider must not: 49.4.1 modify or replace the Purchaser Property; 49.4.2 use the Purchaser Property as security for a loan or other obligation; 49.4.3 sell, or attempt to sell or part with possession of the Purchaser Property; or 49.4.4 allow anyone to obtain a lien over, or right to retain, the Purchaser Property. 49.5 The Service Provider licences the Purchaser to enter any premises of the Service Provider during Working Hours on reasonable notice to recover any Purchaser Property. 49.6 The Service Provider undertakes the due return of the Purchaser Property and as such is liable for all loss of, or damage to, the Purchaser Property (excluding wear and tear), unless such loss or damage was caused or contributed to by the Purchaser’s Default. The Service Provider must notify the Purchaser promptly and, in any event within two (2) Working Days, upon becoming aware of any defects appearing in or losses or damage occurring to the Purchaser Property. Guidance notes: This clause is sometimes known as “free issue materials”. It ensures that the Service Provider takes good care of any Purchaser Property given to it by the Purchaser. Clause 68.3.1 (Consequences of Expiry or Termination) requires the Service Provider to return any Purchaser Property on expiry or termination of the Contract.

Purchaser Property. 49.1 40.1 Where the Purchaser issues Purchaser Property to the Service ProviderContractor, the Purchaser Property remains at all times the property of the Purchaser. 49.2 40.2 The Service Provider Contractor undertakes the safe custody of the Purchaser Property and to that end must: 49.2.1 40.2.1 keep the Purchaser Property in good order and condition (excluding wear and tear); 49.2.2 40.2.2 comply with any particular security requirements communicated to the Purchaser in relation to the Purchaser Property; 49.2.3 40.2.3 use any Purchaser Property solely in connection with this the Contract and for no other purpose; and 49.2.4 40.2.4 store the Purchaser Property separately and ensure that it is clearly identifiable as belonging to the Purchaser. 49.3 40.3 The Purchaser Property is deemed for the purposes of clause 49.2.1 0 to be in good order and condition when received by the Service Provider Contractor unless the Service Provider Contractor notifies the Purchaser otherwise within five (5) 5 Working Days of receipt. 49.4 40.4 The Service Provider Contractor must not: 49.4.1 40.4.1 modify or replace the Purchaser Property; 49.4.2 40.4.2 use the Purchaser Property as security for a loan or other obligation; 49.4.3 40.4.3 sell, or attempt to sell or part with possession of the Purchaser Property; or 49.4.4 40.4.4 allow anyone to obtain a lien over, or right to retain, the Purchaser Property. 49.5 40.5 The Service Provider Contractor licences the Purchaser to enter any premises of the Service Provider Contractor during Working Hours on reasonable notice to recover any Purchaser Property. 49.6 40.6 The Service Provider Contractor undertakes the due return of the Purchaser Property and as such is liable for all loss of, or damage to, the Purchaser Property (excluding wear and tear), unless such loss or damage was caused or contributed to by the Purchaser’s Default. The Service Provider Contractor must notify the Purchaser promptly and, in any event within two (2) 2 Working Days, upon becoming aware of any defects appearing in or losses or damage occurring to the Purchaser Property. Guidance notes: This clause is sometimes known as “free issue materials”. It ensures that the Service Provider takes good care of any Purchaser Property given to it by the Purchaser. Clause 68.3.1 (Consequences of Expiry or Termination) requires the Service Provider to return any Purchaser Property on expiry or termination of the Contract.