Common use of Retention and passing of title Clause in Contracts

Retention and passing of title. a. Risk in the Goods passes to the Customer on Delivery. b. Title in the Goods purchased by the Customer passes to the Customer only when the Price for the all that is for the Goods has been paid in full. c. Until title in Goods passes to the Customer, ▇▇▇▇▇▇▇’▇ Petroleum authorises the Customer to sell the Goods as its fiduciary agent. The Customer must not represent to any third party that is in any way acting for ▇▇▇▇▇▇▇’▇ Petroleum or incur any liability or make any representation on behalf of ▇▇▇▇▇▇▇’▇ Petroleum and ▇▇▇▇▇▇▇’▇ Petroleum will not be bound by any contracts with third parties to which the Customer is a party. In the event of the Goods being disposed by the Customer under this clause any amount received by the Customer shall be set aside and held in trust by the Customer for ▇▇▇▇▇▇▇’▇ Petroleum pending payment of the purchase Price in full. ▇. ▇▇▇▇▇▇▇’▇ Petroleum reserves its rights to retake possession of and sell any Goods until all amounts owing to it by the Customer are paid in full.