RISK AND PROPERTY. a. The Goods shall remain the property of the Company until their full Price has been received by the Company and all other sums which are or become due from the Purchaser on any account with the Company have been received by the Company. b. Risk of damage to or loss of the Goods will pass to the Purchaser on Delivery. c. Until title to the Goods passes to the Purchaser the Purchaser must: (i) store them at its own cost on its premises separately from any other goods and in a manner which makes them readily identifiable as the Goods of the Company; (ii) not destroy, deface or obscure any identifying mark or packaging of the Goods; (iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risks; and (iv) hold the proceeds of insurance referred to in clause 5c(v)(iii) on trust for the Company and not mix them with any other money, nor pay the proceeds into an overdrawn account. (v) allow access to count and verify Goods pertain to clause 5d.The Purchaser’s right to possession, use and resale of the Goods will terminate immediately if, before ownership of the Goods passes to the Purchaser: i. the Purchaser becomes (or threatens to become) insolvent; iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date; iv. the Purchaser encumbers or in any way charges any of the Goods; or v. the Agreement expires or terminates for any reason. d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the Company will be entitled to issue the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereon. e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods. f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored. g. If the Goods are sold by the Purchaser before payment for them has been made, any such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a sale. h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: Trading Agreement
RISK AND PROPERTY. a. 7.1 The Goods Supplied Equipment shall remain be at the property risk of ___________________[[Kindly enter Company name]] until delivery to the Customer at the Site. ___________________[[Kindly enter Company name]] shall off-load the Supplied Equipment at the Customer’s risk.
7.2 Ownership of the Supplied Equipment shall pass to the Customer on the later of completion of delivery (including without limitation off-loading), or when___________________[[Kindly enter Company until their name]] has received in full in cleared funds the Purchase Price has been received by the Company and all other sums which are or which become due to ___________________[[Kindly enter Company name]] from the Purchaser Customer on any account with the Company have been received by the Companyaccount.
b. Risk of damage to or loss 7.3 Until ownership of the Goods will pass Supplied Equipment has passed to the Purchaser on Delivery.
c. Until title to Customer under condition 7.2, the Goods passes to the Purchaser the Purchaser mustCustomer shall:
(ia) store them at its own cost hold the Supplied Equipment on its premises separately from any other goods and in a manner which makes them readily identifiable fiduciary basis as the Goods of the Company___________________[[Kindly enter Company name]] bailee;
(iib) not be entitled to sell, transfer, lease, charge, assign by way of security or otherwise deal in or encumber the Supplied Equipment;
(c) store the Supplied Equipment (at no cost to ___________________[[Kindly enter Company name]]) in satisfactory conditions and separately from all the Customer’s other equipment or that of a third party, so that it remains readily identifiable as___________________[[Kindly enter Company name]] property;
(d) not destroy, deface or obscure any identifying mark or packaging of on or relating to the Goods;
(iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risksSupplied Equipment; and
(ive) keep the Supplied Equipment insured on ___________________[[Kindly enter Company name]] behalf for its full price against all risks with a reputable insurer to the reasonable satisfaction of ___________________[[Kindly enter Company name]], ensure that ___________________[[Kindly enter Company name]]interest in the Supplied Equipment is noted on the policy, and hold the proceeds of such insurance referred to in clause 5c(v)(iii) on trust for the ___________________[[Kindly enter Company name]] and not mix them with any other money, nor pay the proceeds into an overdrawn bank account.
7.4 If in breach of clause 7.3(b) above the Customer sells the Supplied Equipment then any proceeds of sale in respect thereof and all rights arising under or in respect of said sale shall be held (vin the case of the proceeds of sale in a separate account) allow access to count and verify Goods pertain to clause 5dby the Customer as trustee for ___________________[[Kindly enter Company name]].
7.5 The PurchaserCustomer’s right to possession, use and resale possession of the Goods will Supplied Equipment before ownership has passed to it shall terminate immediately if, before ownership if any of the Goods passes to circumstances set out in clause 12 arise or if the Purchaser:
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser Customer encumbers or in any way charges the Supplied Equipment, or if the Customer fails to make any payment to ___________________[[Kindly enter Company name]] on the due date.
7.6 The Customer grants ___________________[[Kindly enter Company name]], its agents and employees an irrevocable licence at any time to enter any premises where the Supplied Equipment is or may be stored in order to inspect it, or where the Customer’s right to possession has terminated, to remove it. All costs incurred by ___________________[[Kindly enter Company name]] in repossessing the Supplied Equipment shall be borne by the Customer.
7.7 On termination of the Goods; or
v. the Agreement expires or terminates agreement for any reason, ___________________[[Kindly enter Company name]] (but not the Customer’s) rights in this clause 7 shall remain in effect.
d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the 7.8 [[Kindly enter Company will be entitled to issue the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereon.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold name]] may appropriate payments by the Purchaser before payment for them has been madeCustomer to such Supplied Equipment as it thinks fit, notwithstanding any purported appropriation by the Customer to the contrary, and may make such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a saleappropriation at any time.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: Hardware Supply Agreement
RISK AND PROPERTY. a. The Goods shall remain the property of the Company until their full Price has been received by the Company and all other sums which are or become due from the Purchaser on any account with the Company have been received by the Company.
b. 7.1 Risk of damage to or loss of the Goods will PRODUCTS shall pass to the Purchaser on Delivery.
c. Until title CUSTOMER at the point of: (a) BRITANNIC notifying the CUSTOMER that the PRODUCTS are available for collection; or (b) in the case of PRODUCTS to the Goods passes to the Purchaser the Purchaser must:
be delivered or installed otherwise than at BRITANNIC’s premises: (i) store them at its own cost on its premises separately from any other goods and in a manner which makes them readily identifiable as the Goods time of the Company;
such delivery or installation; or (ii) if the CUSTOMER fails to allow delivery or installation in accordance with these CONDITIONS, then at the time when BRITANNIC has attempted such delivery or installation.
7.2 Notwithstanding delivery or installation and the passing of risk in the PRODUCTS or any other provision of these CONDITIONS, property in the PRODUCTS shall not destroy, deface pass to the CUSTOMER until BRITANNIC has received in cash or obscure any identifying mark or packaging clear funds payment in full of the Goods;price of the PRODUCTS and all other PRODUCTS and SERVICES agreed to be supplied by BRITANNIC to the CUSTOMER under any Contract for which payment is then due.
7.3 Without prejudice to the generality of Clause 7.2, in the event that BRITANNIC allows the CUSTOMER credit terms or terms upon which the CUSTOMER can pay the price by instalments, property in the PRODUCTS shall not pass to the CUSTOMER until the final instalment of the purchase price has been made to BRITANNIC.
7.4 Until property in PRODUCTS passes from BRITANNIC to the CUSTOMER: (iiia) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risks; and
(iv) CUSTOMER shall hold the proceeds PRODUCTS as BRITANNIC’s fiduciary agent and bailee and shall keep the PRODUCTS separate from those of insurance referred to in clause 5c(v)(iii) on trust for the Company CUSTOMER and not mix them with any other moneythird parties and properly stored, nor pay the proceeds into an overdrawn accountprotected and insured and identified as BRITANNIC’s property.
(vb) allow access BRITANNIC shall be entitled at any time to count and verify Goods pertain require the CUSTOMER to clause 5d.The Purchaser’s right deliver up the PRODUCTS to possessionBRITANNIC and, use and resale if the CUSTOMER fails to do forthwith, to enter upon any premises of the Goods will terminate immediately if, before ownership of CUSTOMER or any third party where the Goods passes PRODUCTS are stored and repossess the PRODUCTS; and (c) the CUSTOMER shall not to the Purchaser:
i. the Purchaser becomes (or threatens be entitled to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser encumbers pledge or in any way charges charge by the way of security for any indebtedness any of the Goods; or
v. PRODUCTS. However, if the Agreement expires or terminates for any reason.
d. If the Purchaser’s right CUSTOMER purports to possessiondo so in breach of these CONDITIONS, use and resale of the Goods terminates in accordance with clause 5e, the Company will be entitled to issue the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereon.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold monies owing by the Purchaser before payment for them has been made, CUSTOMER to BRITANNIC under any such sale Contract shall be a sale (without prejudice to any other right or remedy of the Company’s property on the Purchaser’s own behalf BRITANNIC) forthwith become due and the Purchaser deals as principal when making such a salepayable.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: General Terms and Conditions
RISK AND PROPERTY. a. 8.1 The Goods Equipment shall remain be at the property risk of the Company until their full Price has been received by delivery to the Company and all other sums which are or become due from Customer at the Purchaser on any account with the Company have been received by place of delivery specified in the Company's quotation (or, failing that, in the Customer’s purchase order). The Company shall off-load the Equipment at the Customer's risk.
b. Risk of damage to or loss 8.2 Ownership of the Goods will Equipment shall pass to the Purchaser Customer on Delivery.the later of completion of delivery (including without limitation off-loading), or when the Company has received in full in cleared funds all sums due to it in respect of: (a) the Equipment; and
c. Until title (a) hold the Equipment on a fiduciary basis as the Company's bailee;
(b) store the Equipment (at no cost to the Goods passes to the Purchaser the Purchaser must:
(iCompany) store them at its own cost on its premises in satisfactory conditions and separately from any all the Customer's other goods and in equipment or that of a manner which makes them third party, so that it remains readily identifiable as the Goods of the Company's property;
(iic) not destroy, deface or obscure any identifying mark ▇▇▇▇ or packaging of on or relating to the Goods;Equipment; and
(iiid) maintain keep the Goods in a satisfactory condition Equipment insured on the Company’s 's behalf for their its full Price price against all risks; and
(iv) risks with a reputable insurer to the reasonable satisfaction of the Company, ensure that the Company's interest in the Equipment is noted on the policy, and hold the proceeds of such insurance referred to in clause 5c(v)(iii) on trust for the Company and not mix them with any other money, nor pay the proceeds into an overdrawn bank account.
(v) allow access to count and verify Goods pertain to clause 5d.8.4 The Purchaser’s Customer's right to possession, use and resale possession of the Goods will Equipment before ownership has passed to it shall terminate immediately if, before ownership if any of the Goods passes to circumstances set out in condition 17 arise or if the Purchaser:
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser Customer encumbers or in any way charges the Equipment, or if the Customer fails to make any payment to the Company on the due date.
8.5 The Customer grants the Company, its agents and employees an irrevocable licence at any time to enter any premises where the Equipment is or may be stored in order to inspect it, or where the Customer's right to possession has terminated, to remove it. All costs incurred by the Company in repossessing the Equipment shall be borne by the Customer.
8.6 On termination of the Goods; or
v. the Agreement expires or terminates for any reason.
d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the Company will be entitled to issue Company's (but not the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereonCustomer's) rights in this condition 8 shall remain in full force and effect.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold by the Purchaser before payment for them has been made, any such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a sale.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
RISK AND PROPERTY. a. 7.1 The Goods Supplied Equipment shall remain be at the property risk of HSVS until delivery to the Customer at the Site. HSVS shall off-load the Supplied Equipment at the Customer’s risk.
7.2 Ownership of the Company until their Supplied Equipment shall pass to the Customer on the later of completion of delivery (including without limitation off-loading), or when HSVS has received in full in cleared funds the Purchase Price has been received by the Company and all other sums which are or which become due to HSVS from the Purchaser Customer on any account with the Company have been received by the Companyaccount.
b. Risk of damage to or loss 7.3 Until ownership of the Goods will pass Supplied Equipment has passed to the Purchaser on Delivery.
c. Until title to Customer under condition 7.2, the Goods passes to the Purchaser the Purchaser mustCustomer shall:
(ia) hold the Supplied Equipment on a fiduciary basis as HSVS’s bailee;
(b) not be entitled to sell, transfer, lease, charge, assign by way of security or otherwise deal in or encumber the Supplied Equipment;
(c) store them the Supplied Equipment (at its own no cost on its premises to HSVS) in satisfactory conditions and separately from any all the Customer’s other goods and in equipment or that of a manner which makes them third party, so that it remains readily identifiable as the Goods of the CompanyHSVS’s property;
(iid) not destroy, deface or obscure any identifying mark ▇▇▇▇ or packaging of on or relating to the Goods;
(iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risksSupplied Equipment; and
(ive) keep the Supplied Equipment insured on HSVS’s behalf for its full price against all risks with a reputable insurer to the reasonable satisfaction of HSVS, ensure that HSVS’s interest in the Supplied Equipment is noted on the policy, and hold the proceeds of such insurance referred to in clause 5c(v)(iii) on trust for the Company HSVS and not mix them with any other money, nor pay the proceeds into an overdrawn bank account.
7.4 If in breach of clause 7.3(b) above the Customer sells the Supplied Equipment then any proceeds of sale in respect thereof and all rights arising under or in respect of said sale shall be held (vin the case of the proceeds of sale in a separate account) allow access to count and verify Goods pertain to clause 5dby the Customer as trustee for HSVS.
7.5 The PurchaserCustomer’s right to possession, use and resale possession of the Goods will Supplied Equipment before ownership has passed to it shall terminate immediately if, before ownership if any of the Goods passes to circumstances set out in clause 12 arise or if the Purchaser:
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser Customer encumbers or in any way charges the Supplied Equipment, or if the Customer fails to make any payment to HSVS on the due date.
7.6 The Customer grants HSVS, its agents and employees an irrevocable licence at any time to enter any premises where the Supplied Equipment is or may be stored in order to inspect it, or where the Customer’s right to possession has terminated, to remove it. All costs incurred by HSVS in repossessing the Supplied Equipment shall be borne by the Customer.
7.7 On termination of the Goods; or
v. the Agreement expires or terminates agreement for any reason, HSVS’s (but not the Customer’s) rights in this clause 7 shall remain in effect.
d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the Company will be entitled to issue the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereon.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold 7.8 HSVS may appropriate payments by the Purchaser before payment for them has been madeCustomer to such Supplied Equipment as it thinks fit, notwithstanding any purported appropriation by the Customer to the contrary, and may make such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a saleappropriation at any time.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: Hardware Supply Agreement
RISK AND PROPERTY. a. 7.1 The Goods Supplied Equipment shall remain be at the property risk of <Kindly enter Company name> until delivery to the Customer at the Site. <Kindly enter Company name> shall off-load the Supplied Equipment at the Customer’s risk.
7.2 Ownership of the Supplied Equipment shall pass to the Customer on the later of completion of delivery (including without limitation off-loading), or when <Kindly enter Company until their name> has received in full in cleared funds the Purchase Price has been received by the Company and all other sums which are or which become due to <Kindly enter Company name> from the Purchaser Customer on any account with the Company have been received by the Companyaccount.
b. Risk of damage to or loss 7.3 Until ownership of the Goods will pass Supplied Equipment has passed to the Purchaser on Delivery.
c. Until title to Customer under condition 7.2, the Goods passes to the Purchaser the Purchaser mustCustomer shall:
(ia) hold the Supplied Equipment on a fiduciary basis as <Kindly enter Company name> bailee;
(b) not be entitled to sell, transfer, lease, charge, assign by way of security or otherwise deal in or encumber the Supplied Equipment;
(c) store them the Supplied Equipment (at its own no cost on its premises to <Kindly enter Company name>) in satisfactory conditions and separately from any all the Customer’s other goods and in equipment or that of a manner which makes them third party, so that it remains readily identifiable as the Goods of the Company<Kindly enter Company name> property;
(iid) not destroy, deface or obscure any identifying mark or packaging of on or relating to the Goods;
(iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risksSupplied Equipment; and
(ive) keep the Supplied Equipment insured on <Kindly enter Company name> behalf for its full price against all risks with a reputable insurer to the reasonable satisfaction of <Kindly enter Company name>, ensure that <Kindly enter Company name> interest in the Supplied Equipment is noted on the policy, and hold the proceeds of such insurance referred to in clause 5c(v)(iii) on trust for the <Kindly enter Company name> and not mix them with any other money, nor pay the proceeds into an overdrawn bank account.
7.4 If in breach of clause 7.3(b) above the Customer sells the Supplied Equipment then any proceeds of sale in respect thereof and all rights arising under or in respect of said sale shall be held (vin the case of the proceeds of sale in a separate account) allow access to count and verify Goods pertain to clause 5dby the Customer as trustee for <Kindly enter Company name>.
7.5 The PurchaserCustomer’s right to possession, use and resale possession of the Goods will Supplied Equipment before ownership has passed to it shall terminate immediately if, before ownership if any of the Goods passes to circumstances set out in clause 12 arise or if the Purchaser:
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser Customer encumbers or in any way charges the Supplied Equipment, or if the Customer fails to make any payment to <Kindly enter Company name> on the due date.
7.6 The Customer grants <Kindly enter Company name>, its agents and employees an irrevocable licence at any time to enter any premises where the Supplied Equipment is or may be stored in order to inspect it, or where the Customer’s right to possession has terminated, to remove it. All costs incurred by <Kindly enter Company name> in repossessing the Supplied Equipment shall be borne by the Customer.
7.7 On termination of the Goods; or
v. the Agreement expires or terminates agreement for any reason, <Kindly enter Company name> (but not the Customer’s) rights in this clause 7 shall remain in effect.
d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the 7.8 <Kindly enter Company will be entitled to issue the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereon.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold name> may appropriate payments by the Purchaser before payment for them has been madeCustomer to such Supplied Equipment as it thinks fit, notwithstanding any purported appropriation by the Customer to the contrary, and may make such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a saleappropriation at any time.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: Hardware Supply Agreement
RISK AND PROPERTY. a. 13.1 The Goods Equipment shall remain be at the property risk of the Company Supplier until their delivery to the Customer at the place of delivery specified in the Supplier's acknowledgement of order.
13.2 Ownership of the Equipment shall only pass to the Customer on the later of completion of delivery (including off-loading), or when the Supplier has received in full Price has been received by in cleared funds all sums due to it in respect of:
(a) the Company and Equipment; and
(b) all other sums which are or which become due to the Supplier from the Purchaser Customer on any account with the Company have been received by the Companyaccount, including any Licence/Subscription Fee payable.
b. Risk of damage to or loss 13.3 Until ownership of the Goods will pass Equipment has passed to the Purchaser on Delivery.
c. Until title to Customer under clause 13.2, the Goods passes to the Purchaser the Purchaser mustCustomer shall:
(ia) hold the Equipment on a fiduciary basis as the Supplier's bailee;
(b) store them the Equipment (at its own no cost on its premises to the Supplier) in satisfactory conditions and separately from any all the Customer's other goods and in equipment or that of a manner which makes them third party, so that it remains readily identifiable as the Goods of the CompanySupplier's property;
(iic) not destroy, deface or obscure any identifying mark or packaging of on or relating to the Goods;
(iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risksEquipment; and
(ivd) keep the Equipment insured on the Supplier's behalf for its full price against all risks with a reputable insurer to the reasonable satisfaction of the Supplier, ensure that the Supplier's interest in the Equipment is noted on the policy, and hold the proceeds of such insurance referred to in clause 5c(v)(iii) on trust for the Company Supplier and not mix them with any other money, nor pay the proceeds into an overdrawn bank account.
(v) allow access to count and verify Goods pertain to clause 5d.13.4 The Purchaser’s Customer's right to possession, use and resale possession of the Goods will Equipment before ownership has passed to it shall terminate immediately if, before ownership if any of the Goods passes to circumstances set out in clause 18 arise or if the Purchaser:
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser Customer encumbers or in any way charges the Equipment, or if the Customer fails to make any payment to the Supplier on the due date.
13.5 The Customer grants the Supplier, its agents and employees an irrevocable licence at any time to enter any premises where the Equipment is or may be stored in order to inspect it, or where the Customer's right to possession has terminated, to remove it. All costs incurred by the Supplier in repossessing the Equipment shall be borne by the Customer.
13.6 On termination of the Goods; or
v. the Agreement expires or terminates Contract for any reason.
d. If the Purchaser’s right to possession, use and resale of the Goods terminates in accordance with clause 5e, the Company will be entitled to issue Supplier's (but not the Purchaser with a credit note for all or any part of the Price of the Goods together with the value added tax thereonCustomer's) rights in this clause 13 shall remain in effect.
e. The Company may, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold by the Purchaser before payment for them has been made, any such sale shall be a sale of the Company’s property on the Purchaser’s own behalf and the Purchaser deals as principal when making such a sale.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
Appears in 1 contract
Sources: Terms of Business
RISK AND PROPERTY. a. 7.1 The Goods shall be at the Customer’s risk from delivery.
7.2 Despite delivery having been made, property in the Goods shall not pass from the Supplier until:
(a) the Customer has paid the cost of the Goods plus VAT in full; and
(b) no other sums whatever shall be due from the Customer to the Supplier.
7.3 Until property in the Goods passes to the Customer in accordance with this clause, the Customer shall hold the Goods on a fiduciary basis as bailee for the Supplier. The Customer shall store the Goods (at no cost to the Supplier) separately from all other goods in its possession and marked in such a way that they are clearly identified as the Supplier’s property.
7.4 Notwithstanding that the Goods remain the property of the Company until their full Price has been received by Supplier, the Company and all other sums which are or become due Customer may use the Goods in the ordinary course of the Customer’s business. Until property in the Goods passes from the Purchaser on Supplier the entire proceeds of sale or any account with the Company have been received by the Company.
b. Risk of damage to other dealing in or loss of the Goods will pass to shall be held in trust for the Purchaser on DeliverySupplier and shall not be mixed with other money or paid into any overdrawn bank account and shall be at all material times identified as the Supplier’s money.
c. 7.5 The Supplier shall be entitled to recover the costs of the Goods (plus VAT) notwithstanding that property in any of the Goods has not passed from the Supplier.
7.6 Until title to such time as property in the Goods passes to from the Purchaser Supplier, the Purchaser must:
(i) store them at its own cost on its premises separately from any other goods and in a manner which makes them readily identifiable as the Goods of the Company;
(ii) not destroyCustomer shall, deface or obscure any identifying mark or packaging of the Goods;
(iii) maintain the Goods in a satisfactory condition insured on the Company’s behalf for their full Price against all risks; and
(iv) hold the proceeds of insurance referred to in clause 5c(v)(iii) on trust for the Company and not mix them with any other money, nor pay the proceeds into an overdrawn account.
(v) allow access to count and verify Goods pertain to clause 5d.The Purchaser’s right to possession, use and resale upon request deliver up such of the Goods will terminate immediately ifas have not ceased to be in existence or resold to the Supplier. If the Customer fails to do so, before ownership the Supplier may enter upon any premises owned, occupied, or controlled by the Customer where the Goods are situated and repossess the Goods. On the making of such a request, the rights of the Goods passes to the Purchaser:Customer under clause 7.4 shall cease.
i. the Purchaser becomes (or threatens to become) insolvent;
iii. the Purchaser fails to pay any sum due to the Company under the Agreement on or before the due date;
iv. the Purchaser encumbers 7.7 The Customer shall not pledge or in any way charges charge by way of security for any indebtedness any of the Goods; or
v. Goods which are the Agreement expires or terminates for any reasonproperty of the Supplier. Without prejudice to the other rights of the Supplier, if the Customer does so, all sums whatever owing by the Customer to the Supplier shall forthwith become due and payable.
d. If 7.8 The Customer shall insure and keep insured the Purchaser’s right Goods to possession, use and resale the full price against ‘all risks’ to the reasonable satisfaction of the Supplier until the date that property in the Goods terminates in accordance with clause 5e, passes from the Company will be entitled to issue Supplier and shall whenever requested by the Purchaser with Supplier produce a credit note for all or any part copy of the Price policy of insurance. Without prejudice to the other rights of the Goods together with Supplier if the value added tax thereon.
e. The Company mayCustomer fails to do so, so as to discharge any overdue payment under the Agreement recover or resell the Goods.
f. The Company shall be entitled without notice to enter the Purchaser’s premises or such other premises where the Goods are stored.
g. If the Goods are sold all sums whatever owing by the Purchaser before payment for them has been made, any such sale Customer to the Supplier shall be a sale of the Company’s property on the Purchaser’s own behalf forthwith become due and the Purchaser deals as principal when making such a salepayable.
h. For all export sales, the Purchaser must promptly provide Company with satisfactory details and documentary evidence detailing the proposed export of such sale.
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