RISK AND TITLE Sample Clauses
The 'Risk and Title' clause defines when ownership of goods and the associated risk of loss or damage transfer from the seller to the buyer. Typically, this clause specifies that title (legal ownership) passes at a certain point, such as upon delivery or payment, while risk may transfer at a different stage, for example, when goods are handed over to a carrier. By clearly delineating these moments, the clause allocates responsibility for the goods during transit or storage, ensuring both parties understand who bears the risk at each stage and reducing disputes over loss or damage.
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RISK AND TITLE. (a) Risk of damage to or loss of the Goods shall pass to the Customer at the time when:
i) in the case of Goods to be delivered otherwise than at the Company’s premises, at the time of delivery or, if the Customer fails to take delivery of the Goods in accordance with the terms of the Contract, the time when the Company tenders delivery of the Goods; or
ii) the Company notifies the Customer that the Goods are available for collection.
(b) Notwithstanding risk in the Goods passing in accordance with Term (7)(a) above, legal and equitable title in the Goods shall not pass to the Customer until payment in full in cleared funds is received by the Company for the Goods and no other amounts are outstanding from the Customer to the Company.
(c) Until title to the Goods has passed to the Customer, the Customer shall:
i) hold the Goods on a fiduciary basis as the Company’s bailee;
ii) store the Goods separately from all other goods held by the Customer so that they remain readily identifiable as the Company’s property;
iii) not remove, deface or obscure any identifying mark or packaging on or relating to the Goods;
iv) maintain the Goods in satisfactory condition and keep them insured against all risks for their full price from the date of delivery;
v) notify the Company immediately if it becomes subject to insolvency proceedings, ceases or threatens to cease to carry on its business or is the subject of any enforcement action by a creditor (including the presentation of a petition for bankruptcy); and
vi) give the Company such information relating to the Goods as the Company may require from time to time, however, the Customer may use the Goods in the ordinary course of its business.
(d) The Company is irrevocably authorised at any time to enter the Customer’s premises or any alternative location where the Goods are stored for the purpose of repossessing, removing and if necessary dismantling such Goods for the purposes of removal.
(e) The Company’s rights set out in this Term (7) shall survive any termination of the Contract.
RISK AND TITLE. (a) Risk of damage to or loss of Products will pass to Customer (i) upon delivery by Signify to Customer in accordance with the applicable INCOTERM; or (ii) in the event that Signify Installs Products on-site, unless agreed otherwise, upon delivery on-site.
(b) Legal title to Products will pass to Customer only when Signify (or its financiers) has received payment for such Products in full and, to the extent permitted by applicable law, Signify received payment in full of all other amounts due by Customer under any other agreement with Signify (or any of its affiliates). Until legal title to Products has passed to Customer, Customer shall (i) not assimilate, transfer or pledge any of the Products, or grant any right or title in the Products to any third party, except in the normal course of business and against payment or subject to retention of title; and (ii) ensure that the Products remain identifiable as Products owned by Signify. In the event of breach by Customer, Signify may require that Customer return to Signify, at Customer’s cost (including costs for de-installation), all Products in which the title has not yet passed and Customer shall fully cooperate to enable Signify to collect such Products and grant Signify (or its representative) free access to the location of the Products, and other equipment supplied and/or used by Signify in the performance of Services.
RISK AND TITLE. The Products will be at your risk from the time of delivery in the address indicated by You. Ownership of the products will only pass to You when we receive full payment of all sums due in respect of the products, including delivery charges, or upon delivery (as defined in clause 8 above), should this be later.
RISK AND TITLE. 8.1 Risk of damage to or loss of the System/Equipment and the requirement to insure the equipment shall pass to the Customer at the time of delivery to the Site.
8.2 Title to the Customer’s Equipment shall not pass to the Customer until the Company has received payment in full in cleared funds, of the Installation/supply Charge of the System/Equipment together with any charges levied under the terms of Clause 6. Including for any interest and administrative charge applied.
8.3 Until such time as title to the Customer’s Equipment passes to the Customer, the Customer shall hold the Customer’s Equipment as the Company’s fiduciary agent and bailee.
RISK AND TITLE. 4.1. The risk of loss of, or damage to, the Goods shall pass from Miraclon to the Customer as specified in the applicable Incoterm.
4.2. Subject to the provisions of the Software license, title to the Equipment will pass from Miraclon to the Customer upon payment in cleared funds of all amounts due to Miraclon, however incurred. Title to the Consumables and the Parts will pass from Miraclon to the Customer upon Delivery.
4.3. Until full ownership passes to the Customer, the Customer shall maintain the Equipment in good order and shall keep the Equipment insured against all risk of loss or damage for Miraclon and shall provide Miraclon with proof of insurance upon request.
RISK AND TITLE. 7.1 The risk of loss of, or damage to, the Goods shall pass from Kodak to Customer as specified in the applicable Incoterm.
7.2 Subject to the provisions of the Software license, title to the Goods will pass from Kodak to Customer upon payment of all amounts due to Kodak, however incurred. As long as Kodak retains title on the Goods, the Customer may not without Kodak’s agreement sell or transfer the Goods to a third party or pledge or charge or give to any third parties any security on the Goods. Customer shall keep the Equipment in good working order and insured against all risk of loss or damage for Kodak and shall provide Kodak with proof thereof upon request. Customer will keep the Goods clearly identified as Kodak property and inform the landlords of its Site that Kodak owns the Goods. Until ownership of the Goods passes from Kodak, Customer irrevocably authorises Kodak and its representatives to enter any premises where Kodak reasonably believes the Goods are situated to repossess the same at Customer’s expense. Kodak can carry out any works to premises (at the Customer’s expense without being liable to reinstate) necessary to remove the Goods.
RISK AND TITLE. 17.1 Risk in the Goods passes to the Client immediately upon Delivery and the Client must insure the Goods at its own expense from the date of Delivery.
17.2 Title in any Goods rented by Company to the Client shall at all times remain with Company.
17.3 Any payment made by or on behalf of the Client which is later avoided by the application of any statutory provisions will be deemed not to discharge Company’s title in any Goods sold by Company or the Client’s indebtedness to Company.
17.4 Where Goods are sold by Company to the Client without payment of the price in full being made prior to Delivery, the Client must:
(a) keep the Goods in its possession and take good care of them and store them; and
(b) immediately return the Goods to Company on demand.
17.5 In the event the Client fails to return the Goods to which it has title following the making of a demand, Company or its agents shall be granted access to the premises at which the Goods are located and take possession of the Goods. The Client agrees to obtain any consent necessary for such entry by Company and to indemnify Company or its agents for any liability arising from any entry upon such premises and the seizure of the Goods.
17.6 Where Goods have been returned or repossessed under clauses 17.4 or 17.5, Company may resell the Goods to another person. Company will be entitled to retain the proceeds of any Goods sold to the extent necessary to cover the indebtedness of the Client.
17.7 The Client acknowledges that if it mixes the Goods with other products or items so that the Goods are no longer separately identifiable, the Client and Company will be owners in common of the new product, and that Company will continue to hold a security interest in the processed or commingled goods.
17.8 The Client must not attempt to give or allow any security interest, lien, mortgage, claim or similar interest to exist or arise over the Goods in which Company retains title or any proceeds from the sale of those Goods in favour of another person (other than Company).
RISK AND TITLE. B5.1 Risk in any goods provided as part of the Services shall pass to the Council upon delivery without prejudice to any rights of rejections which may accrue to the Council under the Contract or otherwise.
B5.2 Title in any goods provided as part of the Services shall pass to the Council upon delivery or earlier payment.
RISK AND TITLE. Subject to clause 6, ownership of, and risk in, your Milk will pass to us once loaded into our collection vehicle at your Farm(s). The Processor becomes the owner of the milk when the hose is decoupled from the vat and the supplied milk is in the truck’s tank or other transport device, in accordance with section 30 of the Code.
RISK AND TITLE. Risk in the Deliverables passes from the Supplier to Boeing on the completion of both delivery and Acceptance. Ownership of, and unencumbered title to, the Deliverables or any part of the Deliverables passes to Boeing upon payment. Where payment is made in instalments, ownership passes in proportion to the percentage paid.