Common use of Title of Property Clause in Contracts

Title of Property. 4.1 In relation to goods supplied to the Client, ownership and property in the goods vests absolutely with the Company and does not pass to the Client UNTIL the Client: (a) Pays for the goods in full; (b) Pays in full all other monies owing or unpaid by the Client to the Company including monies in respect of goods previously or subsequently supplied to the Client by the Company. 4.2 In relation to goods supplied to the Client for which payment in full has not been received: (a) The relationship between the Client and the Company shall be fiduciary; (b) The Client will hold those goods as bailee for the Company; (c) Where the Client sells those goods, the Client does so as fiduciary agent of the Company; (d) When new goods or objects are formed with the Company’s goods into other products or the goods are affixed to other objects, the Company will be given full ownership of such new goods or objects; (e) Where the goods are disposed of, the monies resulting from the disposal and all other proceeds received in respect of the goods, including insurance proceeds will be kept separately in trust for the Company; (f) Where the goods are disposed of, the Client may only dispose of the goods in the ordinary course of its business on commercially reasonable terms; (g) The Client undertakes that until it delivers the goods to a third party, it will store the goods on its premises separately from its own goods, or those of any other person, and in a manner which makes the goods readily identifiable as the Company’s goods.

Title of Property. 4.1 In relation to goods supplied to the Client, ownership and property Property in the goods vests absolutely with the Company and does Does not pass to the Client UNTIL the Client: (a) Pays for the goods in full; (b) Pays in full all other monies owing or unpaid by the Client to the The Company including monies in respect of goods previously or Or subsequently supplied to the Client by the Company. 4.2 In relation to goods supplied to the Client for which payment in full Full has not been received: (a) The relationship between the Client and the Company shall be fiduciaryFiduciary; (b) The Client will hold those goods as bailee for the Company; (c) Where the Client sells those goods, the Client does so as fiduciary Fiduciary agent of the Company; (d) When new goods or objects are formed with the Company’s goods 's Goods into other products or the goods are affixed to other objectsObjects, the Company will be given full ownership of such new goods Goods or objects; (e) Where the goods are disposed of, the monies resulting from the The disposal and all other proceeds received in respect of the goodsGoods, including insurance proceeds will be kept separately in trust Trust for the Company; (f) Where the goods are disposed of, the Client may only dispose of Of the goods in the ordinary course of its business on commercially Commercially reasonable terms; (g) The Client undertakes that until it delivers the goods to a third partyParty, it will store the goods on its premises separately from its own Own goods, or those of any other person, and in a manner which This makes the goods readily identifiable as the Company’s goodsGoods.