Common use of Transfer of ownership and risk Clause in Contracts

Transfer of ownership and risk. INEOS will retain ownership of the Products, to the fullest extent permitted by law, until payment for the relevant quantity is received by INEOS even if Customer has co-mingled the Products with other goods or processed (in which case INEOS will become co-owner of the goods). If payment for Products delivered is not received INEOS may in addition to its other rights under law enter Customer’s premises to recover the Products / co-mingled goods. If the Products / co-mingled goods are resold before the payment is completed, INEOS shall be entitled to the receivables for the purchase price. Risk in the Products shall pass to Customer as per the applicable incoterm. Definitions in “Incoterms 2020” apply.

Transfer of ownership and risk. INEOS will retain ownership of the Products, to the fullest extent permitted by law, until payment for the relevant quantity is received by INEOS even if Customer has co-mingled the Products with other goods or processed (in which case INEOS will become co-owner of the goods). If payment for Products delivered is not received INEOS may may, in addition to its other rights under law law, enter Customer’s premises to recover the Products / co-mingled goods. If the Products / co-mingled goods are resold before the payment is completed, INEOS shall be entitled to the receivables for the purchase price, which are hereby transferred to INEOS as security. Risk in the Products shall pass to Customer as per the applicable incoterm. Definitions in “Incoterms 2020” apply.