Common use of Transfer of Risk and Title Clause in Contracts

Transfer of Risk and Title. 5.1 Risk of damage to or loss of any part of the Supplies shall pass to the Customer upon delivery. 5.2 The Supplies shall be deemed delivered if and when the Customer fails to take over the delivery without cause. In such case, the Supplies can be stored and insured at the risk and expense of the Customer and any payment shall become due. The same consequences shall apply on the scheduled date of delivery if the dispatch is postponed for reasons attributable to the Customer. 5.3 Title in any part of the Supplies shall remain with Siemens until Siemens has received full payment for that part of the Supplies.