Common use of COLLECTION OF THE LOT Clause in Contracts

COLLECTION OF THE LOT. 7.1 unless otherwise agreed in writing with you by Gorringe’s, the Lot will be released to you or to your order only when Gorringe’s has received cleared funds to the amount of the full Purchase Price and all other sums owed by you to the Seller and to Gorringe’s; 7.2 the Seller is entitled to withhold possession from you of any other Lot he has sold to you at the same or at any other Sale and whether currently in Gorringe’s possession or not until payment in full and in cleared funds of the Purchase Price and all other sums due to the Seller and/or Gorringe’s in respect of the Lot; 7.3 you will collect and remove the Lot at your own expense from Gorringe’s custody and/ or control or from the Storage Contractor’s custody in accordance with Gorringe’s instructions or requirements; 7.4 you will be wholly responsible for packing, handling and transport of the Lot on collection and for complying with all import or export regulations in connection with the Lot; 7.5 you will be wholly responsible for any removal, storage or other charges or expenses incurred by the Seller if you do not remove the Lot in accordance with this paragraph 7 and will indemnify the Seller against all charges, costs, including any legal costs and fees, expenses and losses suffered by the Seller by reason of your failure to remove the Lot including any charges due under any Storage Contract. All such sums due to the Seller will be payable on demand.