Common use of Ownership and Insurance of Goods, Vehicles and Equipment Clause in Contracts

Ownership and Insurance of Goods, Vehicles and Equipment. All goods, vehicles, or equipment purchased with Centre Funds, whether procured by the Recipient, a Collaborating Institution, or the Centre, shall be regarded, at the time of delivery, as Property belonging to the recipient receiving the goods, vehicles or equipment. The recipient receiving goods, vehicles and equipment purchased with Centre Funds, shall insure any goods, vehicles, or equipment purchased with Centre Funds and assumes any and all liability relating to its failure or inability to secure insurance coverage. Under no circumstances will the Centre assume responsibility in the event of loss or damage to any goods, vehicles or equipment purchased with Centre Funds.

Ownership and Insurance of Goods, Vehicles and Equipment. All goods, vehicles, or equipment purchased with Centre Funds, whether procured by the Recipient, a Collaborating Institution, or the Centre, shall be regarded, at the time of delivery, as Property belonging to the recipient Recipient receiving the goods, vehicles or equipment. The recipient receiving goods, vehicles and equipment purchased with Centre Funds, Recipient shall insure any goods, vehicles, or equipment purchased with Centre Funds and assumes any and all liability relating to its failure or inability to secure insurance coverage. Under no circumstances will the Centre assume responsibility in the event of loss or damage to any goods, vehicles or equipment purchased with Centre Funds.