PASSING OF TITLE AND RISK. 7.1 Notwithstanding the delivery of the goods or part thereof the goods remain the sole and absolute property of the Supplier as full legal and equitable owner until such time as the Purchaser has paid the Supplier the full purchase price together with the full price of any other goods the subject of any other contract with the Supplier. Risk in all goods passes on delivery or collection (as the case may be).
7.2 The Purchaser acknowledges that it receives possession of and holds goods delivered by the Supplier solely as bailee for the Supplier until such time as the full price thereof is paid to the Supplier together with the full price of any other goods then the subject of any other contract with the Supplier. Until such time as the Purchaser becomes the owner of the goods, it must:
(a) Store them on the premises separately;
(b) Ensure that the goods are kept in good and serviceable condition;
(c) Secure the goods from risk, damage and theft; and
(d) Keep the goods fully insured against such risks that are usual or common to insure against in a business of a similar nature to that of the Purchaser.
7.3 Until the goods are paid for in full:
(a) The Supplier authorises the Purchaser to sell the goods but only in the ordinary course of its business;
(b) The proceeds of any sale of the goods (or sale of other goods into which the goods have been incorporated) must be paid into a separate account and held in trust for the Supplier. The Purchaser must account to the Supplier from this fund for the full price of the goods;
(c) The Purchaser is entitled to a period of credit, but if prior to the expiration of the period of credit the goods are sold and the proceeds of sale received the Purchaser shall account to the Supplier for the price of the goods;
(d) Should the Purchaser die stop payment or call a meeting of its creditors or become insolvent or subject to the bankruptcy law or being a company calls a meeting for the purpose of or to go into liquidation or have a winding-up petition presented against it or has a receiver or administrator appointed, the Supplier may at its option notwithstanding its waiver of such default or failure and without prejudice to its other rights under this Agreement suspend or cancel this Agreement or require payment in cash before or on delivery or tender of Goods or documents notwithstanding terms of payment previously specified or may, subject to the law, repossess and take over the goods and dispose of the same in its own in...
PASSING OF TITLE AND RISK. 8.1 From the date of delivery to the Buyer the Goods shall be at the risk of the Buyer who shall be solely responsible for their custody and maintenance, but unless otherwise expressly agreed in writing, the Goods shall remain the property of the Company until all payments due to the Company from the Buyer under the Contract or any other contract have been made in full unconditionally and credited to the Company’s account. Whilst the ownership of the Company continues the Buyer shall keep the Goods separate and identifiable from all other goods in its possession as fiduciary agent and bailee for the Company.
8.2 In the event of any resale by the Buyer of the Goods the beneficial entitlement of the Company shall attach to the proceeds of the sale or other disposition thereof, so that such proceeds or any claim thereof shall be assigned to the Company.
8.3 In the event of failure to pay the price in accordance with the Contract, the Company shall have the power to re-sell the Goods, such power being additional to (and not in substitution for) any other power of sale arising by operation of law or implication or otherwise and for such purpose the Company and its servants and agents may forthwith enter upon any premises or land occupied or owned by the Buyer to remove the Goods.
8.4 Pending payment of the full purchase price of the Goods, the Buyer shall at all times keep the Goods comprehensively insured against loss or damage by accident, fire, theft and other risks usually covered by insurance in the type of business for which the Goods are for the time being used in an amount at least equal to the balance of the price for the same time to time remaining outstanding. The policy shall bear an endorsement recording the Company’s interest and shall be produced to the Company on request.
PASSING OF TITLE AND RISK a) Title in the goods passes to the PURCHASER immediately upon taking possession of the relevant goods.
b) The risk of loss or damage to goods shall pass to the PURCHASER at the time of delivery made in accordance with clause 4.
PASSING OF TITLE AND RISK. Property or title to and risk in the Goods shall remain with the Seller until they are delivered at the point specified in the Order and accepted by the Buyer by signing a delivery order. Passing of property or title to the Goods shall not affect the right to reject the Goods.
PASSING OF TITLE AND RISK. 12.1 Title to the Goods will pass to the Company upon the earlier to occur of payment for the Goods and Services or delivery of the Goods and Services to the Delivery Point. Transfer of title will not affect the rights of the Company under the Purchase Order.
PASSING OF TITLE AND RISK. On the later of:
(1) Completion of an Item of Work; and
(2) the date on which the land on which that Item of Work is situated is dedicated to Council, Council:
(3) accepts ownership, possession and control of; and
(4) risk in, that Item of Work.
PASSING OF TITLE AND RISK. 5.1 Unless otherwise agreed in a Statement of Work or advised by Axians in writing:
5.1.1 risk of loss or damage of any Equipment supplied by Axians to the Customer pursuant to the Agreement will pass to the Customer in accordance with Incoterms FCA; and
5.1.2 title in any Equipment shall pass from Axians to the Customer only once all Relevant Charges have been received by Axians in full.
PASSING OF TITLE AND RISK. 6.1 Passing of title and risk, freight cost Product is sold and purchased under this Agreement on a CFR FO Discharge port basis in a vessel supplied by the Seller. Title to and all risk of loss, damage or destruction to the Product delivered shall pass to the buyer at the time it passes over the ship's rail from the loading devices into the vessel at the Loading Port in accordance with INCOterms 2010. The Seller will arrange and pay for the freight to transport the Product to the Discharge Port.
PASSING OF TITLE AND RISK. DELIVERY Each Party shall be responsible for risk of Where a Delivery Date is agreed in the loss of, and damage to, equipment, Order, CSI will use its reasonable software or other materials in its possession endeavours to provide the Products to meet or under its control save that for these the Delivery Date. Unless otherwise stated purposes Client Equipment installed on in an Order, time shall not be of the essence CSI’s Facilities (if any) shall be and remain with respect to any Delivery Date and CSI at the Client’s risk with effect from delivery shall have no liability for any delay to a of such Client Equipment to CSI’s Facilities. Delivery Date to the extent that it results Title in any tangible Products shall only pass from any failure on the part of Client to from CSI to Client once Client has paid all comply with any of its obligations under the Charges and all other monies owed to CSI relevant Order. under the agreement in cleared funds. This If no such Delivery Date is specified or Part D Clause 4.2 does not apply in the case agreed, CSI shall use its reasonable of equipment that is leased by CSI to Client. endeavours to deliver or supply the 5. CHARGES AND PAYMENTS Products to Client as soon as reasonably The provisions of Part A Clauses 4.1 to 4.11 possible. CSI shall not be liable for any loss, apply to Charges for Orders for Products. liability or expense caused by any delay in Unless otherwise stated in an Order, any such delivery or supply. Subject to a Charges for Products and one-off Charges Project Plan, CSI shall be entitled to deliver shall be invoiced on delivery. or supply the Products in one delivery or by 6.
PASSING OF TITLE AND RISK. Risk and title to the Products will remain with you until the Products have been Delivered to the University when title and risk will pass to the University.
