Common use of Reservation of ownership Clause in Contracts

Reservation of ownership. The Client acknowledges without reservation that the Company retains ownership of the products delivered until full payment has been made, i.e., until the Company has received all sums due. Thus, in case of recourse to a financing solution, the Client is not the full owner of the Product until full payment of the price. In the event of non-payment on the due date, the Company reserves the right to take back the delivered goods without further formality. The goods shall then be returned immediately to the Company at the expense and risk of the Client, who shall be obliged to do so, upon request. If the Products delivered by the Company have already been resold by the Client and have not been paid for, the Company shall automatically acquire the Client's corresponding claim against the successive client. All goods in stock at the Client's premises shall be presumed to be unpaid goods to the extent of the amount due. The Company reserves the right to reclaim the delivered goods in accordance with the provisions of the Commercial Code, including in the event of the Client's receivership or liquidation. The foregoing stipulations are without prejudice to what is agreed above with respect to the transfer of risks. The Customer shall thus be held solely responsible for all risks of deterioration, loss, partial or total destruction, regardless of the cause of the damage, even if it is a fortuitous event or major force.

Appears in 4 contracts

Samples: myfood.eu, myfood.eu, myfood.eu

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