Common use of Reservation of ownership Clause in Contracts

Reservation of ownership. 6.1 The supplier reserves ownership in all goods/delivery items supplied by him until full payment – in payment by cheque or bill of exchange until encashment – of all his accounts receivable from the purchaser arising from the business relationship (conditional goods); in this respect all deliveries are deemed to be a connected delivery transaction. For open accounts the reserved property is deemed to be security for the amount outstanding.

Reservation of ownership. 6.1 The supplier reserves ownership in all goods/delivery items supplied by him until full payment – - in payment by cheque or bill of exchange until encashment – - of all his accounts receivable from the purchaser arising from the business relationship (conditional goods); in this respect all deliveries are deemed to be a connected delivery transaction. For open accounts the reserved property is deemed to be security for the amount outstanding.