Common use of Retention of Ownership Clause in Contracts

Retention of Ownership. 5.3.1. In case of deferred payments, the Products shall remain property of the Seller until the integral payment of the Price, in the measure allowed by the law of the Country in which the Products are located. 5.3.2. The Buyer undertakes to do anything necessary to constitute a valid retention of ownership in the most extended form possible, or to constitute an equal guarantee (such as Security Interest, etc..), in favour of the Seller; the Buyer undertakes to cooperate with the Seller to implement all the necessary measures to protect the Seller’s right of ownership. The Seller is entitled to carry out all the necessary formalities in order to make the Seller’s retention of ownership right enforceable against any third party.