Common use of RETENTION OF TITLE AND RISK Clause in Contracts

RETENTION OF TITLE AND RISK. 7.1. When Property Passes Title in the goods supplied by Supplier to Customer does not pass to Customer until Customer has paid all sums owing to Supplier on any account whatsoever. Where Customer does not make payment in respect of specific goods, payment must be treated as having been made first in respect of goods which have passed out of the possession of Customer, and then in respect of whatever goods, still in the possession of Customer, Supplier elects.

RETENTION OF TITLE AND RISK. 7.1. 7.1 When Property Passes Title in the goods supplied by Supplier to Customer does not pass to Customer until Customer has paid all sums owing to Supplier on any account whatsoever. Where Customer does not make payment in respect of specific goods, payment must be treated as having been made first in respect of goods which have passed out of the possession of Customer, and then in respect of whatever goods, still in the possession of Customer, Supplier elects.