RISK OF LOSS/PASSAGE OF TITLE Sample Clauses
The "Risk of Loss/Passage of Title" clause determines when ownership of goods and the responsibility for any potential damage or loss transfers from the seller to the buyer. Typically, this clause specifies the exact point—such as upon delivery to a carrier, at the buyer’s premises, or after full payment—when the buyer assumes both legal title and risk. For example, if goods are damaged in transit, whether the seller or buyer bears the loss depends on the terms set in this clause. Its core function is to clearly allocate responsibility for goods during the transaction, thereby reducing disputes and uncertainty over who bears the risk at each stage of the sale.
RISK OF LOSS/PASSAGE OF TITLE. Title to the equipment purchased under the Contract shall pass from Contractor to State on the date of installation for Contractor-installed equipment or on the date of delivery for State-installed equipment. Prior to the passage of title, all risk of loss or damage shall be on the Contractor.
RISK OF LOSS/PASSAGE OF TITLE. Seller shall bear all risk of loss or damage to goods covered by the purchase orders until acceptance of delivery by Buyer at the FOB Point. This does not relieve Seller of risk of loss responsibility for hidden damages discovered after acceptance of delivery. Title to goods shall pass to Buyer at the FOB Point, or sooner if so provided in the purchase order.
RISK OF LOSS/PASSAGE OF TITLE. Case’s release of Products to any carrier for transportation to Dealer shall constitute delivery to Dealer for purposes of passage of title, and Dealer shall bear all risk of loss or damage to Products thereafter. For Will Call orders, risk of loss and passage of title shall be as set forth in the DOG.
RISK OF LOSS/PASSAGE OF TITLE. All deliveries required under this Agreement will be F.O.B destination with all transportation, packaging, labeling, and handling costs, expenses, and/or charges prepaid by Seller. All responsibility and liability for loss and/or damage will remain with Seller until final inspection and acceptance by Buyer when responsibility will pass to Buyer except as to latent defects, fraud, and Buyer’s warranty obligations. Title in the Goods will pass to Buyer once payment has been made and the Buyer has accepted the Goods (or any portion thereof) in accordance with Section 5.3.
RISK OF LOSS/PASSAGE OF TITLE. New Holland’s release of Products to any carrier for transportation to Dealer shall constitute delivery to Dealer for purposes of passage of title, and Dealer shall bear all risk of loss or damage to Products thereafter. For Will Call orders, risk of loss and passage of title shall be as set forth in the DPM.