Common use of TITLE RETENTION CLAUSE Clause in Contracts

TITLE RETENTION CLAUSE. Title to the Goods shall remain in the Seller until the price therefor shall have been fully paid, including any outstanding interest or charges or any ancillary cost. In this respect, the delivery of an instrument creating an obligation to pay, such as a letter of credit or a bank guarantee or any other instrument, shall not constitute payment within the meaning of the present clause; the original claim of the Seller against the Buyer shall remain with all the rights and sureties related thereto, including the retention of title, until said instrument has effectively been paid. By entering into an agreement with the Seller, the Buyer shall inform its customers or creditors of this title retention clause and shall take all necessary measures so that this clause comply with any applicable laws and regulations. From the effective Delivery Date of the Goods to it and until the transfer of title to the Goods to it as provided for in this Title Retention Clause, the Buyer shall ensure, at its own expense, their safe keeping and shall assume any risks and liability in all cases. As a consequence, the Buyer personally undertakes, for as long as the price and related sums have not been paid in full, not to transform or to dispose of the Goods by pledging them or granting any other similar rights or guarantees over the Goods. On the contrary, the Buyer undertakes, to constantly ensure that the Goods are clearly identifiable as being the Seller’s property and to take out corresponding insurance to cover any risks (including in the event of force majeure) which may arise in connection with the Goods until their price has been paid in full. In the event of default in timely payment of a single invoice, all the Goods in the possession of the Buyer for which the price has not been fully paid may be repossessed by the Seller at the Buyer’s own expense and risk and disposed of in accordance with the applicable law. The Goods still in the Buyer’s possession shall be presumed to be those for which payment is still outstanding. Any resale of the Goods by the Buyer, before the total price and related sums has been paid in full, shall result in the automatic assignment to the Seller of the claims and rights of the Buyer further to said sale within the limit of the claims and rights of the Seller. The Buyer undertakes to inform the new buyer of this assignment and to communicate, at the first request of the Seller, all the information necessary for the Seller to collect the assigned claims. In the event of bankruptcy or compulsory winding up or liquidation of the Buyer, the Goods, or, in the event of resale, their price and related sums, may be claimed by the Seller in accordance with the applicable laws and regulations.

TITLE RETENTION CLAUSE. Title 11.1 The Products supplied by the Seller to the Goods shall remain in Buyer will be at the Seller until the price therefor shall have been fully paid, including any outstanding interest or charges or any ancillary cost. In this respect, the Buyer’s risk immediately upon delivery of an instrument creating an obligation the Products to paythe Buyer, such into the Buyer’s custody or at the Buyer’s direction (whichever happens first). 11.2 The Buyer must: • Effect and maintain with a reputable insurance company insurance for the Products, as a letter of credit or a bank guarantee or any other instrumentits own cost, shall not constitute payment within against all risk as it thinks appropriate. • Note the meaning of the present clause; the original claim interest of the Seller against on the insurance policy. • Produce a certificate of currency of the insurance effected by the Buyer under this clause to the Seller upon request. 11.3 Risk in the Products will remain with the Buyer at all the times unless the Seller retakes possession of the Products in accordance with this clause. 11.4 Title in the Products supplied by the Seller to the Buyer will not pass to the Buyer until those Products and any other products supplied by the Seller to the Buyer have been paid for in full. 11.5 Until the Products have been paid for in full the Buyer shall remain with all isolate and store the rights and sureties related theretoProducts in such manner as to clearly indicate that they are the property of the Seller. 11.6 If the Buyer has breached these Conditions (including any payment obligations) or the terms of any relevant sales contract, including the retention Buyer authorizes the Seller, at any time, to enter onto any premises upon which the Seller’s Products are stored to enable the Seller to inspect the Products and/or reclaim the Products. If the Buyer sells or disposes of title, until said instrument the Products (or part thereof) before full payment has effectively been paid. By entering into an agreement with received by the Seller, the Buyer shall inform its customers or creditors of this title retention clause and shall take all necessary measures so that this clause comply with any applicable laws and regulations. From advise the effective Delivery Date Seller in writing specifying full details of the Goods Products sold or disposed, to it and until the transfer of title to the Goods to it as provided for in this Title Retention Clausewhom they were sold or disposed, the Buyer shall ensure, at its own expense, their safe keeping terms of such sale or disposal and shall assume any risks and liability in all cases. As a consequence, the Buyer personally undertakes, for as long as the price and related sums have not been paid in full, not to transform amount(s) received or to dispose of the Goods by pledging them or granting any other similar rights or guarantees over the Goods. On the contrary, the Buyer undertakes, to constantly ensure that the Goods are clearly identifiable as being the Seller’s property and to take out corresponding insurance to cover any risks (including in the event of force majeure) which may arise in connection with the Goods until their price has been paid in full. In the event of default in timely payment of a single invoice, all the Goods in the possession of the Buyer for which the price has not been fully paid may be repossessed by the Seller at the Buyer’s own expense and risk and disposed of in accordance with the applicable law. The Goods still in the Buyer’s possession shall be presumed to be those for which payment is still outstanding. Any resale of the Goods receivable by the Buyer. The Seller shall also be entitled to terminate the Agreement, before the total price and related sums has been paid in full, shall result in the automatic assignment according to the Seller of the claims and rights of the Buyer further to said sale within the limit of the claims and rights of the Seller. The Buyer undertakes to inform the new buyer of this assignment and to communicate, at the first request of the Seller, all the information necessary for the Seller to collect the assigned claims. In the event of bankruptcy or compulsory winding up or liquidation of the Buyer, the Goods, or, in the event of resale, their price and related sums, may be claimed by the Seller in accordance with the applicable laws and regulationsclause 17.

TITLE RETENTION CLAUSE. Title to the Goods shall remain in the Seller until the price therefor therefore shall have been fully paid, including any outstanding interest or charges or any ancillary cost. In this respect, the delivery of an instrument creating an obligation to pay, such as a letter of credit or a bank guarantee draft or any other instrument, shall not constitute payment within the meaning of the present clause; the original claim of the Seller against the Buyer shall remain with all the rights and sureties related thereto, including the retention of title, until said instrument has effectively been paid. By entering into an agreement with the Seller, the Buyer shall inform its customers or creditors of this title retention clause and shall take all necessary measures so that this clause comply with any applicable laws and regulations. Besides, the Buyer shall authorize the Seller to register, at the Buyer’s expense, the retention of title in the official registers, books or any other documents as required by the national legislation in force in the country of the Buyer and/or the destination country of the Goods, and to carry out any of the formalities necessary to make this clause enforceable. From the effective Delivery Date of the Goods to it and until the transfer of title to the Goods to it as provided for in this Title Retention Clause, the Buyer shall ensure, at its own expense, their safe keeping and shall assume any risks and liability in all cases. As a consequence, the Buyer personally undertakes, for as long as the price and related sums have not been paid in full, not to transform or to dispose of the Goods by pledging them or granting any other similar rights or guarantees over the Goods. On the contrary, the Buyer undertakes, to constantly ensure that the Goods are clearly identifiable as being the Seller’s property and to take out corresponding insurance to cover any risks (including in the event of force majeure) which may arise in connection with the Goods until their price has been paid in full. In the event of default in timely payment of a single invoice, all the Goods in the possession of the Buyer for which the price has not been fully paid may be repossessed by the Seller at the Buyer’s own expense and risk and disposed of in accordance with the applicable law. The Goods still in the Buyer’s possession shall be presumed to be those for which payment is still outstanding. Any resale of the Goods by the Buyer, before the total price and related sums has been paid in full, shall result in the automatic assignment to the Seller of the claims and rights of the Buyer further to said sale within the limit of the claims and rights of the Seller. The Buyer undertakes to inform the new buyer of this assignment and to communicate, at the first request of the Seller, all the information necessary for the Seller to collect the assigned claims. In the event of bankruptcy or compulsory winding up or liquidation of the Buyer, the Goods, or, in the event of resale, their price and related sums, may be claimed by the Seller in accordance with the applicable laws and regulations.