Common use of TRANSFER OF OWNERSHIP AND RISK Clause in Contracts

TRANSFER OF OWNERSHIP AND RISK. 24.1 The ownership of the Products shall pass to Wavin in conformity with the provisions of clause 23. In the event that Wavin makes payments prior to delivery, the ownership (title) of the Products, in proportion to the amount paid, shall pass to Wavin at the moment of payment. In that case, the Supplier must ensure that the Products are identified and kept identifiable as much as possible and the Supplier shall count as the holder for Wavin in respect of those Products. No retention of title or any other security interest shall exist for the Supplier after the delivery to Wavin.