Common use of Transfer of Risk and Title Clause in Contracts

Transfer of Risk and Title. 2.2.1 Risk in the Goods shall pass to Buyer in accordance with the agreed Incoterm (2010) as set out in the Contract. 2.2.2 In the case of payment by way of prepayment pursuant to Article 3.2.1, title to the Goods shall transfer from Seller to Buyer upon delivery in accordance with the agreed Incoterm, unless otherwise provided in the Contract. 2.2.3 In the case of payment by way of post payment pursuant to Article 3.2.2, Seller shall retain title to the Goods to the fullest extent permitted by law, until payment for the relevant quantity is actually received from Buyer, even if the Goods have been co-mingled. Until payment is made, the Goods must be separately stored, identified (where possible) and must be returned to Seller or be made available for collection by Seller at Seller’s request. Seller may enter Buyer’s premises to collect the Goods and Seller may maintain an action for payment, notwithstanding that Seller retains ownership of the Goods.