New Goods definition
Examples of New Goods in a sentence
On each Business Day ITEC agrees to offer to sell to NFC, to endorse or otherwise assign to NFC, without recourse, except as provided herein, and to deliver to NFC all Retail Contracts, Leases and Wholesale Contracts acquired in the regular course of ITEC’s business on terms which will afford reasonable compensation for the financing services rendered by NFC to ITEC and Dealers in respect of the sale of New International Products, New Goods or Used Goods.
The Supplier may require the Customer to store the New Goods in a manner that clearly shows the ownership of the Supplier.
The Customer will hold the New Goods on trust for the Supplier until payment of all sums owing to the Supplier whether under these Terms of Trade or any other contract have been made.
Despite paragraph (c), the Customer may transfer, sell or dispose of Goods, including New Goods, to a third party in the ordinary course of business.
TFC shall be obligated to pay the Invoice Cost, less any discount applicable to TFC from time to time (the “Net Invoice Cost”), in respect of New Goods only for Invoices which TFC approves for payment.