retention of title definition
retention of title means the contractual agreement according to which the seller retains title to the goods in question until the price has been paid in full;
retention of title means retention by the seller of title to the goods in question until the buyer has paid the price in full;
retention of title means the agreement, irrespective of any formal requirements, that the seller remains the owner of the goods in question until the price has been paid in full;
More Definitions of retention of title
retention of title means the contractual agreement according to which the seller
retention of title means the agreement, irrespective of any formal requirements, that the seller remains the owner of the goods in question until the price has been paid in full; the term 'seller' shall comprise the supplier of goods which are to be produced or manufactured;
retention of title. The products shall remain our property until payment in made in full. In the event when the delivered products are resold before full payment, all products of the same type, delivered during the last 6 months by Gala and owned by customer could be seized up to a value estimated o▇ ▇▇e current price list, and according the amount owed. In the even the customer is subject to any action from a third party, he must immediately inform the seller so that he can protect his rights. In addition, customer cannot give. as a guaranty property of the goods. Should the customer use the goods as collateral, GAIA Converter shall have. the right to take the goods away from the customer. All amount due then become Immediately payable without further notice. Customer must have a proper insurance to cover all risk related to delivered or said delivered goods (article 5). The above clauses can be placed In force as soon as any payment is outstanding. Retention of title and collective procedure - the goods being sold under the clause of retention of title, the ownership transfer can only occur when full payment for all goods and accessories have been received. In the event that the customer is subject to a judiciary procedure, he must Inform GAIA Converter by registered mail with acknowledgement within 15 days of the start of such procedure, so that GAIA Converter can claim the goods being part of the company assets. Fn that respect the customer will make sure that goods can be well identified in his office or warehouse, or the price that they were sold. Customer will make due diligence in making sure that the germs of the insurance contract are fully respected, following a claim that the seller may place. 10 Applicable laws - Jurisdiction: The sale: of our products shall be regulated exclusively by the French law whatever final the destination of the product. Any action that may arise that cannot be settle in a friendly manner by the parties will be submitted to the _Tribunal du Commerce_ located within district were GAIA Converter is registered. The present clause is stipulated in GAIA Converter's interest and
retention of title the title shall belong to AA-I until the purchase price, including all costs connected to the purchase, has been paid in full by the Buyer.