Shipping Risk definition
Shipping Risk. Any risk associated with the Goods being sold here under rests with the Seller up to the time of receipt of the Goods by UL Contracting Party at the place of delivery, and a proper inspection has been completed by UL LLC without rejection of the Goods. Thereafter such risk is with UL Contracting Party including any risk associated with any Goods thereafter returned to the Seller. However after UL Contracting Party has returned such Goods to the Seller and the Seller has received such Goods, any risk associated with those Goods reverts to the Seller.