Risk and Property (07)

7. Risk and Property

7.1 Risk of damage to or loss of Goods shall pass to the Buyer at the time of delivery or if the Buyer wrongfully fails to take delivery of Goods at the time when the Seller has tendered the delivery of the Goods.

7.2 For the avoidance of doubt, where the Goods are to be delivered otherwise than at the Seller's premises the Goods shall be at the Buyer's risk as from the moment of dispatch ex-work, or if earlier from notification to the Buyer that the Goods are ready for dispatch.

7.3 Notwithstanding delivery in passing risk in the Goods or any other provision in these Conditions the property in the Goods shall not pass to the Buyer until the Seller has received in cash or cleared funds payment in full of the price of the Goods and all other goods agreed to be sold by the Seller to the Buyer for which payment is then due.

7.4 Until such time as the property in the Goods passes to the Buyer the Buyer shall hold the Goods as the Seller's agent and bailee and shall keep the Goods separate from those of the Buyer and third parties, and properly stored insured and identified as the Seller's property.

7.5 Until such time as the property in the Goods passes to the Buyer, the Seller should be entitled at any time to require the Buyer to deliver up the Goods to the Seller, and if the Buyer fails to do so forthwith the Seller will be entitled to enter upon any premises of the Buyer which the Goods are stored (for which purpose the Buyer hereby irrevocably authorises the Seller) and repossess the Goods.

7.6 The Buyer shall not be entitled to pledge or in any way charge by way of security for any indebtedness any of the Goods which remain the property of the Seller.