Common use of PASSING OF TITLE Clause in Contracts

PASSING OF TITLE. RISK Property in, and risk of loss or damage to, the Goods passes to Us when the Goods are delivered to Us unless consignment terms are otherwise agreed in writing by the parties. In case of technical equipment, the risk shall transfer to Us only after inspection and functional testing has been undertaken with satisfactory results. You shall at your own cost, take out all necessary insurance policies with a reputable insurance company to insure the Goods until risk passes to Us. On request, You will provide Us with copies or certificates of such insurance as evidence of compliance with this clause 6.

PASSING OF TITLE. RISK Property in, and risk of loss or damage to, the Goods passes to Us when the Goods are delivered to accepted by Us unless consignment terms are otherwise agreed in writing by the parties. In case of technical equipment, the risk shall transfer to Us only after inspection and functional testing has been undertaken with satisfactory results. You shall at your own cost, take out all necessary insurance policies with a reputable insurance company to insure the Goods until risk passes to Us. On request, You will provide Us with copies or certificates of such insurance as evidence of compliance with this clause 6.