Pay for possession
13 September 2012
Under retention of title clause, purchasers only take ownership of goods when they have been paid for. But there are caveats to this principle, as Susan Singleton explains
Purchasing managers should periodically check that the standard terms and conditions used by their business are up to date and include all relevant legal protection. One area to check where goods are sold is whether there is an appropriate “retention of title clause” in the terms and conditions of sale. This clause states that the buyer does not obtain ownership of...