Retention of Title Clause
All sales of goods by Invision Enterprises are subject to the following retention of title terms, which take precedence over any terms proposed by the buyer.
1. Retention of Title
- Notwithstanding the delivery of the goods, the legal and equitable title in all products ("the Goods") supplied by Invision Enterprises ("the Supplier") to the customer ("the Customer") shall not pass to the Customer until the Supplier has received payment in full (in cash or cleared funds) for:
- the Goods; and
- any other goods or services that the Supplier has supplied to the Customer in respect of which payment has become due.
- Until title to the Goods has passed to the Customer, the Customer shall:
- hold the Goods as the Supplier's fiduciary agent and bailee;
- store the Goods separately from all other goods held by the Customer so that they remain readily identifiable as the Supplier's property;
- not remove, deface, or obscure any identifying mark or packaging on or relating to the Goods;
- maintain the Goods in satisfactory condition and keep them insured against all risks for their full price from the date of delivery;
- hold the proceeds of any insurance policy on trust for the Supplier and not mix them with any other money; and
- provide the Supplier with such information relating to the Goods as the Supplier may require from time to time.
- The Customer may resell or use the Goods in the ordinary course of its business. However, if the Customer resells the Goods before title has passed to it, the legal title to the Goods shall pass from the Supplier directly to the end customer. The Customer acts as the Supplier's agent in such a transaction, and the proceeds of any such sale shall be held in trust for the Supplier in a separate account. The Customer shall immediately remit such proceeds to the Supplier.
- The Supplier may, at any time before title to the Goods passes to the Customer, require the Customer to deliver up the Goods to the Supplier and, if the Customer fails to do so promptly, may enter any premises of the Customer or of any third party where the Goods are stored in order to recover them.
- The Customer 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 Supplier. If the Customer does so, all money owing by the Customer to the Supplier shall immediately become due and payable.
Important Notice
These terms and conditions should be included in all sales agreements, quotations, and invoices. They must be communicated to the customer prior to the formation of the contract. For maximum legal protection, we recommend having these terms reviewed by a legal professional in your jurisdiction.
General Terms
All products remain the property of Invision Enterprises until paid for in full. This includes all computing and networking products such as desktops, laptops, routers, switches, cables, accessories, and Brother label printer tapes.
Invision Enterprises reserves the right to reclaim products without notice if payment terms are not adhered to. The customer is responsible for any costs associated with the recovery of goods.