The property in the goods sold shall remain with the Company until the Purchaser pays for them (cash or cleared funds) in full and the Purchaser shall have possession of them until payment as the Company’s fiduciary agent and bailee only and shall keep the goods identified as the Company’s property.
Risk in the goods sold shall pass to the Purchaser on delivery notwithstanding that ownership will not pass until payment is made in full. The Customer grants an irrevocable licence to the Company and its agents to enter on to the Customer’s premises with vehicles if necessary for the purpose of taking possession of the Company’s property. In the event of any resale by the Customer to a third party of the Company’s goods, the beneficial entitlement of the Company shall attach to any claim against the Customer’s purchaser and to any proceeds of that sale and the Customer shall have a fiduciary duty to account to the Company for the claim and the proceeds. Where proceeds of such a sale are received by the Customer, the Customer shall keep them in a separate account as agent for the Company until the amount due to the Company is paid.