Glossary
Retention of title
Definition
Retention of title is a clause that keeps you owner of the goods delivered until the price is paid in full.
Explanation
It mainly concerns trading and the supply of goods. It must be agreed in writing, before delivery: in the contract, in terms of sale accepted by the client, or on the signed purchase order. It does not replace tracking unpaid invoices, but it gives weight to your request for payment.
Example
Fictional example. A trader delivers 2,800,000 FCFA of electrical equipment with a signed retention-of-title clause. As long as the invoice is unpaid, the equipment legally remains theirs. Indicative wording, to have reviewed: general information, not legal advice.