TITLE OF GOODS

The Title to and property of the goods will not pass from RED SHED Industrial Supplies to the customer until the customer has paid the contract price in full (other than the costs of any independent courier) to RED SHED Industrial Supplies in accordance with these conditions. Until then, the customer must possess the goods as a trustee, and must not resell or transfer possession of the goods.

1. Fails to pay the contract price in full when due;
2. Pays for the goods by cheque (in whole or in part) and that cheque is not met on presentation;
3. Commits any act of bankruptcy, becomes bankrupt, or is insolvent under administration, as defined in section 9 of the Corporations Law; or
4. Has a controller appointed, as defined in section 9 of the Corporations Law, in respect of any of the customer's property;

RED SHED Industrial Supplies may:

1. Enter onto the premises where the goods are situated and
2. Repossess the goods, notwithstanding that the goods may have been affixed to any structure by RED SHED Industrial Supplies or the customer, and if necessary for that purpose, may sever the goods from any structure to which they may have been affected.

The customer must also indemnify and keep RED SHED Industrial Supplies indemnified against, and pay to RED SHED Industrial Supplies, all expenses, losses and damages incurred or sustained by RED SHED Industrial Supplies as a result of, or in relation to RED SHED Industrial Supplies exercising its rights under:

1. this clause;
2. under any other term, express or implied, of these conditions; or
3. otherwise at law or in equity, and any bank or other costs, charges or expenses incurred by RED SHED Industrial Supplies resulting from any customer's cheque not being met on presentation.