Title Transfer

Title Transfer in International Trade

Meaning of Title Transfer, according to the Dictionary of International Trade (Global Negotiator): The act of point in place or time at which ownership of a thing is passed from one person to another. In international trade, this is usually specified in the international sale contract by statements like:

“Seller and buyer agree that title for the contract of goods will pass to the buyer when they have been shipped from the seller's premises”, or “Seller and buyer agree that title for the contact of goods will pass to the buyer when they have been arrived at ………”, or “Seller and buyer agree that the seller will continue to own the contract goods until such time as payment for them has been received.

In some case, a title-bearing document is created through the shipment process; for instance, shipments covered by a negotiable marine bill of lading. Also called transfer of ownership. Model of International Sale Contract.