Distribution of Products/TITLE of goods purchased
I asked a question about the title that you didn't understand.
Let me try and explain.........
When we issue a TDLC to the supplier, the TITLE gets transferred to us. That then obviously means that we are the owner of the product.
What is this title that gets transferred? Is it a specific document confirming/appointing me as the owner of the product or is it a certain set of documents?
Hope this explains in more detail.
Thanks for being a bit clearer.
It depends upon the product supplied. In general, the bill of sale implies that you are the "titled" owner of the goods. Depending upon what it is that you're buying there might be other paperwork associated. For example, if you are buy a vehicle, boat, house, then for sure there are registries of titles and a document is issued for such. In the registry, your name replaces that of the previous owner. This also proves that due diligence was performed and that you indeed are the rightful new owner of the title.
When you buy a device, say a PC, the sales invoice becomes your proof of title, but the warranty for example, and official recognition by the manufacturer, only recognizes your title happens when you register with manufacturer.
If you are taking title of a shipment of beans, then as I understand it, your title would be the bill of sale - though on this front, you'd have to ask a lawyer for more info. If it's a forward contract to supply beans in say 6 months, I'd expect your title is the forward contract which only is enforceable upon proof of payment and the date of delivery being reached; though how you discern which lot is yours is not clear to me.
Do you have legal advice at hand? Given this sort of question, not just having title but a host of other aspects would also come into consideration and I recommended you seek out an expert that you pay who would be insured and culpable if anything is amiss.