Question: My supplier is insisting that I take all legal risk related to my goods once they are delivered is this fair?Answer:
Legal risk is usually taken by the person receiving the products on receipt of them, so that if anything happens to the stock whilst it is in your possession then you, not the supplier, will be responsible for it. If you have concerns about this you should ask that legal risk only transfer upon the payment of the goods. You should be sure that if the supplier is delivering the goods that they take responsibility for them when they are being transferred so that if something happens to the products before they are delivered to you it is not your problem. You should be aware of PPSA implications relating to your products when receiving or storing large amounts of stock.