DEFECTIVE INVENTORY Sample Clauses

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DEFECTIVE INVENTORY central Stores / User department / Procurement cell of the Institute will be the sole authority to declare inventory as defective either at the time of receiving the goods or after the use of goods. Cost of such defective inventory will be recoverable from forthcoming bill of the supplier or replaced with any other approved stocks, failing which contract may be terminated.
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DEFECTIVE INVENTORY. The Supplier shall: (a) honour the manufacturer’s warranty for all supplied Inventory, including extended warranty terms that the Purchaser has negotiated with bus or Component OEMs; (b) guarantee on-site replacement for Inventory that is defective, inferior or does not fit the intended application (the “Defective Inventory”), based on the warranty provided; (c) replace, at no charge to the Purchaser, Defective Inventory at the site of failure or distribute replacement Inventory to the Purchaser at its desired location at the Supplier’s sole expense; (d) establish a tracking system to ensure the timely replacement or reimbursement of Defective Inventory during the processing of warranty claims ;and (e) maintain warranty records of Inventory sold to the Purchaser and issue any credits due for Defective Inventory and reimbursement for any labour utilized by direct payment within thirty (30) days. In addition to the foregoing, if the Purchaser has selected the Full Service Inventory Service Level, the Supplier shall also provide a distinct area to stage and store Defective Inventory and track warranties for Defective Inventory to ensure that credits are issued to the Purchaser for any inventory purchased by the Purchaser and labour utilized by direct payment within thirty (30) days.
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Related to DEFECTIVE INVENTORY

  • Defective Products 15.1 The Purchaser shall notify GSK or the Nominated Supplier (or ensure that GSK or the Nominated Supplier is notified) in writing within [***] of any Delivery of Products if the Delivery is incomplete in accordance with the terms of this Agreement (a “Rejection Notice”). GSK shall use its Commercially Reasonable Efforts to rectify the incomplete delivery within [***] of receipt of the Rejection Notice. If no Rejection Notice is provided to GSK or the Nominated Supplier within [***] of the Delivery of Products, the Delivery shall be deemed complete. 15.2 The Purchaser shall have the right to reject any allegedly Defective Products upon written notice to GSK, such notice to include the reason(s) for the rejection and to be accompanied with any supporting documentation or other evidence, such right to be exercised within the period stipulated in the Quality Agreement (or, if no such period is stipulated, within (i) [***] after the Delivery of Products or (ii) in the case of Latent Defects, [***] after discovery of the Latent Defect). Unless the Purchaser complies with the provisions of this Clause 15.2, the Delivery of Products shall be deemed accepted by the Purchaser and the Purchaser shall have no right to reject the same. 15.3 If the Purchaser purports to reject any Products pursuant to Clause 15.2: (A) the Purchaser shall store the rejected Products in quarantine in accordance with GSK’s reasonable instructions and shall allow GSK (or its nominated representatives) to inspect and/or analyse the same; (B) the Parties shall use reasonable endeavours to agree whether or not the rejected Products are Defective; and (C) if, within [***] of GSK or the Nominated Supplier being notified pursuant to Clause 15.2, the Parties fail to agree whether or not the rejected Products are Defective, the dispute shall be referred to and determined by an Independent Expert whose decision shall be final and binding on the Parties. The Independent Expert shall act as an expert and not as an arbitrator and (unless the Independent Expert otherwise determines) his or her fees shall be paid by the Party against whom the Independent Expert’s decision is given. CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 15.4 If the Parties agree, or if the Independent Expert finds, that any Products are Defective and have been properly rejected, GSK shall, at its option, either replace the Defective Products or refund to the Purchaser the Price paid for such Defective Products. In addition, GSK shall, at its option, either collect at its own expense the Defective Products from the Purchaser or reimburse the Purchaser for any reasonable costs incurred in its disposal of the Defective Products. Subject to Clause 28 (Indemnities) and Clause 29 (Liability), the remedy set forth in this Clause 15.4, together with any additional remedy set forth in Clause 20.3 (if applicable), shall be the Purchaser’s sole and complete remedy under this Agreement with respect to any Defective Products properly rejected by the Purchaser in accordance with Clause 15.2. 15.5 If any rejected Products are found by the Independent Expert not to be Defective, the Purchaser shall pay for such Products in accordance with the payment provisions set forth in this Agreement.

  • DEFECTIVE GOODS 20.1 Notwithstanding any certificate and/or receipt that may have been issued by or on behalf of Transnet either in South Africa or overseas, Goods will be accepted at the place of delivery or at the port of shipment, as specified in this Agreement, only as regards outward condition of packages and Transnet retains the right to reject the Goods supplied, on or after arrival at the place to which they are consigned, or after they have been placed in use in South Africa, should they be found defective. 20.2 If Goods are rejected owing to latent defects becoming apparent during machining operations or other preparation necessary on the part of Transnet before they can be put into use, the Supplier shall bear all expenses incurred by Transnet in carrying out such necessary operations. 20.3 If such Goods are rejected, the Supplier will pay the following costs: a) for Goods purchased in South Africa on an ex works basis, the cost of transport from the Supplier’s works in South Africa to the named destination where the Goods have been rejected by Transnet, plus handling charges and storage, if leviable; or b) for Goods manufactured overseas, the Supplier shall pay all replacement costs including the overseas inland transport cost, freight and insurance charges incurred plus railage or other inland transport costs from the South African port to the place where the Goods have been rejected by Transnet, including handling charges, storage, landing charges, customs duty and surcharges, if leviable. 20.4 If Transnet requires rejected Goods to be replaced, the Supplier shall, when called upon to do so, arrange prompt replacement of the Goods within the prescribed manufacturing lead times for such Goods, as indicated in Schedule 1. 20.5 If Goods are found to be defective but the defects are, in the opinion of Transnet, not of so serious a nature as to warrant total rejection of the Goods, the Supplier shall, when called upon to do so, remedy or make good such defects at its own cost, or Transnet may remedy or make good such defects at the request of the Supplier and recover from the Supplier all costs or expenses reasonably incurred by it in doing so. 20.6 Should the Supplier fail, when called upon to remedy or make good such defects within a reasonable time or to request Transnet to do so, Transnet may proceed to remedy or make good such defects and thereafter recover from the Supplier all such costs and expenses as aforementioned. 20.7 Any amount recoverable from the Supplier in terms of this clause may, without prejudice to any other legal remedies available to Transnet, be deducted in whole or in part from any monies in the hands of Transnet which are due for payment to the Supplier.

  • Physical Inventory The Contractor shall periodically perform, record, and disclose physical inventory results. A final physical inventory shall be performed upon contract completion or termination. The Property Administrator may waive this final inventory requirement, depending on the circumstances (e.g., overall reliability of the Contractor’s system or the property is to be transferred to a follow-on contract).

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.