Common use of Sourced Products Clause in Contracts

Sourced Products. In the event that any of the Products to be supplied under the Contract are Sourced Products, the Customer shall be required to complete a Nominated and Sourced Product Form and the following additional provisions will apply: 14.1. The Company shall agree with the suppliers of Sourced Products all matters concerning Sourced Products, including the specification, which shall be based on the requirements of the Customer. The Customer shall be responsible for forecasting its requirements for any new Sourced Products for the first 6 weeks. 14.2. The Company shall purchase Sourced Products from suppliers at the cost price agreed between it and the supplier of the Sourced Products. The Company shall agree the selling price of the Sourced Products with the Customer and shall notify the Customer of any cost price increases imposed on it by the supplier of the Sourced Products, which shall result in an increase in the selling price to the Customer. 14.3. The Company shall not be responsible for any costs resulting from shelf life expiry, waste, discontinuance of stock or unordered stock of the Sourced Products. In any of these events, the Company may charge the Customer the full selling price of such Sourced Products in addition to any disposal or return costs.

Appears in 2 contracts

Sources: Terms and Conditions of Sale, Terms and Conditions of Sale