Assets and Services Sample Clauses

Assets and Services. 9.1 The Partner will keep all assets funded by this SLA in good repair and will make sure they have adequate insurance cover for all of them. Any loss resulting from payments made for assets before delivery will be The Partner’s responsibility. If the asset is damaged, destroyed, or stolen, The Partner must inform WVSC in writing and must repair or replace it. 9.2 During the funding monitoring period The Partner will provide an annual statement that assets are still held and insured by The Partner. The Partner will not sell, give away, or borrow against assets without first receiving WVSC’s written consent. 9.3 Any assets purchased utilising funding provided by WVSC will remain the property of the project and WVSC reserves the right to take ownership of these assets at any time. 9.4 If any part of the grant is used to purchase capital items or services, or a series of services costing more than £10,000 The Partner will put this out to competitive tender. The exception to this will be if the application to deliver project services specifies Partnership arrangements and that these are agreed with WVSC. If there are any other reasons why The Partner cannot tender The Partner will obtain WVSC’s written agreement in advance. The Partner will ensure all purchases are procured in line with the Public Procurement Policies.