Common use of Consignment Stock Scheme Clause in Contracts

Consignment Stock Scheme. 5.1 The Sellers shall, at the request of and within the time required by the Buyer, deposit such quantities of Goods at the designated Hospital premises as consignment stock under the Consignment Stock Scheme for use by the Buyer on an “as and when required basis”. The Seller will be notified (without affecting or otherwise relieving the responsibilities of the Seller as set out in sub-clauses 5.3 and 5.5 of these T&Cs below) when the Goods are taken out from the consignment stock for use by the Buyer. 5.2 Title and risk of all Goods deposited and stored at the Hospital premises under the Consignment Stock Scheme shall remain with the Seller until the Goods are taken out from the consignment stock for use by the Buyer. Neither the Authority, nor any Hospital where consignment stock is stored, shall be liable for any loss of or damage to the Goods when they are deposited and stored at Hospital premises, whether or not due to any act or omission of the Authority, its staff or employees. 5.3 The Seller shall be solely responsible for carrying out all appropriate inspections and checking of the Goods which are deposited and stored at Hospital premises from time to time under the Consignment Stock Scheme, so as to assure that the Goods are in good condition and to be replaced if they are expired, and stock take the Goods for audit and replenishment purposes. 5.4 The Buyer’s sole responsibilities to the Seller in connection with the Goods deposited under the Consignment Stock Scheme shall be to: (a) permit the placement of the Goods at the Hospital premises; (b) take reasonable care to prevent tampering with, or theft of, the Goods; (c) store and handle the Goods in accordance with any instructions provided by the Seller as set out in Schedule C; and (d) provide reasonable assistance to the Seller to conduct stock taking and inspection at Hospital premises; Apart from the foregoing, the Buyer shall have no other responsibilities to the Seller whatsoever. 5.5 The Seller shall conduct regular checks on the stock under the Consignment Stock Scheme from time to time during the Validity Period and (a) top up the quantities of the Goods to the level as required by the Buyer; and (b) replace the Goods which have passed their expiry dates. 5.6 The Seller shall also be responsible to keep track of the products in the consignment stock in respect of: (a) traceability of the products (e.g. batch/lot number); (b) product expiry date, if applicable; (c) replacement of expired products; and (d) product alert/recall.

Consignment Stock Scheme. 5.1 The Sellers shall, at the request of and within the time required by the Buyer, deposit such quantities of Goods at the designated Hospital premises as consignment stock under the Consignment Stock Scheme for use by the Buyer on an “as and when required basis”. The Seller will be notified (without affecting or otherwise relieving the responsibilities of the Seller as set out in sub-clauses 5.3 and 5.5 of these T&Cs below) when the Goods are taken out from the consignment stock for use by the Buyer. 5.2 Title and risk of all Goods deposited and stored at the Hospital premises under the Consignment Stock Scheme shall remain with the Seller until the Goods are taken out from the consignment stock for use by the Buyer. Neither the Authority, nor any Hospital where consignment stock is stored, shall be liable for any loss of or damage to the Goods when they are deposited and stored at Hospital premises, whether or not due to any act or omission of the Authority, its staff or employees. 5.3 The Seller shall be solely responsible for carrying out all appropriate inspections and checking of the Goods which are deposited and stored at Hospital premises from time to time under the Consignment Stock Scheme, so as to assure that the Goods are in good condition and to be replaced if they are expired, and stock take the Goods for audit and replenishment purposes. 5.4 The Buyer’s sole responsibilities to the Seller in connection with the Goods deposited under the Consignment Stock Scheme shall be to: (a) permit the placement of the Goods at the Hospital premises; (b) take reasonable care to prevent tampering with, or theft of, the Goods; (c) store and handle the Goods in accordance with any instructions provided by the Seller as set out in Schedule CD; and (d) provide reasonable assistance to the Seller to conduct stock taking and inspection at Hospital premises; Apart from the foregoing, the Buyer shall have no other responsibilities to the Seller whatsoever. 5.5 The Seller shall conduct regular checks on the stock under the Consignment Stock Scheme from time to time during the Validity Period and (a) top up the quantities of the Goods to the level as required by the Buyer; and (b) replace the Goods which have passed their expiry dates. 5.6 The Seller shall also be responsible to keep track of the products in the consignment stock in respect of: (a) traceability of the products (e.g. batch/lot number); (b) product expiry date, if applicable; (c) replacement of expired products; and (d) product alert/recall. 5.7 On or before 14th day of each month the Seller shall submit to each Hospital a consumption report in respect of Goods consumed in the preceding month. The consumption report shall enable correct tracing of the Goods to the Buyer and shall include product description, brand and model, universal code, batch and serial number etc., where applicable. 5.8 The consumption reports provided by the Seller shall be in soft copies and in such format stipulated by the HA in Schedule E.