INVENTORY DISCREPANCIES Clause Samples
The Inventory Discrepancies clause defines how differences between recorded and actual inventory levels are identified and managed. Typically, this clause outlines procedures for conducting inventory counts, reporting discrepancies, and resolving any mismatches, such as through adjustments, investigations, or financial reconciliation. Its core function is to ensure accuracy in inventory records, minimize losses, and clarify the responsibilities of each party in addressing inventory errors or shortages.
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INVENTORY DISCREPANCIES. In the event any discrepancies occur on any information provided to the guest by Gateway Reservations from the inventory supplied by Supplier; Supplier shall be responsible for any credits, claim or damages incurred by any guest receiving such inaccurate information.
INVENTORY DISCREPANCIES. In connection with Customer’s use of the System, DealerTrack or the applicable Department may provide Inventory to Customer. Customer hereby acknowledges that it is responsible for the safety and storage of any and all such Inventory. Customer agrees to immediately report to DealerTrack any Inventory discrepancies, including but not limited to, missing, lost, or stolen Inventory (“collectively, “Inventory Discrepancies”). In some states, there may be significant fines and/or penalties associated with Inventory Discrepancies. Customer is solely responsible for payment of all fines and penalties, whether billed directly by the Department to Customer or billed to DealerTrack. Customer further agrees to cooperate with DealerTrack and the Department in their investigations of any Inventory Discrepancies, including but not limited to filing a police report as may be required by the state. Customer agrees to maintain a copy of any such police report and to submit a copy to DealerTrack at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: Inside Sales.