Inventory Protection Clause Samples

The Inventory Protection clause is designed to safeguard a party’s inventory from certain risks or losses during the course of a business relationship. Typically, this clause outlines the responsibilities of each party regarding the storage, handling, and potential loss or damage of inventory, and may specify compensation or replacement procedures if inventory is compromised. By clearly allocating responsibility and outlining remedies, the clause helps prevent disputes and ensures that both parties understand their obligations, thereby protecting the value of inventory and minimizing financial risk.
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Inventory Protection. Buyer may return up to ***percent (***%) of its inventory of non-custom Items purchased from Supplier during the previous ninety (90) days in unopened, original, individual Item packaging for a credit against any outstanding or future Supplier invoices.
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Inventory Protection. Processor shall furnish to DA a surety bond obtained only from a surety company listed in the Department of Treasury Circular 570, "Surety Companies Acceptable on Federal Bonds," an irrevocable letter of credit, or an escrow account. Such bond, letter of credit, or escrow account shall be made payable to the DA. The bond shall guarantee that the processor shall faithfully account for, return, or pay for all of the DF received or carried forward, in accordance with this Agreement. Inventory protection is required by the DA prior to the delivery of DF to the processor. The minimum amount of the bond, letter of credit or escrow account, shall be determined by: value of the DF on hand and on order minus anticipated usage rate during the Agreement period. The bond shall remain in effect until all donated food is properly accounted for, paid for or returned in accorance with this Agreement. Liability for loss is provided in Article 18 of this Agreement.
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Inventory Protection. The distributing agency must obtain insurance to protect the value of donated foods at its storage facilities. The amount of such insurance must be at least equal to the average monthly value of donated food inventories at such facilities in the previous fiscal year. The distributing agency must also ensure that the following entities obtain insurance to protect the value of their donated food inventories, in the same amount required of the distributing agency in this paragraph (d): (1) Subdistributing agencies;
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Inventory Protection. The distributing agency must obtain insurance to protect the value of donated foods at its storage facilities. The amount of such insurance must be at least equal to the average monthly value of donated food inventories at such facilities in the previous fiscal year. The distributing agency must also ensure that the following entities obtain insurance to protect the value of their donated food inventories, in the same amount required of the distributing agency in this paragraph (d): (1) Subdistributing agencies; (2) Recipient agencies in household programs that have an agreement with the distributing agency or subdistributing agency to store and distribute foods (except those recipient agencies which maintain inventories with a value of donated foods that do not exceed a defined threshold, as determined in FNS policy); and (3) Commercial storage facilities under contract with the distributing agency or with an agency identified in paragraph (d)(1) or (2) of this section.
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Inventory Protection. Should Buyer elect to maintain inventory in the future and in the event Seller puts into effect a general price decrease for any standard Product, Seller will so notify Buyer and will grant a corresponding retroactive price decrease on any such unmodified, standard Seller's Product in Buyer's inventory (or in the process of being shipped to Buyer), which had been shipped to Buyer by Seller within ninety (90) days of the effective date of the price decrease. Seller will grant such decrease by crediting Buyer's account with an amount equal to the number of such Product times the difference between the price each unit of Product was sold to Buyer for, less any prior credits granted by Seller, and the new price of each such Product. To obtain such retroactive price decrease Buyer must submit to Seller, within 30 days of the effective date of the price decrease, an inventory report itemizing all such Product received from Seller within the subject 90-day period. Upon verification by Seller of the inventory report, Buyer's account will be credited by Seller.
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Related to Inventory Protection

  • PICKET LINE PROTECTION 1. All employees covered under this agreement shall have the right to refuse to cross or work behind a duly constituted picket line. Any employees failing to report for duty for this reason shall be considered to be absent without pay. 2. Failure to cross a picket line encountered in carrying out school board business shall not be considered a violation of this agreement nor shall it be grounds for disciplinary action by the Board. 3. The Board shall not request, require, nor direct any employee covered under this agreement to do work or carry out duties normally performed by employees engaged in a strike, or lock out, nor shall teachers request, require, or direct pupils to carry out such duties. 4. Teachers shall not be required to work with persons who attempt to perform any of the duties which would normally be performed by employees on strike or locked out.

  • 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.

  • System Protection Facilities Developer shall, at its expense, install, operate and maintain System Protection Facilities as a part of the Large Generating Facility or Developer’s Attachment Facilities. Connecting Transmission Owner shall install at Developer’s expense any System Protection Facilities that may be required on the Connecting Transmission Owner’s Attachment Facilities or the New York State Transmission System as a result of the interconnection of the Large Generating Facility and Developer’s Attachment Facilities.

  • Eye Protection Where an employee is required by the College or by legislation, in order to perform his/her duties, to acquire and wear prescription eye protection, the employee shall provide the College with proof of purchase by March 1 each year and the College shall reimburse to such employee, on the first pay day of April in each year, up to a maximum of twenty dollars ($20.00); in situations other than the foregoing, the College, may in its discretion, (which discretion shall not be unreasonably exercised) reimburse such expense where it is recommended by the health and safety committee constituted under the Occupational Health and Safety Act.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.