Common use of Inventory Responsibility Clause in Contracts

Inventory Responsibility. BUYER is responsible for knowing the locations of its own Assets. While SUPPLIER may provide yard inventories or similar, these are not to be relied upon in lieu of BUYER’s own record keeping. These yard lists are not intended to replace XXXXX’s in-house equipment tracking, and SUPPLIER will not be responsible if additional per diem Reservation Fees accrue due to the continued presence of BUYER’s Assets at the Premises whether or not due to any omission by SUPPLIER’s personnel, from any list, of any of BUYER’s Assets.