Joint Inventory. On or before the Closing Date, the Purchaser and the Company shall jointly: (i) determine the Inventory items as of the Closing Date that are slow moving, obsolete or of below standard quality, which shall be set forth on Schedule 1.10(a) (collectively, the “Non-Conforming Inventory Items”); and (ii) determine the physical quantities of Inventory items as of the Closing Date, each of which determinations shall be final and binding on the parties (collectively, the “Joint Inventory Determinations”).
Joint Inventory. The turnover/transfer of all USACE property, equipment, supplies, and material shall be accomplished through a joint inventory with both USACE and GIRoA property within five (5) days of transition to separate all GIRoA items that will remain on site as well as the on-hand 30-day bench stock with notification agreement for any remaining items on order. All documents to be used in the joint inspection shall be made available one-week prior to physical inspection in order to provide translated copies to the GIRoA personnel. This consolidated effort shall consider the Contractor’s transfer and phase-out requirements, the GIRoA's Phase-In Plan, and the needs of the USACE. A joint inventory of USACE property will be conducted for all account holders. The joint inventory shall utilize computer listings of property for each account holder and shall coincide with the Phase-In Schedule of the GIRoA. Upon approval, bench stock inventory will be compared to on site inventory in preparation of a joint final walk- through and inventory with USACE (or designated representative), GIROA FE (or designated representative) and Contractor representative. The onsite inventory will be delineated into ‘Contractor owned, to be removed’ and ‘GIROA to receive’, by identifying contents of every container, space, and equipment, i.e. spot generator, fuel tank, etc. Contractor property will be highlighted in BLUE, and GIROA property will be highlighted in GREEN. All containers will be specified using serial identification (as available) by Contractor for removal or to stay on site for GIROA benefit. Upon review of on-site inventory that is beyond the bench stock inventory, the contractor will be notified of the disposition of the excess inventory. For those items purchased for bench stock or identified to be left for GIRoA use, the Contractor shall invoice USACE for any Contractor acquired materials, property or equipment that have not yet been invoiced and paid for as part of the monthly scheduled O&M costs. PMI materials, as they are included in the monthly O&M costs, are deemed Government-Furnished Property.
Joint Inventory. A joint inventory of Government property shall be conducted by the Contractor and COR/ACOR annually and on completion or termination of the contract. Upon completion (including any extensions of contract term) or termination of the contract, for any reason, and except for fair wear and tear, the Contractor shall return all Government property in the same condition as received.
