Minimum Stock Levels Sample Clauses

Minimum Stock Levels. The Contractor shall, throughout the Service Period, maintain stock levels as stated below, in the Bulk Store, Sub-stores and the Pharmacy of KJO Hospital or in his additional stores which will be operated by the Contractor and monitored by KJO Hospital representatives, until ninety (90) days prior to the expiry date of the Service Period. During the above ninety (90) days period, the Contractor is not required to accumulate his stock Materials to the minimum stock levels requirement unless the Company's instructs otherwise in writing. Provided, that the Contractor shall in no event be relieved of its obligation to continuously supply the required Materials to the Company throughout the duration of the Contract. In the event that the Contractor is requested to procure any Material not listed in SCHEDULE C, the Contractor shall submit his proposal for such additional Materials as required for Company’s approval within one calendar month of the request, and on approval of the same, the requested material shall be supplied/available within one calendar month of the said approval, and the stocks shall be maintained throughout the remaining period of the Contract accordingly. The Contractor shall be in breach of the Contract, should he fail to comply with this clause and same will be construed as failure to maintain the sufficient stock level, as defined below. The minimum stock level requirements are as follows: For locally sourced items- Contractor shall maintain stock levels sufficient for sixty (60) days consumption based on tracking reports and forecasts. For imported items- Contractor shall maintain stock levels sufficient for one hundred twenty (120) days consumption based on tracking reports and forecasts. The Company has the right to request the Contractor to adjust the minimum stock level as per hospital requirement and forecast without any obligation to the Company. In such case, the Contractor shall adjust the minimum stock level within fourteen (14) days from the date of receipt of Company's request for locally sourced items and within twenty eight (28) days from the date of receipt of Company's request for Import items respectively.
Sample 1
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