Slow Moving Inventory Sample Clauses
The Slow Moving Inventory clause defines how inventory that is not selling or turning over at an expected rate is identified and managed within a business relationship. Typically, this clause sets criteria for what qualifies as slow moving—such as items not sold within a certain timeframe—and outlines the steps to be taken, which may include returning the goods to the supplier, discounting prices, or other agreed-upon actions. Its core function is to minimize financial losses and storage costs associated with unsold stock, ensuring both parties have a clear process for handling inventory that is not performing as anticipated.
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Slow Moving Inventory. On the Closing Date, Seller shall consign to Buyer all Slow Moving Inventory. The Slow Moving Inventory shall remain at CD Mexico until Buyer instructs Seller to ship it into the United States. Buyer will pay the cost of shipping and insurance during shipping, but Seller shall be responsible for the exportation of the Slow Moving Inventory. Buyer will be responsible for all sales, value added, use or transfer taxes, tariffs or duties imposed by any governmental entity from either Mexico or the United States arising out of, or incurred in connection with the purchase and sale of the Slow Moving Inventory or the transportation or exportation of the Slow Moving Inventory. Upon Buyer's receipt of the Slow Moving Inventory in the United States, Buyer shall name Seller as an additional insured with respect to such Slow Moving Inventory on Buyer's insurance and provide Seller a certificate of insurance. For a period of eighteen (18) months after the Closing Date, Buyer agrees to pay Seller, according to the formula set forth below, within thirty (30) days after each quarter for each item of Slow Moving Inventory sold by Buyer to its customers or used by Buyer during such quarter. Buyer will pay Seller for all finished Slow Moving Inventory an amount equal to eighty percent (80%) of the price received from Buyer's customers or Seller's Standard Cost, whichever is less. Within thirty (30) days after each quarter, Buyer will pay Seller for all materials, parts and sub-assemblies which are Slow Moving Inventory and which are used by Buyer an amount equal to the Standard Cost. At the end of the eighteen (18) months after the Closing Date all Slow Moving Inventory which has not been sold or used by Buyer shall be owned by Buyer without charge or cost. Buyer may use the samples and shall not pay for any samples unless it sells them. Buyer will provide Seller quarterly status reports on Slow Moving Inventory. Buyer agrees to act in good-faith with respect to the timing or the sale or use of the Slow Moving Inventory, taking into account market and customer requirements.
Slow Moving Inventory. Slow Moving Inventory shall be treated as follows: First Week of Each Month During Term of Agreement BLD and TCBY shall review Slow-Moving Inventory during the first week of every month during the term of the Agreement Notification BLD will notify TCBY of Slow Moving Inventory ("Notification").
Slow Moving Inventory. Any product sold by BLD to TCBY and its Franchisees that falls below 70% month -to-date or year-to-date issues to receipts ration. The issues to receipts ratio is defined as Product sold divided by Product purchased by BLD.
Slow Moving Inventory. The MSP must provide a bi-annual slow moving inventory report to each Agency in accordance with the timeframes required by each Agency.