Finished Goods Inventory definition
Examples of Finished Goods Inventory in a sentence
Supplier shall monitor and report its work-in-process and Inventory Liability Items count to Tesla for all Finished Goods Inventory.
Tesla will not be liable for Finished Goods Inventory other than as described in this Section 16.
If Tesla has not taken delivery of any unit of a Inventory Liability Items in Finished Goods Inventory within twelve (12) months from the date of Tesla’s last receipt of any such unit, Supplier may then submit a claim for reimbursement for such Items (“Excess Items”) to Tesla within thirty (30) days from the end of such twelve (12) month period.
Supplier is responsible for disassembling Inventory Liability Items in Finished Goods Inventory down to a usable level and otherwise making all efforts to mitigate the cost to Tesla in any such claim.
An Inventory Liability Items in Finished Goods Inventory will be considered an “Obsolete Item” when Tesla provides notice to Supplier that such Inventory Liability Item is an “Obsolete Item.” If Supplier desires to submit a claim for costs associated with Obsolete Items, then Supplier shall submit a claim for such Obsolete Items within thirty (30) days from the date on which Tesla notifies Supplier that the Inventory Liability Items are Obsolete Items.