Inventory audit definition

Inventory audit means an examination of food invoices or other evidence of purchases to determine whether a vendor has purchased sufficient quantities of WIC food items to provide participants the quantities specified on WIC food instruments redeemed by the vendor during a given period of time.

Inventory audit means an audit of the physical properties and volumes, using standard practices and standard tank-gauging wire-line devices or another method acceptable to the Administrative Agent, of all or a portion, as determined by the Administrative Agent from time to time, of the Borrower’s Inventory, conducted by an independent consulting firm selected by the Administrative Agent.

Inventory audit means an examination of food invoices or other proofs of purchase to determine if a vendor has purchased sufficient quantities of authorized supplemental food to provide to participants the quantities specified on food instruments redeemed by the vendor during a given period of time.

Examples of Inventory audit in a sentence

• Inventory audit means the examination of food invoices or other proofs of purchase to determine whether a vendor has purchased sufficient quantities of WIC food items to provide participants the quantities specified on WIC benefits that have been redeemed by the vendor during a given period of time.

• Inventory audit shall be done annually, for physical inspection of division stores to check for the inventory position.

• Purchaser shall be solely responsible for all of the costs and expenses of the Inventory audit taken at the Location and shall indemnify, defend and hold harmless Seller and its affiliates from and against all such costs and expenses.

• DEFINITIONS: Inventory audit means the examination of food invoices or other proofs of purchase to determine whether a Vendor has purchased sufficient quantities of supplemental foods from authorized sources to provide participants the quantities specified on WIC benefits redeemed by the Vendor during a given period of time.

• Inventory audit means the examination of food invoices or other proofs of purchase to determine whether a Vendor has purchased sufficient quantities of supplemental foods from authorized sources to provide participants the quantities specified on WIC benefits redeemed by the Vendor during a given period of time.

More Definitions of Inventory audit

Inventory audit means the examination of invoices or other proofs of purchase to determine whether a vendor has purchased sufficient quantities of approved foods compared to valid claims for payment.

Inventory audit shall have the meaning set forth in Section 2.10(a)(i).

Inventory audit means an examination of food invoices or other proof of purchase to determine if a vendor has purchased sufficient quantities of authorized supplemental food to provide to participants the quantities of food items redeemed by the vendor during a given period of time.

Inventory audit has the meaning set forth in Section 2.2(c)(i).

Inventory audit shall have the meaning set forth in Section 2.02.

Inventory audit has the meaning ascribed thereto in Section 5(B).

Inventory audit means an audit conducted over a specific period of time in order to determine whether a vendor’s claimed reimbursement for the sale of an amount of a specific food item exceeds the vendor's documented inventory of that item.