Consigned Materials definition
Examples of Consigned Materials in a sentence
In instances where Buyer sends Product to Supplier for Repair, and/or provides to Supplier tooling and/or other items, Buyer may, but is not obligated to, entrust such Products, tooling, and/or other items to Supplier as Consigned Materials.
Consigned Materials which Supplier is unable to Repair will be returned to Buyer with a packing slip which additionally references a return authorization number, obtained from Buyer, and provide a reason why Supplier is unable to Repair such Consigned Materials.
Supplier will reimburse Buyer for Consigned Materials that are not returned to Buyer in accordance with the terms of this SOW, including, without limitation, any Consigned Materials that have been stripped, stolen, lost, damaged, or unaccounted for.
Flextronics will bear responsibility for any damage or loss of Consigned Materials related to nonproduction causes while they are on the premises of Flextronics.
All Consigned Equipment, Consigned Materials or other materials which Mobileye furnishes either directly or indirectly to SUPPLIER, or which Mobileye buys from, or gives reimbursement to, SUPPLIER in whole or in part (collectively, “Mobileye Property”) will be and remain the property of Mobileye.
Mobileye shall maintain the required inventory levels agreed upon by the Parties for all Consigned Materials to enable SUPPLIER to schedule production efficiently.
Unless otherwise mutually agreed to by the parties in the applicable Statement of Work, Customer will hold title to the Goods and any Consigned Materials (as defined in Section 6 below) at all times.
Flextronics is authorized to purchase all Materials other than Consigned Materials needed to complete the Services, including without limitation any repairs of Goods and/or component level repair of certified repair parts.
Customer will insure the full value of the Goods and any Consigned Materials against all risks while they are under Flextronics’ care, control and custody.
All delivery costs or charges and insurance costs, if any, on the Consigned Materials, up to the time of actual receipt by SUPPLIER at the warehouse address in Hong Kong shall be for the sole account of Mobileye.