Consignment Store definition
Examples of Consignment Store in a sentence
If within 12 months of receiving the Product into the Internal Consignment Store Siemens finds that a magnet wound with Products supplied by the Supplier does not meet expected performance requirements, the parties will apply the process contained in Schedule 8.
The Supplier shall ensure that all its employees, agents and representatives stay within the paths, foot-prints and other markings made by Siemens delineating the passage to and from the Internal Consignment Store and that such parties observe all health and safety laws and regulations and warning notices on the Site, including but not limited to warning notices in relation to magnetic fields and “ESD” zones.
Siemens may elect for a third party agent to operate an External Consignment Store at a place outside the Site (and for avoidance of doubt, the provisions of Clause 6.2 shall only apply to the Internal Consignment Store).
All other deliveries by the Supplier shall be offloaded from delivery transport and placed in the Internal Consignment Store and shall be in accordance with DDP Siemens Magnet Technology, Eynsham (INCOTERMS 2000).
The Supplier shall be responsible for putting in place and maintaining insurances against all appropriate risks for the external Consignment Store and the Supplier shall produce to Siemens certified copies of such certificates of insurance within seven (7) days of written request from Siemens.
Risk in the Product shall re-pass to Siemens only after it has been returned to the Internal Consignment Store and subsequently removed from the Internal Consignment Store following its return to Site (in accordance with Clause 6.5).
The Target Company holds 99% equity interests of Beijing Xinbang directly and 1% equity interests of Beijing Xinbang through Beijing Xinbang Consignment Store, its wholly-owned subsidiary.
At this time any excess inventory held in the Consignment Store will be returned.