Finished Inventory definition
Examples of Finished Inventory in a sentence
REG Marketing will carry Property in Transit insurance for all Finished Inventory where there is a known third party buyer in shipment.
Notwithstanding any other provision in this Agreement, title to the Finished Inventory shall pass from Seller to Buyer, an Affiliate of Buyer or the applicable Third Party customer upon delivery of such Finished Inventory.
No quantities of Finished Inventory are held on a consignment basis.
Section 3.1.15 of the Seller Disclosure Schedules sets forth a complete and accurate list of the Finished Inventory as of September 28, 2016, including (a) the quantity of each item, listed by SKU, of Finished Inventory as of such date, (b) the remaining shelf life thereof as of such date, and (c) the cost of such Finished Inventory.
If while Finished Inventory where there is a known third party buyer is in transit a claim were to occur the proceeds from settlement would be due the title holder at the time of the loss event.