Essay About Requirements Of Buyer And Buyers Instructions

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Seller agrees: (a) to properly pack, mark and ship goods in accordance with the requirements of Buyer, the involved carriers, and, if applicable, the country of destination; (b) to route shipments in accordance with Buyers instructions; (c) to make no charge for handling, packaging, storage or transportation of goods, unless otherwise stated as an item on this Ccontract; (d) to provide with each shipment packing slips with Buyers contract and/or release number and date of shipment marked thereon; (e) to properly mark each package with a label/tag according to Buyers instructions; (f) to promptly forward the original bill of lading or other shipping receipt for each shipment in accordance with Buyers instructions. Seller will include on bills of lading or other shipping receipts correct classification identification of the goods shipped in accordance with Buyers instructions and the carriers requirements. The marks on each package and identification of the goods on packing slips, bills of lading and invoices (when required) shall be sufficient to enable Buyer to easily identify the goods purchased. Seller further agrees: (a) to accept payment based upon Buyers Evaluated Receipt Record/Self Billed Invoice, unless an invoice is requested by Buyer; and (b) to accept payment by electronic funds transfer. The payment date is set forth elsewhere in the Line Item Detail of this Ccontract, or if not stated, shall be 47/weeklythe date established by Buyers Multilateral Netting System (MNS-2), which provides, on average, that payment shall be made on average in 47 days, with weekly disbursements, followingthe second day of the second month following, in the case of the Buyers North American facilities, Sellers shipment date of goods or date of services, and, for all of Buyers other locations, Buyers receipt date of the goods at Buyers plant or, if directed by Buyer, receipt of a valid invoice date of services. Buyer may withhold payment pending receipt of evidence, in such form and detail as Buyer may direct, of the absence of any liens, encumbrances and claims on the goods or services under this Ccontract. Seller grants to Buyer access to all pertinent information, including, but not limited to, books, records, payroll data, receipts, correspondence and other documents for the purpose of auditing Sellers charges under this Contract. Seller will preserve these documents for a period of 1 year after the final payment under this Contract. In addition, all work, materials, inventories and other items provided under this Contract must be accessible to Buyer, including, but not limited to, parts, tools, fixtures, gages and models. Seller will segregate its records and otherwise cooperate with Buyer so as to facilitate the audit.