Inventory Management Check Form

INVENTORY MANAGEMENT CHECK FORM

Parties and Identifying Information

WHEREAS Recitals

WHEREAS, Client requires periodic or ad hoc physical inventory counts, reconciliation, and discrepancy reporting for the locations specified below, and desires to retain Service Provider to perform those services in accordance with the terms of this document; and

WHEREAS, Service Provider represents that it has the personnel, systems, and procedures necessary to perform inventory verification, count controls, and reporting in a commercially reasonable and industry-standard manner and agrees to conduct the inventory services under the terms set forth herein.

Effective Date: — this form documents the inventory check performed and the contractual terms applicable to the services described below.

Inventory Details and Count

Location of Count:

Instruction: For each inventory line, record SKU, description, recorded quantity, physically counted quantity, discrepancy and item condition.

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Scope of Work

Service Provider shall perform physical counts, verification against Client inventory records, tagging where required, reconciliation of discrepancies, and delivery of a written count report to Client. Specific tasks and deliverables are set forth below.

Payment Terms

Client will compensate Service Provider as follows. All amounts are exclusive of applicable taxes unless otherwise stated.

Term and Termination

Term Commencement Date:    Term Expiration Date:

Either party may terminate this engagement for cause upon written notice describing the breach and allowing the breaching party a cure period of days. Termination for convenience by Client requires days' prior written notice and payment for services performed through the effective termination date.

Confidentiality

Each party acknowledges that during performance it may receive Confidential Information of the other party. "Confidential Information" includes inventory records, pricing, supplier lists, stock locations, and other non-public business information. Receiving party shall: (a) hold Confidential Information in strict confidence, (b) use it solely to perform obligations under this form, and (c) not disclose it except to employees or contractors with a need to know who are bound by confidentiality obligations. The confidentiality obligations survive termination for a period of three (3) years except for trade secrets which remain protected for as long as they qualify as trade secrets under applicable law.

Governing Law

This form and all disputes arising out of or related to it shall be governed by the laws of the State of without regard to its conflict of laws principles.

Entire Agreement

This form, together with any attachments or purchase orders expressly incorporated herein, constitutes the entire agreement between Client and Service Provider with respect to the subject matter and supersedes all prior negotiations, representations, and agreements. Any amendment must be in writing and signed by authorized representatives of both parties.

Inspector Certification and Administrative Notes

I certify that the physical inventory count was performed on the date indicated in accordance with the agreed procedures and that the recorded quantities above reflect the physical count.

I certify that reconciliation between recorded and counted quantities was performed and all discrepancies were documented in the Summary of Discrepancies.

Follow-up required:

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