Laserfiche WebLink
b. Consignment Program. OCAP shall purchase the current "hard part" stocking <br />product located in City locations at book value of the inventory adjusted for <br />obsolescence, shrinkage and other factors agreed upon between the parties and not <br />to exceed OCAP's cost basis. Said purchase shall result in a "store credit" rather <br />than a cash payment. OCAP shall replace such inventory with mutually agreed <br />upon quantities for the initial consigned Stocking Product assortment. The initial <br />stock may be later amended by the parties' mutual agreement. City shall <br />acknowledge the receipt and financial responsibility upon delivery of Stocking <br />Products. These Stocking Products shall be paid for by city upon usage following <br />normal established billing procedures. <br />c. With the exception of mutual consignment adjustments to the initial Stocking <br />Product Assortment, OCAP shall with each delivery, provide an invoice listing <br />parts delivered, City returns, and unit prices. Said invoices shall be listed on the <br />monthly statement. Stock returns/refunds will be handled through internal <br />debit/credit memos. <br />d. OCAP shall provide ProLink to City location at no charge, and shall provie..e <br />displays and assortment cabinets at no charge. OCAP shall also provide <br />manufacturer's training and out-sourced training for a mutually agreed upon fee. <br />CITY RESPONSIBILITIES <br />a. City shall designate OCAP its stocking vendor for all hard parts "Stocking Products", <br />and agrees that OCAP shall be City's first call for non-stocking, car down ("Hot Shot <br />Product") purchases. <br />b. City agrees to hold Stocking Products in a designated location, bearing all risk for <br />danger, loss, and local taxes. The Stocking Products shall be replenished on a weekly <br />basis or as often as necessary to maintain the inventory at initial stock level, as <br />adjusted by mutual agreement of the parties. Prices on individual products are subject <br />to change, as manufacturer prices change. A physical inventory with both parties <br />present shall be performed every quarter on the stock assortment of Stocking <br />Products, and any missing or damaged inventory shall be billed to City and shall <br />appear on a monthly statement. Overages will be credited to City. The inventory <br />process is attached hereto as Exhibit 2. <br />4. PAYMENT TERMS. Payment for Stocking Products and all other purchases will be <br />consolidated on a monthly statement and presented for payment within two days after the close of <br />the month and will be paid in full at net 25 ( 25 days after the close of the month ). In the event <br />any statement has not been paid as of such date, OCAP shall impose a finance charge of 1.5% per <br />month. <br />5. WARRANTY. All automotive parts supplied pursuant to this Agreement are subject to <br />the terms of written warranties provided by the manufacturer of each part, and OCAP shall use <br />reasonable commercial efforts to assist the City in processing all warranty claims that the City <br />may have against a manufacturer. The manufacturer's warranty will be the sole and exclusive <br />remedy of the City in connection with any claims concerning the parts supplied to the City <br />pursuant to this contract. ALL OTHER WARRANTIES, BOTH EXPRESS AND IMPLIED, <br />INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTIBILITY OR FITNESS FOR A <br />PARTICULAR PURPOSE, ARE HERBY EXCLUDED. Copies of the manufacturers' <br />25D-4