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Document Preview Inventory Management Agreement |
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Title: |
Inventory Management Agreement |
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Entities: |
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Date: |
2000 |
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Size: |
Preview shows 5KB of 29KB total |
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Price: |
$45 |
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ID: |
#1112308 |
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FGI Print Management/Distribution and Fulfillment Division
INVENTORY MANAGEMENT AGREEMENT
THIS INVENTORY MANAGEMENT AGREEMENT is made and entered into by and between
FGI Print Management Inc., an Illinois Corporation ("FGI"), and MYTURN.COM, INC.
("MUTURN.COM").
RECITALS
A. FGI is in the business of inventory management, specializing in
providing warehousing, retail and consumer order fulfillment, order and returns
processing, and specialty retail distribution services.
B. MYTURN.COM is engaged in, among other things, the creation, production
marketing and a sale of a computer hardware product, a PC/Keyboard (The
"Product"). MYTURN.COM is headquartered in, and conducts its business activities
primarily from 1080 Marina Village Parkway, suite 300, Alameda, California,
94501
C. MYTURN.COM wishes to retain FGI to perform certain services referred to
herein, and FGI wishes to provide such services to MYTURN.COM, in accordance
with the terms and conditions set forth in this Agreement.
AGREEMENT
NOW, THEREFORE, based upon the premises recited above and on the mutual
promises and covenants set forth below, and for other good and valuable
consideration, the receipt and sufficiency of which each party acknowledges, the
parties do hereby agree as follows:
1. Specified Services.
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MYTURN.COM hereby retains FGI to perform, and FGI hereby agrees to
render to MYTURN.COM, when and as requested by MYTURN.COM, the following
services: product warehousing, fulfillment, order processing, inventory
management, and returns processing in North America and U.S. territories.
2. Costs.
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a) Costs: In consideration for FGI Services, MYTURN.COM shall pay FGI
the rates and charges set forth in SCHEDULE A hereto, which by this
reference is incorporated herein.
b) Terms: FGI's charges to MYTURN.COM shall be due and payable net
thirty (30) days after the date upon which MYTURN.COM receives FGI's
invoice.
c) Late Payment Fee: A service charge of 1.5% per month shall accrue
as a late payment fee on any balance remaining unpaid after the due date
specified in paragraph (b), above unless a reasonable dispute over the
invoice exists between the parties.
3. Agreement Terms and Conditions:
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a) Agreement Term: This Agreement shall commence as of the date of its
execution and will terminate one year thereafter, unless otherwise extended
by the mutual consent of both parties.
b) Termination: Either party shall have the right to terminate this
Agreement without cause at any time upon ninety (90) days written notice to
the other party.
c) Termination by Material Breach: Either party shall have the right
to terminate this Agreement 30 days after providing written notice to the
other party in the event of any material breach of any term or condition of
this Agreement by the other party, unless such breach has been remedied
within thirty (30) days after the date on which that notice is deemed
received.
d) Other Events: Either party shall have the right to terminate this
Agreement immediately upon written notice to the other party, in the event
the other party shall be adjudicated a bankrupt, institute voluntary
proceeding for bankruptcy or reorganization, make an assignment for the
benefit of its creditors, apply for or consent to the appointment of a
receiver for it or its property, or admit in writing its inability to pay
its debts as they become due.
e) Termination Protocol: FGI shall return to MYTURN.COM by common
carrier at MYTURN.COM'S expense any Products remaining in FGI's possession
following termination of this Agreement unless the parties mutually agree
in writing to other procedures.
f) Exclusive Right: During the term of this Agreement, FGI shall have
the exclusive right to perform the services defined in the Agreement of
shipments which have a destination within the United States.
4. Receipt and Inspection.
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a) Inspection Upon Delivery: Upon delivery of Products from MYTURN.COM
or its agents, FGI shall:
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