PRIVATE LABEL TERMS AND CONDITIONS
In the spirit of partnership, we have outlined procedures to be followed to insure service levels and create mutually beneficial business growth.
- Time Frame: OPCO will provide you with time frames needed to effectively develop and produce your products, approvals needed and key mile stone sign offs.
- Lead Times: New item orders will receive a lead time in writing for production based on lead time from our suppliers. Lead times will be approximately 120 days from date artwork is approved/signed off and orders are placed.
- ISO (Initial Stocking Order): In order to create efficiencies and offer you our best pricing, Private Label volumes need to be established and committed to by you. OPCO requests a form of a non-cancellable ISO in order for us to be able to purchase components on your behalf.
- Quarterly Forecast: Prior to our beginning production OPCO will request a quarterly unit forecast from you. We will work collaboratively to update the forecasts quarterly and before each production run.
- Exit Strategy: OPCO will maintain up to a 90-day inventory level and will require a minimum of 90 days written notice of cancellation. In the event you decide to discontinue the item/items, you agree to take all inventory produced for the ISO and/or up to 90-days of your forecast.
- MOQ’s (Minimum Order Quantity): Private label orders will be governed by the requirements of our suppliers for minimum quantities and lead times.
- Packaging Sign off: All packaging/artwork will have final sign off by you prior to ordering of tooling/dies/or product to insure 100% agreement and satisfaction.
- Changes: If changes are made throughout the process that affects the cost, then adjustments to pricing up or down will be finalized with final sign off.
- Delays: Each party shall accept financial responsibility for delays in schedule caused by that party.