Common use of Debit balances Clause in Contracts

Debit balances. The Vendor agrees that when the Vendor is in a debit balance on Dealer’s accounts, then the Vendor will deduct the amount owed to Dealer from the Vendor’s next invoice to Dealer or, within 30 days of a request from Dealer, the Vendor will deliver a cheque to Dealer for the full amount of the debit balance. In no event will Dealer be obligated to take a credit against future purchases.

Debit balances. The Vendor agrees that when the Vendor is in a debit balance on Dealer’s accounts, then the Vendor will deduct the amount owed to Dealer from the Vendor’s next invoice to Dealer or, within 30 days of a request from Dealer, the Vendor will deliver a cheque to Dealer for the full amount of the debit balance. In no event will Dealer be obligated to take a credit against future purchases.