Portable Item Example Clause Samples

Portable Item Example. The following example illustrates allocation of proceeds from a Portable Property Item sale. Assume an item of Property sells at auction for a $100 Winning Bid; the Buyer pays shipping and handling of $10, insurance of $2, and sales tax of $6. The Buyer pays the Sales Price of $118.00 ($100 + $10 + $2 + $6) by credit card, and the Credit Card Cost is 3% of the Sales Price or $3.54 (0.03 x $118) and the Affiliate Fee is 4.8% or $4.80 (0.048 x $100). The Owner and PRC each share 50% of the underlying Winning Bid, therefore Credit Card Costs and Affiliate Fees are also shared equally, $1.77 each ($3.54 ÷ 2) for Credit Cost and $2.40 each ($4.80 ÷ 2) for Affiliate Fees. The Owner’s Net Proceeds are $45.83 ($50.00 less $4.17). Note: less than 1 out of 10 transactions include Affiliate Fees.