Purchaser Responsible for Returned Items Clause Samples
The 'Purchaser Responsible for Returned Items' clause assigns responsibility to the buyer for any items they return to the seller. In practice, this means the purchaser must handle the logistics and costs associated with returning goods, such as shipping fees or ensuring the items are properly packaged and sent back in acceptable condition. This clause clarifies who bears the risk and expense of returns, helping to prevent disputes and ensuring both parties understand their obligations in the event of a return.
Purchaser Responsible for Returned Items. The Purchaser agrees to pay promptly to the Seller an amount equal to the amount of any checks, drafts or withdrawal orders credited to a Transferred Account as of the Closing Date and reflected in the Settlement Statement, but which are returned to the Seller after the Closing Date.
Purchaser Responsible for Returned Items. Purchaser agrees, no later than the start of the second business day after demand by Seller, to pay to Seller an amount equiva- lent to the amount of any uncollected item included in a depositor's balance on the Effective Date which is returned within sixty (60) days after the Effective Date as not collected. Purchaser shall be required to make such payment for an item only up to the balance of any funds on deposit with the Purchaser and any balance available on a line of credit the customer has with the Purchaser at the time the Seller makes the demand as aforesaid; provided, however, if prior to the Effective Date the Seller had placed a "hold" or other similar protective measure on the depositor's account with respect to such item and subsequent to the Effective Date the Purchaser removes such hold or protective measure, then the Purchaser will be obligated to pay the Seller in full on account of such uncollected item. So long as any hold or other protective measure placed on the depositor's account with respect to such item complies with applicable law, the placing of any such hold or other protective measure shall not be deemed a breach of this Agreement.