Common use of Restocking Policy Clause in Contracts

Restocking Policy. Supplier shall not impose a restocking fee on Member under the following circumstances: • Item is returned due to damage, incorrect product shipped, or Supplier customer service order entry error. • Inventory is returned within 24 hours of delivery. • Inventory is returned but exchanged for other inventory. Re-stocking fees for all other reasons can be no greater than 10% of the value of the items needing re-stocking.

Restocking Policy. Supplier shall not impose a restocking fee on Member member under the following circumstances, unless the circumstance was created by the action or inaction of the member or its agents: • Item is returned due to damage, incorrect product shipped, or Supplier customer service order entry error. • Inventory is returned within 24 hours of delivery. • Inventory is returned returned, but exchanged for other inventory. Re-stocking fees for all other reasons can be no greater than 10% of the value of the items needing re-stocking.