Returns Provisions Clause Samples
The Returns Provisions clause defines the terms and conditions under which goods or products can be returned by the buyer to the seller. Typically, this clause outlines the acceptable reasons for returns, such as defects or non-conformity, and specifies the required procedures, including timeframes for notification and the condition in which items must be returned. Its core practical function is to establish clear expectations and processes for handling returns, thereby reducing disputes and ensuring both parties understand their rights and obligations regarding returned goods.
Returns Provisions. (a) Products with newly issued part numbers and Products that are subject to a reliability campaign will be eligible for return after 24 months of part number change or campaign introduction if and only if (a) GE has determined Service Provider’s stocking level and DISTRIBUTION SERVICES AGREEMENT General Electric Company
(b) remaining stock exceeds 24 month’s usage. If parts meet these requirements, Service Provider may return all remaining inventory. No restocking charges will apply to such returns.
Returns Provisions. (a) No Products will be eligible for return if they are manufactured and/or procured by the Company for purchase by the Service Provider based solely upon Service Provider's marketing and sales data or are part of the <PAGE> DISTRIBUTION SERVICES AGREEMENT Rolls-Royce Corporation Page 13 initial inventory procurement except for those part numbers noted on Exhibit B.
(b) Newly issued part numbers and/or parts involved in a reliability campaign will be eligible for return after 24 months of part number or campaign introduction if and only if 1) Company has unilaterally determined Service Provider's stocking level and 2) remaining stock exceeds 24 month's usage. If parts meet these requirements, Service Provider may return all remaining inventory. No restocking charges will apply to such returns.
(c) Products rendered obsolete due to Company's redesign with a must conform classification will be eligible for return by the Service Provider.
(d) Product defined above as eligible for return must be in "new" condition in the original packaging as supplied by the Company; such packaging may not be damaged, broken or in any way tampered with except for ordinary wear incurred in shipping. The Company shall pay to Service Provider in U.S. Dollars an amount equal to the average inventory cost of the items returned under this section less restocking charges not to exceed ***% of list price.
(e) The Company has the right to market and sell any products the Service Provider returns in accordance with the above provisions. 8.
Returns Provisions. No Products will be eligible for return if they are manufactured and/or procured by the Company for purchase by the Distributor based solely upon Distributor's marketing and sales data or are part of the initial inventory procurement except for those part numbers noted on Exhibit B-1. Newly issued part numbers and/or parts involved in a reliability campaign may be eligible for return after 24 months of part number or campaign introduction if and only if Company has unilaterally determined Distributor's stocking level. Only quantities in excess of 24 months usage will be eligible for return. Products rendered obsolete due to Company's redesign with a must conform classification will be eligible for return by the Distributor. Product defined above as eligible for return must be in "new" condition in the original packaging as supplied by the Company; such packaging may not be damaged, broken or in any way tampered with except for ordinary wear incurred in shipping. The Company shall pay to Distributor in U.S. Dollars an amount equal to the average inventory cost of the items returned under this section less restocking charges not to exceed 5%.