Failure to Timely Report. Despite having information reasonably supporting the conclusion that the Subject Products contained a defect which could create a substantial product hazard or created an unreasonable risk of serious injury or death, Bestar did not notify the Commission immediately of such defect or risk, as required by Sections 15(b)(3) and (4) of the CPSA, 15 U.S.C. § 2064(b)(3) and (4), in violation of Section 19(a)(4) of the CPSA, 15 U.S.C. § 2068(a)(4).
Failure to Timely Report. Grantor shall mail Recipient a warning letter if no report is received eight days after the anniversary of the Benefit Date. Recipients shall file the recipient report within 14 days of the postmarked date of the warning letter. If a report is not received from Recipient within 14 days of such date, Recipient agrees to pay Grantor one hundred dollars ($100) for each subsequent day until the report is filed. The maximum penalty under this section may not exceed one thousand dollars. Failure to submit a timely report is considered a material breach this Business Incentive Agreement that allows the Grantor, in its sole discretion, to declare this Agreement in default and entitle Grantor to equitable relief, including, but not limited to, recovering all of Grantor’s funds expended on this Agreement and any attorney, court, and consultant costs and fees necessary to enforce its rights under this Agreement.
