Price Decrease Protection Clause Samples
The Price Decrease Protection clause ensures that if the seller lowers the price of a product or service after a contract is signed but before delivery or payment, the buyer is entitled to benefit from the reduced price. In practice, this means that if the market price drops or the seller offers discounts to other customers during the contract period, the buyer will pay the lower price rather than the original, higher agreed amount. This clause protects buyers from overpaying due to market fluctuations and ensures they receive the most favorable pricing available during the contract term.
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Price Decrease Protection. In the event OMP decreases the Price of any Product, Distributor may apply for a credit equal to the difference between the net Price paid by Distributor, less any prior credits granted by OMP, and the new decreased Price for the Product multiplied by the quantity of such Products in Distributor’s inventory (including those delivered by OMP to the Distributor’s specified freight forwarding agent) on the effective date of the Price reduction. Price protection applies only to Products in Distributor’s inventory the three (3) months preceding the effective date of the Price reduction, including Products in transit to Distributor on the effective date of the Price decrease. Issuance of the Price protection credit by OMP is contingent upon Distributor’s submission to OMP, not later than thirty (30) days after the effective date of such Price decrease, of an inventory report which indicates the quantity of such Product in stock or in transit on the effective date of the Price decrease. Upon verification of the inventory report by OMP, said credit will be applied to Distributor’s account.
Price Decrease Protection. In the event ZO SKIN HEALTH decreases the price of any Products or Related Products, Distributor may apply for a credit for Products or Related Products purchased by Distributor within sixty (60) days of the announced price decrease (the “Qualifying Product”). The credit shall be given in product and shall be equal to the difference between the price paid by Distributor for the Qualifying Product, (less any prior credits granted by ZO SKIN HEALTH) and the announced decreased price for the Products or Related Products. Issuance of the price protection credit by ZO SKIN HEALTH is contingent upon Distributor’s submission to ZO SKIN HEALTH, not later than thirty (30) days after the effective date of such price decrease, of an accurate report of the Qualifying Product. Upon verification of the inventory report by ZO SKIN HEALTH, a credit in product will be given to Distributor no later than sixty (60) days after receipt by ZO SKJN HEALTH of such report.