Common use of RECIPROCAL PREFERENCE Clause in Contracts

RECIPROCAL PREFERENCE. G.S. 143-59 establishes a reciprocal preference requirement to discourage other states from favoring their own resident Vendors by applying a percentage increase to the price of any bid from a North Carolina resident Vendor. The “Principal Place of Business” is defined as that principal place from which the trade or business of the Vendor is directed or managed.

RECIPROCAL PREFERENCE. G.S. §143-59 establishes a reciprocal preference requirement to discourage other states from favoring their own resident Vendors by applying a percentage increase increases to the price of any bid from by a North Carolina resident Vendor. The “Principal Place of Business” is defined as that the principal place from which the trade or business of the Vendor is directed or managed.