Retrospective Discount Sample Clauses

Retrospective Discount. For any of the thirty-eight (38) highest spend Non-Market Basket items, which include nineteen (19) General Industrial, six (6) Lighting and Electrical Supplies, ten (10) Plumbing Supplies, and three (3) safety Supplies items, the Vendor agrees to apply a retrospective discount of 33% off the Grainger Contract Reference Price (CRP). The Vendor will pay the State the difference between the price paid, minus returns, credits and expedited freight, and the price the State would have paid had the thirty-three percent (33%) retrospective discount off Grainger Contract Reference Price been applied at the time of purchase. In instances where the price paid at time of purchase is less than the retrospective discount price, the price paid for that item will be considered the retrospective discount price of the Non-Market Basket item identified on an annual basis. Retrospective discounts will be applied to identified Non-Market Basket items by the Vendor within forty-five (45) days following the end of the calendar year.

Retrospective Discount. For any of the forty-five (45) highest spend Non-Market Basket items, which include seven (7) Commercial Cleaning and Janitorial Products, nineteen (19) General Industrial, six (6) Light and Electrical Supplies, ten (10) Plumbing Supplies, and three (3) Safety Supplies items, the Vendor agrees to apply a retrospective discount of seven percent (7%) off the contracted sell price less any deviations – such as an applied credit, promotional price, price match, or volume discount - that occurred at the time of purchase. The Vendor will provide this discount in the form of an administrative fee, submitted as a check to the Indiana Department of Administration each quarter, after the quarterly review and identification of these 45 items.