Common use of STANDARD RETURN GOODS POLICY Clause in Contracts

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material credit from a distributor’s stock subject to the following conditions. (a) A Return Material Authorization (“RMA”) must be initiated by the local sales representative. (Goods cannot be returned by Buyer until RMA authorization notification and factory issued RMA forms are received.) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to Buyer’s customer, or Goods being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA freight collect, cheapest way with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material Goods credit from a distributorBuyer’s stock subject to the following conditions. (a) A Return Material Authorization (“RMA”) must be initiated by the local sales representative. (Goods cannot be returned by Buyer until RMA authorization notification and factory issued RMA forms are received).) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, and other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to Buyer’s customer, or Goods material being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will we be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA freight collect, cheapest way with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material Goods credit from a distributorBuyer’s stock subject to the following conditions.: (a) A Return Material Materials Authorization (“RMA”) must be initiated by the local sales representative. (Goods Material cannot be returned by Buyer the distributor until RMA authorization notification and factory issued RMA forms are received).) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods Materials not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, and other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to a Buyer’s customer, or customer to Goods being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge charge, where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are is to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA RMA, freight collect, cheapest way way, with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material Goods credit from a distributorBuyer’s stock subject to the following conditions.: (a) A Return Material Materials Authorization (“RMA”) must be initiated by the local sales representative. (Goods Material cannot be returned by Buyer the distributor until RMA authorization notification and factory issued RMA forms are received).) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-12- month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods Materials not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, and other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to a Buyer’s customer, or customer to Goods being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge charge, where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are is to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA RMA, freight collect, cheapest way way, with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material credit from a distributor’s stock subject to the following conditions. (a) A Return Material Authorization (“RMA”) must be initiated by the local sales representative. (Goods cannot be returned by Buyer until RMA authorization notification and factory issued RMA forms are received.) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-12- month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to Buyer’s customer, or Goods being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA freight collect, cheapest way with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.

STANDARD RETURN GOODS POLICY. Seller’s returned goods program allows a Buyer who is a distributor the flexibility required to carry a complete inventory of Seller’s Goods with a minimum risk of inventory obsolescence. Seller will accept Goods of its manufacture for material Goods credit from a distributorBuyer’s stock subject to the following conditions. (a) A Return Material Authorization (“RMA”) must be initiated by the local sales representative. (Goods cannot be returned by Buyer until RMA authorization notification and factory issued RMA forms are received).) (b) Annual authorizations will be considered for amounts up to 3% of stock purchases made during the prior 12-month period. (c) All returned Goods must be currently cataloged items, new, in resalable condition, and in original, unopened cartons. (d) Goods purchased more than 12 months prior to the RMA request will not be allowed. (e) Goods not allowed on RMA include the following: special Goods not in the catalog, discontinued Goods, cast junction boxes and other enclosures, other customized Goods, catalog Goods modified to customer specifications, and other Goods deemed non-returnable by Seller, and Reelite Goods. Other Goods not allowed include Goods shipped directly to Buyer’s customer, or Goods material being returned directly from the customer’s stock. (f) Credit for all eligible returned Goods will be issued at the purchased price less cash discount, restocking and refurbishing charge where required. A minimum restocking, handling expense charge of 10% or $50.00, whichever is higher, will apply to any return regardless of size, plus all shipping expenses incurred by the Seller. Credit will be issued within 60 days of receipt unless other arrangements are made with Seller. (g) If an invoice for the Goods is not provided, credit will be issued at two price sheets back at the current into stock price levels for commonly stocked Goods and negotiated for all others. Credit will be issued in the form of Goods credit only. (h) Credit will be issued only on the quantities actually received by Seller. No unauthorized Goods will be accepted. (i) Authorized stock returns must be shipped freight prepaid to the destination stipulated on the RMA and must be accompanied by the issued RMA form. (j) Goods shipped in error by Seller, or which are to be returned because of manufacturing defects, must be processed on a separate RMA and may be returned to the destination stated on the RMA freight collect, cheapest way with no restocking charge, and accompanied by the issued RMA form. (k) All returns are subject to inspection and final credit approval. (l) Goods must be returned within 60 days of RMA issuance or the RMA will be void. (m) Goods returned which do not meet this RMA policy may be returned at Buyer’s expense or scrapped with no credit allowed.