Common use of Stock Rotation Clause in Contracts

Stock Rotation. Within 30 days after the end of each March, June, September and December during the term of this Agreement, Distributor may return Products to Kofax for restocking only after Kofax has given a Return Material Authorization (RMA) number to Distributor. Distributor may only return Products which have been shipped to the Distributor within the prior 6 months. Distributor may return any quantity of Products to Kofax for credit provided the total credit shall not exceed 5% of the net sales dollars invoiced by Kofax to the Distributor during the said 6 month period. The credit to be issued in respect of each such Product returned shall be the actual net invoiced charged for same, less any prior credits granted by Kofax to Distributor. All Products returned in accordance with this provision must be returned freight pre-paid and must be previously unsold, unused, and in their original containers. The Distributor will place a non-cancelable order of equal value to offset the credit issued at the time the RMA is requested. Any demonstration unit or non-standard special order products purchased by Distributor as "non-cancelable/non-returnable" do not quality for stock rotation.

Stock Rotation. Within 30 days after the end of each March, June, September and December during the term of this Agreement, Distributor may return Products to Kofax for restocking only after Kofax has given a Return Material Authorization (RMA) number to Distributor. Distributor may only return Products which have been shipped to the Distributor within the prior 6 months. Distributor may return any quantity of Products to Kofax for credit provided the total credit shall not exceed 5% of the net sales dollars invoiced by Kofax to the Distributor during the said 6 month period. The credit to be issued in respect of each such Product returned shall be the actual net invoiced charged for same, less any prior credits granted by Kofax to Distributor. All Products returned in accordance with this provision must be returned freight pre-paid and must be previously unsold, unused, and in their original containers. The Distributor will place a non-cancelable order of equal value to offset the credit issued at the time the RMA is requested. Any demonstration unit or non-standard special order products purchased by Distributor as "non-cancelable/non-returnable" do not quality qualify for stock rotation.