Trade Discounts definition
Examples of Trade Discounts in a sentence
No Trade Discounts are allowed unless agreed in writing by the Company.
Vendor and Approved Distributors shall sell Licensed Products to Company International Stores and Company Franchise Stores at a price to be negotiated by the parties but which shall not exceed the most favorable price that Vendor sells to Approved Retailers and Approved Distributors (including any Trade Discount(s) or other discounts or gross margin percentage equivalent benefit).
Licensor’s Performance Audit shall be conducted to determine, inter alia, Licensee’s accounting reports and sales of Licensed Products, as well as all Returns and Trade Discounts, and shall be conducted during normal business hours at Licensee’s business office or location of such files and records.
The Royalty Statement shall indicate by quarter Annual Period: (i) the invoice price of Licensed Products shipped or sold during the period itemized by style number covered by such Sales Royalty payment; (ii) the Returns and Trade Discounts which properly may be deducted from gross sales; (iii) Net Sales; and (iv) a computation of the amount of Sales Royalty payable hereunder for the quarter Annual Period.
If the information necessary for LICENSOR to determine or verify claimed Allowances, Trade Discounts or Closeouts is not provided properly as required by this Agreement and the attached forms, then LICENSOR shall have the right to disregard said claimed Allowances, Trade Discounts and/or Closeouts in calculating the Trademark Royalties due under this Agreement to the extent that LICENSOR is unable to verify the same.
Within thirty (30) days after the end of each Contract Year LICENSEE shall provide to LICENSOR a composite royalty statement showing aggregate Gross Sales, Trade Discounts, merchandise returns, Allowances and any other deduction taken pursuant to Section 13.3 above to arrive at the Net Sales price of all Products sold by LICENSEE.
This means that the Referral Commissions and Trade Discounts do not accrue deal on deal, but are calculated for each separate deal each time.
The Statement of Royalties shall also provide an accounting of the invoice price for all sales of Licensed Products, Discounted Products, Allowances, Markdowns, Trade Discounts, Closeouts, and substandard merchandise, all advertising and promotional expenditures by LICENSEE, all returned merchandise and all confirmed, accepted orders (i) delivered by completion date specified in the order, (ii) delivered after such completion date, or (iii) not delivered.
Within thirty (30) days after the end of each Contract Year LICENSEE shall also provide to GUESS a composite royalty statement showing the aggregate Gross Sales, Trade Discounts, Returns, Exempt Product returns, Allowances and Closeouts, and any other deduction taken pursuant to Section 13.4 above to arrive at the Net Sales price of all Products sold by LICENSEE.
All Trade Discounts (other than confidential corporate rebates, which must be disclosed to GUESS at the time such rebates are granted) must appear on the face of each invoice and each such Discount must be itemized as a percentage reduction in the list price.