(1)If a
dealer agreement is canceled or not renewed by either party or by mutual consent,
the supplier shall repurchase the dealer's remaining inventory and any specific data
processing hardware and software that the supplier required the dealer to
purchase, including computer systems equipment the supplier required for
communications purposes. The supplier shall repurchase such equipment at its fair
market value.
(2)(a) The supplier shall repurchase specialized repair tools purchased by
the dealer pursuant to the supplier's requirements. Such specialized repair tools
must be unique to the supplier product line and in complete and usable condition.
(b)The supplier shall repurchase specialized repair tools at a price equal to
seventy-five percent of the total invoice amount ch
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(1) If a
dealer agreement is canceled or not renewed by either party or by mutual consent,
the supplier shall repurchase the dealer's remaining inventory and any specific data
processing hardware and software that the supplier required the dealer to
purchase, including computer systems equipment the supplier required for
communications purposes. The supplier shall repurchase such equipment at its fair
market value.
(2) (a) The supplier shall repurchase specialized repair tools purchased by
the dealer pursuant to the supplier's requirements. Such specialized repair tools
must be unique to the supplier product line and in complete and usable condition.
(b) The supplier shall repurchase specialized repair tools at a price equal to
seventy-five percent of the total invoice amount charged by the supplier to the
dealer.
(3) The supplier shall pay the dealer one hundred percent of the net cost of
all new, unsold, undamaged, and complete equipment that is resalable. The supplier
may deduct a reasonable allowance for depreciation due to the dealer's usage and
deterioration caused by weather conditions at the dealer's location. The supplier
may also deduct all programs and discounts it previously allowed.
(4) (a) The supplier shall pay the dealer ninety-five percent of the current net
price of all new, unused, and undamaged repair parts and accessories that are
listed in the supplier's effective price list or catalog.
(b) A dealer may not return obsolete parts; except that a dealer may return a
part for credit if it is found in the supplier's current returnable parts list or any
superseded part that is not the subject to the suppliers parts return program as of
the date of termination.
(5) (a) The supplier shall pay the dealer five percent of the current net price
on all new, unused, and undamaged repair parts that the dealer returns to cover the
cost of handling, packing, and loading.
(b) The supplier may perform the handling, packing, and loading itself
instead of paying the five percent handling fee pursuant to paragraph (a) of this
subsection (5). The dealer shall make available to the supplier all equipment
previously purchased by the dealer. The dealer shall make such equipment
available at the dealer's place of business or at those places where the equipment
is located.
(6) This section does not require a supplier to repurchase any of the
following:
(a) A repair part that has a limited storage life or that is subject to
deterioration;
(b) A single repair part that is priced as a set of two or more items;
(c) A repair part that, because of its condition is not resalable as a new part
without being repaired or reconditioned;
(d) Inventory for which the equipment dealer is unable to furnish evidence, to
the supplier's satisfaction, of good title that is free and clear of all claims, liens, and
encumbrances;
(e) Inventory that the dealer wants to keep, including lease or rental
equipment if the dealer has a contractual right to do so;
(f) Equipment that is not in new, unused, undamaged, and complete
condition;
(g) (I) Equipment that has been used by the dealer or has deteriorated
because of weather conditions at the dealer's location unless the supplier receives
an allowance for this usage or deterioration.
(II) For purposes of this paragraph (g), previously unsold demonstrated
equipment that has less than fifty hours of use and that is equipped with an hour
meter is new equipment.
(h) Repair parts that are not in new, unused, and undamaged condition;
(i) Inventory that the dealer ordered on or after the date the dealer received
the notification of the supplier's termination of the dealer agreement; or
(j) Inventory that the dealer acquired from any source other than the supplier
or the supplier's successor in interest.
(7) If a supplier fails or refuses to repurchase inventory as required by this
section, the supplier shall be liable for:
(a) One hundred ten percent of the current net price of the inventory;
(b) Any freight charges paid by the dealer;
(c) Interest at the statutory rate from the date of shipment to the supplier;
and
(d) Five percent of the inventory's current net price to cover handling,
packing, and loading.