Delaware § 2723 Repurchase terms

Delaware Statutes

§ 2723 — Repurchase terms

Delaware·Title 6·Ch. 27 CONTRACTS·Subch. Equipment Dealer Contracts

(a)The supplier shall repurchase from the dealer within 90 days after termination of the contract agreement all inventory previously purchased from the supplier that remains unsold on the date of termination of the agreement.

(b)The supplier shall pay the dealer:

(1)One hundred percent of the net cost of all new, unused, undamaged and complete inventory except repair parts, less a reasonable allowance for deterioration attributable to weather conditions at the dealer’s location.

(2)Eighty-five percent of the current net price of all new, unused and undamaged repair parts that are currently listed in the supplier’s price book. The supplier may perform the handling, packing and loading of repair parts returned and withhold 5 percent of the current net price of the repair parts returne

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(a) The supplier shall repurchase from the dealer within 90 days after termination of the contract agreement all inventory previously purchased from the supplier that remains unsold on the date of termination of the agreement.

(b) The supplier shall pay the dealer:

(1) One hundred percent of the net cost of all new, unused, undamaged and complete inventory except repair parts, less a reasonable allowance for deterioration attributable to weather conditions at the dealer’s location.

(2) Eighty-five percent of the current net price of all new, unused and undamaged repair parts that are currently listed in the supplier’s price book. The supplier may perform the handling, packing and loading of repair parts returned and withhold 5 percent of the current net price of the repair parts returned for their services.

(c) The inventory shall be returned FOB to the dealership. The dealer and the supplier may each furnish a representative to inspect all inventory and certify acceptability before being returned.

(d) The supplier shall pay the full repurchase amount to the dealer not later than 60 days after receipt of the inventory.

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