Distribution Agreements · glossary
Cressby’s duty, when the Agreement ends, to buy back unsold machines that are new and boxed, at the price Tullavane paid. In March 2030, 40 machines at €4,000 a machine came to €160,000. Cressby need buy nothing back if it ended the deal for Tullavane’s breach or insolvency. Agreement, clause 23.1 · Chapter 10 · see Option
Explained in Chapter 10, Ending a Distribution Agreement: Stock, Customers and Goodwill, of Distribution Agreements.
Tullavane’s real fear, from the first talks, was being left with unsold machines at the end. It pays for its machines soon after delivery, so a full warehouse ties up a lot of money. Stock means machines delivered to Tullavane that it has not yet sold or rented. The buy-back in the next clause makes Cressby take that stock back…Read Chapter 10, Ending a Distribution Agreement: Stock, Customers and Goodwill →
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