§4071. Definitions

Link to law: http://legislature.vermont.gov/statutes/section/09/107/04071
Published: 2015

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The Vermont Statutes Online



Title

09

:
Commerce and Trade






Chapter

107

:
MACHINERY DEALERSHIPS











 

§

4071. Definitions

As used in this

chapter:

(1)

"Current net price" means the price listed in the supplier's price

list or catalog in effect at the time the dealer agreement is terminated, less

any applicable discounts allowed.

(2)

"Dealer" means a person, corporation, or partnership primarily

engaged in the business of retail sales of farm and utility tractors, farm

implements, farm machinery, forestry equipment, industrial equipment, utility

equipment, yard and garden equipment, attachments, accessories, and repair

parts. Provided however, "dealer" shall not include a "single

line dealer" primarily engaged in the retail sale and service of

industrial, forestry, and construction equipment. "Single line

dealer" means a person, partnership or corporation who:

(A) has

purchased 75 percent or more of the dealer's total new product inventory from a

single supplier; and

(B) has a total

annual average sales volume for the previous three years in excess of $15

million for the entire territory for which the dealer is responsible.

(3) "Dealer

agreement" means a written or oral contract or agreement between a dealer

and a wholesaler, manufacturer, or distributor by which the dealer is granted

the right to sell or distribute goods or services or to use a trade name,

trademark, service mark, logotype, or advertising or other commercial symbol.

(4)

"Inventory" means farm, utility, forestry, or industrial equipment,

implements, machinery, yard and garden equipment, attachments, or repair parts.

These terms do not include heavy construction equipment.

(5) "Net

cost" means the price the dealer paid the supplier for the inventory, less

all applicable discounts allowed, plus the amount the dealer paid for freight

costs from the supplier's location to the dealer's location. In the event of

termination of a dealer agreement by the supplier, "net cost" shall

include the reasonable cost of assembly or disassembly performed by a dealer.

(6)

"Supplier" means a wholesaler, manufacturer, or distributor of

inventory as defined in this chapter who enters into a dealer agreement with a

dealer.

(7)

"Termination" of a dealer agreement means the cancellation,

nonrenewal or noncontinuance of the agreement. (Added 1993, No. 113 (Adj.

Sess.), § 1, eff. March 4, 1994.)
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