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Vermont Statutes Title 9. Commerce and Trade, § 4071. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

As used in this chapter:

(1) “Current net price” means the price listed in the supplier's price list or catalogue in effect at the time the dealer agreement is terminated, less any applicable discounts allowed.

(2)(A) “Dealer” means a person primarily engaged in the business of retail sales of inventory.

(B) “Dealer” does not include a “single line dealer,” a person primarily engaged in the retail sale and service of industrial, forestry, and construction equipment, who:

(i) has purchased 75 percent or more of his or her new inventory from a single supplier; and

(ii) has a total annual average sales volume for the previous three years in excess of $100 million for the entire territory for which the dealer is responsible.

(3) “Dealer agreement” means a written or oral agreement between a dealer and a supplier by which the supplier gives the dealer 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)(A) “Inventory” means:

(i) farm, utility, forestry, yard and garden, or industrial:

(I) tractors;

(II) equipment;

(III) implements;

(IV) machinery;

(V) attachments;

(VI) accessories; and

(VII) repair parts;

(ii) snowmobiles, as defined in 23 V.S.A. § 3201(5), and snowmobile implements, attachments, garments, accessories, and repair parts; and

(iii) all-terrain vehicles, as defined in 23 V.S.A. § 3801(1), and all-terrain vehicle implements, attachments, garments, accessories, and repair parts.

(B) “Inventory” does 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 who enters into a dealer agreement with a dealer.

(7) “Termination” of a dealer agreement means the cancellation, nonrenewal, or noncontinuance of the agreement.

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Cite this article: FindLaw.com - Vermont Statutes Title 9. Commerce and Trade, § 4071. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-9-commerce-and-trade/vt-st-tit-9-sect-4071/

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