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Vermont Statutes Title 9. Commerce and Trade, § 4104. Supplier's right to terminate agreement

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

(a) A supplier who does not intend to extend or renew a lease or agreement with a dealer upon the expiration of the term of said lease or agreement, or a renewal thereof, shall give written notice of his or her intention to the dealer at least 90 days prior to the expiration date. A supplier may cancel, terminate, or refuse to renew a lease or agreement without this notice at any time upon default on the part of the dealer.

(b) Grounds for termination or cancellation of an agreement or lease that are not contained in the agreement between the supplier and the dealer may be decided by negotiation between the supplier and the dealer or any attorney or other agent representing or designated by the dealer.

(c) The occurrence of any of the following shall constitute a waiver by the dealer of any rights under this section:

(1) criminal misconduct or violation of law relating to the business or premises of the dealer;

(2) fraud;

(3) any unauthorized closing of the business for seven consecutive days;

(4) bankruptcy or insolvency of the dealer;

(5) nonpayment of rent, or loss by the supplier of its legal rights to grant possession of leased premises to the dealer; or

(6) public condemnation or other public taking.

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Cite this article: FindLaw.com - Vermont Statutes Title 9. Commerce and Trade, § 4104. Supplier's right to terminate agreement - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-9-commerce-and-trade/vt-st-tit-9-sect-4104/

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