Common use of EXCHANGE POLICY Clause in Contracts

EXCHANGE POLICY. If PURCHASER desires to return a specialty item in exchange for another specialty item, PURCHASER agrees to first contact ELITE to receive a return merchandise authorization (“RMA”) number. ELITE will honor PURCHASER’s request for such exchange AND apply an "Exchange Credit" to PURCHASER's account, provided a) returned item is being exchanged for another item of equal or greater value b) PURCHASER returns the item within thirty (30) days following the date ELITE ships the item, in its original package with the RMA number clearly written on the outside of box, c) freight is pre-paid by PURCHASER, d) the returned item is in a resalable condition, and e) the returned item is insured for the value of the replacement cost to PURCHASER against loss or damage during shipment, and shipped using U.S. Certified Mail or other reliable courier that provides written proof of delivery to the following address: Elite Software, Inc., ATTN: Returns, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇., #▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇.▇.▇. ELITE will not accept any shipments not clearly displaying the RMA number on the outside of package. If the exchanged item was of greater value than the returned item, payment for the difference, not including any shipping costs, must be paid by PURCHASER to ELITE before ELITE is able to ship the exchanged item to PURCHASER. Once the returned item is received by ELITE, ELITE will inspect the returned item to determine if PURCHASER is eligible for an exchange. If PURCHASER is eligible for an exchange, ELITE will i) first issue an Exchange Credit regarding the returned item, ii) request PURCHASER to immediately sign a new “Elite Software, Inc Specialty Items Order Form & Agreement” regarding the exchanged item, iii) invoice PURCHASER for the difference in costs between the returned item and the exchanged item, if applicable, and iv) ship the new item to PURCHASER once such agreement, and payment if applicable, is received and approved by ELITE. "Exchange Credit" equals the amount paid by PURCHASER for equipment, and does not include the cost paid by PURCHASER for shipping and handling fees. If PURCHASER initially paid with a credit card, this credit will NOT be issued back to PURCHASER's credit card, but will be applied to PURCHASER's account with ELITE with the understanding that credit will be applied toward the cost of the exchanged item. In the event thirty days pass from the date the returned item was first received by ELITE for the purpose of exchanging for another item and: i) Purchaser was unable or unwilling to sign a new “Elite Software, Inc Specialty Items Order Form & Agreement” regarding the exchanged item, or make a payment in full for the difference in costs between the two items, within said thirty-day period, ii) a new “Elite Software, Inc Specialty Items Order Form & Agreement” regarding the exchanged item was received by ELITE within said thirty-day period but NOT approved by ELITE, or iii) PURCHASER decided to no longer exchange the returned item for a new item, ELITE will invoice Purchaser a restocking fee equal to 15% of the amount initially paid by PURCHASER for equipment.

EXCHANGE POLICY. If PURCHASER desires to return a specialty item in exchange for another specialty item, PURCHASER agrees to shall first contact ELITE to receive a return merchandise authorization (“RMA”) number. ELITE will honor PURCHASER’s request for such exchange AND apply an "Exchange Credit" to PURCHASER's account, provided a) returned item is being exchanged for another item of equal or greater value b) PURCHASER returns the item within thirty (30) days following the date ELITE ships the item, in its original package with the RMA number clearly written on the outside of box, c) freight is pre-paid by PURCHASER, d) the returned item is in a resalable condition, and e) the returned item is insured for the value of the replacement cost to PURCHASER against loss or damage during shipment, and shipped using U.S. Certified Mail or other reliable courier that provides written proof of delivery to the following address: Elite Software, Inc., ATTN: Returns, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇., #▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇.▇.▇. ELITE will not accept any shipments not clearly displaying the RMA number on the outside of package. If the exchanged item was of greater value than the returned item, payment for the difference, not including any shipping costs, must be paid by PURCHASER to ELITE before ELITE is able to ship the exchanged item to PURCHASER. Once the returned item is received by ELITE, ELITE will inspect the returned item to determine if PURCHASER is eligible for an exchange. If PURCHASER is eligible for an exchange, ELITE will i) first issue an Exchange Credit regarding the returned item, ii) request PURCHASER to immediately sign a new “Elite Software, Inc Inc. Specialty Items Order Form & Agreement” and Agreement regarding the exchanged item, iii) invoice PURCHASER for the difference in costs between the returned item and the exchanged item, if applicable, and iv) ship the new item to PURCHASER once such agreement, and payment if applicable, is received and approved by ELITE. "Exchange Credit" equals the amount paid by PURCHASER for equipment, and does not include the cost paid by PURCHASER for shipping and handling fees. If PURCHASER initially paid with a credit card, this credit will NOT be issued back to PURCHASER's credit card, but will be applied to PURCHASER's account with ELITE with the understanding that credit will be applied toward the cost of the exchanged item. In the event thirty days pass from the date the returned item was first received by ELITE for the purpose of exchanging for another item and: i) Purchaser was unable or unwilling to sign a new “Elite Software, Inc Specialty Items Order Form & Agreement” regarding the exchanged item, or make a payment in full for the difference in costs between the two items, within said thirty-day period, ii) a new “Elite Software, Inc Specialty Items Order Form & Agreement” regarding the exchanged item was received by ELITE within said thirty-day period but NOT approved by ELITE, or iii) PURCHASER decided to no longer exchange the returned item for a new item, ELITE will invoice Purchaser a restocking fee equal to 15% of the amount initially paid by PURCHASER for equipment.