MONTHLY RETURNS Sample Clauses
The "Monthly Returns" clause establishes the requirement for a party, typically a distributor or licensee, to submit regular reports detailing sales, usage, or other relevant activities on a monthly basis. These reports may include information such as quantities sold, inventory levels, or royalties owed, and are usually due within a specified timeframe after the end of each month. By mandating consistent and timely reporting, this clause ensures transparency, facilitates accurate accounting, and enables the other party to monitor compliance and calculate payments or royalties efficiently.
MONTHLY RETURNS. This practice covers the return of surplus inven- tory and ordered-in-error material. Good inventory management practices coupled with the Seco dis- count structure which is independent of order size, should help minimize surplus inventory. Neverthe- less, Seco recognizes that surpluses may build from time to time. Ordered-in-error is generally defined to mean any Distributor or end-user error resulting in the purchase of an incorrect product or quantity of product. Seco will accept returns for the above reasons on a monthly basis under the following procedures and conditions: • The Distributor must submit a list of mate- rial by using either the on line RMA Request or by sending a request to customer Service. The preferred method is that the request be completed and transmitted on-line. Whether submitting a RMA Request on-line or via email, phone or fax, all return requests must be pre- approved by Customer Service. • Customer Service will provide the Distributor with a return Material (RM) number, label, packing list and return material listing. • The return must have the pre-printed label clearly affixed to the return package, include the completed pre-printed packing list and is subject to inspection prior to issuance of credit. • The Distributor will be advised of any non-con- forming material. • A final credit will be issued by Credit & Claims, within 30 days of receipt of material. • The frequency of returns is at the discretion of the distributor. • A handling fee of $25 will be charged for each return that has been submitted electronically through Seco’s website. A handling fee of $75 will be charged for each return request submit- ▇▇▇ by telephone, fax, or email. • Total value of all returns is limited to 5% of the previous 12 months purchases. Seco will consider specific, unusual returns for exclusion from the 5% cap at the written request of the Distributor. Acceptance of returns excluded from the 5% cap are at the sole discretion of Seco. • Returns must be received at Seco within 30 days of the issuance of the RM number. After 30 days the RM number is no longer valid and a new request must be submitted. • Products must be purchased within the previ- ous 24 months from the date of return. • Material must be current stock standards (“S” or “E” status), new and unused, in original package quantity with the package seal unbro- ▇▇▇, and in resalable condition. • Quick response items with a “C” stock status are not returnable (see section 1.4). • A ...
MONTHLY RETURNS. (a) In general—(1)
MONTHLY RETURNS. 3.1 The Seller (Sannix Global Services Nigeria Limited) shall pay the monthly return of 7% to the Purchaser on the total value of the purchased shares within seven (7) days of the end of each calendar month.
3.2 The monthly returns shall be paid to the Purchaser's designated bank account or in a manner agreed upon by both Parties.
MONTHLY RETURNS. The provisions of this section are not applicable with respect to taxes for the month in which the employer receives notice that returns are required under § 31.6011 (a)–5 (or for any subsequent month for which such a return is re- quired), if those taxes are also required to be deposited under the separate ac- counting procedures provided in § 301.7512–1 of this chapter (Regulations on Procedure and Administration) (which procedures are applicable if no- tification is given of failure to comply with certain employment tax require- ments). In cases in which a monthly re- turn is required under § 31.6011 (a)–5 but the taxes are not required to be depos- ited under the separate accounting pro- cedures provided in § 301.7512–1, the pro- visions of this section shall apply ex- cept that paragraph (a)(1)(iv) shall not authorize the deferral of any deposit to a date after the date on which the re- turn is required to be filed.