696-F - Repurchase of Equipment Upon Termination.

NY Gen Bus L § 696-F (2019) (N/A)
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(a) any repair part which has a limited storage life or is otherwise subject to deterioration;

(b) any single repair part which is priced as a set of two or more items;

(c) any repair part which because of its condition is not resalable as a new part without repairing or reconditioning;

(d) any inventory for which the dealer is unable to furnish evidence reasonably satisfactory to the supplier, of good title, free and clear of all claims, liens and encumbrances;

(e) any inventory which the dealer desires to keep, provided the dealer has a contractural right to do so;

(f) any equipment which is not in new, unused, undamaged, and complete condition;

(g) any equipment which has been used by the dealer or has deteriorated because of weather conditions at the dealer's location unless the supplier receives a reasonable allowance for such usage or deterioration;

(h) any repair parts which are not in new, unused, undamaged condition;

(i) any inventory which was ordered by the dealer on or after the date of receipt of the notification of termination of the dealer agreement; or

(j) any inventory which was acquired by the dealer from any source other than the supplier. 5. If any supplier shall fail or refuse to repurchase any inventory covered under the provisions of this article within sixty days after termination of a dealer's contract, he shall be civilly liable for a total amount of one hundred fifteen percent of the current net price of the inventory plus any freight charges paid by the dealer plus all cost of financing such repurchase, including courts costs and reasonable attorneys' fees allowed by the court.