Pay as you Go Agreement

Date: ______ / ______ / ______

 

CTC ____[Outlet Name]__________agrees to stock and sell the products described in the attached order form for a term of 90 days at which time the sales agreement will be extended or closed based on sales reports. Payments for the sold stock will be made at the end of each month across the 90-day period as per the terms & conditions specified below.

 

____________________________________

 

Inner Vape Co Pty Ltd. Signature

 

______________________________________

 

____[Owner/Manager’s Name]___Signature

 

Terms and Conditions:

  1. The maximum vaping stock order value will be $300.
  2. The duration of the ‘Pay as You Sell’ terms will be 90 days and commences from the day of this contract and consignment order.
  3. The CTC customer must provide a total stock take at the beginning of the 90-day period using you last order as a baseline.
  4. Only those CTC customers that DO NOT have outstanding invoices are eligible for this program.
  5. No stock will be returned before the 90-day term.  The usual returns and exchange policies will apply for faulty or damaged product.
  6. At the end of each month, payment must be made to InnerVapeCo. for the stocks sold in that month.  Additionally, the following terms will apply:
    1. If the CTC Outlet sells entire stock in month one, they will receive a 10% discount off their invoice.
    2. If the CTC Outlet sells entire stock at the end of month two, they will receive a 5% discount off their invoice.
  7. Customer shall devote their best efforts to the sale of the stock throughout the term of the program.
  8. At the end of the 90-day term, the customer can choose to pay for the remaining stock or return the remaining stock to InnerVapeCo.  No products will be accepted upon return that are damaged, opened or used.  All return stock must be in the same condition as when the stock was received at the beginning of the term.  As the owner of the vaping stock, this will be at the discretion of InnerVapeCo.
  9. The customer has the option of paying for the stocks via deductions from their CTC tobacco rebates.
  10. The vaping stock shall remain the property of InnerVapeCo. until sold in the regular course of business, except that customer shall be responsible for all shortages of stock.
  11. Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if evidenced in a writing signed by each party or an authorised representative of each party.
  12. In the event that a customer does not pay for the stock at the specified/agreed times, the monies will be deducted from their CTC rebates as outlined in section (9) above.