The Company Agrees:
1. To allow the Distributor to purchase the products of the company at the prevailing Distributor’s price.
2. To provide basic discounts, additional discounts on minimum purchases, from time to time, at the option of the company.
The Distributor Agrees:
1. To purchase products from the Company exclusively for re-sale and to be responsible for obtaining all permits and licenses required to sell the products on retail.
2. To pay accounts for purchases made in accordance with company policies and procedures in Credit Terms and Due Date without need of further notice or demand.
3. The Distributor agrees to post a non-interest bearing cash bond equivalent to two times the Distributor’s credit line provided for the Distributors in accordance with company policies and procedures on granting of credit line. In case of breach of any terms and conditions of the agreement, the company may, without notice, call on the said cash bond to any obligation of the Distributor.
THE COMPANY AND THE DISTRIBUTOR MUTUALLY AGREES:
1. That the Company may, at its sole option, amend the terms of this agreement; change reduce or cancel the credit limit, and change, diminish or cancel its incentive rebates or benefits policy at any time in any way.
2. That this agreement shall in no way make the Distributor an employee of the Company. The Distributor has no authority to enter into or bind Company in any contracts with other parties.
3. That Distributor shall not sell products lower or above the suggested Catalogue Price fixed by the Company.
4. That the Distributor abides by the policies, rules and regulations issued by the Company. Serious violation any provision may result to termination of this agreement.
5. That either party may terminate this agreement at will, with or without cause, at any time upon 15 days notice to the other. Upon termination of the Distributor all outstanding liabilities shall become immediately due and demandable.
6. That in the event of a dispute arising directly or indirectly fromt the execution of this agreement from its termination, only on the court of Muntinlupa City shall have the jurisdiction over the case. A;; the other venues are waived.
7. That rebates and other incentives are to be forfeited if not claimed within six (6) months from date of release.
8. That the company strictly prohibits the change of sponsor’s name.
9. That husband/wife team is considered as one.
10. All other terms and conditions are stated in the company’s policy.