PREVAL’S WHOLESALE RETURN POLICY
At Preval’s sole discretion, Customer may be permitted one (1) stock adjustment each calendar year under the following terms and conditions. All information contained herein is subject to change without notice. Buyers acceptance of delivery of the product constitutes buyer’s acceptance of the terms herein. Any additional or different terms proposed by buyer are hereby rejected in their entirety unless expressly assented to in writing by seller’s authorized agent.
This agreement shall be deemed to have been entered into, shall be governed by and construed in accordance with the law of the State of Illinois. Any controversy or claim which purchaser may have against seller, shall be settled by non-binding arbitration in the State of Illinois. Any dispute not settled by non-binding arbitration, and resulting in legal action, shall be maintained in the State of Illinois, and purchaser submits to the jurisdiction and venue in said courts. No arbitration proceeding or legal action, regardless of its form, related to or arising out of this Agreement, its making, performance or interpretation, may be brought by purchaser more than one (1) year after the cause of action first accrued.
- In accordance with the following: Customer shall be allowed a stock adjustment credit, (exclusive of freight cost and restocking fee), for returned products authorized by Preval. Credit value shall be no greater than the lowest price paid by Customer for such products during the twelve (12) month period prior to the adjustment request date.
- Preval shall determine, at its sole discretion, whether returned products are eligible for stock adjustment credit. Customer may return only new, unused and current style products, determined and approved by Preval, at Preval’s sole discretion. Return of non-stock and/ or “special” items shall not be permitted. Returned products, determined by Preval not to have been procured from Preval, shall not receive credit and, with Customer’s timely request and at Customer’s sole expense, be returned to Customer.
- All returned products shall be subject to a 20% restocking fee. The 20% restocking charge WILL be waived if a 1 for 1 offsetting order is ATTACHED to the return. Customer shall pay for all delivery charges to the warehouse location designated by Preval. Unless otherwise authorized, delivery to the warehouse location shall be by common carrier.
- The amount of the stock adjustment credit shall not exceed three percent (3%) or up to $2,500 of the total invoiced value of the Customer’s product purchases from Preval during the previous calendar year.
- All authorized Preval product returns must be accompanied by Customer’s purchase order for Preval replacement products, in Preval’s current inventory, in a dollar amount equal to or greater than the value of the stock adjustment credit.
- No stock adjustment requests shall be processed between October 1st and December 31st of a calendar year.
- No returns shall be permitted without Preval’s prior written approval and must have a Return Goods Authorization Number, (RGA#), attached.
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