Legal Term
antique mall vendor contract hidden storage fee calculation method
Legal Definition
A contractual provision in antique mall vendor agreements that specifies the methodology for computing fees associated with the storage of vendor inventory in designated storage areas, which may not be explicitly disclosed in the primary rental terms and can involve complex or opaque calculations.
In Plain English
A hidden or not-clearly-stated way that antique malls figure out extra charges for storing vendors' items, often leading to surprise costs.
Example in a Contract
Section 7. Storage Fees: Vendor shall pay a monthly storage fee for any items stored in Mall's storage facilities. Such fee shall be calculated at $2.00 per square foot per month based on the storage space assigned to Vendor, with adjustments permitted annually upon 60 days' written notice. Storage fees are considered additional rent and are due concurrently with the base rental payment.
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