Legal Term
vending machine placement agreement revenue share and restocking fees
Legal Definition
A contractual arrangement where a property owner grants a vending machine operator the right to install and maintain vending machines on the premises, with the owner entitled to a specified percentage of gross sales revenue, and the operator levying fees for the service of replenishing inventory.
In Plain English
An agreement where you allow someone to put a vending machine in your building, you get a share of the money from sales, and they charge you a fee every time they refill the machine.
Example in a Contract
2. REVENUE SHARE. Operator shall pay Owner a monthly revenue share equal to twelve percent (12%) of all gross sales from Vending Machines installed at the Premises, calculated based on machine reports. 3. RESTOCKING FEES. Owner shall reimburse Operator for restocking services at a rate of forty-five dollars ($45) per machine per visit, inclusive of labor and transportation, with invoices due within fifteen (15) days of receipt.
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