§ 4071 - Definitions - Vermont Statutes

§ 4071. Definitions

As used in this chapter:

(1) "Current net price" means the price listed in the supplier's price list or catalog in effect at the time the dealer agreement is terminated, less any applicable discounts allowed.

(2) "Dealer" means a person, corporation or partnership primarily engaged in the business of retail sales of farm and utility tractors, farm implements, farm machinery, forestry equipment, industrial equipment, utility equipment, yard and garden equipment, attachments, accessories and repair parts. Provided however, "dealer" shall not include a "single line dealer" primarily engaged in the retail sale and service of industrial, forestry and construction equipment. "Single line dealer" means a person, partnership or corporation who:

(A) has purchased 75 percent or more of the dealer's total new product inventory from a single supplier; and

(B) has a total annual average sales volume for the previous three years in excess of $15 million for the entire territory for which the dealer is responsible.

(3) "Dealer agreement" means a written or oral contract or agreement between a dealer and a wholesaler, manufacturer or distributor by which the dealer is granted the right to sell or distribute goods or services or to use a trade name, trademark, service mark, logotype or advertising or other commercial symbol.

(4) "Inventory" means farm, utility, forestry or industrial equipment, implements, machinery, yard and garden equipment, attachments or repair parts. These terms do not include heavy construction equipment.

(5) "Net cost" means the price the dealer paid the supplier for the inventory, less all applicable discounts allowed, plus the amount the dealer paid for freight costs from the supplier's location to the dealer's location. In the event of termination of a dealer agreement by the supplier, "net cost" shall include the reasonable cost of assembly or disassembly performed by a dealer.

(6) "Supplier" means a wholesaler, manufacturer or distributor of inventory as defined in this chapter who enters into a dealer agreement with a dealer.

(7) "Termination" of a dealer agreement means the cancellation, nonrenewal or noncontinuance of the agreement. (Added 1993, No. 113 (Adj. Sess.), § 1, eff. March 4, 1994.)