The wholesaler, manufacturer, or distributor shall repurchase the inventory previously purchased from him and held by the retailer within ninety days of the date of termination of the contract by either party. The wholesaler, manufacturer, or distributor shall pay one hundred percent of the net cost of all new, unsold, undamaged, and complete farm implements, machinery, utility, and industrial equipment, and attachments, ninety percent of the current net price of all new, unused, undamaged repair parts, and eighty-five percent of the new price of superseded parts. The wholesaler, manufacturer, or distributor shall pay the retailer five percent of the current net price on all new, unused, and undamaged repair parts returned to cover the cost of handling, packing, and loading. The wholesaler, manufacturer, or distributor may perform the handling, packing, and loading in lieu of paying the five percent for the services.
HISTORY: 1984 Act No. 326.
Structure South Carolina Code of Laws
Chapter 59 - Franchise Agreements Relating To Retail And Repurchase Of Farm Implements, Etc.
Section 39-59-10. Definitions.
Section 39-59-20. Repurchase of inventory upon termination of franchise agreement.
Section 39-59-30. Repurchase of inventory within ninety days; handling costs.
Section 39-59-40. Repurchase amount due within thirty days; title to inventory.
Section 39-59-50. Limitations upon repurchase of certain inventory.
Section 39-59-60. Liability for failure to make timely repurchase of inventory.
Section 39-59-70. Repurchase of inventory upon death or incapacity of retailer.
Section 39-59-80. Security interests in inventory.
Section 39-59-90. Audit of books or records.
Section 39-59-100. Warranty claims.
Section 39-59-110. Indemnification of retailer.