1. Rental of Display Shelf: Vendor agrees to rent display shelf space from the Store for a minimum period of 29Â business days (Approx 1 month)Â commencing on the Effective Date. The rental fee is payable in advance and includes a commission of 20% on gross revenue generated during the rental period, which will cover administrative and point-of-sale (POS) fees. The net revenue will be remitted to Vendor after the end of the rental period.
2. Display Setup: Vendor shall have the right to arrange their display area as desired, provided that the setup is completed by the start of the rental period. Vendor must coordinate with the Store to schedule setup days and times.
3. Removal of Display: Upon the expiration of the rental period, the Vendor agrees to remove their display from the rented space. The Store and Vendor will coordinate to agree upon a suitable date for removal.
4. Payment Terms: Rental fees are due in full and in advance to reserve the rental space. The Store will provide sales reports to the Vendor, and the final payment for sales, net of the agreed commission, will be made at the conclusion of the rental period.
5. Responsibilities: The Store will provide the shelf space in good condition. The Vendor is responsible for maintaining their display in a tidy and attractive manner. The Vendor will be liable for any damages caused by their display and will be responsible for the cost of repair or replacement as necessary.
6. Termination: Either party may terminate this Agreement upon providing two (2) weeks' written notice to the other party. Notwithstanding any termination, rental payments made are non-refundable.
This Agreement represents the entire understanding between the Store and Vendor concerning the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.
We look forward to a mutually beneficial relationship.
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