This form contains a Most Favored Customer Clause, which can be incorporated into license agreements to obligate the licensor to grant the licensee equivalent or better terms than the licensor has granted to any of its past, present and future customers.
Illinois Most Favored Customer Clause
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US-IP1019
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How to fill out Illinois Most Favored Customer Clause?
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FAQ
A Standard Clause allowing a buyer to obtain the best possible price on goods or services from a seller by requiring it to provide the buyer with the lowest price among all buyers in that market.
Most favoured customer clauses in commercial contracts provide that the supplier will always give the customer its best price and terms. They usually provide that if the supplier gives another customer a better deal then it has to pay the favoured customer the difference.
FavouredCustomer Clause (MFC) is a contractual arrangement between vendor and customer that guarantees the customer the best price the vendor gives to anyone. The MFC prevents a company from treating different customers differently in negotiations.
Most-Favored Nations (MFN) clauses (also known as antidiscrimination clauses or most-favored customer clauses) are common in business today. These provisions require that the supplier will treat a particular customer no worse than all other customers (and sometimes even better).
A Standard Clause allowing a buyer to obtain the best possible price on goods or services from a seller by requiring it to provide the buyer with the lowest price among all buyers in that market.
GSA has a clause called the Most Favored Customer (MFC) clause. It requires the contractor to offer the government at least the best price it offered to a previous customer. GSA uses this clause for its schedules.
Under Section 1, a court judges the legality of an MFN under the rule of reason and weighs its potential procompetitive and anticompetitive effects against each other (see Practice Note, Antitrust Rule of Reason). The most obvious procompetitive benefit of an MFN usually is some assurance of lower prices to the buyer.
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By D Springer ? The MFC clause is a promise by a firm that should it lower its price within a certain timeframe, it will rebate the price difference to past customers. Although ... How To Fill Out Most Favored Customer Clause? · Be sure the document meets all the necessary state requirements. · If available preview it and read the ...By KJ Crocker · 1994 · Cited by 99 ? A COMMON feature of many long-term contracts is the provision of a price guarantee through the use of a most-favored-nation clause (MFN). The contract provision known as the most favored nations (?MFN?) clause is a promise obtained by a buyer from a seller that the seller will not ... Although MFN clauses originated with international trade agreements,The debate over the antitrust implications of most-favored-nation ... Price Reduction Clause. Commonly referred to as the ?Most Favored Customer? regulation, Victura leverages our regulatory expertise, practical business sense, ... Most Favored Customer Status: ?Priority allocation status given ? for Materials which are in short supply.? Force Majeure Clauses: ?Seller shall ... To cover its costs in running the FSS program, VA charges its customers a2 Most favored customer pricing refers to the vendor's best price based on the ... Offer clause" or "meet or release clause") gives a contracting party. A (generally a buyer) the right to rely as against the other contracting party. B (the ... best prices vendors provide to their most favored customers; and a price reduction clause that provides the government a lower price if a ...
