A Puerto Rico Value Added Reseller Agreement is a legal contract entered into by a company (the "Vendor") and a reseller (the "Reseller"), based in Puerto Rico, for the distribution and sale of products or services. This agreement outlines the terms and conditions of the partnership, defining the roles, obligations, and responsibilities of each party involved. Keywords: Puerto Rico, Value Added Reseller Agreement, legal contract, Vendor, Reseller, distribution, sale, products, services, partnership, roles, obligations, responsibilities. There are several types of Puerto Rico Value Added Reseller Agreements, including: 1. Exclusive Reseller Agreement: This type of agreement grants the Reseller the exclusive right to distribute and sell the Vendor's products or services within a specific geographic location or market segment in Puerto Rico. The Vendor agrees not to appoint any other resellers or compete with the Reseller within the designated territory. 2. Non-Exclusive Reseller Agreement: In this scenario, the Vendor can appoint multiple resellers in Puerto Rico to distribute and sell their products or services. The Reseller holds no exclusivity rights, allowing the Vendor to appoint additional resellers at any given time. 3. Limited Reseller Agreement: This type of agreement establishes specific limitations on the Reseller's rights, such as selling only certain product lines or targeting a particular customer segment. The Vendor retains the flexibility to appoint other resellers or distribute its products independently in Puerto Rico. 4. Value-Added Service Reseller Agreement: This agreement allows the Reseller to enhance the Vendor's products or services by providing additional value-added services. These services may include installation, customization, training, technical support, or maintenance related to the Vendor's offerings in Puerto Rico. 5. OEM (Original Equipment Manufacturer) Reseller Agreement: This type of agreement allows the Reseller to purchase the Vendor's products or services and incorporate them into their own products or solutions for resale in Puerto Rico. The Reseller acts as a manufacturer using the Vendor's offerings as components rather than selling them as standalone products. In conclusion, a Puerto Rico Value Added Reseller Agreement is a contractual arrangement between a Vendor and a Reseller based in Puerto Rico, governing the distribution and sale of products or services. The agreement can be exclusive, non-exclusive, limited, value-added service-oriented, or focused on OEM arrangements.
Puerto Rico Value Added Reseller Agreement
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How to fill out Value Added Reseller Agreement?
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The Puerto Rico Sales and Use Tax (SUT, Spanish: Impuesto a las Ventas y Uso, IVU) is the combined sales and use tax applied to most sales in Puerto Rico. The Sales Tax is the amount that the consumer pays when buying items, services or when attending an entertainment venue, be it sports, recreation or exhibition.
A Value Added Reseller, or VAR, is similar to a reseller, except that it will package your product with others to add value. Instead of reselling your program as a standalone product, a VAR will combine your program with certain other complementary products.
The Puerto Rico Sales and Use Tax, or the "Impuesto a las Ventas y Uso (IVU)" in Spanish, consists of a 10.5% commonwealth-wide sales and use tax and a 1% local-option sales tax that is distributed to the city in which it is collected.
A reseller agreement can mean something different depending on who you ask. Typically, these are agreements where a vendor contracts with a reseller to allow them to sell the vendor's product or services to a third-party. There is the potential for misunderstandings if the wrong terms are included in the agreement.
added reseller is a firm that enhances the value of thirdparty products by adding customized products or services for resale to endusers.
A VAR, or value-added reseller, is a business entity that adds features or services to an existing third-party product and then resells the same as an integrated customized product to the end-user or consumer.
If you present a valid Puerto Rico resale certificate to your vendor, you won't be required to pay sales tax on that purchase, since you are purchasing for resale. You can also use a resale certificate to avoid paying sales tax if you are buying equipment used in manufacturing or ingredients in an item for resale.
According to the Tax Foundation - a group of experts based in Washington, D.C. and whose purpose is to monitor the tax and expenditure policy of government agencies - the 11.5 percent IVU on the island is the highest in the United States, followed by Tennessee, Arkansas, Alabama, Louisiana, Washington, Oklahoma, New
2022 A program designed to improve sales tax collection oversight through direct citizen participation under the Government of Puerto Rico's Sales and Use Tax Law. 2022 It requires businesses to issue a receipt with an imprinted IVU Loto number upon reporting sales and the IVU charged.
Examples of common value-added resellers (also known as VARs) are computer retailers and service companies, automobile dealerships, and furniture stores.