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.
New York Most Favored Customer Clause
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US-IP1019
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FAQ
Yes, most favored customer clauses are legally binding once they are included in a contract. This means that both parties are obligated to adhere to the terms outlined in the agreement. If one party fails to comply, the other may pursue legal action for breach of contract. To effectively implement a New York Most Favored Customer Clause, consider using resources like USLegalForms to ensure your contracts are clear and enforceable.
favoredcustomer clause is a provision in a contract that grants one party the best terms available to any other customer. This means that if a supplier offers better rates or terms to others, the party with the clause is entitled to those same benefits. By utilizing the New York Most Favored Customer Clause, businesses can secure advantageous agreements and foster better relationships with suppliers.
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.
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.
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-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).
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.
Most-Favored-Nation Clause Explained For example, if a country belonging to the WTO reduces or eliminates a tariff on a particular product for one trading partner, the treaty's MFN clause obligates it to extend the same treatment to all members of the organization.
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.
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.
