Puerto Rico Most Favored Customer Clause

State:
Multi-State
Control #:
US-IP1019
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Word; 
PDF; 
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Description

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.

How to fill out Most Favored Customer Clause?

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FAQ

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.

The most favoured nation (MFN) principle is based on the idea that countries should treat all their trade partners equallythat no one country should be more favoured. It means no country should give special treatment to goods or services coming from one particular trading partner.

Most favoured nation status is given to an international trade partner to ensure non-discriminatory trade between all partner countries of the WTO. A country which provides MFN status to another country has to provide concessions, privileges, and immunity in trade agreements.

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.

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.

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.

The most favored nation clause is a term that is given to a certain country, and it implies that the recipient of the favorable treatment must receive equal trade advantages as the most favored nation of a country's trade policy.

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).

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Puerto Rico Most Favored Customer Clause