This Master Purchase Agreement is between NYsweets LLC, acting under its applicable New York cannabis license ("Seller"), and the licensed adult-use retailer named in the portal account ("Buyer"). Each order the Buyer submits and signs in the portal is a written contract for that transaction under these terms.
Pricing
- All prices come from Seller's single published wholesale price list, which applies equally to every licensed purchaser. Volume pricing tiers are published and available to every licensed purchaser on the same terms.
- Seller offers no rebates, free goods, bundles, slotting, shelf-placement or category-management arrangements, loans, or other inducements. The only discount Seller may offer is a discount of not more than one percent (1%) for payment within ten (10) days of shipment, when shown on the invoice.
- No order is conditioned on purchasing any other product, and nothing in this agreement requires exclusivity.
Payment
- Terms are cash on delivery (COD) or, if approved for the Buyer's account, net thirty (30) days from delivery. "Cash" includes electronic funds transfer, certified check, money order, or a check drawn on the Buyer's own account. Third-party and post-dated checks are not accepted.
- Seller will not extend credit to a Buyer listed on the Office of Cannabis Management's cash-on-delivery list. Delinquent payments are reported to the Office as required.
Taxes
Where Seller sells as a licensed distributor, Seller pays the New York adult-use cannabis distributor tax on the sale as shown on the invoice. Adult-use cannabis products are exempt from New York sales tax.
Delivery, title and acceptance
- Products are transferred through New York's seed-to-sale tracking system (Metrc) with a transport manifest and the certificate of analysis for each package. Buyer verifies the delivery against the manifest at receipt.
- Title and risk pass to Buyer when Buyer accepts the transfer. Rejected quantities and variances are handled in Metrc, and Seller issues a credit for any rejected quantity.
Compliance
Each party will hold all required licenses and registrations (including the Buyer's New York adult-use cannabis Certificate of Registration with the Department of Taxation and Finance), comply with the Cannabis Law and 9 NYCRR, and keep records of these transactions for at least five years. Neither party holds any interest in the other.
General
New York law governs. This agreement, the published price list and the signed order are the entire agreement for each transaction.