2005 Idaho Code - 28-23-101 — REPURCHASE OF FARM MACHINERY, IMPLEMENTS, ATTACHMENTS, ACCESSORIES AND PARTS UPON TERMINATION OF CONTRACT AND OBLIGATION TO REPURCHASE

                                  TITLE  28
                           COMMERCIAL TRANSACTIONS
                                  CHAPTER 23
                      REPURCHASE OF FARM MACHINERY UPON
                           TERMINATION OF CONTRACT
    28-23-101.  REPURCHASE OF FARM MACHINERY, IMPLEMENTS, ATTACHMENTS,
ACCESSORIES AND PARTS UPON TERMINATION OF CONTRACT AND OBLIGATION TO
REPURCHASE. Whenever any person, firm, or corporation engaged in the business
of selling and retailing farm implements and repair parts for farm implements
enters into a written or parol contract, sales agreement or security agreement
whereby the retailer agrees with any wholesaler, manufacturer, or distributor
of farm implements, machinery, attachments, accessories or repair parts to
maintain a stock of parts which may include, but is not limited to, complete
or whole machines, attachments, or demonstration and rental equipment and
thereafter the written or parol contract, sales agreement or security
agreement is terminated, canceled or discontinued, then the wholesaler,
manufacturer, or distributor shall pay to the retailer or credit to the
retailer's account, if the retailer has outstanding any sums owing the
wholesaler, manufacturer, or distributor, unless the retailer should desire
and has a contractual right to keep such merchandise, a sum equal to one
hundred percent (100%) of the net cost of all unused complete farm implements,
machinery and repair parts and stock of parts, attachments in new condition
which have been purchased by the retailer from the wholesaler, manufacturer or
distributor within the thirty-six (36) months immediately preceding
notification by either party of intent to cancel or discontinue the contract,
including the transportation charges to the retailer. The payment or credit
for demonstration or rental equipment that has not been retailed to an end
user is a sum equal to the depreciated value of the equipment to which the
supplier and the retailer have agreed. The wholesaler, manufacturer, or
distributor shall pay to the retailer a reasonable reimbursement for services
performed in connection with the assembly and predelivery inspections of the
farm equipment and attachments. The supplier assumes ownership of farm
implements, machinery and repair parts and stock FOB the dealer location.
    A supplier must repurchase any specific data processing hardware,
software, telecommunications equipment and computer communications hardware
specifically required by the supplier to meet the supplier's minimum
requirements and purchased by the dealer in the prior five (5) years and held
by the dealer on the date of termination. The purchase price is the original
net cost to the dealer, less twenty percent (20%) per year.