BUY-BACK CLAUSE

BUY-BACK CLAUSE

buy-back clause.

1. Contracts. A provision that requires a manufacturer or franchiser to buy back inventory and equipment if the distributor or franchisee’s contract is terminated prematurely.

2. Contracts. A clause allowing the seller of property the right or opportunity to repurchase the property under stated conditions.

3. Insurance. An insurance-policy clause that provides for the reinstatement of coverage that the insurer excludes or cancels if the insured meets certain conditions. ? For instance, buy-back clauses are often used to reinstate some of the coverage taken away under pollution-exclusion clauses.


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