Electronic Payment Agreement: Fill & Download for Free

Walmart has reached a special place in the retail universe. Here is how it works: a manufacturer sells a product to Walmart. As a part of the sales agreement, the seller of the goods agrees to:have the product available at several regional locationsallow Walmart to arrange for the pick up either on a Walmart truck or a third party contracted to Walmart.Seller pays for the freight within a week of the pick up dates,the seller is required to provide a specific pallet , which Walmart just happens to sell, should you want to buy them…Walmart then turns the product through their warehouses as fast as they can, often hours between the warehouse and the sales floor.The seller guarantees a certain volume in a set period of time. If that volume is not achieved, the selling price drops to a negotiated second tier price to attempt to reach the agreed to volume.The seller agrees to fund all product returns at Walmart’s full retail cost, without retrieving the goods. Walmart sells store returns by class by weight.Walmart only pays for The goods after they have sold at retail. The seller purchases the daily scan data to verify volume, returns to determine the final invoice amount.Seller agrees to accept payment from Walmart only on net good sales, minus returns.seller pays Walmart for freight from their business to the Walmart distribution center.Seller agrees to, at their cost, purchase scan data to track sales and supply replenishment stock without any intervention from Walmart staff, and further agree to “ out of stock” standards based on sales volume. There is a one year run in period available for a fee for stock replenishment with zero out of stock penalty. So, Walmart doesn’t order products. They supply scan data that reports sales and standing stock, but a vendor has to pay for that information.Walmart automatically submits a settlement statement and electronic payment to the seller every thirty days for the previous 30 day selling cycle. So May is paid in July.In many cases, the seller also pays Walmart for premium display locations as well. All sellers pay to be in the sales flyers, and periodically contribute to a promotions fund.So. Walmart has zero investment in a large percentage of the goods sold in their stores.For the things they pay for on trade terms, like soft drinks, alcohol , and other guaranteed sales or product is removed or replaced DSD items, DSD vendors pay into a promotions fund that about equals Walmarts floor stock investment.It’s-a little like a consignment business. The seller assumes all the risk. Walmart, as the seller, doesn’t have to earn a return on cash tied up in goods to offer for sale. This vastly lowers their selling cost. They entice product suppliers precisely because they do not mark up goods to cover the return on investment for funds tied up in inventory , labor for stock taking and ordering, and other inventory maintenance costs.There is a saying among Walmart merchants” when a new store opens, we are starting with enough cash in hand from promotional fees to cover payroll for a month”

Hey there Captain,The last time I checked, the only form of payment anyone is legally required to accept is the legal currency of where you are.Credit cards, electronic payments like phone apps, checks (cheques) are not required acceptable under a country’s law. Why? Because it costs** the merchant money every time a credit card or electronic payment is used, and checks are just promissory notes that may or may not be good.However, if the restaurant advertises with decals on door, mentions methods of payment on the menu, etc,… they have locked themselves into an informal “contract”/agreement with you. You get a meal and can pay for it using the methods they advertise. They did entice you into their store by promising to accept payment in a certain manner.(What get’s my goat is that if you pay the restaurant cash they get an unearned profit of 2.2% The Complete Guide to Credit Card Processing Fees & Rates, plus fees like PCI, and never offer you a discount. Back to the question.)If they break the agreement, I recommend you call the police or tell them to.Now if you are trying to pay with pennies or coins, the Coinage Act of 1965 https://www.gpo.gov/fdsys/pkg/STATUTE-79/pdf/STATUTE-79-Pg254.pdf specifies that all U.S. coins are legal tender in any amount, with this limitation: private businesses are still free to specify which forms of legal tender they will accept. So don’t try to get a free meal by showing up with bags of coin (unless of course, the restaurant agrees in advance to accept your coins)Bon appetit Capt.PS ** Quora has addressed:How much do popular card companies, like Visa and MasterCard, charge merchants for a debit card transaction? How about a credit card transaction? What is an estimate of the percentage cost for USD 1–500?Gary Yamamura's answer to What is the average cost of a debit card transaction in the US for both Regulated and Un-Regulated banks?Gary Yamamura's answer to What is the interchange % earned by issuing banks for both card not present and card present transactions?Gary Yamamura's answer to Have US interchange fees been set for the US yet by MasterCard/Visa? Say I purchase an EMV terminal and I run credit cards/debit cards by using the chip, do we know what the interchange fee would be here yet?

Read your lease, it will list acceptable payment methods.For those suggesting electronic payment methods…If your management company/landlord is sane at all, it will be a cold day in hell before they accept any form of electronic payment, as others have suggested.If I’m trying to evict you, and I accept a rental payment during this period, it nullifies the eviction proceedings in California Superior Court.If I’m trying to charge you a fee, such as to replace the built-in microwave oven that your 5 year old filled with forks and blew up, and I accept partial payment — rent, without the fee — I’ve tacitly forgiven the fee in California Superior Court.If I raise your rent, and you pay the old rent instead, and I accept it, it’s a tacit agreement that the rent has not gone up in California Superior Court.Why does this matter?Because with an electronic payment, I can’t refuse payment!If you want to set up automatic payments, go into your electronic banking, and have them cut me a check each month.Generally speaking, they will accept mailed checks.But if they want checks delivered to the office, there’s usually an “after hours slot; just walk over after the snippy office staff have left.Otherwise, talk to the accountant; they’re the ones that deposit the checks and balance the books anyway; they are the ones who matter, not the snippy front office weenies.