Define: Net Sales Value
the invoiced price of a Licensed Product sold at arm's length or, where the sale is not at arm's length, the price that would have been invoiced if the sale had been at arm's length, after deducting:normal trade discount
the invoiced price of a Licensed Product sold at arm's length or, where the sale is not at arm's length, the price that would have been invoiced if the sale had been at arm's length, after deducting:normal trade discounts and credits given;the costs of carriage, insurance, freight and packaging if charged separately to the customer; andimport duties and sales taxes actually paid by the Licensee or its sub-licensee;.
Relevant Circumstances
- When royalties under a licence are calculated on net of permitted deductions
- If non-arm's length sales need to be adjusted to arm's-length equivalents
- Where discounts, freight, insurance and import duties reduce the royalty base