38Agreed early termination

38 Agreed early termination

(1) This clause applies if a retailer and supplier agree to terminate a fuel re‑selling agreement before the agreement expires. (2) The supplier must: (a) notify the retailer that: (i) the retailer has rights under the fuel re‑selling agreement; and (ii) the supplier will negotiate arrangements to terminate those rights by consent; and (iii) the retailer should seek financial and legal advice about any offer made by the supplier; and (b) offer to pay costs relating to the termination of the fuel re‑selling agreement, including (subject to the terms of the fuel re‑selling agreement) a proportional refund, for the remaining period of the fuel re‑selling agreement, of any fee paid to the supplier when the retailer entered into the fuel re‑selling agreement; and (c) offer to buy, or nominate a purchaser of, a reasonable quantity of saleable stocks of motor fuel supplied by the supplier to the retailer, at a price: (i) that is agreed between the supplier and the retailer; or (ii) if the supplier and the retailer are unable to agree on a price—that is determined by a valuer agreed to by the supplier and the retailer; and (d) offer to buy, or nominate a purchaser of, a reasonable quantity of saleable stocks of merchandise which the retailer has obtained under the supplier’s franchise or operational specifications (if any), or obtained with the supplier’s approval during the term of the fuel re‑selling agreement, at a price: (i) that is agreed between the supplier and the retailer; or (ii) if the supplier and the retailer are unable to agree on a price—that is determined by a valuer agreed to by the supplier and the retailer; and (e) offer to buy, or nominate a purchaser of, equipment which the retailer has obtained under the supplier’s business or operational specifications, (if any) or obtained with the supplier’s approval during the term of the fuel re‑selling agreement for use in the fuel re‑selling business, at a price: (i) that is agreed between the supplier and the retailer; or (ii) if the supplier and the retailer are unable to agree on a price—that is determined by valuation carried out by a valuer agreed to by the supplier and the retailer, in accordance with valuation principles disclosed to the retailer before the equipment was obtained. (3) Subject to any agreement with the supplier, the retailer must use reasonable efforts to sell the stock and equipment mentioned in paragraphs (2)(c), (d) and (e). (4) Part 4 applies to a dispute about compensation arising from the termination of a fuel re‑selling agreement under this clause.