Define: Net Purchase

How is Net Purchase defined in a legal contract?

• Net Purchase means the buying of goods or services made by an authorized individual, which takes into account the adjustments to their credit card account. This does not include earning rewards, cash advance and balance transfer transactions, purchase of cash equivalents, unauthorized charges and various fees charged to the credit card account.
  Seen in 14 SEC filings
• Net Purchase means the full amount charged to a credit card account for the purchase of goods or services, including any tax, minus any credits.
  Seen in 4 SEC filings
• Net Purchase means points earned calculated on purchases charged to an account, minus returns, interest, fees, and adjustments.
  Seen in 3 SEC filings
• Net Purchase means purchases charged to the account minus returns, interest, fees, and adjustments.
  Seen in 2 SEC filings
• Net Purchase means the dollar value of goods and services bought, with reductions for credits, returns or other adjustments reflected on the account statement.
  Seen in 2 SEC filings
• Net Purchase means amount charged to an account for a purchase of goods or services, excluding cash advances, interest charges, fees, adjustments, and for specific account type only, any amount charged once the maximum credit earned for the year has been reached.
  Seen in 2 SEC filings
• Net Purchase means the value of applicable goods purchased by a retailer, net of all returns, rebates, allowances and all credits and adjustments, issued during a certain period. This calculation will exclude specific items.
  Seen in 1 SEC filing

Please note, the above definitions suit for formulating a legal contact or document. The specifics of each definition may differ based on the relevant documents it is based on. It is recommended to consider the specific context of use before implementing these definitions.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of net purchase’ yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Use Cases For Definition 1 and Definition 2

• Net Purchase means charges for bought goods or services, after credits and adjustments, not inclusive of charges like fees and interest.

• Net Purchase means the earned points computed on account charges, excluding returns, fees, interest, and adjustments.

Relevant Contract Types

• Credit Card Agreement
• Sales Agreement
• Purchase Order Contract
• Supply Agreement
• Retailer Agreement

Relevant Circumstances

• When a business or individual is purchasing goods or services
• Situations involving the use of a credit card account
• Transactions where rewards or points are earned based on purchases
• Any occasion when returns, credits, and adjustments can impact the total purchase amount

Relevant Sectors

• Retail
• E-commerce
• Banking and Finance
• Supply Chain
• B2B Marketing

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