Licensees - Obligations and Responsibilities

Item Sample Approval

All designs to be used on any product must be approved prior to manufacture. Licensees are required to provide the Licensing Board, for its approval, one free representative sample of each item to be manufactured under license, or alternatively, with prior consent, a full colour picture of the item. Items must be submitted using the item sample approval request form, a copy of which is attached as an appendix to the trademark license agreement.

Royalty Advance

Licensees are required to pay a deposit against future royalty payments.

Royalty Payments

Royalties are due quarterly on the dates specified below, using the report form.

Quarter Payment Due
 January - March  April 15
 April - June  July 15
 July - September  October 15
 October - December  January 15

Other terms of payment are specified in the trademark license agreement.

Indemnification

Licensees are required to indemnify York University against any damages or expenses arising out of the use of a defective product and must have, and provide proof of, product liability insurance in an appropriate amount for the duration of the trademark license agreement.

Compliance Reviews/Audits

The University reserves its right to review the accounts of licensees and require an audit.