11th ACVVC VENDOR POLICY
Adopted by Unanimous Vote of the 11thACVVC Officers and Directors
July 18, 2005
In accordance with the By-Laws, Certificate of Incorporation, and Constitution of the 11th Armored Cavalry’s Veterans of Vietnam and Cambodia (11thACVVC), this policy guidance is provided for the display and sale of memorabilia and other items by and for the 11thACVVC.
1. The 11thACVVC Quartermaster (QM) is the only individual authorized to offer items for sale directly to members of the 11thACVVC through the quarterly newsletter, “Thunder Run”, in the QM Store established during annual reunions, or at other venues, which may be established from time to time in support of 11thACVVC activities. The QM may designate alternates to operate the QM Store if he is unable to attend authorized functions in person.
2. The 11thACVVC will offer items from QM inventory as well as “on consignment” when the decision is made to not purchase an authorized item for stock.
3. The 11thACVVC Board of Directors (BOD) consisting of elected Officers and Directors, with the advice of the QM, will approve products and services for sale from stock and/or on consignment. Whenever possible members of the 11thACVVC will be given first consideration for supplying products for QM sale. Products must be quality items as determined by the BOD and QM and must contribute to the stated purposes of the organization, i.e. enhance the welfare and morale of the members of the 11thACVVC. The qualification of any product will be as determined by the BOD and QM. Products offered for sale must meet criteria of unit identity to ensure continued tax-exempt status of the 11thACVVC.
4. Vendors may apply to the 11ACVVC Board of Directors for approval to offer products to the 11ACVVC membership subject to these conditions:
a) All Vendors and products must be approved by the 11ACVVC Board of Directors and Quartermaster prior to being offered for sale.
b) Approved products may only be sold through the Quartermaster.
5. Products must:
a) Commemorate the Blackhorse Regiment, or
b) Promote unit esprit de corps, or
c) Show pride of military service or patriotism, or
d) Be of a historical nature to preserve the legacy of the Blackhorse Regiment in Vietnam. Product need not have to show a Blackhorse patch or symbol to meet these criteria, and do not need to be exclusively 11th Armored Cavalry Regiment (ACR) for approval, although such content (Vietnam and 11thACR) should be included.
6. Sample products submitted to the 11ACVVC Board of Directors and Quartermaster for approval must include:
a) Competitive suggested retail pricing
b) Wholesale pricing (cost) for the 11ACVVC Quartermaster
7. Approved products may be offered for sale in the Quartermaster Store at annual
11ACVVC Reunions, the “Thunder Run”, or other venues that may be approved by
the BOD.
a) Products not acquired and stocked by the QM may be sold on a “consignment” basis.
b) Vendor is responsible for all shipping and packaging of products for sale to and from the 11ACVVC Quartermaster Store, the reunion site or the QM’s permanent location.
c) Vendor will provide one “hands-on” display sample of each item without charge to the 11ACVVC for the 11ACVVC Quartermaster Store to display in the store.
d) The Quartermaster will display the Vendor’s product at the Reunion Quartermaster Store.
e) The Quartermaster will secure inventory left in the Store for sale by Vendor.
f) Vendors will not be permitted to set up booths at reunions outside the Quartermaster Store.
g) Products stolen or damaged while in the possession of the Quartermaster or his designated alternate will be the responsibility of the 11ACVVC.
h) Vendor will provide an inventory of the product to the Quartermaster.
i) For items on “consignment”, the Quartermaster will complete the Opening VENDOR INVENTORY AND REVENUE FORM to be signed by the Quartermaster and the Vendor at the reunion site. This form [1] verifies receipt of the stated number and type of products from each Vendor, and [2] confirms the retail and wholesale pricing approved by the Board to determine the potential Vendor revenue and Quartermaster Store “margin”.
j) The “margin” is 11ACVVC Quartermaster Store revenue, and the remaining balance is the Vendor’s revenue. Example: Retail price of “Widget” is $25.00. 11ACVVC wholesale price for the “Widget” is $19.00. $25.00 - $19.00 = $6.00 “Margin”.
k) At the end of the Reunion, for items on “consignment”, Quartermaster will complete a Closing VENDOR INVENTORY AND REVENUE FORM.
l) Any remaining consigned Vendor products will be returned to the Vendor. A copy of this Closing VENDOR INVENTORY AND REVENUE FORM will be signed and dated by both the Quartermaster and Vendor. The Quartermaster will provide a copy of the form to the 11ACVVC Treasurer.
m) The Vendor and Quartermaster revenue will be calculated on the form. For a sample of a completed form, see completed VENDOR INVENTORY AND REVENUE FORM on the next page using the following assumptions:
1) Quartermaster signed for 50 each of 11th Cav Widgets on the Opening VENDOR INVENTORY AND REVENUE FORM.
2) 15 Widgets remain at end of reunion.
3) 35 XYZ products are considered sold (50 – 15).
4) Quartermaster returns the 15 remaining XYZ to the Vendor.
5) Quartermaster Store Margin is $6.00 per Widget.
8. Occasionally a good selling product may be purchased and inventoried by the Quartermaster for resale on the 11ACVVC website Quartermaster Store or in THUNDER RUN. In this situation, the quantity purchased for inventory will be determined jointly by Quartermaster and Board of Directors for each Vendor product. A primary consideration on inventory purchases will be to maintain as small of an inventory as possible to handle sales the Quartermaster reasonably expects during the following three to six months.
9. The Board of Directors may or may not, as situations warrant, establish a committee to act on its behalf with regards to specific Quartermaster issues.
On following pages:
a) Sample of completed VENDOR INVENTORY AND REVENUE FORM
b) Blank copy of VENDOR INVENTORY AND REVENUE FORM for reproduction