Overcharge


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Overcharge

To assess a buyer too much for a product. For example, one may sell a cheap television worth $200 for $500. Because pricing is somewhat subjective, it can be difficult to determine when someone has been overcharged.
References in periodicals archive ?
Thus, there could be a difference of hundreds of millions of dollars between how much it did overcharge, and how much it might have overcharged.
The National Motor Freight Classification (NMFC) includes a sample overcharge claim form titled, "Standard Form for Presentation of Overcharge Claim." A Bond of Indemnity is included in the form and must be filled out and signed if the claimant submits a copy of the original paid freight bill.
"There could be as much as pounds 4billion in overcharges owed by banks to business customers," he said.
Regardless of the block, Bedell spent the firstpart of 1984 working very hard at introducing spare parts amendments and educating his colleagues as to the outrageousness of parts overcharges, the Gould contract being his main example.
Pursuant to a 1997 enactment, the New York State Legislature amended the Rent Stabilization Law to provide that "no determination of an overcharge and no award or calculation of an award of the amount of an overcharge" could be based upon an overcharge having occurred more than four years before the complaint is filed.
The overcharge unit has also been divided into three sections, with two sections processing the old cases and one section dedicated to processing new forms.
As yet further evidence of the State's new mind-set, the Division announced a new equitable policy on service reduction claims and revoked a prior draconian policy pertaining to overcharges. As to the former, DHCR has declared that de minimis (minor) service items (both individual apartment and building-wide) will no longer be found to constitute actionable reductions in services or the basis for rent reductions.
A buyer's liability rises significantly via the Rent Stabilization Code's mandate that a post April 1, 1984 -- purchase will, in general, make the buyer liable not only for the buyer's prospective overcharges, but also for the seller's past misdeeds.
LAHORE -- Transporters will not be allowed to overcharge from passengers.
A recent policy change by the Division of Housing and Community Renewal requires owners to deposit rent overcharge awards in a state-held escrow account if the tenant disappears.
Since this rent was never actually charged, he warned, "If you spend $50,000 to get the 1/40, be aware of the pitfalls." The owner might get hit with an overcharge and be assessed treble damages.