Notice Details

NYC Tourism + Conventions, Inc., on behalf of the New York City Department of Small Business Services (“SBS”) has awarded a Sole Source License Agreement (“License”), pursuant to Section 1-16 of the Concession Rules of the City of New York, to Daron Worldwide Trading, LLC (“Licensee”) whose address is 24 Stewart Place, Unit 4, Fairfield, NJ 07004, for the non-exclusive use of City-owned trademarks on merchandise. The Agreement shall commence January 1, 2024, and continue through December 31, 2026, unless sooner terminated pursuant to the terms and conditions of the License. During each year of the term, Licensee shall pay to New York City Tourism+ Conventions the greater of: A royalty rate equal to ten percent (10%) of net sales of licensed products, OR, a guaranteed minimum of sixty-five thousand dollars ($65,000). The parties have the option of renewing the license agreement on the same mutually agreed[1]upon terms and conditions for a period of two (2) years, through December 31, 2028.