When it comes to running a successful business, having a reliable supplier is crucial. However, it`s equally important to have a clear agreement between your company and your supplier to avoid any confusion in the future. Here is a sample agreement between a company and a supplier that you can use as a reference:
1. Parties Involved
This agreement is between [Company Name] (hereinafter referred to as “Company”), a corporation organized and existing under the laws of [State/Country], and [Supplier Name] (hereinafter referred to as “Supplier”), a corporation organized and existing under the laws of [State/Country].
2. Scope of Agreement
This agreement outlines the terms and conditions upon which the Company agrees to purchase goods from the Supplier. It covers the quality, quantity, delivery, and price of the goods as well as any other terms and conditions that the parties agree upon.
3. Goods and Services
The Supplier shall provide the Company with the following goods and services:
[List of goods and/or services provided by the Supplier]
4. Price and Payment
The price of the goods and services shall be as follows:
[List the price of each item and the payment method]
Payment shall be made within [Number of days] days of receipt of an invoice from the Supplier.
5. Delivery
The Supplier shall deliver the goods to the Company in accordance with the delivery schedule agreed upon by the parties. The Company shall provide the Supplier with reasonable notice of any changes to the delivery schedule. The Company shall be responsible for all shipping and handling charges.
6. Quality Control
The Supplier shall ensure that all goods provided under this agreement are of good quality and free from any defects. The Company may inspect the goods at any time and reject any goods that do not meet the required quality standards.
7. Term and Termination
This agreement shall commence on [Start Date] and shall continue until terminated by either party upon [Notice Period] days` written notice. Either party may terminate this agreement immediately for cause, including but not limited to breach of contract, insolvency, or bankruptcy.
8. Confidentiality
The parties agree to keep all information related to this agreement confidential and not to disclose it to any third party without the other party`s prior written consent.
9. Governing Law and Dispute Resolution
This agreement shall be governed by and construed in accordance with the laws of [State/Country]. Any dispute arising out of or in connection with this agreement shall be resolved through mediation or arbitration in accordance with the rules of the American Arbitration Association.
10. Entire Agreement
This agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral.
By signing below, the parties acknowledge that they have read and understood the terms and conditions of this agreement and agree to be bound by them.
[Signature of Company Representative] [Date]
[Signature of Supplier Representative] [Date]
In conclusion, having a well-drafted agreement between your company and supplier can save you from potential legal troubles down the road. Be sure to have a copy editor review your agreement to ensure that it is clear, concise, and free from any errors that could potentially harm you later.
