Master Purchase / Supply Agreement for the purchase of goods / product to provide a framework for individual sale and purchase transactions. This form is drafted in favour of the Buyer / Purchaser.
The Buyer desires to purchase Goods from the Seller, and Seller desires to sell Goods to the Buyer pursuant to the terms and conditions set forth in this Agreement. These terms and conditions shall apply to all orders or requests for Goods issued by the Buyer in response to which the Seller provides the Goods to the Buyer to the exclusion of any other terms and conditions. Any reference overleaf to the Seller’s quotation, specification, price list or like document shall be solely for the purpose of describing the Goods to be supplied and no terms and conditions endorsed upon, delivered with or referred to in such application to the Agreement.
The Buyer shall not be deemed to have accepted the Goods until it has a reasonable time to inspect them following delivery or collection as the case may be. The Buyer shall also have the right to reject the Goods as though they had not been accepted for a reasonable time after any latent defect in the Goods has become apparent. Where the Seller is not the manufacturer of the Goods, the Seller shall endeavour to transfer to the Buyer the benefit of any warranty or guarantee given to the Seller.
Risk of damage to or loss of the Goods shall pass to the Buyer upon the Buyer takes physical possession of the Goods in accordance with the Contract. The property in the Goods shall pass to the Buyer upon delivery, unless payment for the Goods has been agreed to be made prior to delivery, when it shall pass to the Buyer once payment has been made and the Goods have been appropriated to the Contract.
This document should be carefully read by the Buyer and the Seller.
Both parties should sign and return a copy, and once signed, both parties should get a copy.
All terms and conditions regarding the sale of the specific vehicle should all be clearly stated in the sale agreement.
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4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.
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