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This document outlines an agreement between a seller and a buyer for the supply and purchase of products. The agreement defines the terms Delivery Date, Products, and Price. The seller agrees to apply the appropriate labelling for packaging to the products as requested by the buyer and will make available all written materials used in the marketing and sale of the products. The seller will use their best endeavours to deliver the products to the agreed location and maintain sufficient stocks of the products to fulfil the agreement. Invoices will be issued and payment made in the currency nominated by the seller within the specified period. The agreement also includes warranties, inspection rights, and termination provisions for either party in case of default in the performance of any material obligation assumed under this agreement.
The seller will deliver the products to the agreed location, and the buyer shall have a reasonable opportunity to inspect the products to determine whether they conform to the requirements of the agreement. The buyer may return the products to the seller with a report on the defect no later than four weeks after delivery, and the seller undertakes to replace any defective product. The agreement can be terminated by either party if an Event of Default occurs or if the other party goes into liquidation or ceases to carry on business.
In conclusion, this agreement outlines the responsibilities of both the seller and the buyer in the supply and purchase of products. It provides terms and conditions for delivery, payment, warranties, and termination of the agreement. The agreement aims to ensure that the seller delivers quality products, and the buyer pays for them within the specified period.
If you need to purchase or sell a product, you can use this agreement as a legally binding contract between the parties. To use this document properly, follow the steps below:
1. Identify the parties: This agreement is made between the Seller (Party 1) and the Buyer (Party 2). Make sure you have the correct names and addresses of the parties involved.
2. Understand the definitions: Definitions are provided in this agreement to ensure that both parties are on the same page. Be sure to understand the meanings of the terms used, such as Delivery Date, Products, and Price.
3. Agree on supply and purchase: The Seller agrees to sell and the Buyer agrees to purchase the Products described in the agreement. The parties also agree to appropriate labelling and written materials, and the Seller agrees to fulfil its obligations in the normal course.
4. Delivery: The Seller agrees to deliver the Products to the place specified, and the Buyer takes ownership upon delivery to the carrier. The Seller will send shipping information to the Buyer, and the Seller is responsible for packaging, shipping, and safe delivery.
5. Payment: Invoices are issued and dated by the Seller on shipment, and payment is due within a specified number of days from the date of the invoice. Payment must be made by credit transfer in the specified currency.
6. Product availability: The Seller agrees to maintain sufficient stocks of the Products to fulfil its obligations.
7. Term and termination: The agreement may be terminated if either party defaults, if specified conditions occur, or by mutual agreement. Termination does not prejudice other rights or remedies, and after termination, neither party has further obligations to the other.
8. Warranties: The Seller warrants that the Products delivered will be free of substantive defects in material and workmanship, and the Buyer has the right to inspect the Products upon receipt to determine conformity to the agreement.
Using this agreement can ensure that both parties are aware of their rights and responsibilities in the purchase and sale of the Products. By following these steps, you can use this document effectively and avoid any potential disputes or misunderstandings.