Sample Format and Draft of a Supply Contract

 Sample Format and Draft of a Supply Contract

SUPPLY AGREEMENT
This Supply Agreement (hereinafter referred to as the "Agreement") is made and entered into on this ___ day of _______, 20, by and between:

1. Parties
Supplier: [Name of the Supplier], having its principal place of business at [Address], (hereinafter referred to as the "Supplier").
Buyer: [Name of the Buyer], having its principal place of business at [Address], (hereinafter referred to as the "Buyer").

2. Scope of Agreement
The Supplier agrees to supply and the Buyer agrees to purchase the goods/products as outlined in Schedule A attached hereto under the terms and conditions set forth below.

3. Term and Renewal
This Agreement shall commence on [Start Date] and shall remain in force for [Initial Term]. The Agreement may be renewed for additional terms upon mutual written agreement of both parties.

4. Price and Payment Terms

• Price: The price of the goods shall be as per Schedule A.
• Payment Terms: Payments shall be made within [number] days of invoice receipt via [Payment Method].
• Late Payment Penalties: A late payment fee of [X%] per month shall apply to overdue amounts.

5. Delivery Terms

• Delivery Location: Goods shall be delivered to [Delivery Address].
• Delivery Schedule: The Supplier agrees to deliver the goods as per the timeline specified in Schedule A.
• Delay Penalty: A penalty of [amount or percentage] per day will apply for delayed deliveries.

6. Quality Standards and Inspection

• The goods must meet the specifications and standards outlined in Schedule A.
• The Buyer reserves the right to inspect goods upon delivery and may reject non-conforming goods.

7. Warranties and Indemnities
The Supplier warrants that the goods supplied:

• Are free from defects.
• Conform to agreed specifications.
  The Supplier shall indemnify the Buyer against any claims, losses, or damages arising from defective goods or breach of terms.

8. Confidentiality
Both parties agree to maintain confidentiality of proprietary information disclosed during the term of this Agreement.

9. Termination
This Agreement may be terminated:

• By mutual written consent.
• By either party upon [notice period] days' written notice.
• For breach of contract with immediate effect.

10. Force Majeure
Neither party shall be held liable for delays or failure to perform due to events beyond their reasonable control, including but not limited to acts of God, government restrictions, or natural disasters.

11. Dispute Resolution
All disputes arising from this Agreement shall be resolved through negotiation, failing which they shall be referred to arbitration as per the [Arbitration Rules].

12. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [Jurisdiction].

13. Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, whether oral or written.

14. Amendments
This Agreement may only be amended in writing and signed by both parties.

Signatures
Supplier: ___________________________
Name: _____________________________
Date: _____________________________

Buyer: ___________________________
Name: _____________________________
Date: _____________________________

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Schedule A – Description of Goods and Pricing
(Provide detailed specifications, quantities, and prices.)

Schedule B – Delivery Schedule
(Include delivery timelines and any applicable conditions.)

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