Source: http://whichdraft.com/contract/supply-agreement/
Timestamp: 2013-05-23 01:42:40
Document Index: 94554882

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A "Contract Year" indicates what dates start and end the year used to project forecasts.Party 1:Party 2:DEFINITION - CONTRACT YEAR - When should the Contract Year begin and end? Calendar year - January 1 - December 31. Fiscal year - October 1 - September 30. I will specify the Contract Year. Beginning date: End date:"Deliverables" are the tangible goods or intellectual property provided under an agreement for payment. "Services" are not goods or deliverables, which are the tangible results of the services. For example, if a consultant is engaged to meet with and better understand a customer's manufacturing system and then provide a written report summarizing how to improve the system, the meeting and understanding would be the services, while the report itself would be a deliverable.Party 1:Party 2:DELIVERABLES (Party-1 Buys) - What are the Deliverables Party-2 will provide to Party-1 pursuant to this Agreement?A "Forecast" is a document that is an estimate of how many Deliverables the customer wants to buy from the vendor within a particular time frame, and the vendor usually represents that it will be able to supply the forecasted amount of Deliverables. Instead of a non-binding estimate, sometimes the parties make the forecast binding and the customer has to purchase the entire Forecast amount. A "Purchase Order" is a document that is an actual order (not an estimate) for Deliverables, listing the Deliverable type, quantity and delivery date. Purchase Orders are binding and require the customer to purchase the entire amount stated in the Purchase Order.Party 1:Party 2:FORECASTS AND PURCHASE ORDERS (Party-1 Buys) - How often do I want to issue forecasts and purchase orders? Timing.Forecast timing. Quarterly Forecasts. Non-binding Forecast - 90 days notice. Binding Forecast - 90 days notice. Annual Forecasts. Non-binding Forecast - 90 days notice. Binding Forecast - 90 days notice. Forecast amounts agreed up front.Please specify the Deliverable amounts for each Quarter/Calendar Year during the Term.Purchase Order timing. Occasional Purchase Orders.How many days for delivery of the Deliverables? Monthly Purchase Orders.How many days for delivery? Quarterly Purchase OrdersHow many days for delivery? Annual Purchase Orders.How many days for delivery?"Exclusivity" or a "Requirements Contract" means that the customer must only purchase a certain kind of Deliverable from the vendor (and not from anyone else) while the Agreement is in effect.Party 1:Party 2:EXCLUSIVITY (Party-1 Buys) - Does Party-1 have to exclusively purchase the Deliverables from Party-2? Yes.Can Party-1 buy other products similar to the Deliverables? No.Please describe the products similar to the Deliverables. Yes.Can Party-1 purchase from third parties with lower price offers? Yes. No. No exclusivity."Marks and Copyrights" instructions explain to the vendor what the Deliverables packaging, labels and inserts must look like so that the Deliverables are ready for resale by the customer.Party 1:Party 2:MARKS AND COPYRIGHTS INSTRUCTIONS - What are the Marks and Copyrights instructions?Once a customer takes ownership and title to goods, if the goods are damaged or lost, then that becomes the customer's responsibility. Because of these consequences, the parties usually discuss and agree on the point where ownership, title and risk of loss are transferred to the customer. "Acceptance" is the point after the customer receives the Deliverables and has concluded that the Deliverables comply with the Agreement's requirements.Party 1:Party 2:OWNERSHIP, TITLE AND RISK OF LOSS (Deliverables) (Party-1 Buys) - At what point does ownership, title and risk of loss transfer to the customer? Acceptance by Party-1. Receipt by Party-1. Shipment to Party-1.A fee in this context can take many forms, including a flat fee, the total of the hours/days incurred times the hourly/daily rates, a guaranteed maximum fee, a per Service/Deliverable fee, a per milestone fee, or other arrangement.Party 1:Party 2:FEE (Services/Deliverables) (Party-1 Buys) - What are the fees? Flat fee.What is the flat fee? Rate fee. Hourly Rate.What is the hourly rate for each member of Party-2's personnel? Daily Rate.What is the daily rate for each member of Party-2's personnel? Guaranteed maximum fee equal to the lesser of a flat fee, or either an hourly rate fee or daily rate fee. Guaranteed maximum flat fee.What is the maximum flat fee?Hourly rate fee or daily rate fee? Hourly rate.What is the hourly rate for each member of Party-2's personnel? Daily rate.What is the daily rate for each member of Party-2's personnel? Per Service/Deliverable fee.Please list each Service/Deliverable and fee. Per milestone fee.Please list each milestone and fee. Other arrangements.Please list each fee."Payment Schedule" means when the vendor will bill the customer. The customer may prefer not to be billed until after acceptance, which is a legal concept that gives the customer a short testing period after receiving goods or services to determine whether or not they are satisfactory. The vendor instead prefers to invoice the customer upon receipt of goods or services, so that the vendor can recognize its revenue sooner.Party 1:Party 2:FEE - PAYMENT SCHEDULE (Party-1 Buys) - What is the payment schedule? Payment schedule by percentages of overall flat fee. 3 payments. 1/3 payment on Effective Date, 1/3 on Deliverables receipt date, and 1/3 on Deliverables acceptance date. 1/3 payment on Effective Date, 1/3 on Deliverables shipment date, and 1/3 on Deliverables receipt date. 4 payments (for deals where Deliverables specifications will be created). 1/4 payment on Effective Date, 1/4 on Deliverables specifications date, 1/4 on Deliverables receipt date, and 1/4 on Deliverables acceptance date. 1/4 payment on Effective Date, 1/4 on Deliverables specifications date, 1/4 on Deliverables shipment date, and 1/4 on Deliverables receipt date. I will specify the percentages and dates/milestones.Please specify the percentages and dates/milestones. Monthly payments for Services based on hourly rate. Payment of overall flat fee upon Deliverable acceptance or receipt. Acceptance. Receipt. Payment upon milestone achievement.Please specify each milestone and the fee amount to be invoiced. Different payment schedules for different Services and Deliverables.Please specify each fee payment schedule."Affiliates" means a party's parent, subsidiary, or related business associations that, in future purchases, could receive the same pricing under this contract. "Most Favored Customer Status" means that a customer is receiving a deal from a vendor which is just as good or better than any other deal the vendor has with any other customer.
"Assumptions" means requirements a customer must meet or the vendor will have to perform extra work and as a result will need to increase the fees.Party 1:Party 2:FEE - CONDITIONS (Party-1 Buys) - Do any assumptions, affiliate pricing, or most favored customer status conditions apply to the fee? Affiliate Pricing - Party-1's affiliates pay the same fees that Party-1 pays under this Agreement. Most favored customer status. Overall deal. Overall deal for similar sales at similar volume levels. Overall pricing. Overall pricing for similar sales at similar volume levels. Assumptions and Fee Increases. Does Party-1 have to do anything in advance so that Party-2 can meet the deadline?What must Party-1 do? Fee increases due to Party-1 not meeting the above requirements.What are the fee increases?A vendor may offer a discount off the invoice if the invoice is paid early so the vendor has its money sooner.Party 1:Party 2:FEE - EARLY PAYMENT DISCOUNT (Party-1 Buys) - Does Party-1 receive an early payment discount for early payments? 10 days, 2% discount. 15 days, 2% discount. I will specify the days and discount. To earn the discount, customer must pay the fee within how many days? What is the discount percentage? No discount for early payment.Expenses incurred by a vendor are sometimes reimbursed by a customer, and this cost is over and above the fees under the Agreement.Party 1:Party 2:EXPENSES (Party-1 Reimburses) - Will Party-1 reimburse Party-2's expenses? Yes. No.The "Warranty Length" refers to how long the Services and/or Deliverables will perform as expected.Party 1:Party 2:WARRANTY LENGTH (Deliverables) - How long should the warranty last? 30 day warranty. 90 day warranty. 1 year warranty. No time limit."Indemnification" and "Limitation of Liability" both focus on parties' responsibilities in disputes. "Limitation of Liability" covers disputes between the parties who sign the agreement. "Indemnification" focuses on a dispute where a third party sues a party who signed the agreement, and the suit was caused by the other signing party's conduct. If this other signing party is required to "indemnify" the first signing party, that means the second signing party will generally pay the legal fees and any damages awarded or settlement amounts. "Claim Elimination" deals with the situation where a third party demands that a customer no longer use a service, deliverable or product because it violates that third party's rights. Under this provision, a vendor is required to eliminate that claim or take other steps.Party 1:Party 2:INDEMNIFICATION (Deliverables) (Party-2 Indemnifies/Sells) - What do I want Party-2 to indemnify Party-1 for? Indemnification. Intellectual property infringement. Bodily injury, death, tangible property damage and theft, plus the above option. Failure of the Deliverables to conform to the Agreement, plus the above options. Breach of the Agreement, plus the above options. Claim elimination. Customer orientation. Vendor orientation. No claim elimination."Indemnification" and "Limitation of Liability" both focus on parties' responsibilities in disputes. "Limitation of Liability" covers disputes between the parties who sign the agreement. "Indemnification" focuses on a dispute where a third party sues a party who signed the agreement, and the suit was caused by the other signing party's conduct. If this other signing party is required to "indemnify" the first signing party, that means the second signing party will generally pay the legal fees and any damages awarded or settlement amounts.Party 1:Party 2:INDEMNIFICATION (Deliverables) (Party-1 Indemnifies/Buys) - What do I want Party-1 to indemnify Party-2 for? Indemnification. Intellectual property infringement. Bodily injury, death, tangible property damage and theft, plus the above option. Breach of the Agreement, plus the above options. No indemnification.The "Term" means how long the contract will be in force.Party 1:Party 2:TERM - LENGTH - How long is the term of the agreement? Term length in years.How many years do I want? 1 year 2 years 3 years I will specify how long.How long?An "Evergreen" term - also referred to as an "Automatic Renewal" - means that once the term comes to a certain date in the future, it automatically extends for an additional time period or repeated additional time periods until either party sends notice that the term does not renew anymore.Party 1:Party 2:TERM - EVERGREEN - Will the agreement automatically renew or not? Yes, I want the term to renew automatically for additional consecutive 1 year terms until either party gives notice that the term ends 30 days before the year is over. No"Termination for Convenience" means a party's right to terminate the agreement at any time for any reason at all (or even no reason), and is usually accompanied by advance written notice.Party 1:Party 2:TERMINATION FOR CONVENIENCE - Do I want to terminate the agreement at any time for any reason or no reason with thirty (30) days prior notice? Yes Both parties can terminate for convenience. Party-1 can terminate for convenience. NoA "Subcontractor" is a third party who one of the signing parties wants to perform some of its responsibilities under the Agreement, such as providing a Service or Deliverable.Party 1:Party 2:SUBCONTRACTORS - Can one or both of the parties subcontract any responsibilities? Party-1 can subcontract with Party-2's consent, and Party-2 can subcontract without Party-1's consent. Party-2 can subcontract with Party-1's consent, and Party-1 can subcontract without Party-2's consent. Either party can subcontract with the other party's consent. Both parties can subcontract without the other party's consent. No subcontracting.The "Governing Law" is the particular state or country's laws that you choose to apply to this contract. Often times, the governing law is the state or country within which one or both of the parties have a main office, or where they are conducting business under the contract.Party 1:Party 2:GENERAL - GOVERNING LAW - Which state or country's laws govern this contract?"Forum", "Venue" or "Jurisdiction" refers to where disputes between the parties must be litigated. Often the parties will still be free to seek injunctions or other temporary relief outside of the forum as they see fit.Party 1:Party 2:GENERAL - FORUM - Which state or country is the forum for this contract?"Assignment" means the right to transfer the contract, or a right or obligation under the contract, to a third party. Usually, this is prohibited or limited to a third party buying the shares or assets of a party to the contract.Party 1:Party 2:GENERAL - ASSIGNMENT - Do I want both parties to be able to assign this Agreement, just Party-1, or not allow any assignments? Both parties. Broad right to assign. Limited right to assign to a third party buying a party's (to this Agreement) shares or assets. Just Party-1. Broad right to assign. Limited right to assign to a third party buying a party's (to this Agreement) shares or assets. No assignments.	“This is a great tool for freelancers, as well as business and law firms of all sizes.”
Supply Your Needs. Use this Comprehensive Supply Agreement when you need to buy goods from an ongoing supply, according to your needs.
Complete Description. This Comprehensive Supply Agreement covers customers buying goods from an ongoing supply, manufactured according to the customer’s needs, and explains the contract year, fiscal quarters, forecasts, purchase orders, finished goods, copyrights, trademarks, recalls, inventory at the end of the term, shortages, ownership, title, risk of loss, acceptance, returns, fees, invoices and taxes, warranties, disclaimers, indemnification, term and termination, force majeure, publicity, and general boilerplate for a supply chain agreement.