As the name suggests, a supply agreement for the sale of goods/services determines the rights and obligations of a supplier and purchaser when the former provides goods/services to the latter.
When drafting agreements for the sale or supply of goods and/or services, considering the following terms is nothing short of essential:
- Product Appointment Types (where the supplier restricts the purchaser from purchasing goods subject to the terms of the contract)
- Product and Price
- Forecast or Minimum Purchase Order
- Order and Delivery Process
- Product Safety
- Title and Security Interests in the Goods.