This is a tooling agreement between the buyer and vendor. The document describes the description of tooling, the replacement value of tooling, location of tooling, and the relationship of the parties in all their dealings.
Pennsylvania Tooling Agreement
Category:
State:
Multi-State
Control #:
US-TC0517
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Tooling Agreement?
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FAQ
Supplier Tooling means the bespoke tooling owned by you and put in place for the production of goods pursuant to the Contract.
Typically, tooling cost is a non-recurring charge at the beginning of the process and the customer owns the tool and the product design.
The purpose of the tool agreement is to provide assurances that the legal interests of both parties are adequately protected and that the relationship is mutually beneficial.
(2) In order to be able to manufacture the Products, Supplier will need specific Production Equipment. For that purpose, this Tooling Agreement stipulates the rights and duties of the Parties with regard to the ownership, utilization and maintenance of such Production Equipment.
Those seven elements are: Identification (Defining all the parties involved) Offer (The agreement) Acceptance (Agreement mirrored by other parties) Mutual consent (Signatory consent of all parties) Consideration (The value exchanged for the offer) Capacity (Legal/mental competence of all parties)
A reseller agreement typically refers to an arrangement between someone supplying goods (often known as the wholesaler) and another party selling the goods to a third party or the general public (the reseller). Under a reseller agreement, the reseller agrees to sell the products on behalf of the wholesaler.