Long Term Agreement for Sale of Goods with Restriction of Buyer's Territory for Distribution

• Category: Contracts - Sale of Goods
• State: Multi-State
• Control #: US-0784BG
• Format: Word; Rich Text

Description

A sale of goods is a present transfer of title to movable property for a price. This price may be a payment of money, an exchange of other property, or the performance of services. The parties to a sale are the person who owns the goods and the person to whom the title is transferred. The transferor is the seller or vendor, and the transferee is the buyer or vendee. The sale of goods is governed by Article 2 of the Uniform Commercial Code (UCC), a form of which has been adopted the state legislatures of every state. A Long Term Agreement for Sale of Goods with Restriction of Buyer's Territory for Distribution is a contract between a seller and a buyer that allows the seller to sell goods over a period of time with the understanding that the buyer may not sell or distribute the goods in a certain area or territory. The agreement outlines the terms and conditions of the agreement, such as the length of time the agreement is valid, the quantity and type of goods to be sold, the price and payment terms, and the restricted territory. This type of agreement is common for companies who want to protect their exclusive rights to distribute or sell certain products in a specific region. There are two main types of Long Term Agreement for Sale of Goods with Restriction of Buyer's Territory for Distribution: exclusive and non-exclusive. An exclusive agreement grants the buyer exclusive rights to distribute or sell the goods within a certain territory, while a non-exclusive agreement does not grant exclusive rights. Both agreements generally include a provision that requires the buyer to obtain the seller's written consent before selling the goods in another territory.

A Long Term Agreement for Sale of Goods with Restriction of Buyer's Territory for Distribution is a contract between a seller and a buyer that allows the seller to sell goods over a period of time with the understanding that the buyer may not sell or distribute the goods in a certain area or territory. The agreement outlines the terms and conditions of the agreement, such as the length of time the agreement is valid, the quantity and type of goods to be sold, the price and payment terms, and the restricted territory. This type of agreement is common for companies who want to protect their exclusive rights to distribute or sell certain products in a specific region. There are two main types of Long Term Agreement for Sale of Goods with Restriction of Buyer's Territory for Distribution: exclusive and non-exclusive. An exclusive agreement grants the buyer exclusive rights to distribute or sell the goods within a certain territory, while a non-exclusive agreement does not grant exclusive rights. Both agreements generally include a provision that requires the buyer to obtain the seller's written consent before selling the goods in another territory.