Supply Agreement

A Supply Agreement is a document between two parties, a Supplier and a Purchaser. The Supplier can be an individual or business and is the party that "supplies," or sells, the goods to the Purchaser.

It isn't illegal to write a contract without an attorney. A contract can be simple or complex and is an agreement between two or more parties. It can be a written or oral agreement.Contract law, however, requires that all contracts must contain certain elements to be valid and enforceable.

The name and addresses of both parties. timeframes. responsibilities of both parties. pricing and payment details, including schedule and invoicing process.

A contract is an agreement that two or more parties enter into that is legally binding and enforceable by a court.A contract must include all relevant information about the exchange. Essentially, anyone can draft a contract on their own; an attorney is not required to form a valid contract.

Key elements of a contract. For a contract to be valid, it must have four key elements: agreement, capacity, consideration, and intention.

Drafting a contract. Provide details of the parties. Describe services or results. Set out payment details. Assign intellectual property rights. Explain how to treat confidential information. Identify who is liable indemnity. Provide insurance obligations.

The name and addresses of both parties involved. A description of the supplier's services and requirements. Payments terms and frequency of payments. Confidentiality clauses. Refunds and compensation clauses. Renewal terms. Signatures, dates and witness signatures if applicable.

A supply agreement states the terms and conditions under which one company will manufacture and supply goods to another. A supply contract may be exclusive or non-exclusive, include standards on product quality, and should state how product orders will be handled.