Long term supply agreement

When there is a need to engage another supplier to supplement your resources in a certain supply Contract and to accomplish the same within a stipulated period, this document is of great help to settle terms, both commercial as well as legal.

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About this document

Outsourcing is almost a necessity when handling a large project or when there is a need to engage another specialist to supplement your resources in a certain Contract work and to accomplish the same within a stipulated period when your own business is lacking in resources. This document template comes handy to define the relationship with a supplier, terms and conditions for its continuance and thus objectively satisfies the purpose and reasons, for the parties concerned.

This document can be used by a Company arranging terms with a supplier in India or abroad to supplement its obligations in a supply contract such as to furnish labor, materials, supplies, goods, tools, services, facilities, supervision, and/or administration necessary for the proper and complete performance on "the Prime Contract" assigned to the Company.

This can also be used by a Supplier capable of providing such and similar services to the Company, who has bagged the prime contract with the Principal.

Application and features

  • suitable for goods supplies projects and adaptable for services
  • suitable for foreign/domestic market
  • ready for adaptation to particular needs of either or both parties
  • comprehensive provisions provide ideas
  • real law in simple English

Contents

  • Supplier’s work responsibilities and obligations defined
  • Supplier’s prices and payment terms
  • Duration and termination
  • Force majeure
  • Indemnification
  • Appropriate legal provisions - warranties, exclusions, indemnities, etc.
  • Miscellaneous provisions and restrictive covenants
Draftsman

This document has been drawn by Rakesh Taneja, unconnected with Net Lawman. Rakesh Taneja will welcome your contact for further legal help. There may be a charge for Rakesh Taneja services.

IN-MADdis05 - Long term supply agreement

 
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