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