Supplier Contract Terms
1. The need for Supplier Contract Terms
As a business you would want your supplier or purchaser of services or goods to have a set written contract which outlines who is expected to do what and when so that the business operations can continue smoothly.
A written contract outlining terms and conditions is known as a supplier contract or supplier agreement. This is an agreement between a business and a supplier for the delivery of the agreed goods or services. It is a legal document and can be used to enforce certain actions that you had agreed with either party.
An agreement could cover things like the names of the parties involved, timeframes, the responsibilities of both parties and importantly pricing, payment details and schedules for the invoicing.
We have also had agreements which cover things like review processes, confidentiality clauses, exclusivity of supply clauses and refunds all covered in a legally binding contract between two parties to the transaction.
It is important to note that whilst any contract that is drafted by us it would be more likely protecting more of your interests than the other party, however, you should note that the other party is likely to have independent legal advice and there will be negotiations involved resulting in a final version of an agreement which is satisfactory for both sides entering into such an agreement.
Such agreements should also cover things like what happens in the event there is an issue with delivery or damaged items so that you can ensure there is no problems in you running your business whilst being reliant on another party to supply you with goods and services or if it is you that is providing the goods and or services to a buyer.
2. Advice and Preparation of a Supplier Agreements
At NIDO we have real life experiences in drafting Supplier Agreements for small to medium sized businesses.
At NIDO we have assisted businesses that have needed the supply of different things such as marketing material to nail supplies for salons who have had the need to have an agreement in place which covers the key components of the transaction.
We can guide you on the requirements for these types of agreements and the key components that they must contain. We can also assist you with having specific requirements such as the supplier or the buyer not providing the same service or goods to a competitor for a certain period of time or within a certain locality to your business.
The agreement can be drawn according to your needs and what you want it to cover but our lawyers at NIDO will provide you with options and alternatives in order to ensure that your business has this important document to protect you during the course of your agreement with a supplier or with a person that needs your services or goods as a supplier yourself.
Our lawyers at NIDO have extensive experience in assisting many businesses in the UK for a wide array of reasons and one of these is providing assistance with Supplier Agreements.
At NIDO, our experienced lawyers can confidently assist you in dealing with your requirements should you need to have a supplier agreement to ensure the smooth operation of your business.