SUPPLY AGREEMENT.
This Supply Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between ______________. Contact Info: _______________________, (hereinafter referred to as the “Buyer”), and _______________ Contact Info: _________________ (herein referred to as the “Supplier”).
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
- TERM.
The initial term of this Agreement shall be for a period of _____ [Months/Years] commencing on the Effective Date herein, to be renewed tacitly on the anniversary date unless terminated.
- PRODUCT.
- The Supplier shall be supplying the Buyer with suits. The specification of the suits and the quantity shall be _________________________________________________________________________________________________________________________________________________________________________________________________________________.
- The suits shall be delivered at the Buyer’s official address _______________________.
- Each purchase and sell transaction between the Parties shall be evidenced by an order placed through the Supplier’s email _______________________________________. Orders, if approved, shall be processed and shipped within Two weeks upon the approval of the order and according to the Company’s.
- PAYMENT.
The Buyer shall pay __________ Dollars per suit for every suit ordered under this Agreement. All payments shall be made as follows; ______________________________________________________________________________________________________________________________________________________________________________________.
- SHIPPING.
- The Parties agree that the shipping costs shall be paid by the Buyer and shall be included in the total payment covered under this Agreement.
- In the event that the products are damaged and/or lost during shipping, the Supplier shall not be held responsible to compensate or refund the Buyer unless such damage and/or loss was as a result of the Supplier’s negligence.
- BRANDING.
The Supplier understands that the suits covered under this Agreement shall be sold under the brand name of the Buyer and that the Supplier is prohibited against showing and/or advertising the suits using their own brand name.
- NON-COMPETE/NON-SOLICITATION.
- The Supplier and/or their associates shall not, during the term of this Agreement and/or within Two years upon the termination/cancellation of this Agreement, shall offer by way of retail or wholesale the same services/business as the one offered by the Buyer. The Supplier and/or their associates shall not start/operate the same or a similar business as that of the Buyer during the term of this Agreement.
- The Supplier shall not, during the term of this Agreement and/or upon the termination/cancellation thereof, solicit, negotiate, and contact directly or indirectly, any other Buyer’s customers with the aim of conducting business with them. In the event that the Supplier directly/indirectly competes with the Buyer and/or solicits any of the Buyer’s customers, the Supplier shall refund all the amount paid by the Buyer and this Agreement.
- SUBCONTRACTS
The Supplier will not subcontract any parts of their obligations under this Agreement to a third party without the prior written consent of the Buyer. However, in the event a subcontractor is permitted to perform any of the Supplier’s obligations under this Agreement, the Supplier will continue to be held responsible for all terms and conditions of the contract.
- WAIVER AND ASSIGNMENT.
- The waiver by either Party of any breach or failure to enforce any of the terms and conditions of this Agreement at any time shall NOT in any way affect, limit, or waive such party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.
- No Party shall assign its rights or obligations under this Agreement without prior Notice or consent by the other Party.
- FORCE MAJEURE:
The failure on the part of the Supplier to perform their obligation under this Agreement will not be considered as default if such failure is the result of natural calamities, acts or God, Covid-19, extreme adverse disasters and circumstances beyond the control of the parties.
- TERMINATION/CANCELLATION.
The Parties acknowledge that either Party can terminate/cancel this Agreement at any time provided that they issue a 3 Months Written Notice on the same. The Buyer shall ensure to clear any and all outstanding payments before the termination/cancellation can be considered conclusive.
- MODIFICATIONS.
This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- GOVERNING LAW AND JURISDICTION
This Agreement shall be governed by and construed in accordance with the laws of ____________ [State/Country]. Exclusive jurisdiction and venue shall be in ____________ [State/Country].
Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
BUYER: _____________ ________________________________ ___________
(SIGNATURE) (NAME) (DATE)
SUPPLIER: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
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