SALES AGREEMENT
THIS SALES AGREEMENT (“this Agreement”) is entered into by and between [NAME] of
address ADDRESS and [NAME] of address ADDRESS on
[DATE]
WHEREAS the Seller owns a product line that sells starter kits
WHEREAS the Buyer is a school and accepts to sell the starter kits
NOW, THEREFORE, in consideration of the premises, and of the mutual promises and
undertakings herein contained, the parties, intending to be legally bound, do agree as follows:
- AGREEMENT TO SELL
1.1 In accordance with this Agreement, the Seller grants an exclusive right to display and sell
the mutually agreed upon item(s), pursuant to the terms of this Agreement.
1.2 The sale price of all items and terms of said sale shall be in conformity with this
agreement
- PROCEEDS AND TERMS OF SALES
2.1 The Buyer shall be entitled to a 10% discount when ordering the starter kits from the
Seller.
2.2 The Buyer shall submit a payment for the full amount of the sale price, less the
aforementioned agreed upon 10%, to the Seller within 30 business days of receipt of the
sale. The Seller shall be paid their portion of the proceeds, 10% of the sale price, not to
include.
2.3 In addition to the above, there will be a 5% commission on every order a student places.
2.4 Both the Buyer and the Seller agree that payments shall be made in the form of
[PAYMENT METHOD]
2.5 The Buyer agrees to maintain the agreed upon selling price for each item to be sold
and will accept nothing less unless otherwise agreed upon in writing and signed by
both parties.
2.6 The Buyer shall maintain insurance for the premises and all contents thereof against
any damage or theft that may occur to any item(s) left with the Buyer to sell.
2.7 The Buyer shall retain possession and control of the merchandise for a minimum
period of days, beginning on the aforementioned agreement date.
2.8 Prior to or upon delivery of the merchandise, the Seller shall provide a complete and
accurate inventory list of the merchandise items that is to be sold. This list must
include a description of each item, the quantity of each item, the agreed upon price of
each item, and it must be signed by both the Seller and Buyer upon acceptance.
2.9 The Buyer shall only accept clean, quality merchandise in good condition.
2.10 All merchandise shall remain at the aforementioned Buyer’s address and shall not be
moved to another location without prior written notice to the Seller.
2.11 Any merchandise that is not sold at the end of the designated period shall be evaluated
by both the Buyer and the Seller. In the event that the Seller decides to remove their
merchandise, the Seller shall assume all responsibility for retrieving and removing the
unsold merchandise or arrange for the pick-up and all costs associated with said
removal of merchandise.
2.12 As an additional requirement, the Buyer must spend $ 15000 a year on the Seller’s
products in order for the agreement to remain in place.
- MERCHANDISE RECORDS
It shall be the responsibility of the Buyer to maintain all records of the merchandise and
ensure accurate record keeping of each item, quantity and what was sold. The Seller shall
have the right to inspect all records related to their account. - MERCHANDISE OWNERSHIP
The Seller shall retain ownership of any and all consigned merchandise until such time as
the merchandise is sold. - BREACH OF AGREEMENT
In the event that the Buyer fails to perform and/or adhere to the terms and obligations
contained herein this Agreement, the Seller shall be afforded the opportunity to cancel
this Agreement by providing days advance written notice to the Buyer.
However, the Seller shall in turn afford the Buyer the opportunity to take corrective
action prior to the deadline stated in the aforementioned advance written notice to avert
cancellation of this Agreement.
- TERMINATION OF THIS AGREEMENT
The Buyer may terminate this Agreement at any time and for any reason by providing
________days advance written notice and by returning to the Seller all the unsold
merchandise that is the subject of this Agreement.
The Seller may terminate this Agreement at any time and for any reason by providing
________days advance written notice, but said termination shall not affect the agreement
regarding items of merchandise already sold. The expense of delivery to the Seller of any
unsold merchandise shall be the responsibility of the party terminating this Agreement. - BUSINESS OPERATION
The Buyer shall maintain the exclusive right to determine the business operation and
management of its premises. The Seller shall have no liability or responsibility for the
operation and management of the Buyer’s business, employees, staff, officers or agents or
any torts or other causes of action that may result from daily operation of business, and
the Buyer agrees to defend, indemnify and hold harmless the Seller for same. - LIABILITY FOR LOSS, DAMAGE OR THEFT OF THE MERCHANDISE
In the event that the merchandise is lost, stolen, destroyed, damaged or unaccounted for
due to any cause, known or unknown, while in custody of the Seller:
The merchandise, or each item that is lost or unaccounted for shall be considered as
having been sold, and the Buyer shall pay unto the Seller the amount agreed herein as if
the lost merchandise had been sold and the Seller shall be paid the previously agreed
upon percentage, and that amount shall be paid no later than 30 days following the loss of
the merchandise unless otherwise agreed upon by the Buyer and the Seller.
- ARBITRATION/MEDIATION DISPUTE RESOLUTION
The Buyer and the Seller both agree that should any dispute arising through any aspect of
this relationship, including, but not limited to, any matters, disputes or claims, the parties
shall confer in good faith to promptly resolve any dispute. In the event that the parties are
unable to resolve the issue or dispute between them, then the matter shall be mediated
and/or arbitrated in an attempt to resolve any and all issues between the parties.
The parties agree that any claim or dispute that arises from/ for /through this agreement,
the relationship or obligations contemplated or outlined within this agreement, if not
resolved through mediation, shall then go to and be resolved through final and binding
arbitration. Any decision reached by the Arbitrator shall be final and binding and, if
required, may be entered as a judgment in any court having jurisdiction. This Agreement
shall be interpreted and governed by and in accordance with the Federal Arbitration Act 9
U.S.C. §1-16.
- SEVERABILITY CLAUSE
In the event that any provision of this Sales Agreement shall be deemed to be severable or
invalid, and if any term, condition, phrase or portion of this Agreement shall be
determined to be unlawful or otherwise unenforceable, the remainder of the Agreement
shall remain in full force and effect, so long as the clause severed does not affect the
intent of the parties. If a court should find any provision of this Agreement to be invalid
or unenforceable, but that by limiting said provision it would become valid and
enforceable, then said provision shall be deemed to be written, construed and enforced as
so limited. - ENTIRETY
The herein contained Sales Agreement constitutes the entire understanding of both the
Buyer and the Seller pertaining to all matters contemplated hereunder at this time. The
parties signing this Sales Agreement desire or intend that any contract or other agreement
entered into between the parties subsequent hereto shall supersede and preempt any
conflicting provision of this Sales Agreement whether written or oral. - WARRANTIES
Neither the Buyer nor the Seller shall make any guarantee or warranties in relation to any
sale, use or transfer of the merchandise by the other party or any third party acting on
behalf of the Buyer or the Seller. - ASSIGNMENT
This Agreement is not assignable and may not be modified other than by a written
modification agreed to and signed by both parties. - GOVERNING LAWS
This Agreement shall be construed and governed in accordance with the laws of the State
of [STATE] - WAIVER
The Buyer and the Seller agree that instances or patterns of wavier, forbearance, course of
dealing or trade usage shall not affect the right of either party to demand performance of
any term or condition contained within this Agreement.
In Witness Whereof, this Agreement is duly executed by the duly authorized representatives
of the parties as set forth below:
Buyer’s Signature Date
Seller’s Signature Date
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )