PURCHASE AGREEMENT

PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT (the “Agreement”) dated this ___ day of _______________, 2021 BETWEEN:

Insert the Name of Your Business of Insert Address

(the “Seller”)

  • AND –

Insert Buyer’s Name of Insert Buyer’s Address

(the “Buyer”)

BACKGROUND:

  1. Seller desires to sell to the Buyer a comprehensive collection of fence signs (the “Goods”).
  2. Seller has the necessary qualifications, experience and abilities to provide Goods to the Buyer.
  3. Seller is agreeable to providing such goods to the Buyer on the terms and conditions set out in this Agreement.

IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, Seller and Buyer (individually the “Party” and collectively the “Parties” to this Agreement) agree as follows:

Performance 

  1. The Parties agree to do everything necessary to ensure that the terms of this Agreement take effect.

Term of Agreement

  1. The term of this Agreement (the “Term”) will begin on Insert Date.
  2. Buyer can terminate this Agreement any time. In the event of termination, Buyer agrees to purchase all existing inventory that Seller had purchased for Buyer’s needs.

Order Requirements

  1. Seller guarantees to supply Buyer with all inventory that Buyer may require. 
  2. Buyer agrees that Seller will increase Buyer’s inventory as Buyer’s needs increase.
  3. Buyer agrees to purchase all inventory supplied by Seller according to Buyer’s needs.
  4. In the event that Buyer requests a higher inventory, Seller shall have 60 days to increase the available pieces on the floor.

Payment

  1. Payment shall be made as follows:
Item Quantity Price Sub-total
       
       

Shipping and Handling

  1. Buyer shall pay for shipping the Goods to Buyer.
  2. Buyer bears responsibility for the Goods, including responsibility for the risk of loss or damage to the Goods. Additionally, Buyer is responsible for the purchase of private insurance in connection with shipment of the Goods, if desired by Buyer.

Dispute Resolution

  1. All disputes arising from or connected to this Agreement which pertain to its validity, effectiveness, violation, interpretation, expiration, termination and its consequences shall be resolved by litigation, pursuant to the laws of the State of North Carolina.

Legal Expenses

  1. In the event that legal action is brought to enforce or interpret any term of this Agreement, the prevailing Party will be entitled to recover, in addition to any other damages or award, all reasonable legal costs and fees associated with the action.

Modification of Agreement

  1. Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party.

Entire Agreement

  1. It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement except as expressly provided in this Agreement.

Inurement

  1. This Agreement will inure to the benefit of and be binding on the Parties and their respective heirs, executors, administrators, successors and permitted assigns.

Severability

  1. In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, all other provisions will nevertheless continue to be valid and enforceable with the invalid or unenforceable parts severed from the remainder of this Agreement.

Waiver

  1. The waiver by either Party of a breach, default, delay or omission of any of the provisions of this Agreement by the other Party will not be construed as a waiver of any subsequent breach of the same or other provisions.

IN WITNESS WHEREOF the Parties have duly affixed their signatures under hand and seal on this ___ day of _____________, 2021.

___________________________________ Seller

WITNESS: __________________________ Per: _________________________ (Seal)

___________________________________ Buyer

WITNESS: __________________________ Per: _________________________ (Seal)

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