VENDING MACHINE SERVICE CONTRACT
This Vending Contract (hereinafter referred to as the ‘Contract’) is entered into as of _______________________ (“Effective Date”) by and between __________________________________, with a mailing address of_________________________ (hereinafter referred to as the ‘Owner’) and _____________________________ with a mailing address of _________________________________________ (hereinafter referred to as the ‘Vendor’), collectively referred to as the ‘Parties’, both of whom agree to be bound by this Contract.
- Purpose. The Owner’s business is located at ________________________________. The specific locations within the Premises are to be mutually agreed upon within the Premises of the Owner. The Vendor may place vending machines for the sale of the following items within the Premises of the Owner: ________________________________________
- Maintenance. The Vendor shall maintain the machines in good working order and regularly maintain and clean them so that they do not detract from the appearance of the business Premises of the Owner. The Owner may terminate this license and require that the Vendor remove the machines in the event that the machines are unsightly or malfunction and reasonably detract from the Owner’s reputations.
- Limitation of Liability. The Vendor shall release the Owner from all liabilities related to and arising out of the use of the machine(s).
- Term and Termination. The Term of this Agreement shall commence on the effective date and continue for 24 months. The Parties may mutually agree to continue with the term of this Agreement. This Agreement may be terminated at any time by either Party upon thirty (30) days written notice to the other Party. The Owner may terminate the Agreement if the machine does not produce profits within the first 6 months, if the machine is burglarized and if they have irreconcilable differences with the Vendor.
- Compensation. In consideration of the license to place the machines on the Premises of the Owner, the gross sums collected from the machine’s operation shall be spilt as follows:
- The Owner shall receive ________________ %
- The Vendor shall receive ______________%
- Payment. Accountings and payments shall be made monthly. The Owner or its representative shall be entitled to audit the books or records of the Vendor to determine the accuracy of the accounting
- Legal and Binding Contract. This Contract is legal and binding between the Parties stated above. The Parties each represent that they have the authority to enter into this Contract.
- Dispute Resolution. Any disputes arising between the Parties shall be solved in good faith through mediation.
- Governing Law and Jurisdiction. The Parties agree that this Contract shall be governed by Tennessee law.
- Entire Contract. The Parties acknowledge and agree that this Contract represents the entire agreement between the Parties. In the event that the Parties desire to change, add, or otherwise modify any terms, they shall do so in writing to be signed by both Parties.
The Parties agree to the terms and conditions set forth above as demonstrated by their signatures as follows:
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