05 Mar Supplier Framework Agreement Template
When it comes to establishing a long-term business partnership with suppliers, a supplier framework agreement template can be a valuable tool. This document outlines the terms and conditions of the relationship between the supplier and the buyer, including pricing, delivery, quality, intellectual property, and confidentiality provisions.
Before you start drafting a supplier framework agreement template, you need to understand what information should be included. Here are some key sections that you should consider:
1. Parties: Identify who the parties are that are entering into the agreement. This can include the supplier`s legal name, address, and contact details, as well as the buyer`s legal name, address, and contact details.
2. Term: The term of the agreement should be clearly specified, outlining when the agreement will start and when it will end.
3. Scope of work: This section should outline the goods or services that the supplier will provide, including specifications and quantities.
4. Price: The agreement should specify the pricing structure, including the unit price, discounts, and payment terms.
5. Delivery: The delivery terms should be outlined, including the delivery schedule, transportation responsibilities, and any liability for damages during transport.
6. Quality: This section should detail the requirements for the quality of the goods or services, including inspections and testing procedures.
7. Intellectual property: If the supplier is providing any intellectual property, such as software or technology, the agreement should include provisions for ownership, licensing, and protection.
8. Termination: The agreement should outline the circumstances that would permit either party to terminate the agreement, as well as the notice required for termination.
9. Confidentiality: If either party will have access to confidential information, such as trade secrets or customer data, the agreement should include provisions for protecting that information.
10. Governing law: Specify the governing law that will apply to the agreement, as well as the jurisdiction for any disputes that may arise.
Using a supplier framework agreement template can save time and ensure that all necessary provisions are included. However, it`s important to tailor the agreement to the specific needs of your business and the supplier you`re working with. Be sure to consult with legal counsel to ensure that your agreement is legally sound and protects the interests of your business.