Vendor / Supply Agreement

What this is

A vendor or supply agreement between a buyer and a supplier of goods or materials - specifications, quantities, price and revision, ordering and forecasts, delivery, inspection and rejection, quality and warranty, payment terms, penalties, liability, confidentiality and termination - drafted for either side. It is for manufacturers, traders, retailers and their suppliers. Our panel advocate drafts and reviews the agreement and delivers it signed on letterhead; stamping is a separate step we explain.

What you get

A vendor or supply agreement drafted, reviewed and signed by our panel advocate on letterhead, covering the parties, products and specifications, quantities, forecasts and purchase orders, price, taxes and revision, delivery terms, packaging and transport, title and risk, inspection, acceptance and rejection, quality standards, warranty and replacement, recall, payment terms and MSME payment obligations where the supplier is a registered micro or small enterprise, liquidated damages within lawful limits, insurance, compliance and ethics, confidentiality, IP in tooling and designs, term, termination and transition, indemnity, limitation of liability, force majeure and dispute resolution. Delivered ready for execution, with a note on stamp duty and on the forty-five-day MSME payment rule. Stamp duty is not included.

How it works

1. 1Tell us the supplyWho buys what from whom, volumes, price and delivery. Upload the purchase order, quotation or the other side's draft.
2. 2Confirm the commercial termsPrice, revision, credit, delivery, quality and penalties.
3. 3Answer the advocate's questionsWhether the supplier is an MSME, who owns tooling and designs, how quality is checked, and what happens on late delivery or late payment.
4. 4PayPay the fee.
5. 5Advocate drafts and signsOur panel advocate drafts the agreement and signs it on letterhead.
6. 6Agreement is deliveredYou receive the agreement for execution, with the stamping and MSME note.

What to have ready

• Purchase order, quotation or the other side's draft (if you have it)If any.
• ID and PAN of every partyAadhaar and PAN of each person signing; incorporation documents if an entity.
• Authority letter or board resolution (if you have it)If signing for a company or firm.
• Specifications, drawings or approved sample record (if you have it)If available.
• Udyam certificate of the supplier (if you have it)If registered.
• Existing supply agreement (if you have it)If replacing one.
• Product certifications or licences (if you have it)If regulated goods.

What this is based on

• Contract Act 1872 (1872)
• Sale of Goods Act 1930 (1930)
• MSMED Act 2006 (2006)
• CGST/IGST Acts 2017. (2017)