SUPPLY AGREEMENT TERM SHEET
I. Introduction
[Your Company Name], hereinafter referred to as "Supplier," and [Buyer's Company Name], hereinafter referred to as "Buyer," agree to the terms outlined in this Supply Agreement Term Sheet for the provision of [products or services].
This Term Sheet is intended as a preliminary agreement to facilitate discussions and negotiations between the Supplier and the Buyer before finalizing a formal supply agreement.
II. Parties Involved
Supplier: [Your Company Name]
Address: [Your Company Address]
Contact Person: [Your Name]
Email: [Your Email]
Phone: [Your Contact Number]
Buyer: [Buyer's Company Name]
Address: [Buyer's Address]
Contact Person: [Buyer's Contact Person Name]
Email: [Buyer's Email]
Phone: [Buyer's Phone Number]
III. Products/Services Details
Products/Services to be Supplied: Widgets, Gadgets, and Gizmos
Specifications: [Include specifications, if applicable]
Quantity: 10,000 units per month
Delivery Schedule: Weekly deliveries on Mondays
Quality Standards: ISO 9001 certified; inspection every quarter
IV. Pricing and Payment Terms
Unit Price: $100 per unit
Total Price: $1,000,000 per month
Payment Terms: Net 30 days from the date of invoice
Taxes: All applicable taxes are the responsibility of the Buyer.
V. Term and Termination
Term: Five (5) years from January 1, 2050, to December 31, 2054
Termination: Either party may terminate with 90 days' written notice.
VI. Confidentiality and Intellectual Property
Confidentiality:
Both parties agree to maintain the confidentiality of all proprietary information exchanged.
Intellectual Property:
All intellectual property rights related to the supplied products/services remain with the Supplier.
VII. Dispute Resolution
VIII. Miscellaneous
Force Majeure:
Events beyond reasonable control shall not be considered a breach of contract.
Assignment:
Neither party may assign rights or obligations without prior written consent.
Entire Agreement:
This Term Sheet constitutes the entire agreement between the parties.
IX. Signatures
Both parties acknowledge their agreement to the terms and conditions outlined in this Supply Agreement Term Sheet.
Signed by:
Supplier:
[Your Name]
[Your Title]
[Date]
Buyer:
[Buyer's Contact Person Name]
[Buyer's Title]
[Date]
This Supply Agreement Term Sheet is valid from January 1, 2050, until December 31, 2054, unless terminated earlier as per the terms herein.
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