Corporate Law
Vendor Agreement
A contract between a business and its supplier, setting out the terms on which goods or services will be supplied, including pricing, delivery, and quality standards.
Well-drafted vendor agreements address practical issues like payment terms, liability for defective goods, and termination rights, reducing the scope for disputes over the course of an ongoing commercial relationship.
Disputes under such agreements are frequently resolved through arbitration, where the contract specifically provides for it.
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