A business vendor finance contract is a contract which is formed between a business vendor and a vendee so as to discuss the details of a finance contract. These contracts are formal documents which are legally binding and consist of the various terms and conditions which are mutually decided and formulated amongst the parties. Any such contract makes it obligatory for the parties to abide by the details which are mentioned in the document. Given below is a sample of one such business vendor finance contract.
Sample business vendor finance contract:
This business vendor finance contract has been made as on 5th July 2012 between the vendor and the vendee. It shall remain into effect for 12 months. Thus termination date of contract is 5th July 2013.
The details of the parties are given as follows.
Name: Mr. Robert Jackson
Official address: 3-h, first floor, Markson lane, London
Contact number: 403947340
Name: Mr. Tim Pettigrew
Official address: F-78, second floor, Jack tower, London
Contact number: 4093473040
The Vendor and the Vendee are engaged in the selling and purchasing of wooden furniture pieces. This finance contract lays down the terms of the monetary exchange.
Total amount of products to be bought by VENDEE from VENDOR within 12 months: $2000
The terms and conditions of the contract have been given as follows:
- The VENDEE has to buy products worth $2000 within 12 months and can also exceed the amount. But under no condition can he purchase products less than this fixed amount.
- The VENDOR shall deliver the products on his own expense to the warehouse of the VENDEE.
- The VENDEE shall place an order 30 days before he needs the furniture pieces.
- The VENDOR cannot exceed a time of 30 days to deliver the products.