Commercial contracts are those agreements which are formed between two or more commercial entities. These contracts can be in reference to a number of business activities such as sale and purchase of material, equipment; packaging and moving material; employment schemes etc. A commercial contract example has been provided below which refers to the agreement of sale of a certain raw material between firms.
Sample Commercial Contract Example
Date of signing the contract: February 10th, 2012.
The contract is being signed between Firth Cottons Ltd and Henry Fashion Lines.
The contract states that Firth industries have agreed to sell cotton clothing raw material to Henry fashions and that Henry Fashion has agreed to purchase cotton raw material from Firth industries for five years starting the date of commencement of contract.
Date of commencement of contract: 20th February, 2012
Details of the Suppliers:
Authorized personnel: Mr. Harrison Hollow
Position: Chief Executive Officer
Contact No.: 625-24-230
Details of the Buyer:
Authorized Personnel: Ms. Rachel Berry
Position: Senior Manager
Contact No.: 625-84-294
Details/ Terms of the Contract:
- 1. The suppliers are bound to supply the required amount of material not later than the date promised for delivery.
- 2. The rate of purchase is bound to be updated as per the market conditions overtime.
- 3. The contract may be terminated on a mutual basis or by the decision of the court of law in case the views of the parties differ before the expiry of the 5 year span.
_____________________________ (Mr. Harrison Hollow)
_____________________________ (Ms. Rachel Berry)