A vendor business contract is an official understanding between an organization and the vendor party in order to sell or market the products or services. This contract mentions all the terms and conditions agreed by both the parties.
Sample Vendor Business Contract
Contract Number: 12- V
Date: October: 14th, 2010
This business contract is initiated by and between the Hopkinson Clothing Collection, considered as the owner located at: 45/ D, Block- A, Chaplin Street, Toronto, Canada, AND Mr. Andrew Beans , hereinafter known as the vendor party residing at: 34/ H, Office No: 15/c, New Richie Street, Toronto, Canada.
Whereas the owner is seeking to hire the vendor party and the vendor party is interested to work with the owner. Hence, this contract is starting from October 16th 2010 and is ending on October 16th, 2011.
Therefore, underneath mentioned are the term & conditions in order to start the new business relationship:
The vendor party has to work according to the owner’s defined working rules and conditions, whereas the owner will provide free training to the vendor staff.
The owner is committed to pay the basic amount of $ 3200 including 10% of the monthly profit. The amount will be transacted to the vendor party’s given account on 7th of each month.
The Vendor Party’ responsibilities:
The vendor party has to avail the latest information and new uniform stock to their staff. If the vendor is delivering good working rate, the contract can be renewed.
The termination column is strictly applicable to both the parties. A non- resolvable issue can cause the termination of the contract.
Hereby, both the parties will sign the document in order to accept the contract:
Signature of the Owner organization:
Signature of the Vendor Party: