A vendor contract template, as the name depicts, is executed between the two business parties in order to initiate the new business relations in which the selling of services & products takes place by the vendor corporation.
Sample Vendor Contract Template:
Contract number: ___________
Date: ___/____/___ [mention the registration number & date]
This vendor contract is created between _______________, Address: _____________ official number: ____________ hereinafter called as the client company [details of the client organization],
__________________, located at: _______________, ZIP: ____________, working number; ________________, hereinafter called as the vendor firm [contact details of the client corporation]
Whereas the client company has hired the vendor firm for selling the following mentioned products:
____________ [details of the products along with specifications]
This contract is effective from ____/____/____ and is terminating on ____/____/___ [provide the required details]
Underneath mentioned are the covenants and conditions for this contract:
The client company is ready to pay $__________ [payment in the local currency] as a monthly amount, whereas $__________ [total amount] has already been paid to the vendor firm for commencing the business relationship.
Obligations & duties:
The vendor will sell the committed monthly quantity and the client company will pay the amount on time.
Termination: The termination clause can be true in case of any legitimate issue. The faulty party will pay______ [mention the percentage] of the total amount to the alleging party.
Hence, both the parties are requested to sign the contract:
Signature of the client company: _______________
Signature of the vendor firm: __________________ [approved by both the parties]
Singed by the third party: _____________________ [sign of the eye witness]