Sales Target Market Contract
This Contract is made as of [Insert Date] (the "Effective Date") by and between [Your Company Name], a corporation duly incorporated under the laws of [your company's location], with its principal place of business at [Your Company Address] (hereinafter referred to as the "Company"),
and
[Partner Company Name], a corporation duly incorporated under the laws of [partner company's location], with its principal place of business at [Partner Company Address] (hereinafter referred to as the "Partner").
ARTICLE I - DEFINITIONS
Under this Contract, “Sales Targets” refer to the minimum quantity of product that the Partner is required to sell in the designated market within the stipulated time period. A “Territory” refers to the geographical area assigned to the Partner for the sales of the Company’s products.
ARTICLE II - TERM AND TERRITORY
This Contract shall commence on [commencement date] and continue until [termination date], unless terminated earlier in accordance with the provisions of Article V (“Term”). The Territory for this Contract shall be [Specific Geographical Area].
ARTICLE III - AGREEMENT OF PARTICIPATION
The Partner agrees to exert its best efforts to market and sell the Company’s products in the Territory to achieve the Sales Targets. The Company shall provide the Partner with technical, sales, and marketing support as reasonably requested by the Partner. The Partner shall abide by all laws, rules, and regulations applicable in the Territory.
ARTICLE IV - SALES TARGETS
The Partner agrees to meet and exceed the minimum Sales Targets set by the Company which shall be updated on a [quarterly/biannual/annual] basis. Failure to meet these Sales Targets may result in penalties, as described in Article VI.
ARTICLE V - TERMINATION
Either party may terminate this contract with 30 days’ written notice. If either party becomes insolvent or bankrupt, the other party may terminate this Contract immediately upon written notification.
ARTICLE VI - PENALTIES FOR NON-PERFORMANCE
If the Partner fails to meet the Sales Targets, the Company has the right to impose penalties as per the predetermined agreement in this Contract or terminate this Contract as per the provisions stated in Article V.
ARTICLE VII - CONFIDENTIALITY
Both parties agree to maintain and protect the confidentiality of all confidential information that they may receive from the other party during the Term of this Contract.
ARTICLE VIII - GOVERNING LAW
This Contract shall be governed by and construed in accordance with the laws of the [appointed jurisdiction], without regard to its conflict of laws provisions.
IN WITNESS WHEREOF, the parties have caused this Contract to be executed as of the Effective Date.
[Your Company Name]
______________________
[Your Company’s Authorized Signatory]
[Partner Company Name]
______________________
[Partner Company’s Authorized Signatory]
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