Long-term Supply Agreement
This Long-term Supply Agreement ("Agreement") is entered into as of [Date], by and between [Your Company Name], a [State] corporation with its principal place of business at [Your Company Address] ("Supplier"), and Grandeco, a [State] corporation with its principal place of business at Cincinnati, OH 45201 ("Buyer"). Supplier and Buyer may be referred to individually as a "Party" or collectively as the "Parties".
1. Purpose
The purpose of this Agreement is to set forth the terms and conditions under which Supplier will supply and deliver certain products to Buyer on a long-term basis, ensuring consistent quality and timely fulfillment of orders to meet Buyer's requirements.
2. Products
Supplier agrees to supply the products listed in Exhibit A ("Products") attached hereto and incorporated herein by reference. The specifications, quality standards, and quantities for each Product shall be detailed in Exhibit A.
3. Term
This Agreement shall commence on [Commencement Date] and shall continue in effect for a period of [Number] years ("Term") unless terminated earlier pursuant to the provisions of this Agreement.
4. Pricing and Payment
4.1 Pricing
The prices for the Products shall be as set forth in Exhibit B. Prices may only be adjusted as provided in this Agreement.
4.2 Payment Terms
Buyer shall make payment to Supplier within [Number] days from the date of receipt of the invoice and corresponding delivery of Products. Payment shall be made in [Currency], and any late payments shall incur interest at a rate of [Interest Rate] per month.
5. Delivery and Acceptance
Supplier shall deliver the Products to Buyer's facility at [Address] on the dates specified in each purchase order. Buyer shall have [Number] days to inspect the Products upon receipt and notify Supplier of any non-conformity.
6. Confidentiality
Both Parties agree to maintain the confidentiality of any proprietary or confidential information received from the other Party. Such obligations shall survive the termination of this Agreement.
7. Termination
7.1 Termination for Convenience
Either Party may terminate this Agreement for convenience by providing [Number] days written notice to the other Party.
7.2 Termination for Cause
Either Party may terminate this Agreement immediately upon written notice if the other Party breaches any material term of this Agreement and fails to cure such breach within [Number] days of receiving notice thereof.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflicts of law principles.
9. Entire Agreement
This Agreement, including all Exhibits, constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter hereof.
10. Signatures
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.
[Your Name]
[Your Company Name]
[Date]
Jerrell Lowe
Grandeco
[Date]
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