Prime Vendor Agreement


Prime vendor agreement is a legal document which is made between a prime vendor of a commodity or product and a vendee who buys the products. Such agreements are made based upon certain terms and conditions which are legal in nature.

Sample Prime Vendor Agreement

Agreement number: – 34/67

This agreement is made between

American corporation (AC)

ABC Street

New York, United States of America

AND

Standard Corporation (SC)

4th turn

Ontario, Toronto

Canada

Date of commencement: – 5th July, 2010

Where, American corporation is the primary vendor and Standard Corporation is the customer. Both the parties have entered into an agreement under the following terms:-

  • AC is the primary vendor and shall provide all the needs of the customer.
  • SC should make all the necessary payments within 15 days of delivery
  • Any late payments will be charged an interest of 1%.
  • Primary vendor shall deliver all the goods at the place suggested by the customer,
  • Customer shall only return products which suits the return policy of American corporation.
  • All the notices shall be sent in written.
  • Contract is valid for a term of 5 years from the date of commencement.

Termination of the agreement

Any violation in the above mentioned terms shall lead to termination of the agreement.

Dispute settlement

All settlement of dispute shall take place in the jurisdiction court.

Hereby, the after accepting all the conditions the contract is said to come in to existence.

Signature of Primary Vendor

American Corporation

Signature of Customer

Standard Corporation

Category: Vendor Agreements

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