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What is a Vendor Agreement?
A Vendor Agreement contract in which the terms and conditions between a buyer and a seller are agreed upfront, such as product delivery period and payment expectation, etc. a good vendor agreement specifies the Pricing, Delivery terms, payment terms, What if something goes wrong, termination, Confidentiality, etc.
Drafting and sharing of first draft
Review and feedback
Iterations and Final Documents
Documents and Information Required
- Required information
- Documents required if any
- First Draft (Soft Copy)
- Final Draft (Soft Copy)
Why choose Wazzeer?
One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
What is the procedure to make a vendor’s agreement?
To make a Vendors Agreement there is only two-step procedure:
- Drafting of the Agreement with proper details of all parties
- Affixing Signature of all parties
- There is no requirement of notary or registration signature of parties is enough.
What is the meaning of Statement of work?
Statement of work is a document depicting all the details like activities, time period, cost, duties. It is done to keep the track of work.
What is the basic requirement of Vendors Agreement?
Vendor agreement is made to specify all the conditions between parties to avoid future problems. The well-drafted agreement should contain the following factors-
c) Delivery details
d) Statement of Work (SoW)
What is the aim or purpose of a Vendors Agreement?
Vendor agreement basically acts as insurance made by two parties with mutual consent. It is made when you are dealing on the small-scale business, but now by seeing the benefits, the operativity had increased immensely. It saves both the parties from any loss on account of other.
What importance of a vendor agreement?
A vendor agreement creates a legally binding contract between the parties. This reduces the risk of fraudulent activities by the vendor and thus saves the business from any loss due to the unlawful activities of the parties.
What should be included in vendors agreement?
Following should be included in a Vendors Agreement:
- Mention the goods & services that will be provided.
- Describe payment modes.
- The manner in which a client will be billed.
- The manner in which a person will contact for accounts payable details.
- Statement of Work (SoW)