In order to function, every business needs to buy products from other vendors and also needs to avail different services. Therefore, it also needs to enter into service/vendor related agreements. The first party in this agreement is the business and the second party is the vendor or service provider. This agreement defines the terms and conditions of the sale/purchase or provision of service. Both parties must accept these terms and conditions before proceeding with the sale, purchase or provision of service. It is important to enter into this agreement as it defines and limits the liability of both parties.
Contents of Service/Vendor Related Agreements
Following are the main contents of this agreement:
- Law which applies to the agreement.
- Jurisdiction for settling disputes (if any).
- Term of service or supply of product.
- Amount as well as the manner of payment.
- Purpose of the agreement.
- Additional costs, if any, and the party that will bear these costs.
- Protection of sensitive and confidential information.
- Liability for payment of taxes (if any).
Please note that this is not an all-inclusive list. This is because the actual terms will vary as per the type of business. Therefore, we will provide you a checklist as per the type of your business.
Fee for Preparing Service/Vendor Related Agreements
The professional fee starts from Rs. 4000 and varies as per your needs.
Timeline for Preparing Service/Vendor Related Agreements
We usually take 3-5 business days to prepare such agreements upon receipt of all the details from your end. The actual time will vary further as per your needs.
How PocketLawyer Can Help?
Do you need any help with preparing a Service/Vendor Related Agreement? You can find a one-stop hassle free solution at PocketLawyer.
At PocketLawyer, you can post your requirement and get the best price quotation of lawyers as well as other professionals. These professionals are experts in legal drafting and can provide you their best services at affordable price.
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