The Memorandum of Agreement Between Supplier and Buyer is a fundamental commercial document used to formalize trading relationships between parties. It is particularly relevant in England and Wales, where it must comply with specific legislation including the Sale of Goods Act 1979 and Commercial Agents Regulations. This agreement is essential when establishing ongoing supply relationships, defining quality standards, setting payment terms, and managing delivery expectations. It provides legal protection for both parties and clarity on their respective obligations and rights.
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1. Parties: Identification and details of the supplier and buyer
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Supply Obligations: Core obligations of the supplier regarding goods/services
5. Price and Payment: Payment terms, pricing, and invoicing arrangements
6. Delivery: Delivery terms, timing, and logistics
7. Quality and Standards: Quality requirements and acceptance criteria
8. Term and Termination: Duration and termination provisions
9. Governing Law: Applicable law and jurisdiction
1. Intellectual Property: IP rights and licenses - include when IP rights are involved in the supply
2. Confidentiality: Protection of confidential information - include when sensitive information is shared
3. Force Majeure: Provisions for unforeseen circumstances - include for long-term or high-value contracts
4. Insurance: Insurance requirements - include for high-value or high-risk supplies
5. Data Protection: Data handling obligations - include when personal data is processed
1. Schedule 1 - Goods/Services Specification: Detailed description of goods/services to be supplied
2. Schedule 2 - Pricing Schedule: Detailed pricing information and payment terms
3. Schedule 3 - Service Levels: Performance metrics and standards for service contracts
4. Schedule 4 - Form of Purchase Order: Template for ordering goods/services
Relevant legal definitions
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Relevant Industries
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