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The Inventory Purchase Agreement is a crucial commercial contract used when businesses need to establish a formal relationship for the regular purchase of inventory items. This agreement, governed by Singapore law, sets out the essential terms of the transaction including price, quantity, quality specifications, delivery schedules, and payment terms. It's particularly important for businesses requiring consistent supply of goods and helps manage risk while ensuring compliance with Singapore's Sale of Goods Act and other relevant regulations. The agreement is commonly used in various industries where regular inventory purchases are necessary for business operations.
