Schedule Agreement Example
A schedule agreement is a type of contract that outlines the terms and conditions of a business arrangement between two parties. It is commonly used in procurement and supply chain management to establish a long-term relationship between a buyer and a supplier.
In this article, we will provide an example of a schedule agreement and the key elements that should be included.
Example of a Schedule Agreement:
Company A, represented by John Smith, and Company B, represented by Jane Doe, hereby agree to the following terms and conditions for the purchase of goods and services:
1. Scope of Work: Company B agrees to provide Company A with goods and services as described in the attached product specifications and service level agreement.
2. Delivery Schedule: Company B agrees to deliver the goods and services to Company A according to the following schedule:
– Initial delivery of goods: 30 days from the execution of this agreement.
– Subsequent deliveries of goods: every month thereafter.
– Provision of services: according to the service level agreement.
3. Pricing and Payment: The price for the goods and services provided by Company B shall be as follows:
– Goods: $X per unit.
– Services: $Y per hour.
Company A agrees to pay Company B in accordance with the following payment terms:
– Payment for goods: Net 30 days from receipt of invoice.
– Payment for services: Monthly in arrears.
4. Intellectual Property: All intellectual property rights in the goods and services provided by Company B shall remain the property of Company B.
5. Termination: Either party may terminate this agreement upon 30 days` written notice to the other party.
6. Confidentiality: Both parties agree to keep all information pertaining to this agreement confidential and to not disclose it to any third party without the other party`s written consent.
7. Governing Law and Jurisdiction: This agreement shall be governed by and construed in accordance with the laws of the state of [insert state] and any dispute arising out of or in connection with this agreement shall be subject to the exclusive jurisdiction of the courts of [insert city].
Conclusion:
A schedule agreement is a vital part of any procurement or supply chain management operation. It allows for long-term planning and relationship building between a buyer and a supplier. A well-written schedule agreement should clearly outline the scope of work, delivery schedule, pricing and payment terms, intellectual property rights, termination, confidentiality, and governing law and jurisdiction. By including these key elements, both parties can ensure a successful and beneficial business relationship.