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product supply agreement

A product supply agreement is an agreement in which a supplier sells products to a business, and specifies the terms for the transactions, including the price, timing, quantities, delivery, shipping, payment terms, exclusivity, return of defective or nonconforming goods, and return of unsold goods. A supplier may be a distributor, wholesaler, dealer, or merchant.

In Ohio, a product supply agreement is a legally binding contract between a supplier and a business that outlines the terms and conditions of the sale and purchase of products. These agreements typically cover various aspects such as pricing, order quantities, delivery schedules, shipping logistics, payment terms, and exclusivity clauses. They may also include provisions for the return of defective or nonconforming goods, as well as unsold goods. Ohio's Uniform Commercial Code (UCC) governs transactions involving the sale of goods, and these agreements must comply with relevant state statutes and federal laws. It is important for businesses to ensure that such agreements are clear, detailed, and enforceable to avoid disputes. Businesses often consult with an attorney to draft or review product supply agreements to ensure that their legal rights are protected and that the agreements are in compliance with applicable laws.

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