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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 Arkansas, 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. Arkansas state statutes and the Uniform Commercial Code (UCC), which Arkansas has adopted, govern these agreements. The UCC sets forth general principles for the sale of goods, including the rights and obligations of the buyer and seller. It is important for businesses to carefully draft and review product supply agreements to ensure that they are in compliance with applicable laws and that their interests are adequately protected. An attorney can provide valuable assistance in drafting, reviewing, and negotiating the terms of a product supply agreement to align with the business's objectives and legal requirements.

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Business

product supply agreement

Wall Street Quality Legal Services Customized for Main Street Businesses

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Arkansas State Code

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Business

product supply agreement

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