A vendor agreement is a business contract in which a seller of goods or services agrees to sell specific goods or services to a business, and the business agrees to buy the specific goods or services. A vendor agreement should be in writing and include specific terms such as (1) a description of the products or services (the scope); (2) the price of the products or services; (3) payment terms; (4) the time period during which the products or services will be delivered; (5) the circumstances under which the parties may terminate the agreement; (6) designation of confidential information and the agreement to keep it confidential; (7) disclaimers of warranties; (8) indemnifications; and (9) the place and manner of resolving disputes related to the agreement.

In Arkansas, a vendor agreement is a legally binding contract between a seller and a business for the provision of goods or services. Arkansas law does not prescribe a specific format for these agreements, but it does enforce them as long as they meet general contract requirements such as mutual consent, a lawful object, and sufficient consideration. The agreement should be in writing to ensure clarity and enforceability, particularly for the terms outlined such as the scope of products or services, pricing, payment terms, delivery timelines, termination conditions, confidentiality clauses, warranty disclaimers, indemnification provisions, and dispute resolution mechanisms. Written contracts provide a clear record that can be referred to in case of disputes. When drafting a vendor agreement, it is advisable to consult with an attorney to ensure that the contract complies with all relevant state statutes and federal laws, and that it adequately protects the interests of the parties involved.