Supply of Goods Agreements
Business to business sale of goods transactions often take the form of long-term supply agreements. In some cases, the supplier will be a manufacturer. In others, they may source goods from a range of suppliers for further sale on to their own customers.
Simply-Docs has long offered a range of Supply of Goods Agreements and these documents have now received substantial updates.
This range of documents has been updated to incorporate new provisions for liability and indemnity, adding further protection for both parties. In certain circumstances, the supplier is required to indemnify the buyer (for example, where a third party takes legal action against the buyer where the goods sold by the supplier breach that third party's intellectual property rights). In other circumstances, the buyer may be required to indemnify the supplier (where, for example, it has sold the goods under a particular brand name or trade mark and a third party has taken legal action against the supplier as a result). Beyond the scope of the indemnity provisions, liability is tightly but fairly limited for both parties.
Other new provisions in these documents include a range of standard or "boilerplate" clauses designed to add more certainty and clarity from both practical and legal perspectives.
The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.