Blanket Order Contract Sample
A blanket order contract, also known as a blanket purchase agreement or a blanket purchase order, is a contract between a buyer and a supplier that outlines the terms and conditions for purchasing goods over a specified period of time. Blanket order contracts are commonly used by businesses and government agencies to streamline their purchasing processes and ensure a steady supply of goods.
A blanket order contract can be a beneficial way for both the buyer and the supplier to establish a long-term business relationship. The buyer benefits from having a steady supply of goods at a pre-negotiated price, while the supplier benefits from having a guaranteed stream of revenue for a specific period of time.
To illustrate how a blanket order contract works, here is a sample agreement:
[Company Name] Blanket Order Contract
This Blanket Order Contract (“Agreement”) is made and entered into on [Date] between [Buyer Company Name] (“Buyer”) and [Supplier Company Name] (“Supplier”).
1. Effective Date and Term
This Agreement shall become effective on [Effective Date] and shall remain in effect until [Expiration Date], unless terminated earlier in accordance with the terms of this Agreement.
2. Goods and Services
Supplier shall provide Buyer with the goods and services specified in the attached Exhibit A (“Goods and Services”) in accordance with the terms and conditions of this Agreement.
3. Price
The price for the Goods and Services shall be as specified in Exhibit A and shall remain fixed for the term of this Agreement.
4. Delivery
Supplier shall deliver the Goods and Services to Buyer as specified in Exhibit A. Buyer shall be responsible for all shipping and handling charges.
5. Payment
Buyer shall pay Supplier for the Goods and Services within [Number of Days] days of receipt of an invoice from Supplier.
6. Termination
Either party may terminate this Agreement at any time upon [Number of Days] days’ written notice to the other party.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of law provisions.
8. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether oral or written.
In conclusion, a blanket order contract can help businesses and government agencies streamline their purchasing processes and ensure a steady supply of goods. By establishing a long-term business relationship with a supplier and negotiating a pre-negotiated price, both parties can benefit from the stability and peace of mind that comes with a well-crafted agreement.
- Posted by adriel
- On November 7, 2021
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