When it comes to manufacturing agreements, it is crucial to have a well-drafted document that can help both parties understand their rights and obligations. In India, manufacturing agreements are commonly used in the manufacturing sector to establish a mutually beneficial relationship between the manufacturer and the client.
A manufacturing agreement outlines the terms and conditions between the manufacturer and the client, including pricing, delivery schedules, quality standards, and intellectual property rights. By having a written agreement in place, both parties can avoid misunderstandings that could lead to disputes.
To help you get started with your manufacturing agreement, we’ve provided a sample agreement below.
[COMPANY NAME]
MANUFACTURING AGREEMENT
THIS MANUFACTURING AGREEMENT (“Agreement”) is made on [DATE], by and between [COMPANY NAME] (hereinafter referred to as “Manufacturer”), having its registered office at [ADDRESS], and [CLIENT NAME] (hereinafter referred to as “Client”), having its registered office at [ADDRESS].
WHEREAS, the Client desires to manufacture [PRODUCT] (the “Product”) and the Manufacturer has the ability, expertise, and facilities to manufacture the Product.
NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties hereby agree as follows:
1. Manufacturing Services
The Manufacturer agrees to manufacture the Product in accordance with the specifications, drawings, or samples provided by the Client.
2. Delivery
The Manufacturer shall deliver the Product to the Client within [NUMBER] days from the date of receipt of the order. Delivery shall be made to the address provided by the Client.
3. Price
The price of the Product shall be [PRICE], which shall be payable by the Client upon receipt of the Product.
4. Payment Terms
The Client shall pay [AMOUNT] as an initial payment upon the execution of this Agreement. The balance amount shall be paid upon receipt of the Product.
5. Quality Standards
The Manufacturer shall manufacture the Product in accordance with the quality standards and specifications set forth by the Client.
6. Intellectual Property Rights
The Client shall retain all the intellectual property rights, including patents, trademarks, and copyright, for the Product.
7. Confidentiality
The parties agree to maintain the confidentiality of all information related to this Agreement, including but not limited to pricing, design, and manufacturing processes.
8. Termination
Either party may terminate this Agreement upon [NUMBER] days’ written notice to the other party.
9. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of India.
10. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes any other agreements, representations, or warranties, whether oral or written, related to the Product.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
[COMPANY NAME]
______________________________
[NAME], [TITLE]
[CLIENT NAME]
______________________________
[NAME], [TITLE]
By using this manufacturing agreement sample, you can customize the terms and conditions to fit your specific needs. You should ensure that all parties involved read and understand the agreement before signing. By doing so, both parties can establish a clear understanding of their roles and responsibilities, which can lead to a successful business relationship.