contract of purchase

PURCHASE CONTRACT

This Purchase Contract (“Contract”) is entered into on ____________________ (“Effective Date”) by and between _____________________ (“Seller”) and ____________________ (“Buyer”).

I. Products/Services

Seller agrees to sell, and Buyer agrees to purchase, from Seller, the following products/services (“Products/Services”): ______________________________________________________ ____________________________________________________________________ ____________________________________________________________________.

II. Specifications

The specifications for the Products/Services are described below: ____________________________________________________________________ ____________________________________________________________________ ____________________________________________________________________.

III. Price and Payment Terms

The total price for the Products/Services is ______________________ (“Price”). Buyer will pay the Price to Seller, in full, by ___________________ (“Payment Date”).

IV. Delivery

Seller and Buyer agree on the following delivery terms: ____________________________________________________________________ ____________________________________________________________________ ____________________________________________________________________

V. Warranty

Seller warrants that the Products/Services provided under this Contract will be free from defects in material and workmanship for a period of ______________________ (“Warranty Period”).

VI. Confidentiality

Both Seller and Buyer agree to keep all confidential information (“Confidential Information”) disclosed by each other, or which either of them has obtained or will obtain during the course of this Contract, strictly confidential.

VII. Intellectual Property

The intellectual property rights, including but not limited to, copyrights and patents related to the Products/Services are exclusively owned by Seller, and Buyer shall not have any rights or interests in the same.

VIII. Representations and Warranties

Seller and Buyer hereby represent and warrant that:

a) They are each fully authorized and competent to enter into this Contract.

b) They each have the legal capacity to enter into this Contract and can perform their obligations under it.

IX. Governing Law

This Contract and any disputes arising out of or related to it shall be governed by the laws of _______________________.

X. Dispute Resolution

In case of disputes arising out of or related to this Contract, the parties shall use best efforts to resolve the disputes through good faith negotiation. In case no agreement is reached, the parties agree that they shall refer the matter to mediation. If mediation fails, then the dispute shall be finally resolved by arbitration.

XI. Amendment

This Contract may be amended by the written agreement of the parties or their duly authorized representatives.

XII. Waiver

No waiver of any right arising out of or related to this Contract shall be effective unless in writing and signed by the parties or their duly authorized representatives.

IN WITNESS WHEREOF, the parties have executed this Contract as of the Effective Date.

Seller:

Buyer:

This Agreement is made and entered into, in _______ , on _______, by and between ___________ residing in, _______________________________________ (hereinafter referred to as the Purchaser), and the ____________ residing in _______________________________ (hereinafter referred to as the Seller).

WHEREAS:

A. The Seller has expertise and experience in the purchase and resale of items or services for which the Purchaser wishes to acquire;

B. The Purchaser wishes to acquire from the Seller, and the Seller wishes to provide to the Purchaser, the items or services referred to in Section 1 hereof;

C. The Purchaser wishes to protect its own interest in the services and items purchased, and the Seller wishes to ensure that the Purchaser will be properly billed for such services and items;

NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and conditions hereinafter set forth, the parties agree as follows:

1. The Seller hereby agrees to supply to the Purchaser the following items or services: ______________

2. The price payable by the Purchaser to the Seller for the items or services referred to in Section 1 hereof shall be ________. Payment shall be made by ____________

3. The delivery of the items or services shall be completed no later than ___________.

4. The Purchaser shall have the right to inspect the purchased items or services for quality, quantity, or other matters prior to final acceptance.

5. The Purchaser may terminate this Agreement at any time, prior to final acceptance of the purchased items or services, upon written notice of such termination to the Seller, provided that the Seller shall be entitled to payment for any items or services provided prior to such notice of termination.

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed the _______ day of ________________, _______.

______________________________

Purchaser

______________________________

Seller