Know More About Vendor Agreement

What Is Vendor Agreement

A vendor contract (otherwise known as a vendor agreement) is a business contract between two parties covering the exchange of goods or services in return for compensation. Vendor contracts establish the business relationship conditions and include details on each party’s obligations under the contract.

What is included in vendor contract

A vendor agreement is a legal document that states the stipulation of the work to be performed by a contractor for your business. It sets the provisions regarding the type and quality of services to be provided, duration, cost, liability, etc. of the vendor’s services.

 

What is vendor agreement in India

Vendor Agreement is a legal document defined under the Indian Contract Act, 1872. It sets the provisions regarding the quality of services to be provided, cost, liability, duration, and other conditions to be fulfilled by the vendor.

What is importance of vendor documents

Importance of Vendor Agreement Documents Terms of Agreement: Vendor Agreement documents all the terms for both the parties like delivery time, payment terms, ensuring no misunderstanding occurs.

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