It establishes the basic agreement between the parties for the sale and purchase of products defined in a schedule. These products may be modified by agreement. Who can use this license? The inventor or designer of a product may use this license for manufacture and sale. What is this license used for? The license specifies the agreed terms under which the. The buyer accepts the purchase and the supplier undertakes to sell the products to the buyer under the conditions set out below. No conditions other than those set forth herein, whether contained in Buyer`s order or elsewhere, shall be binding on Supplier unless Supplier consents in writing. Receipt of such confirmation by Buyer without immediate written objection constitutes Acceptance by Buyer of all terms and conditions set forth herein. Terms not defined in these Terms and Conditions shall have the meaning given to them in the Seller`s Sales Confirmation with reference to these Terms. This allows the supplier to terminate if the buyer is in default of payment and to terminate the buyer if the supplier commits a material breach of contract. Either party may terminate in the event of the insolvency of the other party.

Here, precautions apply as the prices are indicated in the appendix at the beginning of the contract. Whether transport is included in the price or not, as indicated in point 6.1, is a matter of contact contract. Departure. The non-defaulting party (i) all such settlement amounts due to the defaulting party, plus any performance guarantees or guarantees then held by the non-defaulting party, plus (at the discretion of the non-defaulting party) all amounts or any other amount due to the defaulting party, with (ii) all such settlement amounts to which the non-defaulting party is entitled; set-off, plus any performance guarantee or guarantee then held by the defaulting party, plus (at the option of the non-defaulting party) all or part of the other amounts due to the non-defaulting party, including all amounts calculated in accordance with Article 8 above, so that all such amounts will be deducted from a single liquidated amount payable by one party to the other. The defaulting party shall pay this amount to the non-defaulting party within one working day of notification by the non-defaulting party, and if the non-defaulting party has the obligation to pay, it shall pay the defaulting party within one working day of the determination of the amount to be paid. It is a reasonably balanced document between the seller and the buyer. The terms of the contract include: (g) A cross-defect has occurred and is in progress. Price adjustments in a long-term contract will usually be necessary, and we assumed in point 6.2 that there might be a formula for price adjustments. This could, for example, provide for an annual price adjustment based on the retail price index published by the supplier`s government. Alternatively, prices may be adjusted by reference to the Supplier`s price list or, if there is no formula, there could be a negotiation period of 3 months, and if no agreement can be reached, the Supplier has the right to terminate the contract (6.3). Sometimes an agreement like this includes «Take or Pay» terms. In such a case, if the buyer does not take the minimum quantity, he will pay the shortfall.

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