THIS ARTICLE OF AGREEMENT IS MADE THIS _____ day of _____, between _____, through its Authorized Signatory, _____ age _______ son of _________________ (hereinafter called party of the first part) and _____, through _____ (hereinafter called the party of the second part) where by it has been agreed and declared by and between the parties here to as follows :-
1. The expressions the party of the first part and party of the second part shall include their respective heirs, executors, representatives, and assigns.
2. Where as the party of the first part is running its business of _____ for _____ of _____ etc.
3. And whereas the party of the second part is desires and placing orders for the supply of the _____ various types and _____ in various sizes etc. against the demand of _____ purposes.
4. That it is agreed and mutually decided between the parties that the complete unit of _____ shall be shifted to the _____ on it situated at _____, henceforth and all the facilities shall be available and provided by the _____ party for the smooth functioning and _____ of _____ and to achieve the required target.
5. That the supply of raw materials shall be made by the _____ party in advance while facility of the orders of the required quality of the components/products to the _____ party.
6. That the _____ planning for the monthly schedule shall be mutually discussed and decided by both the parties in advance before the start of the _____ month.
7. That all the development _____ to be supplied by the _____ party including all _____ to be paid by the _____ party.
8. That the payment shall be made by the _____ party against each and every dispatch/consignment of the _____ products.
9. That the regular payments shall be made to the salary wages/electricity telephone, etc. even if the supply of raw material is delayed by the _____party.
10. That _____ solely the in charges of _____ and there will be no interference of the staff members of the _____ party.
11. That the staff of the _____ party may inspect the quality of the products before dispatch of consignment.
12. That the rejections and scrap should be controls with in __% and same shall be sold by the _____ party.
13. That the agreement shall be binding upon both the parties for a period of ____ years from the date of execution of the agreement and shall be extended further with mutated consent of both the parties.
14. That the termination agreement shall be effected by giving on __ month notice by either side. In that case all the pending payments should be cleared with in __ months time and the _____ party shift their machinery and other assets to another place without any hindrance of the _____ party and shall not raise any objections in any manner for shifting of machinery
15. That any of the terms and conditions mentioned herein above may be altered, amended, modified or improved changed with the mutual consent of both the parties in writing.
16. That the purchase order issued by the _____ party shall be always treated as the part of this agreement.
IN WITNESS WHEREOF BOTH THE PARTIES HAVE SET THEIR RESPECTIVE HANDS ON THIS _____.
Party of the first part
Party of the second part