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Requirements contract

Requirements contract.

This contract of sale is made in duplicate _________[date] between the parties, for goods, and on terms, following:

1. Seller: _________, a _________[state] corporation [or as the case may be] located at _________.

2. Buyer: _________, a _________[state] corporation [or as the case may be], located at _________.

3. Goods: Quantity and quality: A minimum of _________[e.g., pounds] of _________ per _________[e.g., week], or more, as required by buyer for actual use in its business.  The _________ is to be of the same _________ grade and uniform quality as _________ sold buyer by seller, in _________[date].

4. Price and delivery: Price ____¢ per _________ net f.o.b. _________; delivery to be made in installments of a minimum of _________ daily. Price to vary only in the event of war, riot, rebellion, or other contingencies of extraordinary nature affecting the market; then price to be market price.

5. Terms: Each minimum installment of _________ per day to be paid for net _________ days after shipment.

6. Life of contract: To commence on _________[date] and to expire on _________[date].

7. Notice of increase of minimum: In the event buyer seeks to increase the requirement of _________ per _________, deliverable in installments of _________ per day, buyer is to give seller _________ days' written notice at its office.

8. Guarantee of supply: Seller reserves to itself the right to sell _________ to whomever it sees fit but at all times to keep the requisite stocks to meet the requirements of buyer.

9. Excuses for delays in deliveries: Deliveries are subject to delay on account of strikes, lockouts, floods, fires, accidents, repairs to machinery, weather, or transportation conditions, and other causes beyond seller's control.



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