Business Law

A product supply agreement is an agreement between a supplier and a buyer for supply and purchase of products. The agreement specifies the terms upon which the parties agree to supply and purchase products from each other. Globalization has had a tremendous impact on trade and business all over the world. New products flood the market every year, and before a product reaches the public, it may pass through the hands of international manufacturers, distributors, retailers, or buyers. It has thus become increasingly important to make sure each party’s rights and responsibilities are established in the beginning of a business relationship.