Consignment stock agreement—pro-supplier
Produced in partnership with Paul de Vince and Jagdeep Singh of Gateley Plc
Consignment stock agreement—pro-supplier

The following Commercial precedent Produced in partnership with Paul de Vince and Jagdeep Singh of Gateley Plc provides comprehensive and up to date legal information covering:

  • Consignment stock agreement—pro-supplier
  • Background
  • 1 Definitions and interpretation
  • 2 Supply of goods
  • 3 Exclusivity
  • 4 Order commitment
  • 5 Forecasts
  • 6 Orders
  • 7 Delivery
  • 8 Consignment
  • More...

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Notes: Brexit—drafting boilerplate clauses and Brexit—drafting commercial clauses.

This Agreement is made on [date]

Parties

  1. 1

    [insert name of supplier] [of OR a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at] [insert address] (Supplier); and

  1. 2

    [insert name of customer] [of OR a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at] [insert address] (Customer)

(each of the Supplier and the Customer being a party and together the Supplier and the Customer are the parties).

Background

    1. (A)

      The Supplier conducts the business of supplying [insert description] to other businesses.

    1. (B)

      The Customer conducts the business of [insert description].

    1. (C)

      The parties have agreed that the Supplier will supply goods to the Customer on the terms set out in this Agreement.

    1. (D)

      To improve the efficiency of the Customer's supply chain the parties contemplate that the Supplier shall supply Goods to the Customer on a consignment stock basis and to allow the Customer to hold a consignment of the Goods on the Customer's premises.

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this Agreement:

        [Actual Spend

        1. has the meaning given in clause 4.2;]

        Affiliate

        1. means any entity that directly or indirectly Controls, is controlled by, or is

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