What is this purchase agreement template?
The basics: A purchase agreement is a contract that outlines the terms under which goods / products and/or services are being purchased. It is a contract between the supplier / seller of goods and/or services and the customer / purchaser that is buying those goods and/or services.
Protect the customer: A purchase agreement is needed to protect buyers / customers when purchasing goods and/or services by clearly defining how services will be performed, how goods will be delivered, and the obligations on the supplier in relation to the goods and services provided. It will also need to include details of the purchaser’s rights if things go wrong.
How does it work?: This purchase agreement template can be used to create a written contract between a buyer / purchaser and the supplier (that both parties will sign), or alternatively to produce a set of terms and conditions that the buyer / purchaser can incorporate into its contract with suppliers in another way (e.g. by referring to those terms and conditions in its purchase order forms). Where the terms and conditions option is used, please see our order form template which can be used to incorporate the terms and conditions into a contract with the supplier.
When should I use this purchase agreement template?
When to use: The purchase agreement template should be used if you are looking to purchase physical goods and/or services from a supplier. It is suitable for business customers (B2B). This purchase agreement template assumes that both the customer and the business supplying the goods (the supplier or service provider) are based or are incorporated in the UK, and that English law applies to the contract.
Drafted from the buyer’s perspective: Docue’s purchase agreement template is drafted favourably to the purchaser / customer and assumes that the party drafting it is therefore the customer. If you are the supplier of goods and/or services, please use one of the following supply contracts instead:
When does Docue’s purchase agreement template include?
Key clauses: Docue’s customisable purchase agreement template covers, among other areas, the following matters:
- Scope of supply: the template includes the ability to clearly define what goods and services are being provided, so there can be no dispute over what is expected to be provided to the customer and what the customer is purchasing;
- Delivery details: key details relating to the delivery of the goods (such as when and where they will be delivered) can be set out in the template;
- Supplier undertakings: the key obligations relating to how the goods are to be supplied and how the services will be performed are included. This includes optional warranties in relation to the goods being purchased;
- Faulty goods: provisions can be included that set out what happens when faulty goods are provided, including remedies for the customer where this happens;
- Liability clause: the template includes a comprehensive liability clause that sets out the limitations of liability, ensuring the party drafting the agreement can mitigate their exposure to risk;
- Payment terms: payment terms are included so it is clear exactly what has been agreed between the parties in relation to price and payment; and
- Termination rights: a section can be included that sets out each party’s right to bring the agreement to an end early.
Why Docue?
Created by lawyers: Docue’s purchase agreement template has been drafted by business lawyers and is constantly kept up to date by those lawyers. It has lawyer-crafted guidelines to steer you through every stage of the process, so that you end up with an agreement which is right for your business and has been customised to your needs.
Simple to use: Docue allows you to create, customise, sign, store, and manage your agreements all in one place. Simply click through the intelligent tick box options and text box answers and you’ll have a comprehensive, tailored, and ready-to-use purchase agreement template in no time.
Tags: purchase agreement template, purchase terms, purchase contract, purchase agreement, purchase of goods and services, buyer terms, purchase order
