Contract Checklist

Vendor Agreement Review Guide

Supply chain disputes can halt a business. A robust vendor agreement ensures quality control and protects you against late deliveries.

Critical Red Flags

Liquidated Damages (Excessive): Penalties for delays that exceed the actual value of the goods.

Unilateral Termination: Client can cancel the order after you've already purchased raw materials.

Indemnity for Third-Party Parts: Making you liable for failures in sub-components you didn't manufacture.

Vague QC Standards: 'To be of acceptable quality'—too subjective and leads to payment delays.

Must-Have Clauses

Quality Acceptance Window: Fixed time (e.g., 48 hours) for the client to inspect and 'accept' or 'reject'.

Payment via MSME Samadhaan: Mentioning MSME status to ensure your 45-day payment right in India.

Force Majeure (Supply Interruption): Protection if raw materials are blocked by generic port delays or war.

Retention Percentage: Limiting the 'holdback' amount to 5-10% until final delivery.

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