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8 Scottie Pippen shoes. Have the Right to Audit. As a buyer, incorporate a clause that permits audits of the sellers financial data and visits to the sellers factory (with prior notice) to guarantee that the seller is not unlawfully manufacturing the same products for other uses Scottie Pippen shoes.9. Most Favorable Price. A most favorable price term should be incorporated into the agreement to ensure that other buyers will not be able to make an equivalent purchase for the same goods for a lower price in the future Scottie Pippen shoes.10. Define Clear Quality Control Mechanisms and Specifications. Ensure the agreement provides clear, detailed, and previously agreed upon quality specifications, as well as a description of the inspection process (i barkley shoes for sale.e. who will inspect the product, when, and how). The seller should provide sample products for reference and records. Make sure an independent and local third party conducts quality control inspections during production or before shipping the goods to the buyer. State that the results of these inspections are binding. It is common practice for the buyer to select and pay for this service provider.11. Clearly State Warranties.The objective of spending time and energy drafting a purchase agreement is to minimize your liability in all transactions. Reasonably state everything you need in the warranty clause, and do not simply rely on your insurance policies.12. Sufficient Indemnifications.Claim sufficient indemnifications in order to cover your potential losses in any future disputes, including the attorney fees you may be required to spend.13. Define Clear Mechanisms to Handle Returns.Specify deadlines to report product defects and returns (e.g. 10 days after shipping). Make sure the term defect is clearly defined and understood by both parties. Document customer complaints and require products to be inspected by you or a mutually agreed upon third party to be deemed defective. Have clear deadlines and procedures to reduce misunderstandings and pass liability to the other party ifthey fail to adhere to the established system.14. Right to Offset.As a buyer, make sure you have the right to offset any amount owed by the seller against the product payments. This must be clearly stated as the right is not usually granted.15. No Right to Outsource.As a buyer, make sure the seller is forbidden from outsourcing the function of manufacturing and/or supplying to a third party to ensure the quality of the products unless prior written consent is given.16. State Termination Rights.State very clearly the circumstances under which the agreement can be terminated. These usually include mutual consent and breach of specific clauses by one of the parties.17. Select the Governing Law That Better Protects Your Rights.Remember that any jurisdiction can be used as long as both parties agree. Even though your first impulse may be to use the jurisdiction where your company is located, you should check with your lawyer to explore other options on a case-by-case basis. In some cases, choosing the other partys jurisdiction may better facilitate seizure of assets in case of a dispute.18. Prepare a Standard Agreement in Advance.As Louis Pasteur once said, Chance favors the prepared mind. The best way to ensure your interests are protected in every transaction is to develop your own template agreement with the assistance of an experienced commercial lawyer and use it as a baseline during negotiations.19. Sign with a Real Party of Interest, Not a Paper Company.Ensure the other party has assets for future enforcement if a dispute arises. Remember that purchase agreements are only binding for the entities that sign it, regardless of who actually receives the product. If the agreement is signed with a paper company that holds no assets, you are left with little or no legal recourse in case of a dispute.Always request that the agreement be signed by the global or regional headquarters, and be very suspicious if one party suggests using an offshore entity. Whenever possible, conduct a background check to make sure the signing entity has a previous track record of successful sales and assets (real estate, production facilities, bank accounts, etc.) that can be seized in case of dispute.In the case of a representative office, obtain an authorization letter from the real party of interest, naming the office as its representative. The authorization letter should state that the real party of interest is responsible for payment of orders placed in their name by the representative office.20. State Explicitly Any Geographic Limitations for Distribution.If product distribution is to be limited to a specific geographic area, this should be negotiated beforehand and stated clearly in the agreement.
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