Write a Credit Terms Agreement between Supplier and Buyer

I need a Lawyer preferably from India to write a credit terms agreement.

The Brief overview as follows

Supplier is a Private Limited Company from India supply Goods (Sea Salt) to Buyer a Private Limited Company from SriLanka.

Current Business Model


- In Sri Lanka , supplier has a marketing agent a Private Limited Company(Commission Agent)

- Commission Agent will market Supplier products and get orders.

- Typically Buyer places order directly to Supplier.

- Commission agent will coordinate order fulfillment, follow up etc.

- When Supplier goods are delivered and accepted by Buyer, Buyer pays the invoice value to Supplier.

- Upon receiving payment, supplier pays commission to Marketing Agent.

New Business Model


- Now Supplier would like to give $$5000 worth of credit Limit for 30 Days to buyer.

- Each order may be of worth $1500. It comes with 30 days credit terms.

-As long as the credit limit is not crossed, supplier will continue to supply [url removed, login to view] customer places order.

- If any payment is due, even if customer places order, and total credit value is not crossed, supplier will not supply any goods.

- Supplier want buyer to give 5% of credit limit as Payment guarantee Deposit. This amount will be returned to buyer if buyer paid all dues and requested to return the deposit.

- If buyer do not make due payment after 90 days , this 5% Payment guarantee Deposit will be forfeited.

- In this credit terms agreement one more clause to be added.

- In case of of any payment delay beyond 90 days, the buyer takers a personal guarantee to return 50% of due. Failing which Supplier has high priority to recover from Buyers personal assets.

Please add other clauses as required. Please note that the buyer should not sue the Marketing agent.

In some cases buyer simply say quality is an issue so he is not obligated to pay. so we need to protect supplier as well as buyer.

So upon receiving consignment, buyer should inspect and test for equality with in 3 days. Buyer should submit a one page report for acceptance with Invoice number, If report is not received within 3 (three) days it is agreed that the goods are in good condition and accepted.

In case of quality disputes, buyer and supplier comes to a mutual agreement mediated by agent. If not agreeing supplier has the rights to resell the goods to others (supplier/commission agent has the right to use the brand name mentioned in the consignment. Supplier/commission agent is not obligated to pay any royalty or any damages to buyer). Supplier pays for the actual cost incurred by the buyer for clearing the consignment subject to maximum cap limit of 20% of returnable goods value. Buyer agree to support using the premises for 30 days. Buyer provide all necessary support during this 30 days.

-Your Task

Analyse the scenario. factor in other use cases, add other clauses I might have missed.

Write a legal credit terms agreement.

Kemahiran: Kontrak, Perundangan, Kajian Undang-undang, Penulisan Undang-Undang, Penulisan Penyelidikan

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Tentang Majikan:
( 7 ulasan ) Bangalore, India

ID Projek: #15375973

Dianugerahkan kepada:


Drafting credit terms agreement Relevant Skills and Experience I am lawyer with more than 8 years of experience. You need to pay me only if you are satisfied with my [login to view URL] just one chance. Proposed Milestone Lagi

₹2000 INR dalam sehari
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Hi, I am a lawyer based in India and have extensive legal drafting and research work experience. I have read the project description and can draft the same for you.

₹5000 INR dalam 2 hari
(43 Ulasan)

Hi There! I have expertise in drafting contracts and agreements that are airtight and without any grey areas. Protecting the interest of my employers is what I strive for. Relevant Skills and Experience 1. We are tea Lagi

₹3333 INR dalam 5 hari
(51 Ulasan)

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