What to establish.
WHAT TO AGREE
What is supplied, specifically Price and how it may change Lead times Payment terms What happens with faulty or late goods How either party ends it
THE PRICE CHANGE CLAUSE
How much notice you get.
Important where costs are volatile.
LEAD TIMES
What is promised, and what happens if it is missed.
FAULTY GOODS
Who bears the cost, and what the process is.
WHAT TO ESTABLISH BEFORE FIRST ORDERING
That the business exists Their payment details, verified by phone What they actually supply
MINIMUM ORDERS
If they apply, know before committing.
EXCLUSIVITY
If they ask for it, understand what you are giving up.
WHAT TO KEEP
Every agreement, and every price list.
WHAT TO REVIEW
Whether the terms still suit as your volume changes.
Better terms are frequently available and rarely offered unprompted.
