The Agreement For Supply Of Goods On Credit is designed for commercial transactions in Canada where a supplier provides goods to a purchaser under credit terms rather than requiring immediate payment. This document is essential when establishing ongoing supply relationships that require flexible payment arrangements, particularly in B2B contexts. It incorporates provisions compliant with Canadian federal and provincial laws, including the Sale of Goods Act, Personal Property Security Act, and relevant credit legislation. The agreement covers crucial elements such as credit limits, payment terms, security arrangements, delivery conditions, quality standards, and risk allocation. It's particularly useful for businesses looking to establish long-term supply relationships while managing credit risk and ensuring legal compliance with Canadian commercial law requirements.
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1. Parties: Identification of supplier and purchaser with full legal names and addresses
2. Background: Context of the agreement, establishing the supplier's business and purchaser's need for goods on credit
3. Definitions: Definitions of key terms used throughout the agreement
4. Supply Terms: Core terms of supply including order process, delivery requirements, and acceptance procedures
5. Credit Terms: Credit limit, payment terms, interest rates, and credit period details
6. Price and Payment: Pricing structure, invoicing procedures, and payment mechanisms
7. Quality and Standards: Quality requirements, applicable standards, and inspection rights
8. Delivery and Risk: Delivery terms, transfer of risk, and shipping arrangements
9. Title and Security: Retention of title provisions and security arrangements for credit
10. Warranties and Representations: Warranties regarding goods quality and parties' capacity
11. Default and Remedies: Events of default, consequences, and available remedies
12. Term and Termination: Duration of agreement and termination provisions
13. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law
1. Insurance: Required when high-value goods are involved or specific insurance requirements exist
2. Intellectual Property: Needed when supplied goods involve patents, trademarks, or other IP rights
3. Exclusivity: Optional section for exclusive supply arrangements
4. International Trade Terms: Required for cross-border supply arrangements
5. Force Majeure: Optional but recommended for long-term supply arrangements
6. Personal Guarantee: Required when additional security is needed for credit terms
7. Compliance with Laws: Detailed compliance section needed for regulated industries
8. Data Protection: Required when personal data processing is involved in the transaction
1. Schedule A - Goods Specification: Detailed description of goods to be supplied including specifications and standards
2. Schedule B - Pricing Schedule: Detailed pricing information, including any volume discounts or price adjustment mechanisms
3. Schedule C - Credit Terms: Detailed credit limits, interest calculations, and payment schedules
4. Schedule D - Delivery Requirements: Specific delivery locations, timeframes, and special handling requirements
5. Schedule E - Quality Standards: Detailed quality requirements and testing procedures
6. Appendix 1 - Order Form Template: Standard form for placing orders under the agreement
7. Appendix 2 - Personal Guarantee Form: Template for personal guarantee if required
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Wholesale Trade
Retail
Construction
Agriculture
Mining
Industrial Equipment
Food and Beverage
Automotive
Electronics
Chemical Products
Textiles
Building Materials
Medical Supplies
Office Equipment
Relevant Teams
Legal
Finance
Procurement
Sales
Credit Control
Risk Management
Operations
Supply Chain
Treasury
Accounts Receivable
Commercial
Relevant Roles
Procurement Manager
Credit Manager
Commercial Director
Supply Chain Manager
Chief Financial Officer
Accounts Receivable Manager
Sales Director
Contract Manager
Legal Counsel
Risk Manager
Operations Director
Treasury Manager
Finance Director
Commercial Lawyer
Credit Controller
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