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The Development And Supply Agreement is essential for businesses requiring custom-developed products or systems followed by continued supply. This document is particularly relevant in Hong Kong's dynamic business environment, where technology development and manufacturing relationships often cross borders. It's commonly used when a customer needs specific products developed to their requirements and wants to secure a reliable supply chain for these products after development. The agreement covers crucial elements such as development specifications, milestone deliverables, acceptance testing, quality standards, pricing for both development and supply phases, and intellectual property rights. Operating under Hong Kong law, it provides a robust framework for protecting both parties' interests while ensuring clarity in long-term commercial relationships. The document is especially valuable for technology, manufacturing, and innovation-driven sectors where custom development is followed by regular supply needs.
