This document is essential for organizations seeking to establish and maintain strategic supplier relationships in Malaysia. A Preferred Vendor Agreement is typically used when a company identifies a supplier as a key business partner and wishes to formalize preferential terms for ongoing procurement of goods or services. The agreement includes comprehensive terms covering commercial, operational, and legal aspects of the relationship, ensuring compliance with Malaysian legislation including the Contracts Act 1950, Competition Act 2010, and relevant industry regulations. It's particularly valuable for organizations with regular, high-volume procurement needs who want to secure reliable supply chains, preferential pricing, and priority service levels while maintaining compliance with local laws and regulations. The document serves as a foundation for long-term business relationships and typically includes detailed provisions for pricing, service levels, quality standards, and operational procedures.
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1. Parties: Identification of the parties entering into the agreement, including full legal names and registration details
2. Background: Context of the agreement, relationship between parties, and purpose of establishing preferred vendor status
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. Appointment and Scope: Terms of appointment as preferred vendor, scope of products/services covered, and any exclusivity provisions
5. Duration and Renewal: Initial term of the agreement and conditions for renewal or extension
6. Ordering Process: Procedures for placing and accepting orders, including minimum order quantities if applicable
7. Pricing and Payment Terms: Pricing structure, payment terms, invoicing requirements, and price review mechanisms
8. Delivery and Performance: Requirements for delivery of goods/services, performance standards, and acceptance criteria
9. Quality Standards: Quality requirements, compliance with specifications, and quality control procedures
10. Warranties and Representations: Warranties regarding products/services, capacity to contract, and compliance with laws
11. Compliance and Records: Regulatory compliance requirements and record-keeping obligations
12. Confidentiality: Protection of confidential information and trade secrets
13. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification obligations
14. Termination: Grounds for termination, termination procedures, and consequences of termination
15. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
16. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement
1. Performance Metrics: Detailed KPIs and performance measurement criteria - include when specific performance standards are crucial
2. Volume Commitments: Minimum purchase obligations and volume-based incentives - use when there are specific volume expectations
3. Technology Integration: Requirements for system integration and electronic ordering - include for technology-dependent relationships
4. Environmental Compliance: Specific environmental standards and certifications - important for environmentally sensitive industries
5. Insurance Requirements: Detailed insurance obligations - include for high-risk products or services
6. Business Continuity: Disaster recovery and business continuity requirements - important for critical suppliers
7. Anti-Corruption Compliance: Specific anti-corruption and compliance procedures - crucial for international business or government contracts
8. Training and Support: Requirements for vendor-provided training and support - include for complex products or services
1. Schedule 1 - Products and Services: Detailed list of products/services covered under the agreement, including specifications
2. Schedule 2 - Pricing Schedule: Detailed pricing information, discount structures, and price review mechanisms
3. Schedule 3 - Service Levels: Specific service level requirements, KPIs, and measurement criteria
4. Schedule 4 - Technical Requirements: Technical specifications and compliance requirements
5. Schedule 5 - Operational Procedures: Detailed procedures for ordering, delivery, returns, and day-to-day operations
6. Schedule 6 - Contact Details: Key contact persons and escalation matrix for both parties
7. Appendix A - Form of Purchase Order: Standard form for placing orders under the agreement
8. Appendix B - Quality Control Procedures: Detailed quality control and testing procedures
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