The Agreement For Supply Of Goods On Credit is designed for commercial transactions in Australia where a supplier provides goods to a customer on credit terms rather than requiring immediate payment. This arrangement is common in business-to-business relationships where ongoing supply relationships exist. The document incorporates requirements under Australian commercial law, including the Personal Property Securities Act 2009 and relevant consumer protection legislation. It is particularly suitable for businesses seeking to establish regular supply arrangements while managing credit risk through formal terms, security interests, and credit assessments. The agreement typically includes credit limits, payment terms, interest rates, and may include personal guarantees or other security arrangements.
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1. Parties: Identifies and defines the supplier and customer, including their legal status and contact details
2. Background: Sets out the context of the agreement and the parties' intentions
3. Definitions and Interpretation: Defines key terms and establishes interpretation principles
4. Supply of Goods: Details the core agreement for supply, including ordering process and delivery terms
5. Credit Terms: Specifies credit limit, payment terms, interest rates, and credit assessment rights
6. Price and Payment: Details pricing structure, invoicing process, and payment obligations
7. Delivery and Risk: Covers delivery arrangements, transfer of risk, and acceptance procedures
8. Title and Security Interest: Addresses retention of title provisions and PPSA requirements
9. Warranties and Quality: States warranties regarding goods quality and compliance with specifications
10. Default and Termination: Sets out events of default, consequences, and termination rights
11. Dispute Resolution: Establishes process for resolving disputes
12. General Provisions: Includes standard boilerplate clauses like notices, governing law, and assignment
1. Minimum Purchase Commitments: Used when the customer agrees to minimum purchase quantities or values
2. Consignment Stock Arrangements: Include when goods are supplied on consignment basis
3. Credit Insurance: Required when parties agree to specific credit insurance arrangements
4. Personal/Director Guarantees: Include when personal or director guarantees are required for credit
5. Intellectual Property: Include when supplied goods involve IP rights or branded products
6. Export/Import Requirements: Required for international supply arrangements
7. Force Majeure: Optional but recommended for long-term supply arrangements
1. Schedule 1 - Goods Specifications: Detailed specifications of goods to be supplied
2. Schedule 2 - Pricing Schedule: Detailed pricing information including any volume discounts
3. Schedule 3 - Credit Application Form: Standard form for credit assessment
4. Schedule 4 - Delivery Requirements: Specific delivery terms, locations, and procedures
5. Schedule 5 - Personal/Director Guarantee Deed: Form of guarantee if required
6. Appendix A - Order Form Template: Standard form for placing orders
7. Appendix B - Quality Standards: Detailed quality requirements and standards
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