The Agreement For Supply Of Goods On Credit is designed for commercial transactions in Malaysia where a supplier agrees to provide goods to a purchaser with deferred payment terms. This agreement is particularly useful for businesses seeking to establish long-term supply relationships while managing credit risk and cash flow. It combines elements of both supply and credit arrangements, incorporating provisions required under Malaysian law, including compliance with the Contracts Act 1950, Sale of Goods Act 1957, and Financial Services Act 2013. The document is structured to protect both parties' interests by clearly defining credit terms, security arrangements, and remedies for default, while maintaining flexibility for ongoing commercial relationships.
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1. Parties: Identification of supplier and purchaser with full legal names and registration details
2. Background: Context of the agreement, including business relationship and purpose
3. Definitions and Interpretation: Defined terms, interpretation rules, and currency definitions
4. Supply Obligations: Core obligations regarding supply of goods, ordering process, and delivery terms
5. Credit Terms: Credit limit, payment terms, interest rates, and credit period
6. Price and Payment: Pricing mechanism, invoicing requirements, and payment procedures
7. Quality and Specifications: Quality standards, specifications of goods, and compliance requirements
8. Delivery and Risk: Delivery terms, transfer of risk, and acceptance procedures
9. Title and Security: Retention of title provisions and security arrangements for credit
10. Warranties and Representations: Standard warranties regarding goods and capacity to contract
11. Default and Consequences: Events of default, remedies, and enforcement rights
12. Term and Termination: Duration, renewal terms, and termination rights
13. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution
1. Parent Company Guarantee: Required when parent company support is needed for credit security
2. Insurance: Detailed insurance requirements if specific coverage is needed for high-value goods
3. Intellectual Property: Required when supplied goods involve patents, trademarks or other IP rights
4. Confidentiality: Detailed confidentiality provisions if sensitive information is shared
5. Force Majeure: Detailed force majeure provisions for industries susceptible to supply chain disruption
6. Export/Import Compliance: Required for international supply arrangements
7. Anti-Corruption: Required for high-value contracts or public sector supplies
8. Data Protection: Required when personal data is processed in the supply chain
1. Schedule 1 - Goods Description: Detailed specifications and descriptions of goods to be supplied
2. Schedule 2 - Pricing Schedule: Detailed pricing information, including any volume discounts
3. Schedule 3 - Credit Terms: Detailed credit limits, payment terms, and interest calculations
4. Schedule 4 - Delivery Requirements: Specific delivery locations, times, and procedures
5. Schedule 5 - Quality Standards: Detailed quality requirements and testing procedures
6. Schedule 6 - Form of Purchase Order: Standard form for placing orders under the agreement
7. Appendix A - Security Documents: Forms of any required security documents or guarantees
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