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Credit Agreement For Supply Of Goods
"I need a Credit Agreement for Supply of Goods for my manufacturing company in Manila, providing a PHP 5 million credit line to a distributor for regular purchase of electronic components, with monthly repayment terms and delivery requirements starting March 2025."
1. Parties: Identification of the creditor/supplier and the debtor/purchaser with complete legal names and addresses
2. Background: Context of the agreement, relationship between parties, and purpose of the credit facility for goods supply
3. Definitions: Definitions of key terms used throughout the agreement, including financial terms and supply-related concepts
4. Credit Facility: Details of the credit line, including amount, purpose, and availability period
5. Interest and Fees: Interest rate, calculation method, fees, charges and other costs as required by Truth in Lending Act
6. Supply Terms: Terms and conditions for the supply of goods, including ordering process and delivery terms
7. Payment Terms: Payment schedule, method of payment, and consequences of late payment
8. Representations and Warranties: Standard representations and warranties from both parties regarding capacity, authority, and compliance
9. Covenants: Ongoing obligations of the parties, including financial covenants and reporting requirements
10. Events of Default: Circumstances constituting default and consequences thereof
11. Remedies: Rights and remedies available to parties in case of default or breach
12. Governing Law and Jurisdiction: Philippine law as governing law and jurisdiction for disputes
13. General Provisions: Standard boilerplate provisions including notices, amendments, and assignment
1. Security Arrangements: Include when the credit facility is secured by specific assets or guarantees
2. Insurance: Include when specific insurance requirements are needed for goods or credit protection
3. Quality Standards: Include when specific quality requirements or standards apply to the supplied goods
4. Minimum Purchase Commitments: Include when the agreement requires minimum purchase quantities
5. Electronic Communications: Include when parties agree to use electronic ordering or documentation systems
6. Force Majeure: Include when specific force majeure provisions are required beyond standard provisions
7. Intellectual Property: Include when supplied goods involve intellectual property rights
8. Confidentiality: Include when specific confidentiality provisions are needed beyond standard terms
1. Schedule A - Goods Description: Detailed description of goods to be supplied under the agreement
2. Schedule B - Pricing Schedule: Pricing details for different goods, including any volume discounts
3. Schedule C - Credit Terms: Detailed breakdown of credit terms, charges, and computation as required by Truth in Lending Act
4. Schedule D - Delivery Terms: Specific delivery locations, timeframes, and requirements
5. Schedule E - Security Details: Details of any security arrangements or collateral (if applicable)
6. Schedule F - Form of Purchase Order: Standard form for placing orders under the agreement
7. Appendix 1 - Compliance Certificates: Required forms for periodic compliance certification
8. Appendix 2 - Technical Specifications: Detailed technical specifications for goods (if applicable)
Authors
Agreement
Applicable Law
Approved Credit Limit
Available Credit
Banking Day
BSP
Business Day
Change of Control
Collateral
Confidential Information
Credit Facility
Credit Period
Default Interest
Default Rate
Delivery
Delivery Date
Delivery Location
Effective Date
Event of Default
Finance Charges
Financial Indebtedness
Financial Statements
Force Majeure Event
Goods
Government Agency
Guarantee
Interest Payment Date
Interest Period
Interest Rate
Invoice
Material Adverse Effect
Minimum Order Quantity
Order
Outstanding Amount
Payment Date
Payment Terms
Permitted Security Interest
Purchase Order
Purchase Price
Quality Standards
Related Party
Relevant Documents
Security
Security Interest
Specifications
Supplier Personnel
Supply Terms
Tax
Term
Territory
Transaction Documents
Warranties
Credit Facility
Purpose
Availability
Interest and Fees
Repayment
Security
Supply Terms
Ordering Process
Delivery
Title and Risk
Quality Standards
Price and Payment
Representations and Warranties
Covenants
Information Undertakings
Financial Covenants
Events of Default
Acceleration
Remedies
Set-off
Force Majeure
Confidentiality
Assignment and Transfer
Amendments and Waivers
Notices
Calculations and Certificates
Partial Invalidity
Third Party Rights
Counterparts
Governing Law
Dispute Resolution
Indemnification
Insurance
Termination
Entire Agreement
Manufacturing
Retail
Distribution
Wholesale Trade
Construction
Agriculture
Food and Beverage
Automotive
Electronics
Industrial Supplies
Consumer Goods
Pharmaceuticals
Chemicals
Textiles
Legal
Finance
Procurement
Supply Chain
Commercial Operations
Credit Control
Treasury
Sales
Risk Management
Accounts Receivable
Operations
Chief Financial Officer
Finance Director
Commercial Director
Supply Chain Manager
Procurement Manager
Credit Controller
Legal Counsel
Contract Manager
Treasury Manager
Accounts Receivable Manager
Sales Director
Business Development Manager
Risk Manager
Operations Director
Commercial Operations Manager
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