Document background
The Long Term Supplier Agreement is essential for businesses seeking to establish stable, ongoing supply relationships in the Philippines. This document is particularly useful when parties anticipate a continuous supply arrangement extending beyond one year, requiring detailed terms for regular ordering, delivery, and quality control. It addresses key aspects of Philippine commercial law, including provisions from the Civil Code, Consumer Act, and Price Act, while incorporating international best practices in supply chain management. The agreement typically includes comprehensive terms on pricing mechanisms, quality standards, compliance requirements, and risk allocation, making it suitable for both domestic and international trade relationships. It's designed to provide clarity and certainty in long-term business relationships while ensuring compliance with Philippine regulatory requirements and business practices.
