Formalizing Agreements, Obligations, and Other Considerations

This Purchase and Sale Agreement ( Agreement ) is between THE SELLER [INSERT TOLLER COMPANY NAME AND ADDRESS] 

THE PURCHASER [INSERT CLIENT COMPANY NAME AND ADDRESS] 

In consideration of the mutual covenants set forth herein, Seller and [insert company name] agree as follows  

Seller will invoice [insert company name] each month for Prodnct delivered the preceding month. Payment terms are net (X) days from the date of receipt hy [insert company name] of Seller s invoice. Seller s charges nnder this Agreement inclnde all applicable taxes, costs and expenses. 

If [insert company name] can obtain comparable Prodnct at a lower delivered cost from another party, then [insert company name] may reqnest Seller to meet snch cost within (X) days of Seller s receipt of written notice from [insert company name]. If Seller is nnwilling to meet snch cost within snch notice period, then, at the expiration of snch notice period, [insert company name] may obtain the Prodnct from snch party and the qnantity of snch Prodnct will be dedncted from [insert company name] s and Seller s obligations herennder. 

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Article XXIII on dispute settlement is considered to be well balanced and equitable and provides that if any Party should consider that another Party fails to carry out its obligations or commitments under the agreement, it may make written representations or proposals to the other Party or Parties concerned and the latter should give sympathetic consideration to the representations or proposals so made. If no satisfactory settlement could he arrived at, the GATT agreement provides for a formal dispute settlement procedure in Articles XXII and XXIII. 

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