LONG-TERM SUPPLY AGREEMENT

 

📄 LONG-TERM SUPPLY AGREEMENT

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Agreement No.: [Insert Agreement Number]
Effective Date: [Insert Date]
Term: [e.g., 12 months, from MM/DD/YYYY to MM/DD/YYYY]

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1️⃣ PARTIES

Supplier (Exporter):
Name: [Your Company Name]
Registered Address: [Insert Address]
MPEDA Reg. No.: [Insert]
IEC No.: [Insert]
Authorized Person: [Insert Name & Title]

Buyer (Importer):
Name: [Buyer’s Company Name]
Registered Address: [Insert Address]
Importer License No.: [Insert if applicable]
Authorized Person: [Insert Name & Title]

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2️⃣ SCOPE OF AGREEMENT

The Supplier agrees to supply, and the Buyer agrees to purchase, the following seafood products under the terms and conditions set forth:

Product Description	Scientific Name	Size/Grade	Annual Quantity (MT)	Unit Price (USD/kg or agreed)
Example: Frozen Shrimps	Penaeus monodon	16/20 count	50 MT	$10/kg
Example: Frozen Mackerel	Rastrelliger kanagurta	200–300g	100 MT	$5/kg

Adjust this table to reflect actual product details.

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3️⃣ TERM & RENEWAL

• Initial Term: [12/24/36 months]

• Renewal: Automatically renewable for [1-year] terms unless either party gives written notice [30/60 days] before expiration.

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4️⃣ DELIVERY & SHIPMENT SCHEDULE

• Delivery Frequency: [Monthly / Quarterly / As per Buyer’s order]

• Delivery Terms: [FOB Indian Port / CIF Destination Port / CFR]

• Port of Loading: [Insert]

• Port of Discharge: [Insert]

• Shipping Method: [Reefer container / Air cargo]

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5️⃣ PRICING & PAYMENT TERMS

• Price Basis: Fixed for [first year] OR subject to [quarterly/yearly] review based on raw material costs.

• Payment Terms:
  ✅ 30% advance, 70% against documents
  ✅ OR 100% by confirmed irrevocable Letter of Credit (L/C) at sight

• Currency: [USD / EUR]

• Bank Details: [Insert Seller’s Bank Details]

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6️⃣ QUALITY & STANDARDS

• Supplier guarantees compliance with FSSAI, HACCP, EIC/EIA, MPEDA, and destination country regulations.

• Products must meet agreed specifications for size, grade, moisture, freezing, packaging, and labeling.

• Pre-shipment inspection: [By Buyer / Third Party / Joint] if required.

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7️⃣ DOCUMENTS PROVIDED PER SHIPMENT

• Commercial Invoice

• Packing List

• Bill of Lading / Airway Bill

• Certificate of Origin

• Health Certificate (MPEDA/EIC)

• Insurance Certificate (if applicable)

• Any other documents required by Buyer or import country

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8️⃣ WARRANTIES & LIABILITY

• Supplier warrants products are safe, fit for human consumption, and free from contamination.

• Liability limited to replacement or refund of defective goods; no consequential damages unless explicitly agreed.

• Neither party liable for force majeure events (e.g., strikes, natural disasters, port shutdowns, government restrictions).

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9️⃣ TERMINATION

• Either party may terminate with [30/60] days’ written notice.

• Immediate termination if:
  ✅ Repeated quality failures
  ✅ Failure to pay as per contract
  ✅ Breach of regulatory compliance

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🔟 DISPUTE RESOLUTION

• Governing Law: [Indian Law / Buyer’s Country Law / Neutral Jurisdiction]

• Arbitration: Conducted under [ICC / SIAC / LCIA] Rules, location: [Insert]

• Good-faith negotiations must be attempted before arbitration.

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11️⃣ MISCELLANEOUS

• Entire Agreement: Supersedes all prior agreements, oral or written.

• Amendments: Must be in writing, signed by both parties.

• Notices: Sent via email and confirmed in writing to registered addresses.

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🖊 SIGNATURES

Supplier (Exporter):
Name: ________________________
Title: _________________________
Signature: ____________________
Company Seal: _________________

Buyer (Importer):
Name: ________________________
Title: _________________________
Signature: ____________________
Company Seal: _________________