# Requirements Contract Agreement
**This Requirements Contract Agreement (the "Agreement") is made as of [Date], by and between:**
**[Seller's Name]**
[Seller's Address]
[City, State, Zip]
(“Seller”)
AND
**[Buyer's Name]**
[Buyer's Address]
[City, State, Zip]
(“Buyer”)
**WHEREAS**, Buyer agrees to purchase and Seller agrees to supply certain goods or services as outlined herein; and
**WHEREAS**, the parties desire to enter into this Agreement to set forth the terms and conditions regarding such supply.
**NOW, THEREFORE**, in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows:
## 1. Scope of Agreement
The Seller agrees to supply, and the Buyer agrees to purchase, all of Buyer's requirements for the goods described below:
### Description of Goods or Services:
- [Detail the specific goods/services]
## 2. Term
This Agreement shall commence on the date first written above and shall continue for a period of [insert duration, e.g., one (1) year] (the “Term”), unless terminated earlier in accordance with sections below.
## 3. Buyer’s Requirements
1. Buyer agrees to purchase only its actual requirements for the goods/services during the Term.
2. Buyer shall provide Seller with reasonable forecasts of its future requirements but is not obligated to purchase any minimum quantities.
## 4. Pricing and Payment
1. The price for the goods/services shall be as follows:
- [Specify pricing details, including how prices may change, if applicable]
2. Payment terms shall be [insert payment terms, e.g., Net 30 days] from the date of invoice.
## 5. Delivery
1. Seller agrees to deliver the goods/services to Buyer at [insert delivery location] as and when required by Buyer.
2. Delivery schedules shall be determined based on Buyer’s purchase orders and agreed upon by both parties.
## 6. Termination
1. This Agreement may be terminated by either party upon [insert notice period, e.g., 30 days] written notice to the other party.
2. In the event of a breach of this Agreement by either party, the non-breaching party may terminate this Agreement immediately upon written notice.
## 7. Confidentiality
Both parties agree to keep all information pertaining to this Agreement and the business affairs of the other party confidential.
## 8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [insert applicable state or jurisdiction].
## 9. Amendment
This Agreement may only be amended in writing signed by both parties.
## 10. Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes any prior agreements or understandings, whether written or oral.
**IN WITNESS WHEREOF, the parties hereto have executed this Requirements Contract as of the date first above written.**
_____________________________
[Seller's Name]
**Seller**
_____________________________
[Buyer's Name]
**Buyer**
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*Please note that this document is a template and should be reviewed by legal counsel prior to use to ensure compliance with local laws and regulations.*