General Contract Clauses: Interruptions in Supply (Requirements Contract) | Practical Law

General Contract Clauses: Interruptions in Supply (Requirements Contract) | Practical Law

Standard Clause for use in a requirements contract mitigating the buyer's risk of interruptions in supply of raw materials or components that are not the result of a force majeure event. This Standard Clause obligates the seller to either supply product from an alternate source at the contract price or reimburse the buyer for the difference in the contract price and the price of product obtained from third parties. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both parties.

General Contract Clauses: Interruptions in Supply (Requirements Contract)

Practical Law Standard Clauses w-026-0503 (Approx. 9 pages)

General Contract Clauses: Interruptions in Supply (Requirements Contract)

by Practical Law Commercial Transactions
MaintainedUSA (National/Federal)
Standard Clause for use in a requirements contract mitigating the buyer's risk of interruptions in supply of raw materials or components that are not the result of a force majeure event. This Standard Clause obligates the seller to either supply product from an alternate source at the contract price or reimburse the buyer for the difference in the contract price and the price of product obtained from third parties. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both parties.