Standard Commodities Contract Example →

Description

Contract #: _________________________ STATE OF ARKANSAS COMMODITIES CONTRACT This contract (“Contract”) is by and between the: Enter Department Name (“Department” or the “State”) and Enter Contractor Name as Registered with the Secretary of State (“Contractor”) Enter Entity Type in Enter State of Formation with principal address at Enter Street Address, City, State, Zip Code. The Contractor and the State are referred to hereinafter, collectively, as the “Parties.” WHEREAS, the State seeks a contractor willing to sell it the commodity or commodities identified in Enter Exhibit Reference for Commodity & Price List (i.e., Exhibit A) hereto (the “Commodities”); and WHEREAS, the Contractor is willing to sell the State the Commodities for the prices identified in Enter Exhibit Reference for Commodity & Price List (i.e., Exhibit A) hereto. NOW THEREFORE, in consideration of their mutual promises and obligations set forth herein and as incorporated, the Parties agree as follows: 1. Commodities & Purchase Price. During the term of this Contract, the Contractor shall, in the quantities set forth in any purchase order that the Department may submit to the Contractor under this Contract, sell to the Department the Commodities set forth on Enter Exhibit Reference for Commodity & Price List (i.e., Exhibit A) at the prices stated therein. Unless otherwise stated in Enter Exhibit Reference for Commodity & Price List (i.e., Exhibit A), the Department shall pay all taxes applicable to any purchase it makes under this Contract. Price changes may be negotiated at the time of contract renewal at the discretion of the State. Any request for a price increase must include supporting documentation demonstrating that the increase in contract price is based on an increased cost to the Contractor and that the proposed pricing is still competitive in the marketplace. The State has the right to approve or deny any request for a price adjustment. 2. Invoicing and Payment after Delivery. Unless otherwise stated in Enter Exhibit Reference for Commodity & Price List (i.e., Exhibit A), payment for the Commodities is due within thirty (30) days of the date of the Contractor’s delivery of Commodities conforming to the Contract and receipt of the Contractor’s invoice, whichever is later. Invoices must be sent to: Enter Department Name Enter Department Mailing Address Enter Department Mailing City, State, Zip Code The Contractor should invoice the agency by an itemized list of charges.