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Preferred Supplier Agreement

Preferred Supplier Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Preferred Supplier Agreement

"I need a Preferred Supplier Agreement for my Saudi-based manufacturing company to establish a three-year relationship with an international supplier of industrial equipment, with the agreement starting March 1, 2025, including minimum purchase commitments and exclusive territory rights for the Western Region of Saudi Arabia."

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Document background
The Preferred Supplier Agreement is designed for use in the Saudi Arabian market where organizations seek to establish and maintain strategic supply relationships with key vendors. This document is particularly relevant when a company wishes to secure preferential terms, guaranteed supply, and potentially exclusive arrangements with reliable suppliers. The agreement encompasses essential elements required under Saudi law and Sharia principles, including detailed commercial terms, performance metrics, and compliance requirements. It is commonly used in situations requiring regular procurement of goods or services, where the customer wants to streamline the procurement process while maintaining quality and cost advantages. The document typically includes comprehensive provisions for pricing, ordering procedures, quality standards, and dispute resolution mechanisms, all tailored to comply with Saudi Arabian legal requirements.
Suggested Sections

1. Parties: Identification of the parties, including full legal names, commercial registration numbers, and authorized representatives

2. Background: Context of the agreement, relationship objectives, and confirmation of supplier's capabilities

3. Definitions: Defined terms used throughout the agreement, including specific Saudi Arabian legal and commercial terms

4. Appointment and Scope: Terms of supplier's appointment, preferred status, and scope of products/services

5. Duration and Renewal: Term of the agreement, renewal provisions, and notice periods

6. Ordering Process: Procedures for placing and accepting orders, including electronic procurement systems

7. Pricing and Payment: Price determination, payment terms, invoicing requirements, and VAT provisions

8. Quality and Performance Standards: Required quality levels, KPIs, and performance monitoring

9. Delivery and Acceptance: Delivery terms, timing, inspection rights, and acceptance procedures

10. Warranties and Representations: Standard and specific warranties, including Sharia compliance declarations

11. Liability and Indemnification: Liability limitations and indemnification obligations

12. Confidentiality: Protection of confidential information and trade secrets

13. Termination: Termination rights, procedures, and consequences

14. Governing Law and Dispute Resolution: Saudi law application and dispute resolution mechanisms

15. General Provisions: Standard boilerplate clauses adapted for Saudi law

Optional Sections

1. Exclusivity: Used when the supplier is granted exclusive rights for certain products/services or territories

2. Minimum Purchase Commitments: Include when there are guaranteed minimum purchase volumes

3. Consignment Stock: Required if supplier maintains inventory at customer locations

4. Islamic Finance Provisions: Necessary for Sharia-compliant financing arrangements

5. Technology and IP License: Include when intellectual property rights are being licensed

6. Staff and Training: Required when supplier provides on-site personnel or training

7. Business Continuity: Important for critical supply relationships

8. Compliance with Saudization: Include when relevant to meeting local content requirements

9. Environmental Compliance: Required for environmentally sensitive products or services

Suggested Schedules

1. Schedule 1 - Products and Services: Detailed list of products/services covered by the agreement

2. Schedule 2 - Pricing Schedule: Detailed pricing, discounts, and price review mechanisms

3. Schedule 3 - Service Levels: Detailed KPIs, measurement methods, and reporting requirements

4. Schedule 4 - Technical Specifications: Product/service technical requirements and standards

5. Schedule 5 - Ordering Procedure: Detailed ordering process, forms, and systems

6. Schedule 6 - Key Personnel: List of key supplier personnel and their roles

7. Schedule 7 - Form of Purchase Order: Standard form for individual orders

8. Appendix A - Compliance Requirements: Relevant Saudi regulations and compliance requirements

9. Appendix B - Insurance Requirements: Required insurance coverage and limits

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





















































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Relevant Industries

Manufacturing

Healthcare

Education

Construction

Oil & Gas

Technology

Retail

Industrial

Automotive

Telecommunications

Food & Beverage

Pharmaceuticals

Energy

Defense

Infrastructure

Relevant Teams

Procurement

Legal

Finance

Operations

Supply Chain

Compliance

Quality Assurance

Risk Management

Commercial

Vendor Management

Relevant Roles

Procurement Manager

Supply Chain Director

Legal Counsel

Commercial Director

Operations Manager

Contract Manager

Finance Director

Compliance Officer

Quality Assurance Manager

Vendor Relations Manager

Chief Financial Officer

Chief Operating Officer

Category Manager

Sourcing Manager

Risk Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Preferred Supplier Agreement

A Saudi Arabian law-governed agreement establishing preferential terms for regular supply of goods or services between a customer and their chosen supplier.

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