A trading partner agreement is an agreement drawn up by two parties that have agreed to trade certain items or information..... The agreement outlines the terms of the trade or trading process, including responsibilities, who's involved, how goods or information will be delivered and received, and duties or fees.
Understanding a Trading Partner Agreement
Trading partner agreements are often used in complex financial trade transactions. They may also be used in managing the terms for a variety of business deals, including information releases or distribution of goods.
Trading partner agreements can be developed in various formats and may include a variety of different provisions. They typically require the assistance of legal counsel or an in-house compliance officer. Covenants and provisions included in a trading partner agreement will typically detail the duties and obligations of both parties. Other important information may include a statement of procedure or statement of work outlining certain expectations.
The purpose of the trading partner agreement is to lay out the responsibilities of each party and to help prevent disputes on agreed-upon terms.
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