Business Agreements
Requirements Contract
Contract committing a buyer to purchase all or a stated proportion of its requirements for specified goods exclusively from a seller, with good-faith quantity obligations under UCC § 2-306.
About this template
The Requirements Contract is a ready-to-use business agreements template you can send for signature in minutes. It is written for 2 signers (buyer and seller) and, by default, expires 30 days after it is sent if left unsigned. It covers requirements, exclusive supply, ucc, procurement, output. Like every Abundera Sign template it is a convenience draft structured for ESIGN Act and UETA compliance, not a substitute for legal advice. Each signed copy is sealed with PAdES-LTA digital signatures, dual RFC 3161 timestamps, and a tamper-evident evidence package in WORM storage.
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# Requirements Contract This Requirements Contract ("Agreement") is entered into as of ___________ by and between: **Buyer:** ___________, a ___________ organized under the laws of ___________, with its principal place of business at ___________ ("Buyer"); and **Seller:** ___________, a ___________ organized under the laws of ___________, with its principal place of business at ___________ ("Seller"). --- ## 1. Requirements Commitment ### 1.1 Exclusivity During the term of this Agreement, Buyer shall purchase from Seller ___________ for the goods listed in **Exhibit A** (Product Schedule) ("Goods") that Buyer purchases for ___________ (the "Covered Use"). Buyer shall not purchase any Goods for the Covered Use from any source other than Seller, except as expressly permitted by this Agreement. ### 1.2 Good-Faith Quantity Obligation The parties acknowledge that this Agreement is a requirements contract within the meaning of UCC § 2-306. Buyer's actual requirements may vary from period to period, but Buyer shall order only in good faith and shall not tender a quantity disproportionately less than any estimate set forth in Section 1.3 or than Buyer's prior course of performance under this Agreement. Buyer shall not artificially reduce its requirements to avoid its obligations hereunder. ### 1.3 Estimated Annual Volume The parties estimate Buyer's annual requirements at approximately ___________ ___________ per year ("Estimate"). The Estimate is for planning purposes only and is not a guarantee of purchase volume. Seller shall maintain capacity to fulfill at least ___________% above the Estimate at all times. ### 1.4 Permitted Alternative Sources Buyer may purchase Goods from alternate sources solely: (a) if Seller is unable or unwilling to supply within the lead times specified in Section 4 after ___________ days' written notice to Seller; or (b) for up to ___________% of Buyer's annual requirements strictly for the purpose of qualifying a backup supplier, provided Buyer gives Seller advance written notice. --- ## 2. Term This Agreement commences on ___________ and continues for ___________ year(s) ("Initial Term"), unless terminated earlier under Section 10. After the Initial Term, this Agreement automatically renews for successive one-year periods unless either party provides at least ___________ days' prior written notice of non-renewal. --- ## 3. Pricing ### 3.1 Unit Prices
Fields (42)
effective date
date · required
buyer name
text · required
buyer entity type
select · required
buyer state
select · required
buyer address
textarea · required
seller name
text · required
seller entity type
select · required
seller state
select · required
seller address
textarea · required
exclusivity scope
select · required
use limitation
text · required
estimated annual volume
number · required
unit of measure
text · required
seller capacity pct
number · required
seller cure days
number · required
trial purchase pct
number · required
start date
date · required
initial term years
number · required
non renewal notice days
number · required
price lock months
number · required
price adjustment notice days
number · required
price dispute exit days
number · required
po acknowledgment days
number · required
forecast horizon weeks
number · required
forecast update frequency
select · required
incoterms
select · required
delivery address
textarea · required
inspection days
number · required
remedy turnaround days
number · required
payment terms
select · required
late interest rate pct
number · required
warranty months
number · required
confidentiality term years
number · required
convenience notice days
number · required
governing state
select · required
arbitration city
text · required
buyer signatory name
text · required
buyer signatory title
text · required
buyer company name
text · required
seller signatory name
text · required
seller signatory title
text · required
seller company name
text · required
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