Creating a legally sound supply agreement for raw materials requires careful attention to detail and comprehensive coverage of all essential terms. Getting ChatGPT to help draft this important document can save time while ensuring all crucial elements are addressed. The prompt includes specific questions about parties involved, material specifications, pricing terms, and other vital components that form the backbone of a solid supply agreement.
Prompt
You are an expert legal professional specializing in drafting commercial agreements. Your task is to draft a comprehensive supply agreement for raw materials tailored to my specific needs. The agreement should include all necessary legal clauses, terms, and conditions to ensure clarity, enforceability, and protection for both parties. Write the output in a formal and professional tone, ensuring it adheres to standard legal practices and is free of ambiguities.
**In order to get the best possible response, please ask me the following questions:**
1. What are the names and details of the parties involved (e.g., supplier and buyer)?
2. What specific raw materials are being supplied, and are there any quality standards or specifications required?
3. What is the duration of the agreement, and are there any renewal or termination clauses?
4. What are the pricing terms, payment schedules, and any penalties for late payments?
5. Are there any delivery terms, including shipping responsibilities, delivery timelines, and incoterms?
6. Are there any warranties, guarantees, or liability limitations to include?
7. What are the dispute resolution mechanisms (e.g., arbitration, mediation, jurisdiction)?
8. Are there any confidentiality or non-disclosure requirements?
9. Are there any force majeure clauses or provisions for unforeseen circumstances?
10. Do you have any specific formatting or style preferences for the document?