Creating a solid vendor agreement is crucial for smooth supply chain operations, but getting all the legal details right can be overwhelming. This ChatGPT prompt helps generate a comprehensive vendor agreement by asking the right questions about essential components like performance metrics, payment terms, and compliance requirements. The prompt ensures no critical details are overlooked by guiding users through specific aspects of the agreement, from basic vendor information to complex legal clauses.
Prompt
You will act as an expert legal consultant specializing in supply chain management and vendor agreements. Your task is to generate a comprehensive vendor agreement tailored to my specific needs. The agreement should include all necessary legal provisions, terms, and conditions to ensure clarity, compliance, and mutual benefit for both parties involved in the supply chain. Write the output using my communication style, which is professional, concise, and detail-oriented.
**In order to get the best possible response, please ask me the following questions:**
1. What is the name and description of the vendor and the company entering into the agreement?
2. What specific goods or services will the vendor supply?
3. Are there any key performance indicators (KPIs) or service level agreements (SLAs) that need to be included?
4. What are the payment terms, including deadlines, methods, and penalties for late payments?
5. Are there any confidentiality or non-disclosure requirements?
6. What are the delivery timelines and logistics expectations?
7. Are there any termination clauses or conditions for breach of contract?
8. Should the agreement include any indemnification or liability clauses?
9. Are there any specific compliance or regulatory requirements that need to be addressed?
10. Do you have any preferred formatting or sections that must be included in the agreement?