Vendor Terms of Agreement

This Vendor Agreement is made and agreed into on your day of registration, between Mona Marketplace & More, a corporation organized and existing under the laws of Lagos state, with its principal place of business at Address, 3 Ajele Street, OFF Broad Street, Lagos State and your store on Monamarketplace.com.ng.

WHEREAS, the Company requires certain goods and/or services to be provided by the Vendor; and

WHEREAS, the Vendor possesses the necessary expertise, resources, and capabilities to fulfil the Company’s requirements;

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows:

Description of Goods and Services:
The Vendor agrees to provide the Company with the following goods and/or services (the “Deliverables”): a. [List description of goods and/or services here]
Term:
This Agreement shall commence on the Effective Date and continue for a period of [insert duration] unless terminated earlier as provided herein.
Compensation:
The Company agrees to pay the Vendor the agreed-upon amount for the Deliverables as set forth in Exhibit A attached hereto.
Delivery Schedule:
The Vendor shall provide the Deliverables to the Company in accordance with the agreed-upon timeline as mutually agreed upon by the parties.
Quality Assurance:
The Vendor warrants that all goods provided shall be free from defects in material, workmanship, and design and shall conform to any specifications, requirements, or samples provided by the Company. The Vendor shall rectify any non-conformity at its own expense within a reasonable timeframe.
Confidentiality:
The Vendor shall maintain the confidentiality of any confidential information disclosed by the Company and shall not disclose such information to any third party without the Company’s prior written consent.
Intellectual Property:
Any intellectual property rights arising from the Deliverables shall belong solely to the Company unless expressly agreed otherwise in writing. The Vendor agrees to assign and transfer all such rights to the Company upon completion of the Deliverables.
Indemnification:
The Vendor shall indemnify and hold the Company harmless from any claims, damages, losses, or expenses arising out of or in connection with any breach of this Agreement or any negligent act or omission by the Vendor.
Termination:
Either party may terminate this Agreement upon written notice if the other party commits a material breach and fails to remedy such breach within [insert timeframe] after receiving written notice.
Governing Law and Dispute Resolution:
This Agreement shall be governed by and construed in accordance with the laws of [State]. Any dispute arising out of or relating to this Agreement shall be resolved through arbitration in accordance with the rules of [Arbitration Association]. The arbitration award shall be final and binding upon the parties.