The supply contract
Example: Supply contract defines terms for delivering goods between business partners
Definition
"The supply contract" is a formal agreement between parties outlining the terms and conditions for delivering goods or services. It specifies quantities, prices, delivery schedules, and responsibilities, ensuring clarity and legal protection in business transactions.
Etymology
The phrase "the supply contract" combines 'supply,' derived from the Latin 'supplere,' meaning to fill up or furnish, and 'contract,' from the Latin 'contractus,' meaning a drawing together or agreement. Together, they denote an agreement to provide goods or services. Did you know? The concept of contracts dates back to ancient civilizations where trade agreements were often oral before written forms became standard.
Learn to use this word actively
"The supply contract" appears in the Vocaplus list "English - Management - (A1-C2) - set 1", containing 108 commonly used words.
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