A Vendor Agreement is a commitment which is made by owner of a business who appoint a person who will implement specific service or goods as per the precondition. There are various types in vendors’ agreement. The key points to cover a vendors agreement are date, time & location of service. A Vendor Agreement ought to coexist with the Statement of Work. After signed by both parties it can be enforced with legal procedures.
a. With the help of vendors’ agreement, it specifies the limitation of the vendor.
b. By writing down the business requirements it minimizes the risk for future.
c. It states the procedure which the vendor should follow while working.
d. It helps to gear up the work.
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