Vendor Terms

## Prasads Co Vendor Terms and Conditions Prasads Co, a web designing agency at prasads.co.in, uses these Vendor Terms and Conditions ("Vendor Terms") for vendors supplying goods, services, or subcontracted work. These align with our site terms and comply with Indian Contract Act 1872. [pandadoc](https://www.pandadoc.com/vendor-agreement-template/) ### Parties and Scope This agreement is between Prasads Co ("Company") and the Vendor. Vendor agrees to provide specified goods/services (e.g., development tools, freelance design, hosting) as per purchase orders or statements of work. Scope includes quality standards, timelines, and deliverables detailed in Annexures. [juro](https://juro.com/contract-templates/vendor-agreement) ### Payment Terms - Payments net 30 days from undisputed invoice receipt, via bank transfer. - Rates fixed per order; GST as applicable. - Late payments: 1.5% monthly interest. Vendor handles own taxes. - No payment until delivery acceptance. [cleartax](https://cleartax.in/s/vendor-agreement) ### Delivery and Performance Vendor delivers on schedule to Bengaluru location or specified site. Goods/services must meet industry standards and Company specs. Rejections for defects allow return at Vendor expense. Risk of loss transfers on acceptance. [juro](https://juro.com/contract-templates/vendor-agreement) ### Warranties and Representations Vendor warrants goods/services are original, free of liens, and compliant with laws (e.g., IT Act, labor codes). No infringement on third-party IP. Vendor has expertise for the engagement. [pandadoc](https://www.pandadoc.com/vendor-agreement-template/) ### Confidentiality and IP Vendor protects Company confidential info; non-use post-termination. IP in deliverables vests with Company. Vendor grants perpetual license for pre-existing IP used. [contractbook](https://contractbook.com/templates/vendor-contract) ### Indemnification and Liability Vendor indemnifies Company against claims from breaches, defects, or negligence. Company liability limited to fees paid. No consequential damages. [cleartax](https://cleartax.in/s/vendor-agreement) ### Term and Termination Initial term per order; renewable mutually. Termination: 30 days notice or immediate for breach. Post-termination, settle payments for accepted work. [contractbook](https://contractbook.com/templates/vendor-contract) ### Governing Law Governed by Indian laws; disputes arbitrated in Bengaluru under Arbitration Act. Jurisdiction: Karnataka courts. [slideshare](https://www.slideshare.net/slideshow/vendor-agreement-247151381/247151381) ### Miscellaneous Independent contractor status; no agency. Force majeure excused. Entire agreement; amendments in writing. Last updated: April 27, 2026. Contact: info@prasads.co.in. [pandadoc](https://www.pandadoc.com/vendor-agreement-template/)