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We need a short letter of agreement between us and our supplier

Customer Question
that they will not try...
We need a short letter of agreement between us and our supplier that they will not try to sell drectly to our customers.
Submitted: 6 years ago.Category: Legal
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Answered in 6 minutes by:
11/11/2011
Lawyer: Ely, Counselor at Law replied 6 years ago
Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 102,930
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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Hello and thank you for the opportunity to assist you. Please remember that there might be a delay between your follow up questions and my answers because I may be helping other customers or taking a break.

You mean a non-compete? Please find it below.


____________________, referred to as SELLER and _________________________, referred to as BUYER, agree: BUYER and SELLER have entered into an agreement dated __________, 2011___ for ____________________.

In consideration of the mutual covenants and payments to be made pursuant to the agreement, and in further consideration of the sum of $_________ (_______________&___/100 dollars) paid to by BUYER to SELLER, receipt of which is acknowledged by the SELLER, SELLER agrees not to compete with BUYER under the terms and conditions set forth herein.

During a period of ________ from the date of this agreement SELLER will not compete at any time, directly or indirectly with BUYER in the fields of:
________________________________________________________________

in the following geographic territory:
_________________________________________________________________

For the purposes of this agreement “competition” shall be defined to the include, but not be limited to, the following:
(a) Participating as a director, stockholder, or partner of, or having any direct or indirect financial interest (including a financial interest as a creditor) in any enterprise engaged in the fields stated above;
(b) Participating as an officer, employee, agent, representative, or consultant in, or rendering any services to, any such enterprise within the fields stated above;

SELLER further agrees that for a period extending _________ after the substantial consummation of the sale, SELLER shall not solicit for employment or employ any of the employees as of the date of substantial consummation of the same. However, in the event that BUYER terminates any employee, SELLER may employ that individual, provided that such employment is not limited by any valid non-competition agreement either assigned by SELLER to BUYER or entered into to between BUYER and the employee.

SELLER acknowledges that the restrictions contained herein are reasonable and necessary to protect the business and interest, which BUYER is acquiring pursuant to the above-referenced purchase and sale agreement. It is further agreed that BUYER would suffer irreparable injury if the restriction is not obeyed, and that injunctive relief is appropriate for any violation of the same.

Dated: ____________________________

__________________________________________________
____________________, SELLER

__________________________________________________
____________________, BUYER


If this is not what you were looking for, please let me know and I will try to find you another template.

I hope you found my answer helpful, and if so please do not forget to click ACCEPT. This is the only way for me to get credit for my work – I receive no credit for my time with you unless you actually press ACCEPT, even if you already have a subscription. If you seek clarification or more information, I encourage you to use the REPLY button and I’d be more than happy to answer to your satisfaction! Really! There is no fee for follow up questions before or after accepting, should you wish to continue the conversation. If you feel that I went an extra step to help you, a bonus in the form of another accept or an “add on” (available after you accept) is truly appreciated.
Ask Your Own Legal Question
Customer reply replied 6 years ago
I do not need on non compete. I need a letter of agreement between my company and my wholesale supplier that they will not sell products direct to our customers which we purchase from they and re-sell to our customer.
Lawyer: Ely, Counselor at Law replied 6 years ago
Hello,

My apologies. Please see amended answer below:

____________________, referred to as SELLER and _________________________, referred to as BUYER, agree: BUYER and SELLER have entered into an agreement dated __________, 2011___ for ____________________.

In consideration of the mutual covenants and payments to be made pursuant to the agreement, and in further consideration of the sum of $_________ (_______________&___/100 dollars) paid to by BUYER to SELLER, receipt of which is acknowledged by the SELLER, SELLER agrees not to compete with BUYER under the terms and conditions set forth herein.

During a period of ________ from the date of this agreement SELLER will not, at any time, directly or indirectly sell to customers of BUYER the same merchandise that SELLER is selling to BUYER, to wit, the following: ________________________________________________________________

SELLER is hereby restricted from selling said merchandise to the following customers:___________________________________________.

Both the merchandise and customers listed may be updated at any time by BUYER with certified letter.

SELLER agrees that breaching this agreement will constitute a breach of contract.


I hope you found my answer helpful, and if so please do not forget to click ACCEPT. This is the only way for me to get credit for my work – I receive no credit for my time with you unless you actually press ACCEPT, even if you already have a subscription. If you seek clarification or more information, I encourage you to use the REPLY button and I’d be more than happy to answer to your satisfaction! Really! There is no fee for follow up questions before or after accepting, should you wish to continue the conversation. If you feel that I went an extra step to help you, a bonus in the form of another accept or an “add on” (available after you accept) is truly appreciated.
Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 102,930
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Verified
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