Do I need to agree a contract with my new suppliers?

If a decision has been made to change suppliers, it is of vital importance that a trading contract is drawn up. This should include setting out the expectations of each party from the start.

A well thought through initial contract could lay the foundation for a long term commercial relationship to be developed, and will also set out the responsibilities for transporting products as well as clearly defining liability for any unforeseen issues that may occur during the production, transport or delivery of the goods.

Our comprehensive article about supply chain and supplier relationships has lots more information, tips for developing successful supply chain relationships and answers questions about what you need to consider when changing suppliers.