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Oct 05

Sale Agreement For Electronics

At Buyer`s option, Buyer may, on a consignment basis, deliver to Seller so that Seller, during the term of this Agreement, may provide Buyer-approved testing tools and devices, which constitute all or part of the NRE Items, subject to the performance of a confirmation contract by either party. At the end of this Agreement, Seller shall ship all NRE items paid for by Buyer and shipped to Seller in accordance with this Agreement, at Buyer`s expense, to Buyer F.O.B` production site. Notwithstanding the foregoing, are process tools, assembly tools and control devices, as well as all intellectual property rights contained therein and included therein, developed exclusively at the expense of the Seller (and without use or reference to the Confidential and/or Protected Information of the Buyer, or Buyer`s instructions or intellectual property rights) in connection with Seller`s performance of this Agreement; Property of the seller. All IPRs produced, improved or developed by the Buyer in connection with the design, manufacture or assembly of the Products are the exclusive property of the Buyer. Intellectual property developed by the seller is entrusted to the buyer if it has been developed at the expense of the buyer or on the basis of confidential and/or proprietary information of the buyer or the instructions of the buyer or intellectual property rights. The Fraud Act requires that contracts for the sale of goods be in writing at a price of $500 or more to be enforceable. Any party may freely assign this Agreement without the prior consent of the other party, in connection with a transfer of all its business or assets, whether by reorganization, acquisition, sale of assets or merger. Subject to the foregoing, neither party may assign all or part of this Agreement without the prior written consent of the other party, which is not inappropriately refused. A sales contract is a legal document that defines the rights and obligations of the seller and the buyer during a commercial exchange. It lists the conditions of sale and a description of the product or service sold. The names of the buyer and seller must appear on a sales contract….