A private label is a product or a service that is produced or performed based on the request of other company in order to be launched at their trademark. There are several parties that can produce the products or give services this way. That is why a private label agreement is needed in order to make sure that these parties will still be able to work without having any problems in the future. The example of a situation when a private label agreement is required is a credit card that is in the label of certain bank. However, there are some sources that can produce credit cards such as VISA and MASTER. A private label agreement is needed in order to make sure that the credit card can perform well and that the parties involved in it can work cooperatively.
What should be Included in the Agreement?
- The name of the parties involved in the private label agreement. It should be written in capital letters in order to give emphasize to the name of the parties.
- The address of the parties involved in the agreement, which should be written in detail and in capital letters.
- The date when the two parties involved in the agreement came into the decision of making a private label agreement.
- The label that is approved to be used by the two parties
- The confidential information related with the label and the private label agreement
- The detail information about any possible damage and loss during the period of the agreement and how the two parties will handle such a situation.
- The detail procedure of changing or terminating the private label agreement in the future just in case there is such situation happens and requires the agreement to be changed or ended.
- The terms and conditions in detail
- The detail situation that enables any change or termination of the private label agreement.
- The mutual goals to be achieved by the two parties in the agreement and the mutual duties that should be performed by them during the period of the agreement.
- The amount of money to be paid and the exact time of paying it, if the agreement requires the involvement of payment.
- The effective date of the agreement, which is actually about when the agreement is started and when it will be ended.
- The official signature of the two parties involved in the private label agreement, which is followed by their full names.
You might understand it better if you have a general private label agreement that you can read in document model, as you can download the Microsoft Word file below.