A retailer is a business or firm that is engaged in offering services or goods directly to customers, or consumers. Retailers are usually concerned with selling some sort of merchandise. Such businesses generally sell individual or small groups of products to a large number of customers. This retail industry is a huge piece of the United States economy. Naturally, it is important to execute a binding retailer agreement when determining the rights of a particular buyer who is a retailer and a seller who is supplying that retailer.
A general product retailer agreement will cover a number of issues. First it will state specifics such as the names of the parties involved and addresses as well as the dates that the agreement will be valid. It will then specify exactly what products are represented in the agreement. The price and quantity will be specified as well, along with the responsibility for taxes. The details of what payment will be made, along with how and when it will be rendered will also be set forth in the retailer agreement. The issue of shipping will be addressed, as will any return policy. There may be notices and product modifications to be addressed. In addition, any warranty and liability will be set forth. Any miscellaneous issues will also be stated in writing in the agreement. Issues of Force Majeure as well as disputes should also be covered in the agreement. Finally, both parties will sign and date the document.
Retailers often find themselves in a very competitive business, and many new retail businesses do not last long. This is one of the many reasons to cover all of your bases with a detailed retailer agreement. There are a number of different types of retailers that may be involved in a retailer agreement.
A retail business can be owned independently or as part of a chain, which is simply two or more stores with activities that are decided and synchronized by one management group. Most retail businesses will fall easily into a type or category, but more and more businesses are merging the boundaries in an effort to appeal to more consumers.
Department stores, supermarkets, and specialty stores are some of the most common types of retailers. Then there are so-called discount stores. There are also mail order and such retailers who do not actually operate a “store.” Since the internet market is expanding so quickly, this type of retailer is becoming more and more common.
It is important to keep in mind that no matter what type of retailer you are or what kind of retailer you are doing business with, the best way to protect yourself is through clearly spelled out documentation. This is why a retailer agreement is so essential. You can consult an attorney to have this contract created, or you can search online to find one of the many online companies that provide legal documents such as retailer agreements ready-made in a fill in the blank format.
Mark A. Warner is a Retailer Agreement Research Analyst