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What is Vending Agreement?

Vending Agreement A Vending Agreement governs the operation of vending machines on a premises, specifying product selection, pricing, maintenance, and revenue sharing arrangements.



Sample template:



VENDING AGREEMENT


This Vending Agreement (the "Agreement") entered into on this __ day of _______, 20__ (the "Effective Date") is by and between ______________, with a mailing address of __________________________________ ("Vendor") and ______________, with a mailing address of 1234 Peaceful Lane, Davenport, Iowa ("Location Owner") (collectively, the "Parties").

1. PRODUCT SELECTION AND PRICING

1.1. Product Selection


Vendor shall provide an assortment of products to be sold in the vending machines (the "Products") at the Location Owner's premises. The Product selection shall be mutually agreed upon by the Parties and may be subject to change as per agreed terms and conditions in writing.



1.2. Pricing of Products


Vendor shall set the retail prices for the Products (the "Prices") in the vending machines. These Prices shall be determined by the Vendor and shall be subject to change at the Vendor's discretion. The Location Owner may request adjustments to the Prices, which the Vendor may consider but is not obligated to adopt.



2. MAINTENANCE RESPONSIBILITIES

2.1. Installation and Maintenance of Vending Machines


Vendor shall be responsible for installing, operating, maintaining, and repairing the vending machines at the Location Owner's premises. Location Owner shall provide suitable space, including necessary electric outlets and other facilities as required for the vending machines.



2.2. Refilling and Cleaning


Vendor shall be responsible for refilling the vending machines with Products and for cleaning the vending machines, both as necessary and in compliance with applicable laws and regulations. Location Owner shall allow access to the Vendor, their employees, agents, or representatives during business hours for the purpose of fulfilling Vendor's obligations under this Agreement.



3. REVENUE SHARING

3.1. Revenue Sharing


The Parties agree to share the net revenue generated by the vending machines as a result of sales of Products as follows:




  • Vendor shall receive _____% of the net revenue derived from the vending machines.

  • Location Owner shall receive _____% of the net revenue derived from the vending machines.



3.2. Revenue Reporting and Payment


Vendor shall provide Location Owner with a detailed report of the vending machine sales, net revenue, and revenue share including the calculation of the net revenue, on a monthly basis. Vendor shall remit the Location Owner's share of the net revenue as indicated in the report within fifteen (15) days of furnishing each report.



4. DURATION OF AGREEMENT

4.1. Term


This Agreement shall commence on the Effective Date and continue for a period of _______ (__) years (the "Term"), unless terminated earlier by either Party in accordance with the provisions set forth in this Agreement.



4.2. Renewal


Upon completion of the Term, this Agreement may be renewed by written agreement between the Parties for successive one-year terms, unless terminated sooner by either Party in accordance with the provisions set forth in this Agreement.



5. TERMINATION

Either Party may terminate this Agreement without cause, upon providing thirty (30) days written notice to the other Party. In the event of any breach of this Agreement by a Party, the non-breaching Party may terminate this Agreement immediately upon written notice if the breaching Party fails to cure the breach within ten (10) days of receiving written notice of the breach.



6. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the United States and the state of Iowa, without regard to its conflicts of law principles. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the state and federal courts located in Davenport, Iowa.



IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

____________________________ _________________________
[Vendor Name] [Location Owner Name]
By: __________________________ By: ________________________
Its: __________________________ Its: _______________________

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Sections of a Vending Agreement


In this Vending Agreement, you will see the following sections:

  1. Product Selection and Pricing
  2. Maintenance Responsibilities
  3. Revenue Sharing
  4. Duration of Agreement
  5. Termination
  6. Governing Law


Going indepth - Analysis of each section:

  1. Product Selection and Pricing : This section explains that the vendor will provide a variety of products to be sold in the vending machines at the location owner's premises. Both parties will agree on the product selection, and the vendor will set the prices for the products. The location owner can request price adjustments, but the vendor is not obligated to make those changes.

  2. Maintenance Responsibilities : This section outlines the vendor's responsibility for installing, operating, maintaining, and repairing the vending machines. The location owner must provide suitable space and facilities for the machines. The vendor is also responsible for refilling and cleaning the machines, and the location owner must allow access for the vendor to do so during business hours.

  3. Revenue Sharing : This section describes how the net revenue generated by the vending machines will be shared between the vendor and the location owner. The specific percentages of the net revenue each party will receive are stated in the agreement. The vendor must provide a monthly report of sales, net revenue, and revenue share, and pay the location owner's share within 15 days of providing the report.

  4. Duration of Agreement : This section states that the agreement will begin on the effective date and continue for a specified number of years (the "Term"). The agreement can be renewed for additional one-year terms if both parties agree in writing. The agreement can also be terminated earlier according to the provisions in the agreement.

  5. Termination : This section explains that either party can terminate the agreement without cause by providing 30 days written notice. If a party breaches the agreement, the other party can terminate the agreement immediately if the breaching party does not fix the breach within 10 days of receiving written notice.

  6. Governing Law : This section states that the agreement will be governed by the laws of the United States and the state of Iowa. Any disputes arising from the agreement will be handled by the state and federal courts located in Davenport, Iowa.

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