Source Contract is a term used to describe a legally binding agreement between two or more parties, usually a buyer and a seller, for the purchase and sale of goods or services. It is an important document that outlines the terms and conditions of the transaction, including the price, quantity, delivery terms, payment terms, and other details. The source contract is a critical component of any business transaction, as it provides a clear understanding of the rights and obligations of each party involved. It also serves as a reference point for future disputes and helps to protect both parties from potential risks. Source contracts are also used to protect intellectual property rights, such as patents, trademarks, and copyrights. In short, a source contract is a vital document that helps to ensure that both parties are aware of their rights and obligations and that the transaction is conducted in a fair and transparent manner.
