A Supply Purchase Agreement is an official document between a buyer and seller that outlines the terms surrounding the sale of goods. It specifies the exact items being purchased, the quantity, quality and cost structure involved, as well as any special payment or delivery arrangements. It’s typically used when larger-scale purchases are taking place and serves to protect both parties in the event of a dispute. All Supply Purchase Agreements should be formalized to ensure both sides have the same understanding of expectations—it’s essential for a successful transaction!