THE VAR agreements will come into effect for a fixed period known as the term of the contract. This part of the agreement should indicate the exact date of the agreement`s entry into force and the duration of the contract. A VAR agreement is a legal contract between a producer and a value-added reseller, which defines the rights and obligations of both parties. A VAR buys a product from a manufacturer, somehow increases the added value for that product, and then sells the product as its own. An AGREEMENT of the VAR sets out the conditions to be met during this process. Any guarantee or guarantee that the parties may offer may be included in a clause in the agreement or in various clauses, such as the marketing clauses of the product.B. The value-added product is the subject of the VAR agreement, as it deals with several elements related to its copyrights and licenses. Most agreements object to the assertion that the designation of this agreement is not exclusively subject to the VAR of the agreement, since there are several SUPPLIERS that would develop the product/service in different countries, but which would include an exclusivity clause for a particular sector or sector. B, such as the insurance sector or military territory. Given that the VAR agreement is an important legal document, which constitutes the legal obligations, responsibilities and legal rights of both parties, as well as the essential elements necessary for inclusion in the terms of the agreement, it should be noted that the value-added product or value-added service is the only reason why both parties have entered into this agreement. Therefore, a brief summary of the specific product or service that the VAR wishes to develop or a detailed description of the product as an annex to the agreement.
Compensation combines all losses that occur during a process related to the agreement. This clause can be defined, as agreed between the parties, which links the burden of losses in certain incidents. The termination of the VAR agreement may take place in the event of a breach of the parties` obligations or for any other reason on which the parties agree, which may be indicated in a clause contained in the agreement. Since there may be conflicts between the parties over the VAR agreement, a clause containing the law applicable to litigation can help inform the parties of their rights and possible legal actions that may be taken to resolve any disputes between them. It is important to ensure that a VAR agreement is in line with commercial objectives and that its provisions are realistic. Since VAR agreements are legally binding, non-compliance with contractual conditions can result not only in early termination of the contract, but also in legal action and fines. Exclusive/non-exclusive clauses are one of the key elements of the VAR agreement, as it determines whether the VAR is the only person authorized to work on the product/service provided by the manufacturer.