Supply And Offtake Agreement (Genie AI)

The Supply and Offtake Agreement (Genie AI) is a legal template that governs the relationship between a supplier and a buyer in the context of advanced technology solutions powered by artificial intelligence (AI) systems developed by Genie AI. This agreement outlines the terms and conditions under which the supplier agrees to provide the buyer with a continuous and reliable supply of AI-powered products, services, or solutions tailored to the buyer's specific needs. It covers essential aspects such as the scope and specifications of the AI solutions, quality control measures, pricing and payment terms, delivery schedules, intellectual property rights, confidentiality obligations, liability and indemnification provisions, dispute resolution mechanisms, and termination procedures. This legal template ensures that both the supplier and the buyer have a clear understanding of their roles and responsibilities, promotes a transparent and mutually beneficial business relationship, and provides a framework for addressing any potential disputes or issues that may arise during the duration of the agreement.